Global Offshore Decommissioning Market 2024-2028
The offshore decommissioning market is forecasted to grow by USD 2505.3 mn during 2023-2028, accelerating at a CAGR of 6.78% during the forecast period. The report on the offshore decommissioning market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by maturing oil and gas fields and aging platforms, strong regulation for offshore decommissioning activities, and high potential of offshore marginal fields.
Technavio's offshore decommissioning market is segmented as below:
By Type
By Service
- Well plugging and abandonment
- Platform removal
- Permitting and regulatory compliance
- Platform preparation
- Others
By Geographical Landscape
- Europe
- North America
- APAC
- South America
- Middle East and Africa
This study identifies the rising investments in renewable energy as one of the prime reasons driving the offshore decommissioning market growth during the next few years. Also, advances in post-abandonment monitoring systems and use of single lift in decommissioning and discovery of new oil and gas resources will lead to sizable demand in the market.
The report on the offshore decommissioning market covers the following areas:
- Offshore decommissioning market sizing
- Offshore decommissioning market forecast
- Offshore decommissioning market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading offshore decommissioning market vendors that include Able UK Ltd., AF Gruppen Norge AS, Aker Solutions ASA, Allseas Group SA, Baker Hughes Co., Boskalis, DeepOcean Group Holding BV, DNV Group AS, Halliburton Co., Heerema International Group, John Wood Group PLC, Oceaneering International Inc., Perenco, Petrofac Ltd., Ramboll Group AS, Saipem S.p.A., Schlumberger Ltd., Subsea 7 SA, TechnipFMC plc, and Weatherford International Plc. Also, the offshore decommissioning market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.