ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research announced a 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 was valued at US$94,218.1 million in 2013 and is expected to reach a valuation of US$114,441.1 million by 2020, growing at CAGR of 2.8% between 2014 and 2020.
As economies emerge and industries pick pace, there is a clear rise in the demand for energy from developing industries. Owing to these reasons, drilling activities across the globe have witnessed a rise, proving to be an impetus to blowout preventers (BOPs). The other important factor adding to the growth of the global oil spill management market is the strict legal consequences in various nations for companies that are responsible for such oil spills.
The global oil spill management market is segmented on the basis of technology analysis, which leads to the categories of pre-oil spill and post-oil spill technologies. The pre-oil spill sub-segment comprises blowout preventers, pipeline leak detection, and double hulling; while the post-oil spill segment includes mechanical, physical, chemical, and biological technologies. The oil spill management market is also segmented on the basis of location into offshore and onshore. Geographically, this market is segmented into North America, Asia Pacific, Europe and Rest of the World. Asia Pacific is expected to lead the pre-oil spill management segment.
Some of the key players in the global oil spill management market are National Oilwell Varco, Cameron International Corporation, Fender & Spill Response Services L.L.C., Control Flow Inc., SkimOil, Inc, Hyundai Heavy Industries Co., Ltd, Northern Tanker Company Oy, GE Oil & Gas, CURA Emergency Services, and COSCO Shipyard Group Co., Ltd.
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