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Containment & Handling Drilling Waste Management Market Size

Report ID: GMI11454
Published Date: Sep 2024
Report Format: PDF

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Containment & Handling Drilling Waste Management Market Size

The global containment & handling drilling waste management market was valued at USD 471.2 million in 2023 and is set to grow at a CAGR of 8.7% from 2024 to 2032. Increasing offshore drilling activities coupled with stricter environmental regulations towards drilling waste is fuelling the market growth. The increase in offshore oil and gas exploration, particularly in regions like North America and the Middle East, has elevated the need for effective waste containment and handling solutions to manage drilling waste in sensitive marine environments, contributing to market growth.

containment & handling drilling waste management market

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Governments worldwide are increasingly enforcing stringent regulations for the disposal and treatment of drilling waste. This has driven oil and gas companies to adopt advanced waste management solutions to ensure compliance, boosting demand for containment and handling systems. In addition, continuous innovations in waste management technologies, such as real-time waste monitoring and automated handling systems are enhancing the efficiency and safety of drilling operations. These advancements are driving the adoption of more sophisticated containment solutions.

Containment & Handling Drilling Waste Management Market Report Attributes
Report Attribute	Details
Base Year:	2023
Containment & Handling Drilling Waste Management Market Size in 2023:	USD 471.2 Million
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	8.7%
2024 – 2032 Value Projection:	USD 1 Billion
Historical Data for:	2021-2023
No. of Pages:	80
Tables, Charts & Figures:	10
Segments covered:	Application & Region
Growth Drivers:	Increase in offshore drilling activities Increasing technological advancements in waste management
Pitfalls & Challenges:	High treatment & equipment cost

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of containment & handling drilling waste management was worth over USD 471.2 million in 2023 and will grow at a CAGR of 8.7% from 2024 to 2032, driven by the increasing offshore drilling activities coupled with stricter environmental regulations towards drilling waste.

The offshore application is set to grow at a rate of over 9% through 2032, due to a shift towards cost-efficient and environmentally friendly operations, with companies investing in subsea infrastructure, digitalization, and safety measures to enhance productivity and meet stricter environmental regulations in offshore projects.

The U.S. containment & handling drilling waste management industry held a decent growth in 2023 and is forecasted to exceed USD 517 million by 2032, driven by the growing environmental concerns and eco-friendly waste management solutions.

Augean, Baker Hughes, Clean Harbors, Derrick Equipment Company, Geminor, GN Solids Control, Halliburton among others.