Regulatory Mandates for Preventing Spills from Oil Tankers P
- Adoption of double hull tankers especially in those that are used in transporting crude oil has strengthened prevention measures in pre-oil management spill scenario
- Oil storage and transportation companies eye vast prospects in Asia Pacific on back of thriving shipbuilding and repairing activities in Asian nations, and shipbuilders are leaning on adopting better designs
ALBANY, N.Y, Aug. 17, 2020 /PRNewswire/ -- Wide spectrum of pre- and post-spill technologies and methods are employed by businesses in seaborne activities and companies related to oil drilling, storage, and transportation to prevent, minimize, or devise effective clean-up of oil spills. Consequently, around the world these are crucial in minimizing the adverse environmental effects of oil spills, propelling the oil spill management market to evolve.
Oil tankers adopt new vessel designs, notably double hulling, in managing pre- spills.
Research analysts at TMR projects the global oil spill management market to clock a CAGR of 3.1% from 2019 to 2027, and thereby reach valuation of US$ 139.4 bn by the end of this forecast period.
Request for Covid-19 Impact Analysis on Oil Spill Management Market: https://www.transparencymarketresearch.com/Covid19.php
Key Findings of Oil Spill Management Market Report
- The global valuation of the oil spill management market was pegged at a whopping US$ 105.9 bn in 2018
- In pre-spill segment, rising adoption of double-hulled ships in oil transportation was attributed largely to regulatory mandates
- During 2019 – 2027, the double-hulled ships segment is expected to gain market share
- Regionally, North America has been buoyant market on the global front
- Asia Pacific accounted for the major share of global market in 2018
- Remarkable rise in oil drilling activities onshore to drive the uptake of this product type
Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php
Oil Spill Management Market: Key Driving Factors and Promising Avenues
Industry-specific trends and regulatory mandates in minimizing the impact of oil spills on ecology in general and marine life in particular have shaped the growth trajectories of the oil spill management market. In coming years, numerous drivers will spur revenue scope in the market, some of which are discussed below:
- Rise in transportation and drilling of crude oil around the world has led to the demand for vessel designs that can effectively prevent oil spills. Also, rise in seaborne transportation activities have alarmed governments about the concerns of oil spills on the marine life.
- Rise in in case of accidental oil spills has gravitated oil drilling and transportation companies give due caution to oil spill management market.
- Advances in designs of oil vessels have been crucial part of preventing oil spills.
- Rising domestic shipbuilding and repairing activities in some parts of the developing world has also spurred the prospects in the market.
- Demand for new techniques and methods of cleaning up marine oil spills also boosts the market outlook.
- Implementation of international conventions on reducing oil spill in developed economies has positively affected the demand for oil spill management services.
- Rise in onshore oil drilling activities has fueled new revenue prospect for shipbuilding prospects.
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/2451
Oil Spill Management Market: Geographical Assessment
Among the various key geographies contributing revenues to the market, Asia Pacific holds the sway and accounted for the leading share in 2018. The growth of this regional market has been fueled increasingly by the vibrant shipbuilding as well repairing activities that have taking place in China, South Korea, and Japan. Rapidly increasing trend of double hulling has also spurred revenue generation for players in this regional market. A vibrant shipping industry will help the Asia Pacific market retain its dominance throughout the assessment period.
Purchase Premium Research Report on Oil Spill Management Market @ https://www.transparencymarketresearch.com/checkout.php
On the other hand, North America is also a promising market for stakeholders engaged in oil spill management. The market has gained substantial opportunity due to focus on prevention of oil spills.
Browse More Press Releases: https://www.transparencymarketresearch.com/press-releases.htm
The Oil Spill Management Market can be segmented as follows:
- Pre-Oil Spill Management
- Blowout Preventers
- Double Hulling
- Pipeline Leak Detection
- Post-Oil Spill Management
- Mechanical Containment Methods
- Chemical and Biological Management Methods
- Physical Management Methods
Product Type Analysis
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
Browse Latest Reports by TMR: https://www.transparencymarketresearch.com/latest.htm
Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,
Turbine Drip Oil Market - Shift from mineral-based lubricants, used in drip oil, to biodegradable lubricants is expected to drive the turbine drip oil market during the forecast period. Furthermore, the ability of turbine drip oil to work efficiently under severe environmental conditions drives the market. Products such as lubricants are utilized in drip lubrication systems for water well line shaft bearings, water turbine bearings for irrigation pumps, and other turbine bearing applications.
Impressed Current Cathodic Protection for Oil and Gas Market – Increasing energy demand and emerging economies are some of the key drivers of the impressed current cathodic protection for oil and gas market. However, high cost required for the maintenance process can hamper the growth of the impressed current cathodic protection for oil and gas market. Ample opportunities are there for the impressed current cathodic protection for oil and gas market owing to rapid industrialization taking place in India and China.
Commercial Boilers Market - The global commercial boilers market can be segmented based on fuel type, capacity, application, and region. In terms of fuel type, the global commercial boilers market can be classified into fire tube natural gas, oil, and coal. Based on capacity, the global commercial boilers market can be divided into 0.3–2.5 MMBtu/hr, 2.5–10 MMBtu/hr, 50–100 MMBtu/hr, and 100–250 MMBtu/hr. Commercial boilers are fueled by oil or gas to heat water efficiently.
Onshore Oil and Gas Pipelines Market - Based on type, the onshore oil and gas pipelines market can be segmented into electric resistance welded (ERW) pipes, spiral submerged arc welded (SSAW) pipes, longitudinally submerged arc welded (LSAW) pipes, and others. ERW pipes have high dimensional accuracy, short weld joints, and uniform thickness. They can withstand high pressure. SSAW pipes are welded and formed simultaneously and they have spiral welding joints that can help avoid high stress and provide enhanced force resistance.
Explore More Upcoming Reports: https://www.transparencymarketresearch.com/upcoming.htm
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/oil-spill-management.html