Offshore Decommissioning Market Report: Trends, Forecast and Competitive Analysis to 2030

Offshore Decommissioning Market Report: Trends, Forecast and Competitive Analysis to 2030

Offshore Decommissioning Trends and Forecast

The future of the global offshore decommissioning market looks promising with opportunities in the leave in place, partial, and complete markets. The global offshore decommissioning market is expected to reach an estimated $7.7 billion by 2030 with a CAGR of 7.2% from 2024 to 2030. The major drivers for this market are growing attention from the authorities to well plug and abandoned activities, rising number of abandoned wells and presence of large mature offshore oilfields worldwide, as well as, increase in aging oil & fuel platforms across the world.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Offshore Decommissioning by Segment

The study includes a forecast for the global offshore decommissioning by service type, removal, depth, structure, and region.

Offshore Decommissioning Market by Service Type [Shipment Analysis by Value from 2018 to 2030]:

• Project Management, Engineering & Planning
• Permitting & Regulatory Compliance
• Platform Preparation
• Well Plugging & Abandonment
• Conductor Removal
• Mobilization & Demobilization Of Derrick Barge
• Platform Removal
• Pipeline & Power Cable Decommissioning
• Material Disposal
• Site Clearance

Offshore Decommissioning Market by Removal [Shipment Analysis by Value from 2018 to 2030]:

• Leave In Place
• Partial
• Complete

Offshore Decommissioning Market by Depth [Shipment Analysis by Value from 2018 to 2030]:

• Shallow Water
• Deepwater

Offshore Decommissioning Market by Structure [Shipment Analysis by Value from 2018 to 2030]:

• Topside
• Substructure
• Subsea Infrastructure

Offshore Decommissioning Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Offshore Decommissioning Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies offshore decommissioning companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the offshore decommissioning companies profiled in this report include-

• Aker Solutions
• Ramboll
• AF Gruppen
• TechnipFMC
• John Wood
• Heerema Marine Contractors
• Royal Boskalis Westminster
• Petrofac
• Oceaneering
• Baker Hughes

Offshore Decommissioning Market Insights

Lucintel forecasts that shallow water will remain the larger segment over the forecast period due to lower operational expenses, and growing quantity of aging structures in the Gulf of Mexico and the North Sea.

Europe will remain the largest region forecast period due to growing number of well-established offshore infrastructures in the North Sea basins and the strict regulatory framework in the main oil and gas-producing nations in the region, such Norway and the United Kingdom.

Features of the Global Offshore Decommissioning Market

Market Size Estimates: Offshore decommissioning market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Offshore decommissioning market size by service type, removal, depth, structure, and region in terms of value ($B).

Regional Analysis: Offshore decommissioning market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different service type, removal, depth, structure, and regions for the offshore decommissioning market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the offshore decommissioning market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the offshore decommissioning market size?

Answer: The global offshore decommissioning market is expected to reach an estimated $7.7 billion by 2030.

Q2. What is the growth forecast for offshore decommissioning market?

Answer: The global offshore decommissioning market is expected to grow with a CAGR of 7.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the offshore decommissioning market?

Answer: The major drivers for this market are growing attention from the authorities to well plug and abandoned activities, rising number of abandoned wells and presence of large mature offshore oilfields worldwide, as well as, increase in aging oil & fuel platforms across the world.

Q4. What are the major segments for offshore decommissioning market?

Answer: The future of the global offshore decommissioning market looks promising with opportunities in the leave in place, partial, and complete markets.

Q5. Who are the key offshore decommissioning market companies?

Answer: Some of the key offshore decommissioning companies are as follows:

• Aker Solutions
• Ramboll
• AF Gruppen
• TechnipFMC
• John Wood
• Heerema Marine Contractors
• Royal Boskalis Westminster
• Petrofac
• Oceaneering
• Baker Hughes

Q6. Which offshore decommissioning market segment will be the largest in future?

Answer: Lucintel forecasts that shallow water will remain the larger segment over the forecast period due to lower operational expenses, and growing quantity of aging structures in the Gulf of Mexico and the North Sea.

Q7. In offshore decommissioning market, which region is expected to be the largest in next 5 years?

Answer: Europe will remain the largest region forecast period due to growing number of well-established offshore infrastructures in the North Sea basins and the strict regulatory framework in the main oil and gas-producing nations in the region, such Norway and the United Kingdom.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the offshore decommissioning market by service type (project management, engineering & planning, permitting & regulatory compliance, platform preparation, well plugging & abandonment, conductor removal, mobilization & demobilization of derrick barge, platform removal, pipeline & power cable decommissioning, material disposal, and site clearance), removal (leave in place, partial, and complete), depth (shallow water and deep water), structure (topside, substructure, and subsea infrastructure), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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