Thursday, 01 June 2023 10:01 GMT

Offshore Decommissioning Market Size [2023-2029] | To US $ 8.3 Billion, While Exhibiting An Impressive CAGR Of 7.6%

(MENAFN- Ameliorate Digital Consultancy) [Latest News, Updates & Trend analysis] Offshore Decommissioning Market by Power Source (Electric, Hybrid), By System (Energy Storage, Power Conversion, Power Generation, Power Distribution), by Operation (Manned, Autonomous), By End Use (Line Fit, Retro Fit) And by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global Trends and Forecast From 2019 To 2028

At Stunning 7.6% CAGR, The global Offshore Decommissioning Market was valued at over 4.8 Billion in 2022. The market is expected to see significant growth over the coming years, with a forecasted market value of over USD 8.3 Billion by 2028. offshore decommissioning market 2023 Manufacturing Construction Industry Global Analysis By Covid-19 Impact On, Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2029 Is Latest Study Published By Exactitude Consultancy.

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Offshore Decommissioning Market: Key Questions Answered in Report

The research study on the market offers inclusive insights about the growth of the market in the most comprehensible manner for better understanding of users. Various insights offered in the report answer some salient questions that assist stakeholders in gauging all emerging possibilities in the market.

  • How has rapidly changing business environment acts as major growth engine for the Offshore Decommissioning Market?
  • What are key trends that are constantly shaping the growth of the Offshore Decommissioning Market?
  • Which are prominent regions offering plentiful opportunities for the Offshore Decommissioning Market?
  • What are differential strategies adopted by key players to command a significant chunk of the global market share?

Years considered for this report:

  • Historical Years: 2018-2021
  • Base Year: 2022
  • Estimated Year: 2023
  • Forecast Period: 2023-2029

Market Segmentation:

Offshore Decommissioning Market Share: By Service Type

Based on the service type, the market is segmented as project management, engineering and planning, permitting and regulatory compliance, platform preparation, well plugging and abandonment, conductor removal, mobilization and demobilization of derrick barges, platform removal, pipeline and power cable decommissioning, materials disposal, and site clearance.

The well plugging & abandonment segment is estimated to lead the market during the forecast period, driven by demand from the European market. Well plugging & abandonment holds up to 45% share of the total decommissioning cost of a project.

Offshore Decommissioning Market Share: By Depth Type

Based on the depth type, the market is segmented as shallow water and deepwater. The shallow water segment is estimated to capture the larger share of the market and is projected to maintain its edge over deepwater segment , owing to its lower operational costs. Regardless, in the future, the deepwater segment would compete with the shallow water segment as many platform installations are now, at deepwater and ultra-deepwater depths.

Offshore Decommissioning Market Share: By Structure Type

Based on the structure type, the market is segmented as topsides, substructure, and subsea infrastructure. The topsides segment captured the largest share of the market in 2019, and is estimated to maintain its dominance during the forecast period. The growth of the segment is attributed to offshore platforms and decommissioning of topsides and related equipment that need specialized heavy lift vessels and removal equipment.

Offshore Decommissioning Market Share: By Removal Type

Based on the removal type, the market is segmented as partial, leave in place, and complete removal types. The complete removal segment is estimated to lead the market during the forecast period. The growth of the segment is due to the enactment of brassbound regulations for complete offshore platform removal to restore marine life and seafloor to its pre-production conditions.

Offshore Decommissioning Market Share: By Region

In terms of regions, Europe accounts for the largest share of the offshore decommissioning market followed by North America. The European market is also expected to be the fastest-growing market during the forecast period. Factors driving the region's market are mature oil and gas fields, particularly in the UK and the North Sea. Further, the imminent cessation of production in major oil and gas fields offers lucrative growth opportunities in the European market. North America and Asia-Pacific are also expected to offer considerable growth opportunities during the forecast period.

Companies Profiled in Offshore Decommissioning Market Report:

Heerema Marine Contractors, Royal Boskalis Westminster N.V., Petrofac, Oceaneering International, Baker Hughes Company, Halliburton, and Schlumberger.

What are the market factors explained in the report?

Key Strategic Developments: The study includes key strategic developments of the Offshore Decommissioning Market, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.

Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Offshore Decommissioning Market dynamics and its latest trends, along with relevant market segments and sub-segments.

Analytical Tools: The Global Outsourced Offshore Decommissioning Market report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter's five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.

Get report analysis:

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis

Get more information on this report: request free sample pages

Key Offerings:

  • Past Market Size and Competitive Landscape (2019 to 2022)
  • Past Pricing and price curve by region (2019 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by Voltage. Type, and End User and region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER's analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Service Type

  • Well Plugging & Abandonment
  • Platform Removal
  • Conductor Removal

By Depth

  • Shallow Water
  • Deep Water

By Structure

  • Topside
  • Substructure

By Removal

  • Leave In Place
  • Partial
  • Complete

(Sample reports are a great way to test our in-depth reports or study before you make a purchase)

  • Offshore Decommissioning Market report also presents the country-wise and region-wise analysis of the Exactitude Consultancy and includes a detailed analysis of the key factors affecting the growth of the market.
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  • Sample Report further sheds light on the Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis, to offer the readers an advantage over others.

Key Points from TOC:

1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

  • Executive Summary
  • Market Dynamics

    3.1. Market Drivers

    3.2. Market Restraints

    3.3. Market Opportunities

  • Key Insights

    4.1 Global Statistics - Key Countries

    4.2 New Product Launches

    4.3 Pipeline Analysis

    4.4 Regulatory Scenario - Key Countries

    4.5 Recent Industry Developments - Partnerships, Mergers and Acquisitions

  • Global Offshore Decommissioning Market Analysis, Insights and Forecast

    5.1. Key Findings/ Summary

    5.2. Market Analysis - By Product Type

    5.3. Market Analysis - By Distribution Channel

    5.4. Market Analysis - By Countries/Sub-regions


  • Competitive Analysis

    11.1. Key Industry Developments

    11.2. Global Market Share Analysis

    11.3. Competition Dashboard

    11.4. Comparative Analysis - Major Players

  • Company Profiles

    12.1 Overview

    12.2 Products and Services

    12.3 SWOT Analysis

    12.4 Recent developments

    12.5 Major Investments

    12.6 Regional Market Size and Demand

  • Strategic Recommendations

    TOC Continued...................

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