Market Overview:
The global oil and gas risk management market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for oil and gas across the globe. The global oil and gas risk management market is segmented on the basis of type, application, and region. On the basis of type, it is divided into initial risk management and residual risk management. On the basis of application, it is classified into oil and gas. Region-wise, it is analyzed across North America, Latin America, Europe Asia Pacific (APAC),and Middle East & Africa (MEA). Some key players operating in this market are BP plc., Chevron Corporation., Exxon Mobil Corporation., Royal Dutch Shell plc., Total S.A.
Product Definition:
Oil Gas Risk Management is the process of assessing and managing the risks associated with oil and gas operations. The importance of Oil Gas Risk Management is that it helps ensure the safety of personnel, protect the environment, and minimize financial losses.
Initial Risk Management:
The global initial risk management (IRM) market size was valued at USD 1.8 billion in 2015 and is expected to witness a significant growth over the forecast period owing to its increasing demand across the oil & gas industry. The rising concern for safety and security of assets has led to an increase in drilling activities, which subsequently increases risks associated with exploration & production (E&P). These additional risks need to be addressed with proper tools and processes in order to maintain compliance within regulatory standards.
Residual Risk Management:
Residual risk management is a process to identify, assess and control the risks that remain after the completion of an activity or project. It is used in oil gas risk management as it helps to identify risks associated with drilling activities.
Risk assessment methods include probabilistic risk analysis, scenario planning, and residual analysis which are performed during pre-phase (scheduling), phase (preparation) and post-phase (implementation) of drilling operations respectively.
Application Insights:
The oil and gas risk management market is segmented by application into upstream, midstream and downstream, chemicals and refining, energy trading & transportation. The energy trading & transportation segment dominated the global oil gas risk management market in 2017 accounting for over 40% of the overall revenue share. This can be attributed to growing investments in developing countries such as China India Indonesia Malaysia Philippines Singapore Thailand Vietnam which are considered to be high-risk markets owing to political uncertainty coupled with volatile crude prices.
Rising demand for natural gas from various industries including power generation, automotive manufacturers along with increasing LNG imports from Qatar Africa Algeria Morocco UAE has resulted in a steady growth of natural gas liquids (NGL) production across the world which is anticipated to drive industry expansion over the coming years.
Regional Analysis:
North America was the dominant regional market in 2017 and is expected to continue its dominance over the forecast period. The U.S., being a major oil & gas producer, consumer, and importer is particularly vulnerable to weather-related incidents in the global economy. Thus, it has taken various initiatives for risk management including insurance policies such as those provided by E&P companies for covering risks associated with drilling activities; third-party contracts between producers and consumers for financial assurance of petroleum products; physical security measures such as fences around facilities; etc.
Asia Pacific emerged as one of the most lucrative regions during the same year owing to increasing demand from end-users coupled with growing investments from multinational companies operating in this region. Furthermore, countries like China are also making significant contributions toward development of offshore fields which will further boost growth prospects over next eight years (2018 - 2027).
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising prices of oil and gas leading to increased investment in risk management solutions
- Proliferation of new technologies and services that can help manage risk more effectively
- Greater awareness of the benefits of risk management among businesses and governments
- Increased collaboration between different stakeholders in the oil and gas industry
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil Gas Risk Management Market Research Report
By Type
Initial Risk Management, Residual Risk Management
By Application
Oil, Gas
By Companies
ABS Group, Tullow Oil Plc, Intertek Group Plc, RiskWatch International, DNV GL AS, Risktec, CCIG, Wipro Limited, CGE Risk
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
208
Number of Tables & Figures
146
Customization Available
Yes, the report can be customized as per your need.
Global Oil Gas Risk Management Market Report Segments:
The global Oil Gas Risk Management market is segmented on the basis of:
Types
Initial Risk Management, Residual Risk Management
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil, Gas
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABS Group
- Tullow Oil Plc
- Intertek Group Plc
- RiskWatch International
- DNV GL AS
- Risktec
- CCIG
- Wipro Limited
- CGE Risk
Highlights of The Oil Gas Risk Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Initial Risk Management
- Residual Risk Management
- By Application:
- Oil
- Gas
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Oil Gas Risk Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Oil gas risk management is the process of managing the risks associated with oil and gas production. Risk management includes identifying potential threats, assessing how likely they are to occur, and developing strategies to mitigate or avoid them.
Some of the key players operating in the oil gas risk management market are ABS Group, Tullow Oil Plc, Intertek Group Plc, RiskWatch International, DNV GL AS, Risktec, CCIG, Wipro Limited, CGE Risk.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Oil Gas Risk Management Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Oil Gas Risk Management Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Oil Gas Risk Management Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Oil Gas Risk Management Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Oil Gas Risk Management Market Size & Forecast, 2018-2028
4.5.1 Oil Gas Risk Management Market Size and Y-o-Y Growth
4.5.2 Oil Gas Risk Management Market Absolute $ Opportunity
Chapter 5 Global Oil Gas Risk Management Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Oil Gas Risk Management Market Size Forecast by Type
5.2.1 Initial Risk Management
5.2.2 Residual Risk Management
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Oil Gas Risk Management Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Oil Gas Risk Management Market Size Forecast by Applications
6.2.1 Oil
6.2.2 Gas
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Oil Gas Risk Management Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Oil Gas Risk Management Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Oil Gas Risk Management Analysis and Forecast
9.1 Introduction
9.2 North America Oil Gas Risk Management Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Oil Gas Risk Management Market Size Forecast by Type
9.6.1 Initial Risk Management
9.6.2 Residual Risk Management
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Oil Gas Risk Management Market Size Forecast by Applications
9.10.1 Oil
9.10.2 Gas
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Oil Gas Risk Management Analysis and Forecast
10.1 Introduction
10.2 Europe Oil Gas Risk Management Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Oil Gas Risk Management Market Size Forecast by Type
10.6.1 Initial Risk Management
10.6.2 Residual Risk Management
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Oil Gas Risk Management Market Size Forecast by Applications
10.10.1 Oil
10.10.2 Gas
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Oil Gas Risk Management Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Oil Gas Risk Management Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Oil Gas Risk Management Market Size Forecast by Type
11.6.1 Initial Risk Management
11.6.2 Residual Risk Management
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Oil Gas Risk Management Market Size Forecast by Applications
11.10.1 Oil
11.10.2 Gas
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Oil Gas Risk Management Analysis and Forecast
12.1 Introduction
12.2 Latin America Oil Gas Risk Management Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Oil Gas Risk Management Market Size Forecast by Type
12.6.1 Initial Risk Management
12.6.2 Residual Risk Management
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Oil Gas Risk Management Market Size Forecast by Applications
12.10.1 Oil
12.10.2 Gas
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Oil Gas Risk Management Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Oil Gas Risk Management Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Oil Gas Risk Management Market Size Forecast by Type
13.6.1 Initial Risk Management
13.6.2 Residual Risk Management
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Oil Gas Risk Management Market Size Forecast by Applications
13.10.1 Oil
13.10.2 Gas
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Oil Gas Risk Management Market: Competitive Dashboard
14.2 Global Oil Gas Risk Management Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABS Group
14.3.2 Tullow Oil Plc
14.3.3 Intertek Group Plc
14.3.4 RiskWatch International
14.3.5 DNV GL AS
14.3.6 Risktec
14.3.7 CCIG
14.3.8 Wipro Limited
14.3.9 CGE Risk
