Offshore Decommissioning Market Emerging Technologies, With 7.6% CAGR, Industry Demand, Global Competitors and Future Scope

The global Offshore Decommissioning Market size was valued at 4.8 Billion in 2022. It is expected to reach a valuation of USD 8.3 Billion by 2028, growing at a CAGR of 7.6% during the forecast period (2023 to 2028).

Offshore Decommissioning Market report is an expert’s study that focuses mostly on businesses, categories, applications, regions, and other subcategories. In addition to this, the reports include an analysis of sales and revenue, as well as trade, competition, investment, and projections. Offshore Decommissioning Market Research studies explore the effects of COVID-19 on the upstream, midstream, and downstream sectors of the industry. In addition, this analysis provides extensive market estimations by putting an emphasis on data covering numerous factors that encompass market dynamics such as market drivers, market barriers, market opportunities, market risks, and industry news and trends.

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Overview of Offshore Decommissioning Market Analysis:

Market Size 2022: US $ 4.8 Billion

Market Size by 2028: US $ 8.3 Billion

CAGR (%): 7.6

Forecast Year: 2023-2028

Base Year: 2022

Companies Profiled in Offshore Decommissioning Market Report:

Heerema Marine Contractors, Royal Boskalis Westminster N.V., Petrofac, Oceaneering International, Baker Hughes Company, Halliburton, and Schlumberger.

Europe to Dominate the Market

• Europe is expected to dominate the market in forecast period due to the region being one of the first markets to use offshore oil & gas infrastructure, most of which are at decommissioning age in recent years and forecast period.
• In Europe, over 950,000 ton of topsides are slated for removal across the North Sea, of which more than 605,000 ton will be from UKCS. The United Kingdom is expected to spend around EUR 15.3 billion on decommissioning, over the next ten years. Approximately, 2,400 wells are expected to be decommissioned across the whole North Sea and West of Shetland region, by 2027. Around 914 of these wells are located across the Norwegian, Danish, and Dutch sectors.
• In 2018, 8% of the overall expenditure of the oil and gas industry in UKCS went into decommissioning, this percentage was expected to grow over 10% in coming years.

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What exactly is included in the Report?

Industry Trends and Developments: In this section, the authors of the research discuss the significant trends and developments that are occurring in the Offshore Decommissioning Market place, as well as their expected impact on the overall growth.

Future Prospects: In this portion of the study, Offshore Decommissioning Market participants are presented with information about the prospects that the global industry is likely to supply them with.

Analysis of the industry’s size and forecast: The industry analysts have provided information on the size of the industry from both a value and volume standpoint, including historical, present and projected figures.

In-Depth Regional Analysis: Vendors are provided with in-depth information about high-growth regions and their particular countries, allowing them to place their money in more profitable areas.

The Competitive Landscape: This section of the study sheds light on the competitive landscape of the Offshore Decommissioning Market by examining the important strategies implemented by vendors to strengthen their position in the Offshore Decommissioning Market.

Study on Industry Segmentation: This section of the study contains a detailed overview of the important Offshore Decommissioning Market segments, which include product type, application, and vertical, among others.

Available Customizations

With the given market data, Exactitude Consultancy offers customizations as per the company’s specific requirements. The following customization options are available for the report:

Product Analysis

• Product matrix provides detailed product information and comparison

Geographic Analysis

• Further breakdown of the North American Offshore Decommissioning Market
• Further breakdown of the European market
• Further breakdown of the APAC market
• Further breakdown of the MEA market
• Further breakdown of the Latin American market

Company Information

• Detailed analysis and profiling of additional market players

Full Table of the Content: https://exactitudeconsultancy.com/reports/1847/offshore-decommissioning-market/#table-of-content

What are the market factors explained in the report?

Key Strategic Developments:   The study includes key strategic developments of the Offshore Decommissioning Market, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.

Key Market Features:   The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Offshore Decommissioning Market dynamics and its latest trends, along with relevant market segments and sub-segments.

Analytical Tools:   The Global Outsourced Offshore Decommissioning Market report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter’s five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.

Offshore Decommissioning Market Segmentation:

By Service Type

• Well Plugging & Abandonment
• Platform Removal
• Conductor Removal

By Depth

• Shallow Water
• Deep Water

By Structure

• Topside
• Substructure

By Removal

• Leave In Place
• Partial
• Complete

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