“Offshore Decommissioning Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on offshore decommissioning market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for offshore decommissioning? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The offshore decommissioning market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Service Type: Project Management, Engineering And Planning; Permitting And Regulatory Compliance; Platform Preparation; Well Plugging And Abandonment; Conductor Removal; Mobilization And Demobilization Of Derrick Barges; Platform Removal; Pipeline And Power Cable Decommissioning; Materials Disposal; Site Clearance
- 2) By Structure Type: Topside; Substructure; Subsea Infrastructure
- 3) By Application: Shallow Water; Deep Water
- Companies Mentioned: Aker Solutions ASA; Ramboll Group A/S; AF Gruppen; TechnipFMC plc; John Wood Group PLC.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the offshore decommissioning market are: Aker Solutions ASA, Ramboll Group A/S, AF Gruppen, TechnipFMC PLC., John Wood Group PLC., Heerema Marine Contractors, Tetra Technologies Inc., Acteon Group Limited, Amec Foster Wheeler , DeepOcean Group Holding AS, Petrofac, Royal Boskalis Westminster N.V., Baker Hughes Company, Halliburton Offshore Services Inc., Schlumberger Limited, Weatherford International PLC., Subsea 7 S.A., and ExxonMobil Corporation.
The global offshore decommissioning market is expected to grow from $5.38 billion in 2022 to $5.82 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The offshore decommissioning market is expected to grow to $7.82 billion in 2027 at a CAGR of 7.7%.
The offshore decommissioning market includes revenues earned by entities by structural tear-down, building material segregation, debris removal, and recycling, pressure washing, surface wipe-down, lead paint or asbestos abatement, storage tank removal, and other types. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Offshore decommissioning refers to the procedure for putting an offshore platform's oil and gas operations to a stop and restoring the seafloor and ocean to the condistion in which they were before the lease was signed.
Europe was the largest region in the offshore decommissionng market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main services of offshore decommissioning are project management, engineering and planning, permitting and regulatory compliance, platform preparation, well plugging and abandonment, conductor removal, mobilization and demobilization of derrick barges, platform removal, pipeline and power cable decommissioning, materials disposal, and site clearance. Project management refers to the entailment of identifying project objectives and checkpoints as well as creating a variety of scenarios and a backup plan. The various structures including topside, substructure, and subsea infrastructure used for different applications such as shallow water, and deep water.
Inc.reasing government investment in well-plugging and abandoned activities are expected to propel the offshore decommissioning market going forward. Well-plugging refers to plugging materials and techniques that permanently shut off an abandoned well from surface drainage contamination. Offshore decommissioning ensures that plugged wells do not leak after abandonment by shutting down offshore oil and gas production at a platform and restoring the ocean and seafloor to their pre-lease state. For instance, in May 2022, according to an article shared by Business Standard, an India-based English-language daily edition newspaper, $33 million would be spent by the US to remediate oil and gas wells on federal property. Further, 277 of the estimated 15k abandoned oil and gas wells on federal land would be clean with approximately $33 million of the $1 trillion bipartisan infrastructure package just signed into law by President Joe Biden. The law would allocate $4.7 billion to repair abandoned oil and gas wells, including those on federal lands. Therefore, increasing government investment is driving the growth of the offshore decommissioning market.
Strategic partnership are a key trend in the offshore decommissioning market. Major players are entering into a partnership to leverage each other's resources and sustain in the market. For instance, in March 2021, Worley, a a US-based company engaged in engineering and design solutions, partnered with Morrison Energy. Through this partnership, Morrison's decommissioning projects will fall under Worley's purview for engineering services. Morrison Energy is a a US-based energy company specialing in offshore decommissioning services.
In March 2022, Claxton, a UK-based lead brand of Acteon's drilling and decommissioning segment, acquired decommissioning personnel and assets from Oceaneering International for an undisclosed amount. This acquisition would strengthen Claxton's position as one of the top international providers of offshore cutting services by increasing its capacity, the variety of technologies at its disposal, and its decommissioning expertise. Oceaneering International is a a US-based service provider for the drilling and decommissioning of offshore oilfields.
