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Offshore Decommissioning Market Insights Growth Opportunities 2027 – Lead by 1.Acteon Group, AF Gruppen, Aker Solutions, DeepOcean Group, John Wood Group and Petrofac Limited

Oct 22, 2019 3:09 PM ET

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.

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.

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Top Dominating Key Players:

1. Acteon Group Ltd
2. AF Gruppen
3. Aker Solutions
4. DeepOcean Group, Inc.
5. DNV GL (Det Norske Veritas group)
6. Heerema Marine Contractors
7. John Wood Group PLC
8. Petrofac Limited
9. Ramboll Group A/S
10. Subsea 7

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.

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 2017 to 2027 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.

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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.

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