Europe to lead Offshore Decommissioning Market in the Oil & Gas Equipment & Services Industry|Technavio

"The rising investments in renewable energy and the maturing oil and gas fields and aging platforms will further boost market growth during the forecast period", says a senior analyst at Technavio.

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Technavio

Jun 25, 2021, 20:25 ET

NEW YORK, June 25, 2021 /PRNewswire/ -- Europe is expected to lead the offshore decommissioning market with 55% of the market's growth during 2020-2024. The UK and the UAE are the key markets for the offshore decommissioning market in Europe and are expected to offer several growth opportunities to market vendors during the forecast period, says Technavio, a leading market research company.

Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment.
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Technavio's report on "Offshore Decommissioning Market by Service and Geography - Forecast and Analysis 2020-2024" reveals that the market has the potential to reach USD 1.77 billion, progressing at a CAGR of almost 6%.

Leading Regional Analysis of Offshore Decommissioning Market 2020-2024:

Technavio identifies North America as the second-highest country, where the offshore decommissioning market will have the potential to reach USD 1.75 billion by 2024. Factors such as declining crude oil prices, aging platforms, and growing investments in decommissioning activities will drive the demand of the offshore decommissioning market in North America over the forecast period.

APAC will be the third-highest country, where the offshore decommissioning market will have the potential to reach USD 0.72 billion by 2024. Several offshore projects in APAC are likely to increase the potential for the offshore decommissioning market over the forecast period.

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Offshore Decommissioning Market in the Oil & Gas Equipment & Services Industry during 2020-2024: Vendor Analysis and Scope

To help businesses improve their market position, the offshore decommissioning market report provide a detailed analysis of around 25 vendors operating in the market. Some of these vendors include Aker Solutions ASA, General Electric Co., Halliburton Co., John Wood Group Plc, Oceaneering International Inc., Ramboll Group AS, Schlumberger Ltd., TechnipFMC Plc, TETRA Technologies Inc., and Weatherford International Plc

The report also covers the following areas:

  • Offshore Decommissioning Market Size
  • Offshore Decommissioning Market Trends
  • Offshore Decommissioning Market Analysis

Key Topics Covered

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation by Service
  • Market Segmentation by Geography
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

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About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
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Email: [email protected]
Report Page: https://www.technavio.com/report/offshore-decommissioning-market-industry-analysis

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