Offshore Decommissioning Market

Report Code - SE2021529B | Industry - Semiconductor & Electronics | Published on - May, 2021 | Pages - 140 | Format -

Offshore Decommissioning Market by Service and Depth - Global Market Analysis and Forecast (2020 - 2025)




Decommissioning is the final stage of an oil or gas asset's life cycle, occurring after all feasible oil or gas has been extracted. Oilfields and infrastructure must be decommissioned so that the land can be used for other purposes, environmental harm is minimized, and the land can be returned to its former state to the greatest extent possible. Almost all of the world's major oil and gas producing countries have reached the point where some infrastructure has outlived its useful life and is no longer operational. Governments in these countries are developing and enacting legislation to ensure that decommissioning is carried out by regulations, at the lowest possible cost, and with minimal or no environmental impact.

Decommissioning is a time-consuming and difficult procedure. Because it involves sophisticated technological procedures, it necessitates the same specialized crew as commissioning a fully operational platform. As an increasing number of offshore oil and gas assets reach the end of their useful life, the offshore decommissioning market is expected to grow into a multibillion-dollar industry.

The United Kingdom's Continental Shelf is currently regarded as the largest market for offshore decommissioning. The Petroleum Act of 1998 governs the decommissioning procedure in the UK. The Department of Energy and Climate Change (DECC) is in charge of administering and enforcing most policies related to the decommissioning of offshore oil and gas infrastructure and pipelines in the United Kingdom, thanks to laws changed in the Energy Act of 2008. The legislation specifies the procedure for cleaning and filling wells, as well as removing equipment and platforms. According to the law, all provisions of the act about budget allocation, required licenses, and other matters must be followed. Phrases define both total and partial structure removal (keeping some part of the structure to form an artificial reef for ocean life, ensuring minimal environmental impact, for instance).

When a structure is declared decommissionable, it is designated as an obsolete asset. Many platform elements can be reused or repurposed for other projects after returning onshore, or they can be discarded. Decommissioning costs are being reduced as operators are educated on the importance of decommissioning. Decommissioning is one of the most appealing sectors for oil and gas companies looking to capitalize on new opportunities in the energy sector value chain.

The global offshore decommissioning market is to increase from US$ 7,365 million in 2020 to US$ 9,823 million by 2025 with a compound annual growth rate (CAGR) of 5.9% for the period 2020-2025. Some of the prominent players in the offshore decommissioning market are Aker Solutions Asa, Allseas Group, Baker Hughes Company, Deepocean Group, John Wood Group Plc, Petrofac Ltd. , Ramboll Group A/S, Royal Dutch Shell Plc , Schlumberger, Weatherford International Plc. The research report on the global offshore decommissioning market provides extensive competition analysis and competitive conditions. The report includes information on significant products, players, challenges and developments, and other information specific to the offshore decommissioning market. The global economy is highly affected by the COVID-19. Various sectors in the economy are much affected by this pandemic. It is anticipated that the global economy will decline because of the loss of trillions of dollars. The growing extension and imposition of lockdown in various countries directly affect the economy all over the world. The report consists of a chapter that provides a detailed study of the impact of COVID-19 on the offshore decommissioning market. The data in this report is targeted for business and industry practitioners and specifically intended to assist in the explanation, direction, and to understand the potential of the offshore decommissioning markets. The study focuses on providing readers with an understanding of developments in the industry, market segments, market forecasts, leading players, and market drivers and inhibitors.

  • Goals and objectives of the study
    • Understanding the opportunities and advancements of offshore decommissioning is determining the market highlights, along with the foremost regions and countries involved in the growth of the market.
    • To study the diverse segments of the offshore decommissioning market and the dynamics of offshore decommissioning in the market.
    • To categorize segments of offshore decommissioning with escalating growing potential and to value the futuristic market of the segments.
    • To analyze the major trends related to different segments that help in figuring and persuading the offshore decommissioning market.
    • To check region-specific growth and development in the offshore decommissioning market.
    • To understand the foremost stakeholders of the offshore decommissioning market and the value of the competitive landscape of the leaders of the offshore decommissioning market.
    • To study the key plans, initiatives, and strategies for the development of the offshore decommissioning market.

Chapter 2, Market Overview provides an overview of the offshore decommissioning market. The chapter includes macro-economic factors, market determinants (includes market drivers, restraints, opportunities, and challenges), value chain analysis, technology/product roadmap, Porter 5 force model analysis, market growth opportunity analysis.

Chapter 3, Segment Analysis of the study deals with the different sub-segments of the market to calculate reliable market forecasts. The chapter provides an in-depth analysis of the market segments of the offshore decommissioning market, year-on-year growth projections that enable readers to identify potential market growth areas.

