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.
Browse the full Oil Spill Management Market report at http://www.transparencymarketresearch.com/oil-spill-management.html
The report also provides an estimated cost incurred in managing the oil spills in 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.
The pre-oil spill management technologies include the utilization of blowout preventers, pipeline leak detection systems and double hulling of ships to reduce the probability of oil spills. Blowout preventers are large valves used to control the wellbore fluids and prevent a blowout. If not monitored properly, extreme erratic pressure while drilling can lead to the release of hydrocarbons from the well, resulting in an oil spill. Increased drilling activities in deepwater and ultra-deepwater regions with extreme and erratic well pressure are one of the major factors augmenting the demand for BOPs. In addition, many rig contractors are now purchasing an extra BOP to insulate against the monetary losses caused during the maintenance of BOPs.
Pipeline leak detection systems and double hulling of oil tankers are essential steps taken to reduce the probability of an oil spill during hydrocarbon transportation (through pipelines and ships). Pipeline leak detection systems alarm pipeline operators in case of a leakage from any crude oil or refined product pipeline. Double hulling of tanker vessels reduces the chances of oil spillage, especially in case of low speed collisions and groundings. Double hulling of tankers has emerged as one of the most widely used methods for reducing the probability of oil spills. The second layer of the hull used in double hulling forms a secondary barrier to the seawater in case of damage to the primary layer.
The post-oil spill management includes physical methods, application of chemical and biological agents, and mechanical containment to manage oil spills. These practices involve the utilizations of booms, skimmers, dispersants, gelling agents, vacuum washing, or pressure washing to contain and clean the oil spillage.
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 cover 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 full Oil Spill Management Market report Press Release at http://www.transparencymarketresearch.com/pressrelease/oil-spill-management.htm