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Market Snapshot

CAGR:6.86

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	6.86

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Report Overview

The Offshore Decommissioning Services Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the aging offshore infrastructure in the oil and gas industry, the increasing adoption of offshore wind energy, and the need for safe and environmentally responsible decommissioning practices.

Offshore Decommissioning Services Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Offshore Decommissioning Services Market is the aging offshore infrastructure in the oil and gas industry. Many offshore oil and gas platforms and wells have reached the end of their productive life, requiring decommissioning. This process involves safely and efficiently dismantling and removing equipment to mitigate environmental risks.

Furthermore, the increasing adoption of offshore wind energy projects is contributing to market expansion. Offshore wind farms require decommissioning services when turbines reach the end of their operational life. Safe and cost-effective decommissioning practices are essential to maintaining the sustainability of offshore wind energy.

Trends:

An emerging trend shaping the Offshore Decommissioning Services Market is the use of advanced technologies for decommissioning operations. Robotics, remotely operated vehicles (ROVs), and autonomous systems are being employed to perform tasks such as well plugging and abandonment, reducing the exposure of human workers to hazardous environments.

Additionally, there is a growing emphasis on environmental responsibility in decommissioning practices. Sustainable material disposal, site clearance, and environmental site assessments are becoming integral components of decommissioning projects, aligning with global environmental regulations and corporate sustainability goals.

Restraints:

One of the key challenges hindering the growth of the Offshore Decommissioning Services Market is the high cost associated with decommissioning projects. Proper decommissioning requires significant investment in specialized equipment, skilled labor, and compliance with regulatory requirements. Managing costs while ensuring safe and environmentally responsible decommissioning is a complex task.

Moreover, regulatory compliance and permitting can pose challenges to decommissioning projects. Navigating the regulatory landscape and obtaining the necessary permits for offshore decommissioning can be time-consuming and may lead to delays.

Offshore Decommissioning Services Market Segmentation By Application:

Oil & Gas: Decommissioning services in the oil and gas industry involve the removal and disposal of offshore platforms, wells, and associated infrastructure that have reached the end of their productive life.
Wind Energy: Offshore wind energy projects require decommissioning services for the safe removal and disposal of wind turbines and related infrastructure as they reach the end of their operational life.

Offshore Decommissioning Services Market Segmentation By Service Type:

Project Management: Project management services encompass planning, coordination, and execution of the decommissioning project, ensuring it meets safety, regulatory, and environmental requirements.
Engineering and Planning: Engineering and planning services involve the development of decommissioning strategies, engineering designs, and logistical planning for the removal of offshore structures.
Permitting and Regulatory Compliance: This service category focuses on obtaining the necessary permits, licenses, and complying with regulatory requirements throughout the decommissioning process.
Platform Preparation: Platform preparation services include activities such as equipment removal, cleaning, and structural modifications to prepare platforms for decommissioning.
Well Plugging and Abandonment: Well plugging and abandonment services involve the sealing and securing of wells to prevent leaks and environmental contamination.
Conductor Removal: Conductor removal services pertain to the extraction of well conductors and casings as part of decommissioning.
Mobilization and Demobilization: Mobilization and demobilization services encompass the transportation of personnel and equipment to and from the decommissioning site.
Material Disposal: Material disposal services focus on the environmentally responsible disposal of decommissioned equipment and materials.
Site Clearance: Site clearance services involve the removal of all traces of infrastructure, debris, and equipment from the decommissioned site.
Environmental Site Assessment: Environmental site assessment services assess the environmental impact of the decommissioning process and ensure compliance with environmental regulations.

Regional Overview:

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North America: North America's Offshore Decommissioning Services Market benefits from the decommissioning of aging offshore oil and gas infrastructure in the Gulf of Mexico. The region is also witnessing growth in offshore wind energy projects along the Atlantic coast.
Europe: Europe is a significant market for offshore decommissioning, driven by the North Sea's aging oil and gas infrastructure and the expansion of offshore wind farms in the North Sea and Baltic Sea.
Asia-Pacific: The Asia-Pacific region experiences substantial market growth due to offshore decommissioning activities in Southeast Asia, particularly in countries like Malaysia and Thailand. The region is also exploring offshore wind energy projects.

Offshore Decommissioning Services Market Customer Landscape:

The Offshore Decommissioning Services Market serves a diverse customer base, including oil and gas operators, renewable energy companies, government agencies, and environmental organizations. Customers rely on decommissioning services to safely and responsibly remove offshore infrastructure.

Major Offshore Decommissioning Services Companies:

Companies in the offshore decommissioning services market provide expertise and resources for safe and efficient decommissioning projects.

Example companies include:

Baker Hughes Company: Baker Hughes offers a range of decommissioning services, including well plugging and abandonment, material disposal, and environmental site assessment.
Halliburton Company: Halliburton provides project management, engineering, and permitting services for offshore decommissioning projects in the oil and gas sector.
Wood Plc: Wood Plc specializes in engineering and planning services for offshore decommissioning, with a focus on environmental compliance.
TechnipFMC: TechnipFMC offers conductor removal, platform preparation, and mobilization/demobilization services for offshore decommissioning.
Saipem S.p.A.: Saipem offers a range of offshore decommissioning services, including site clearance and environmental site assessment.

The competitive landscape analysis in the report provides insights into key market players, including:

Baker Hughes Company
Halliburton Company
Wood Plc
TechnipFMC
Saipem S.p.A.
Aker Solutions
Petrofac Limited
Subsea 7 S.A.
John Wood Group PLC
Oceaneering International, Inc.

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their specialization, market share, and technological capabilities.

Segment Overview:

The Offshore Decommissioning Services Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Oil & Gas
Wind Energy

Service Type Outlook (USD Million, 2019 - 2032):

Project Management
Engineering and Planning
Permitting and Regulatory Compliance
Platform Preparation
Well Plugging and Abandonment
Conductor Removal
Mobilization and Demobilization
Material Disposal
Site Clearance
Environmental Site Assessment

Geography Outlook (USD Million, 2019 - 2032):

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
Japan
India

Latin America

Brazil
Mexico

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Offshore decommissioning services MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Offshore decommissioning services MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Offshore decommissioning services Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Offshore decommissioning services Of Suppliers

4.5.2. Offshore decommissioning services Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Offshore decommissioning services MARKET BY Water depth landscape

SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Shallow Water

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Deepwater and Ultra-Deepwater

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Offshore decommissioning services MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 End user 1

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 End user 2

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 End user 3

6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Offshore decommissioning services MARKET REGIONAL OUTLOOK

7.1. Offshore decommissioning services Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027 (USD Million)

7.2.2. North America Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Offshore decommissioning services Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Offshore decommissioning services Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Offshore decommissioning services Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Offshore decommissioning services Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Offshore decommissioning services Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Aker Solutions ASA

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 AF Gruppen S.A

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 John Wood Group PLC

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Able UK

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Allseas Group

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Company 6

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Offshore Decommissioning Services Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032