The global oil spill management market size was USD 140 Billion in 2022 and is expected to reach USD 199.26 Billion in 2032, and register a revenue CAGR of 4% during the forecast period. The market revenue growth is expected to develop as a result of several factors, including an increase in oil and gas exploration and production, growing environmental pollution concerns, and the demand for efficient oil spill response and management strategies.

The common factor driving revenue growth of the global oil spill management market increasing need for managing potential operational oil spills such as spills during exploration, production, refining, and transporting. Oil spill management includes utilization of technologies to prevent any possible oil spills, development of strategies for clean-up after a spill, and implementation of strategies to reduce waste during various phases and processes related to oil.

The effects of oil spills can be observed over a wide area in water and can also severely impact the marine ecosystem and cause damage to shorelines vast distances away from the actual spill location. Leakages in oil and gas pipes are also a grave concern for oil tanker and pipeline companies as it can result in high cost for clean-up, restoration, as well as most often results in lawsuits. Stringent regulations implemented by governments and need to comply with safety norms to avoid occupational hazards in the production and transportation of petroleum are other factors expected to boost revenue growth of the oil spill management market during the forecast period.

COVID-19 impact:
The COVID-19 pandemic and subsequent lockdown and lethargic limp back to the new normal had impacted ability to offer oil spill clean-up management, despite the fact that exploration activities continued on grounds of ‘essential services’. The market for oil spill management witnessed a setback during the pandemic due to low manpower availability and social distancing norms and personal preferences. The situation has resulted in major decline in demand for oil from globally, which has also had serious economic consequences in the Middle East.

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Some key findings in the report

  • Post-oil spill management includes use of chemical, mechanical, and biological technologies. The mechanical post-oil spill management technology segment accounted for largest revenue share in 2020. This segment includes sorbent and skimmers, which are generally used for oil spill cleanups.
  • Skimmers are deployed on boats to remove contaminants from water surfaces. These are designed to suck up spilled oil from the water like a vacuum cleaner. Skimmers are also used to physically separate oil from water so the recovered fluid can be processed for further use.
  • The offshore sub-segment dominated other sub-segments in terms of revenue share in the pre-oil spill application segment in 2020. Growing need to monitor leaks in pipelines in remote locations or underwater locations has been fueling revenue growth of the offshore sub-segment.
  • North America accounted for largest revenue share in 2020, due to extensive oil- and gas-related activities in countries in the region. Furthermore, past incidences of oil spills and their adverse effects on the ecosystem have resulted in deployment of more stringent regulations that players in the market need to comply with.
  • Key market players include Cameron International Corporation, Ecolab Inc., Hyundai Heavy Industries Co., Ltd., National Oilwell Varco, Fender & Spill Response Services L.L.C., SkimOil, Inc., COSCO Shipyard Group Co., Ltd., Control Flow Inc., Northern Tanker Company Oy, and GE Oil & Gas.

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For the purpose of this report, Reports and Data has segmented the global oil spill management market on the basis of technology, response technique, application, and region:

Technology Outlook (Revenue, USD Billion; 2018-2028)

  • Pre-oil spill
    • Pipeline Leak Detection
    • Double-hull
    • Blow-out Preventers
    • Others
  • Post-oil spill
    • Chemical
    • Mechanical
    • Biological
    • Others

Response Technique Outlook (Revenue, USD Billion; 2018-2028)

  • Mechanical Containment and Recovery
    • Containment Booms
      • Sorbent Booms
      • Hard Booms
      • Fire Booms
      • Others
    • Skimmers
      • Oleophilic Skimmers
      • Weir Skimmers
      • Non-oleophilic Skimmers
      • Others
    • Sorbent
    • Others
  • Chemical recovery
    • Gelling Agents
    • Dispersing Agents
    • Others
  • Biological Recovery
  • Others

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Pre-oil Spill
    • Onshore
    • Offshore
  • Post-oil Spill
    • Onshore
    • Offshore

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of LATAM

 

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