Hexa Research
Fact-based market research, penetrating industry insights and validated
forecasts to help you make better decisions for a stronger future
Marine trade registers for a majority of petroleum products and natural gas transportation.
Mounting demand for crude and petroleum products oil in Europe and Asia Pacific will boost
the maritime trade growth further. Post-oil spill segments are mechanical, chemical,
biological, and physical. Chemical and mechanical containment and recovery are the
techniques used in the industry.
By applications, the market can be sliced into pre-oil spill management a post-oil spill
management. Pre-oil spill covers onshore and offshore sectors. Offshore segment recorded
the maximum shares in 2015.It consumed approximately 70% of the total demand in that
year.
Post-oil spill management also includes of onshore and offshore segments. In 2015, onshore
post-oil spill sector was valued close to 60% of the total market demand. Regions such as
Norway, U.S, Mexico, Canada, U.S., China, and Nigeria have observed well blowouts and
occurrences of pipeline breakdowns. This could be accredited to huge market diffusion in
past
Main regions in the market encompass North America, Europe, Asia Pacific, the Middle East
and Africa (MEA), and Central & South America. North America was the leading market for
pre-oil spill management. It was estimated at 40.1% of total demand in 2015. This region will
potentially face lucrative demand due to production activities and increasing oil & gas
discovery. Pre-oil spill management shares in Asia Pacific will gain over USD 21,540 million by
2024. It is mounting at a healthy CAGR of 4.2% in the review phase.
Profits to determine hydrocarbon reserves noticeably and supportive government initiatives
in the form of fiscal support in India and China could drive the regional demand. Top-most
companies in the global oil spill management market include OMI Environmental Solutions,
Skim Oil Inc., American Green Ventures Inc., and Spill Response Services.
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