Containment and Handling Market - Global Industry Analysis 2020

Rapid growth in the oil and gas industry along with an increased demand for energy is expected to boost the global demand for containment and handling market. Increased drilling activities in both offshore and onshore areas have direct implications on the containment and handling market. Drilling waste including toxic drilling fluids and cuttings, can lead to the water pollution, if get mixed with water. Stringent governmental regulations pertaining to the disposal of drilling waste is another factor that has augmented the containment and handling market.

Further, deep underground drilling poses more threat in terms of water contamination as drilling at higher depths creates higher probability of finding ground water. Besides drilling activities, increasing industrialization serves as another factor that has contributed towards the waste generation and hence the containment and handling market. Hazardous industrial wastes require special attention in order to minimize or check the intermixing of such waste with ground water.

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Segmentation of the containment and handling market can be done on the basis of application, equipments and geography. Containment and handling activities are mainly used during oil & gas exploration and mining activities. The use of toxic drilling fluids and cutting generation makes it mandatory for the drilling company to handle, treat and dispose the waste material without causing any harm to the environment. Presently, the drilling activities are not limited to the onshore areas as the companies have started to drill deep in the offshore areas in order to search for new oil and gas reservoirs. Thus, within the oil and gas applications, the containment and handling market can be segmented further for onshore and offshore applications.

Offshore applications require special attention as the intermixing of toxic waste with oceanic water can pose a serious threat to the aquatic life. Containment and handling market can also be segmented on the basis of equipment that is used in the process. Major equipments include the drill cutting containers, screw conveyors, Rig Vac and others. These equipments form a part of complete drilling waste management process and are used before the treatment and disposal of drilling waste.

Regional segmentation of the containment and handling market can be done on the basis of geography by identifying the major countries with higher oil and gas production volumes. Major countries include the United States, Canada and Mexico in North America; Malaysia and Indonesia in Asia Pacific; Iran, Iraq, Qatar, Kuwait, Angola, Libya and Nigeria in Middle East and Africa; Russia and the offshore areas of the North Sea in Europe; Brazil, Argentina and Venezuela in South America.

Increasing drilling activities, stringent government regulations regarding handling, containment and disposal of drilling wastes; rise in drilling activities for extraction of unconventional sources of energy such as shale oil and shale gas are the major drivers to the containment and handling market. High expenditure in acquiring containment and handling services is one of the restraints to the containment and handling market. Expected increase in the drilling activities pertaining to the development of shale gas reservoirs in Argentina can possess positive impact on the containment and handling market in the coming five to six years.

Some of the key players in containment and handling market include companies such as Augean PLC, Scomi Group Bhd, Baker Hughes Incorporated, M-I L.L.C., Halliburton and Weatherford.

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