Offshore Decommissioning Market 2019 Global Trends, Size, Share, Competitive Analysis, Growth Opportunities, Business Developments, And Regional Forecast To 2023

Offshore Decommissioning Market 2019 Global Trends, Size, Share, Competitive Analysis, Growth Opportunities, Business Developments, And Regional Forecast To 2023

“”‘Offshore Decommissioning Market”””
Offshore Decommissioning Market Market 2019 Size and Share Analysis, Key Company share With Global Industry Historic and Forecast growth Analysis 2019 to 2023 Report, published by leading company “Market Research Future”. Offshore Decommissioning Market by Type, Service Type, Application (Shallow Water and Deep-water) and By Regions – Global Forecast to 2023. Global Offshore Decommission.

The global offshore decommissioning market hosts a number of key players. Some of the major names highlighted by MRFR in the latest published report are as follows: Ramboll Group A/S (Denmark), Tetra Technologies, Inc., (U.S.), TechnipFMC PLC (U.K.), Amec Foster Wheeler (U.K.), BP P.L.C. (U.K.), Statoil ASA (Norway), DNV GL (Norway), Allseas group SA (Switzerland), John Wood Group Plc. (Scotland), Aker Solutions ASA (Norway), Claxton Engineering Services (U.K.), and DeepOcean Group (Netherlands).

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European Region to Spearhead the Global Offshore Decommissioning Market. Offshore decommissioning of subsea wells, aging oil and gas platforms, and other relevant infrastructure is highly important to securely eject and dispose the equipment that is used for the oil and gas production and exploration. This process of offshore decommissioning is highly crucial in terms of concerns related to environmental protection. This process encompasses various activities for the disposal or removal of installations. The activities include platform preparation, permitting and regulatory compliance, engineering and planning, project management, well plugging and abandonment, mobilization and demobilization of derrick barges, conductor removal, materials disposal, pipeline and power cable decommissioning, platform removal, and site clearance.

A study report drafted by Market Research Future (MRFR) states that the global offshore decommissioning market is expected to garner a growth rate of 6.93% during the forecast period. The report also goes on to mention the various influencing drivers and constraints of the market before covering the segments. It is reported that various old-schooled structures in the North Sea and the Gulf of Mexico region are expected to be dismantled. This can significantly impact the global market in a positive manner and aid its growth and expansion over the forecast period. Additionally, the stringent regulations imposed by the governments is also anticipated to fuel the growth of the global market. However, at the same time, the fluctuating cost from one operator to another can pose to be a major restrain for the global market in the coming years.

Regional Analysis:

The global offshore decommissioning market comprises regions like Asia Pacific, Europe, North America, and the Rest of the World (RoW).

The offshore decommissioning market is expected to grow at a decent pace over the forecast period. Much of this growth can be attributed to Europe which holds close to 70% of the market. The largest shareholder of the market is forecasted to remain at the top of the standings over the forecast period. With several oilfields maturing in the forthcoming years in the North Sea and the European Regulatory Board imposing various stringent steps, the market is expected to boom over the forecast period in this region.

Following Europe, the North American region holds the second largest share in the offshore decommissioning market. The region boasts various maturing oilfields that are waiting to be dismantled in the Gulf of Mexico. The US is one of the major contributors in the region. The country is expected to gain added exposure and growth in the coming years and aid in proliferating the overall regional market. The region is expected to attain a CAGR of 6.83% and the valuation is calculated to reach USD 1,383.3 million by the end of the forecast period.

The Asia Pacific is another major region in the global offshore decommissioning market and is anticipated to garner massive growth over the forecast period. This is due to the burgeoning opportunities that lies for decommissioning in Asian countries like Indonesia and Malaysia.

Lastly, the Middle East region under the Rest of the World (RoW) geographical segment is expected to hold significant impact in the near future as the region hosts several decade old oilfields. 

Market Segmentation:

The global offshore decommissioning market segmentation is based upon the following components: type and service type.

By type, the market segments into substructure, topside, and sub-infrastructure.

By service type, the market comprises platform removal, conductor removal, and well plugging and abandonment.

May 21st, 2019, HFW, a worldwide sector focused law firm, made an announcement of helping BIMCO draft an industry standard offshore decommissioning contract.

List of Tables:

TABLE 1 MARKET SYNOPSIS 13 

TABLE 2 UK OFFSHORE DECOMMISSIONING SPENDING FOR 2015 39 

TABLE 3 GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY TYPE, 2015-2023 (USD MILLION) 43 

TABLE 4 GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY SERVICE TYPE, 2015-2023 (USD MILLION) 48 

TABLE 5 GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY APPLICATION, 2015-2023 (USD MILLION) 53 

TABLE 6 GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY REGION, 2016-2023 (USD MILLION) 57 

TABLE 7 EUROPE: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY COUNTRY, 2016-2023 (USD MILLION) 58 

TABLE 8 EUROPE: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY TYPE, 2016-2023 (USD MILLION) 59 

TABLE 9 EUROPE: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY APPLICATION, 2016-2023 (USD MILLION) 60 

TABLE 10 EUROPE: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY SERVICE TYPE, 2016-2023 (USD MILLION) 60 

TABLE 11 U.K.: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY TYPE, 2016-2023 (USD MILLION) 61 

TABLE 12 U.K.: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY APPLICATION, 2016-2023 (USD MILLION) 62 

TABLE 13 U.K.: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY SERVICE TYPE, 2016-2023 (USD MILLION) 62 

TABLE 14 NORWAY: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY TYPE, 2016-2023 (USD MILLION) 63 

TABLE 15 NORWAY: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY APPLICATION, 2016-2023 (USD MILLION) 64 

TABLE 16 NORWAY: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY SERVICE TYPE, 2016-2023 (USD MILLION) 64 

TABLE 17 REST OF EUROPE: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY TYPE, 2016-2023 (USD MILLION) 65 

TABLE 18 REST OF EUROPE: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY APPLICATION, 2016-2023 (USD MILLION) 66 

TABLE 19 REST OF EUROPE: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY SERVICE TYPE, 2016-2023 (USD MILLION) 66

TABLE 20 NORTH AMERICA: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY COUNTRY, 2016-2023 (USD MILLION) 67 

TABLE 21 NORTH AMERICA: GLOBAL OFFSHORE DECOMMISSIONING MARKET, BY TYPE, 2015-2023 (USD MILLION) 68 

Continued…

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