Transparency Market Research has released a new market research report titled Oil Spill Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020. According to the report, the global oil spill management market revenue stood at USD 94,218.1 million in 2013 and is projected to reach USD 114,441.1 million by 2020, expanding at a CAGR of 2.8% between 2014 and 2020.
The report also provides an estimated cost incurred in managing the oil spills that occurred between 2000 and 2013. According to the study, the total cumulative expenditure on post-oil spill management services from 2000 to 2013 stood at USD 12,886.5 million.
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Asia Pacific is the leading segment in the global oil spill management market. The high market share can be attributed to the strong presence of the shipbuilding industry in the region. Asia Pacific consists some of the largest shipbuilding companies located in South Korea, Japan and China. Major shipbuilding companies headquartered in Asia Pacific include Mitsubishi Heavy Industries, Hyundai Heavy Industries, STX Group and Samsung Heavy Industries.
Growth of the shipbuilding industry in Asia Pacific can be attributed to the easy availability of steel and strong focus by the governments to build the heavy industrial sector of the region. For example, in South Korea, industrial conglomerates such as Hyundai Heavy Industries and Samsung Heavy Industries receive strong support from Export Credit Agencies and development banks such as the Export Import Bank of Korea and Korea Trade Insurance Corporation. Moreover, increase in deepwater and ultra-deepwater drilling activities has also positively affected the demand for newly-built double-hulled tanker vessels. Majority of these new build double-hulled tankers are supplied by shipyards located in Asia Pacific.
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Rest of the World (RoW) segment held the largest market share in terms of BOP installations globally in 2013. The presence of some of the largest oil and gas producing countries in both the Middle East and Africa has played an important role in driving the demand for BOPs.
North America has emerged as the largest segment in terms of cumulative expenditure on post oil spill management from 2000 to 2013. Since the last decade, the region has witnessed some of the largest oil spills that have forced the governments and responsible companies to spend millions on oil spill management.
Key participants in the global oil spill management market include Cameron International Corporation, National Oilwell Varco, Control Flow Inc., Fender & Spill Response Services L.L.C., Northern Tanker Company Oy, SkimOil, Inc, Hyundai Heavy Industries Co., Ltd, GE Oil & Gas, COSCO Shipyard Group Co., Ltd, Ecolab Inc. and CURA Emergency Services. The company profiles include major market players in BOP manufacturing, shipbuilding and oil spill management services. This report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, and recent developments.
The research study analyzes and estimates the market size in terms of market revenue (USD million). The report covers technology and type segments and provides region-wise data in terms of revenue. The report also provides historical data, detailed analysis, and statistically refined forecast (2014 – 2020) for the product and geographical segments. The research covers a comprehensive analysis of key players operating in the oil spill management market. The oil spill management market has been segmented as follows:
Global Oil Spill Management Market: Technology Analysis
o Pre-Oil Spill
o Blowout preventers
o Double hulling
o Pipeline leak detection
o Post-Oil Spill
o Mechanical methods
o Chemical and biological
Global Oil Spill Management Market: Type Analysis
Global Oil Spill Management Market: Regional Analysis
o North America
o Asia Pacific
o Rest of the World (RoW)
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