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    Offshore Decommissioning Market Report

    Offshore Decommissioning Market Report
    Report code - SROG134 Delivery - 2 Weeks
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    Offshore Decommissioning Market Size, Share, Trend, Forecast, & Industry Analysis &nda See more...

    Impact of COVID-19 on Offshore Decommissioning Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Offshore Decommissioning Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Offshore Decommissioning Market Insights

    Offshore Decommissioning Market is likely to witness an impressive CAGR of 4.8% during the forecast period. The major factor contributing to the growth of the market is the growing focus on aging offshore platforms and mature oil and gas fields, particularly in shallow water operations.

    Offshore Decommissioning Market - Snapshot

    Growth

    4.8% for the next five years

    Major Service Type

    Well Plugging & Abandonment

    Major Depth Type

    Shallow Water

    Dominant Structure Type

    Topside

    Dominant Removal Type

    Complete Removal

    Region with the highest demand

    Europe

    Key Players

    Aker Solutions, Ramboll Group, AF Gruppen ASA, Technifmc Plc, John Wood Group Plc, and Tetra Technologies Inc, among others.

     

    Market Share Analysis

    Offshore-Decommissioning-Market-Dominant-Segments

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    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.

    Offshore-Decommissioning-Market-By-Region

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    Some of the major players in the offshore decommissioning market are-

    • Aker Solutions
    • Ramboll Group
    • AF Gruppen ASA
    • Technifmc Plc
    • John Wood Group Plc
    • Tetra Technologies Inc.

     

    Market Scope & Segmentation

    Offshore Decommissioning is a process that involves clogging of the hole in the earth’s surface and disposal of the equipment used in offshore oil production. The process appertains ten steps, which are 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.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Offshore Decommissioning Market Research Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The offshore decommissioning market is segmented into the following categories. 

    Offshore Decommissioning Market Size, Share, & Forecast, by Service Type:

    • Project Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Permitting & Regulatory Compliance (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Platform Preparation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Well Plugging & Abandonment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Conductor Removal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Mobilization & Demobilization of Derrick Barges (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Platform Removal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Pipeline & Power Cable Decommissioning (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Material Disposal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Site Clearance (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Offshore Decommissioning Market Size, Share, & Forecast, by Depth Type:

    • Shallow Water (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Deepwater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Offshore Decommissioning Market Size, Share, & Forecast, by Structure Type:

    • Topsides (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Substructures (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Subsea Infrastructure (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Offshore Decommissioning Market Size, Share, & Forecast, by Removal Type:

    • Complete Removal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Partial Removal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Leave in Place (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Offshore Decommissioning Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the service types by removal type.   

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The offshore decommissioning market is expected o witness an impressive growth of 4.8% CAGR in the foreseeable future.

    Aker Solutions, Ramboll Group, AF Gruppen ASA, Technifmc Plc, John Wood Group Plc, and Tetra Technologies Inc., among several others are among the key players in the offshore decommissioning market.

    Europe is expected to be the fastest growing offshore decommissioning market during the next five years.

    The well plugging & abandonment segment is expected to lead the offshore decommissioning market in the coming years.

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