Offshore Decommissioning Market worth 8.76 Billion USD by 2025

According to the new market research report Offshore Decommissioning Market by Service (Well Plugging & Abandonment, Platform Removal, Others), Depth (Shallow & Deepwater), Structure (Topsides, Other Infrastructure), Removal (Leave in Place, Partial, Complete), and Region – Global Forecast to 2025”, published by MarketsandMarkets™, The offshore decommissioning market is expected to grow from an estimated USD 5.91 billion in 2017 to USD 8.76 billion by 2025, at a CAGR of 5.05%. Ageing offshore oil & gas infrastructure and maturing fields are driving the offshore decommissioning market. Low oil prices of the past couple of years has made it even more difficult to maintain low production mature reserves, driving companies to accelerate decommissioning plans for such oil & gas fields.

Don’t miss out on business opportunities in Offshore Decommissioning Market. Download PDF Brochure and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/pdfdownload.asp?id=20319591

Well plugging and abandonment: The largest segment of the offshore decommissioning market, by service type

The offshore decommissioning market has been segmented by service type, water depth, structure, removal type, and region. The market has been further segmented, by service type, into 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 (includes topside, jacket removal, subsea), pipeline and power cable decommissioning, materials disposal, and site clearance. The well plugging and abandonment service segment accounted for the largest share of the market in 2016, and is also projected to grow at the fastest pace during the forecast period. Well plugging and abandonment involves the safe and permanent closure of production or exploration wells and is one of the biggest and most critical activities in any decommissioning project. With increasing regulatory requirements for proper abandonment of unproductive reserves and increasing environmental concerns, the market for well plugging and abandonment is estimated to grow at the fastest pace among all decommissioning services.

Browse and in-depth TOC on “Offshore Decommissioning Market

65 – Tables

67 – Figures

159 – Pages

View more detailed TOC @

https://www.marketsandmarkets.com/Market-Reports/offshore-decommissioning-market-20319591.html

The shallow water subsegment is estimated to have the highest growth rate in the offshore decommissioning market, by depth.

Based on depth, the market has been segmented into shallow water and deepwater segments. The application of offshore decommissioning in shallow water projects is estimated to lead the market, both in terms of market value and growth. The shallow water basins on the U.K. Continental Shelf and the Norwegian North Sea will play a major role in driving the offshore decommissioning market. Shallow water operations are typically less expensive compared to deepwater operations and a majority of the old and ageing offshore installations are in shallow waters. Thus, the market for offshore decommissioning will be the largest in shallow water projects.

Offshore Decommissioning Market

Europe: The largest market for offshore decommissioning

Europe was the largest market, by value, for offshore decommissioning in 2016, driven largely by activities in the U.K. and Norway. The U.K. offshore industry leads other regions in terms of well-developed and mandatory decommissioning guidelines. Authorities in the region are taking active steps to commit operators to decommission old infrastructure by providing expertise, policy support, and financial incentives. The U.S. Gulf of Mexico is the second largest market, closely behind Europe, with a large number of platforms being decommissioned each year.

Request for Free Sample Report @

https://www.marketsandmarkets.com/requestsample.asp?id=20319591

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top service providers in the offshore decommissioning market. These players include Amec Foster Wheeler ASA (France), Aker Solutions (Norway), AF Gruppen S.A. (U.S.), Tetra Technologies (U.S.), John Wood Group PLC (U.K.), Able UK (U.K.), DNV GL (Norway), Heerema Marine (The Netherlands), Allseas Group (Switzerland), DeepOcean Group (The Netherlands) and Technipfmc PLC (U.S.), among others.

Browse Adjacent Markets @ Energy and Power Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: sales@marketsandmarkets.com

You May Also Like