Oil Spill Management Market Analysis-Size, Share, Growth, Trends and Forecasts To 2022: Grand View Research

The global oil spill management market size is expected to reach USD 125.62 billion by 2022, according to a new report by Grand View Research, Inc. Increasing oil spill incidents since the past five years coupled with stringent safety and environmental regulations are expected to remain key driving factor for global oil spill management market. In addition, increasing seaborne and pipeline transportation of crude oil and chemicals globally is also expected to have a positive impact on market growth. Strict government regulations particularly in North America and Europe for employing safety devices and technologies during drilling and transportation of crude oil have contributed towards market development in these regions. Increasing offshore and pipeline tanker transportation of petroleum products is also expected to increase demand for various oil spill management technologies. Additionally, increasing R&D by key players for efficient and rapid oil spill cleaning is expected to
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