  • Market Segmentation
    • Based on service, the global offshore decommissioning market is segmenting into conductor removal, materials disposal, mobilization & demobilization of derrick barges, permitting & regulatory compliance, pipeline & power cable, decommissioning, platform preparation, platform removal, project management, engineering & planning, site clearance, well plugging & abandonment.
    • Based on depth, the offshore decommissioning market is segmenting into shallow water, deepwater.

Chapter 4, Regional Analysis includes an in-depth analysis of the offshore decommissioning market by regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The report also includes a comprehensive analysis of the market in key countries such as the United States, Canada, Germany, France, Italy, Spain, China, India, Japan, the GCC, South Africa, Brazil, Mexico, and the rest of the world. Regional insight helps market competitors to make crucial decisions about their company. Individualized, country-wise, and segment-wise analyses by region allow readers of the offshore decommissioning market report to explore the potential of the market in different geographies. For each year's growth projections and a global share of value, this section is a vital part of the report.

Chapter 5, Competitive Analysis of the report includes company shares analysis, a list of acquisitions, mergers, collaboration, and the introduction of new products.

Chapter 6, Company Profile of the report also covers key industry players working on the offshore decommissioning market. The report also discusses the business strategies adopted by the players at the global, regional, and country-level. The study also focuses on various businesses or inorganic business development strategies for expanding consumer networks through product formation, organization extension, partnerships, mergers, and acquisitions.

The study offers an exhaustive summary and estimate of the global offshore decommissioning market. It includes in-depth qualitative and quantitative analyses in the report that aligned with the goals and objectives of our customers. Projections have been confirmed by comprehensive primary and secondary analysis. The study will encourage clients to invest in the offshore decommissioning market based on the current business situation, trends, and potential developments in the segments. Understanding the requirement of the client, the report delivers specialist insights into the global offshore decommissioning market, its products, and market patterns.

1.Introduction

2.Market Overview
2.1.Global Offshore Decommissioning Market Introduction
2.2.Macro- Economic Factor
2.3.Market Determinants
2.3.1.Market Driver
2.3.2.Market Restraints
2.3.3.Market Opportunities
2.3.4.Market Challenges
2.4.Technology/Product Roadmap
2.5.PEST Analysis
2.6.Market Growth Opportunity Analysis
2.7.Impact of Covid-19 on Offshore Decommissioning Market

3.Market Segmentation
3.1.Global Offshore Decommissioning Market Analysis (US$ Mn), By Service, 2019 – 2025
3.1.1.Conductor Removal
3.1.2.Materials Disposal
3.1.3.Mobilization & Demobilization Of Derrick Barges
3.1.4.Permitting & Regulatory Compliance
3.1.5.Pipeline & Power Cable Decommissioning
3.1.6.Platform Preparation
3.1.7.Platform Removal
3.1.8.Project Management, Engineering & Planning
3.1.9.Site Clearance
3.1.10.Well Plugging & Abandonment
3.2.Global Offshore Decommissioning Market Analysis (US$ Mn), By Depth, 2019 – 2025
3.2.1.Shallow Water
3.2.2.Deepwater

4.Regional Analysis
4.1.North America Offshore Decommissioning Market Analysis (US$ Mn), 2019 - 2025
4.1.1.By Country
4.1.1.1.U.S.
4.1.1.2.Canada
4.1.2.By Service
4.1.3.By Depth
4.2.Europe Offshore Decommissioning Market Analysis (US$ Mn), 2019 - 2025
4.2.1.By Country
4.2.1.1.Germany
4.2.1.2.U.K.
4.2.1.3.France
4.2.1.4.Italy
4.2.1.5.Spain
4.2.1.6.Rest of Europe
4.2.2.By Service
4.2.3.By Depth
4.3.Asia Pacific Offshore Decommissioning Market Analysis (US$ Mn), 2019 - 2025
4.3.1.By Country
4.3.1.1.China
4.3.1.2.Japan
4.3.1.3.India
4.3.1.4.Rest of Asia Pacific
4.3.2.By Service
4.3.3.By Depth
4.4.Middle East & Africa Offshore Decommissioning Market Analysis (US$ Mn), 2019 - 2025
4.4.1.By Country
4.4.1.1.GCC
4.4.1.2.South Africa
4.4.1.3.Rest of Middle East & Africa
4.4.2.By Service
4.4.3.By Depth
4.5.Latin America Offshore Decommissioning Market Analysis (US$ Mn), 2019 - 2025
4.5.1.By Country
4.5.1.1.Brazil
4.5.1.2.Mexico
4.5.1.3.Rest of Latin America
4.5.2.By Service
4.5.3.By Depth

5.Company Profiles
5.1.Aker Solutions Asa
5.2.Allseas Group
5.3.Baker Hughes Company
5.4.Deepocean Group
5.5.John Wood Group Plc
5.6.Petrofac Ltd.
5.7.Ramboll Group A/S
5.8.Royal Dutch Shell Plc
5.9.Schlumberger
5.10.Weatherford International Plc

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