The countries covered in the Offshore Decommissioning market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The offshore decommissioning market research report is one of a series of new reports from The Business Research Company that provides offshore decommissioning market statistics, including offshore decommissioning industry global market size, regional shares, competitors with an offshore decommissioning market share, detailed offshore decommissioning market segments, market trends and opportunities, and any further data you may need to thrive in the offshore decommissioning industry. This offshore decommissioning market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Offshore Decommissioning Market Characteristics
3. Offshore Decommissioning Market Trends And Strategies
4. Offshore Decommissioning Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Offshore Decommissioning Market
- 4.2. Ukraine-Russia War Impact On Offshore Decommissioning Market
- 4.3. Impact Of High Inflation On Offshore Decommissioning Market
5. Offshore Decommissioning Market Size And Growth
- 5.1. Global Offshore Decommissioning Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Offshore Decommissioning Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Offshore Decommissioning Market Segmentation
- 6.1. Global Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Project Management, Engineering And Planning
- Permitting And Regulatory Compliance
- Platform Preparation
- Well Plugging And Abandonment
- Conductor Removal
- Mobilization And Demobilization Of Derrick Barges
- Platform Removal
- Pipeline And Power Cable Decommissioning
- Materials Disposal
- Site Clearance
- 6.2. Global Offshore Decommissioning Market, Segmentation By Structure Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Topside
- Substructure
- Subsea Infrastructure
- 6.3. Global Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Shallow Water
- Deep Water
7. Offshore Decommissioning Market Regional And Country Analysis
- 7.1. Global Offshore Decommissioning Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Offshore Decommissioning Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Offshore Decommissioning Market
- 8.1. Asia-Pacific Offshore Decommissioning Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Offshore Decommissioning Market
- 9.1. China Offshore Decommissioning Market Overview
- 9.2. China Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Offshore Decommissioning Market
- 10.1. India Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Offshore Decommissioning Market
- 11.1. Japan Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Offshore Decommissioning Market
- 12.1. Australia Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Offshore Decommissioning Market
- 13.1. Indonesia Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Offshore Decommissioning Market
- 14.1. South Korea Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Offshore Decommissioning Market
- 15.1. Western Europe Offshore Decommissioning Market Overview
- 15.2. Western Europe Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Offshore Decommissioning Market
- 16.1. UK Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Offshore Decommissioning Market
- 17.1. Germany Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Offshore Decommissioning Market
- 18.1. France Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Offshore Decommissioning Market
- 19.1. Eastern Europe Offshore Decommissioning Market Overview
- 19.2. Eastern Europe Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Offshore Decommissioning Market
- 20.1. Russia Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Offshore Decommissioning Market
- 21.1. North America Offshore Decommissioning Market Overview
- 21.2. North America Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Offshore Decommissioning Market
- 22.1. USA Offshore Decommissioning Market Overview
- 22.2. USA Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Offshore Decommissioning Market
- 23.1. South America Offshore Decommissioning Market Overview
- 23.2. South America Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Offshore Decommissioning Market
- 24.1. Brazil Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Offshore Decommissioning Market
- 25.1. Middle East Offshore Decommissioning Market Overview
- 25.2. Middle East Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Offshore Decommissioning Market
- 26.1. Africa Offshore Decommissioning Market Overview
- 26.2. Africa Offshore Decommissioning Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Offshore Decommissioning Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Offshore Decommissioning Market Competitive Landscape And Company Profiles
- 27.1. Offshore Decommissioning Market Competitive Landscape
- 27.2. Offshore Decommissioning Market Company Profiles
- 27.2.1. Aker Solutions ASA
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Ramboll Group A/S
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. AF Gruppen
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. TechnipFMC PLC.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. John Wood Group PLC.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Offshore Decommissioning Market
29. Offshore Decommissioning Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer