Offshore Decommissioning Market Overview, Growth, and Oppotunities by 2031

MARKET INTRODUCTION

The offshore decommissioning involves safe and efficient dismantling and removal of wells and platforms that are no longer useful for companies. A rising number of offshore rigs that are nearing their decommissioning age are contributing profoundly to the market growth. Moreover, improvement in regulatory frameworks and newer guidelines provide favorable opportunities for the key players of the target market over the coming years.

MARKET DYNAMICS

The offshore decommissioning market is anticipated to grow in the forecast period owing to driving factors such as the increasing number of aging offshore infrastructure and maturing oil and gas fields. Stringent government regulations concerning the abandonment and plugging of offshore operations are further likely to fuel the growth of the market. However, the high cost of decommissioning projects is expected to hinder the growth of offshore decommissioning market during the forecast period. On the other hand, technological innovations offer lucrative opportunities for the market players.

MARKET SCOPE

The "Global Offshore Decommissioning Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of offshore decommissioning market with detailed market segmentation by type, service type, application, and geography. The global offshore decommissioning market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading offshore decommissioning market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global offshore decommissioning market is segmented on the basis of type, service type, and application. Based on type, the market is segmented as topside, substructure, and sub infrastructure. On the basis of the service type, the market is segmented as well plugging and abandonment, conductor removal, platform removal, and others. The market on the basis of the application is classified as shallow water and deepwater.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global offshore decommissioning market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The offshore decommissioning market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting offshore decommissioning market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the offshore decommissioning market in these regions.

MARKET PLAYERS

The reports cover key developments in the offshore decommissioning market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from offshore decommissioning market are anticipated to lucrative growth opportunities in the future with the rising demand for offshore decommissioning in the global market. Below mentioned is the list of few companies engaged in the offshore decommissioning market.

The report also includes the profiles of key offshore decommissioning companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

•  Acteon Group Ltd
•  AF Gruppen
•  Aker Solutions
•  DeepOcean Group, Inc.
•  DNV GL (Det Norske Veritas group)
•  Heerema Marine Contractors
•  John Wood Group PLC
•  Petrofac Limited
•  Ramboll Group A/S
•  Subsea 7

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Offshore Decommissioning Report Scope