Worldwide Offshore Decommissioning Market Size to Touch US $ 8.3 Billion by 2028; Offshore Decommissioning Market Share [2021-2028]
The global Offshore Decommissioning Market size is projected to reach USD 8.3 Billion by 2028, from 4.8 Billion in 2022, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. Exactitude Consultancy with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Offshore Decommissioning Market Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis. It also provides market information in terms of development and its capacities.
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Companies Profiled in Offshore Decommissioning Market Report:
Heerema Marine Contractors, Royal Boskalis Westminster N.V., Petrofac, Oceaneering International, Baker Hughes Company, Halliburton, and Schlumberger.
Recent Developments
- In March 2021, Aker Solutions provides the products, systems and services required to unlock energy from sources such as oil, gas, offshore wind and CO₂ capture signed an agreement with Heerema Marine Contractors for decommissioning to the Heimdal and Veslefrikk fields, offshore Norway. The scope includes the reception, dismantling, and recycling of three offshore installations from the Heimdal and Veslefrikk fields.
- In February 2021, Saipem is an Italian multinational oilfield services company and one of the largest in the world. awarded a contract by Qatargas, a contract for the offshore development of the North Field Production sustainability project. The scope includes the engineering, procurement, construction, and installation of various offshore facilities.
- In January 2021, Boskalis is a Dutch dredging and heavylift company that provides services relating to the construction and maintenance of maritime infrastructure internationally. acquired all the shares of the subsea services business of Rever Offshores. Through this acquisition, Boskalis strengthens its current position in the subsea services market in Northwest Europe, Africa, and the Middle East. It has capabilities to serve both the traditional oil & gas market and the rapidly expanding offshore wind market.
Influencing Factors:
- Market Environment: Government Policies, Technological Changes, Market Risks.
- Offshore Decommissioning Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
Offshore Decommissioning Market Forecast:
- Market Size Forecast: Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
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
Regional Outlook
Regions considered in the market are gauged on the basis of performance metrics which differ by economic growth, government support, and investment scenario. Ease of business index and other growth metrics which foster market growth are considered before estimating its value. Figures and statistics from reputed government organizations are included in the report for cementing its value.
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Pre-Post COVID-19 Impact on Global Offshore Decommissioning Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Offshore Decommissioning Market, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global portable generator market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Offshore Decommissioning Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
Key Points From TOC:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers and Acquisitions
5. Global Offshore Decommissioning Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
……………
11. Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis
11.3. Competition Dashboard
11.4. Comparative Analysis — Major Players
12. Company Profiles
12.1 Overview
12.2 Products and Services
12.3 SWOT Analysis
12.4 Recent developments
12.5 Major Investments
12.6 Regional Market Size and Demand
13. Strategic Recommendations
TOC Continued…!
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