Offshore Decommissioning Market to Reach $8.7 Billion by 2025: By Service Type, Structure, Depth & Region - Research and Markets
DUBLIN, May 26, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Offshore Decommissioning Market - Global Forecast to 2025" report to their offering.
The global offshore decommissioning market is projected to grow at a CAGR of 5.05%, from 2017 to 2025, to reach a market size of USD 8.76 billion by 2022. This growth is attributed to increasing focus on mature oil and gas fields and aging offshore platforms, particularly in shallow water.
The report segments the offshore decommissioning market, on the basis of service, into 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. The well plugging and abandonment segment accounted for the largest market share in 2016, driven by demand from the European market. Well plugging and abandonment accounts for up to 45% of the total decommissioning cost of project.
The report also segments the offshore decommissioning market, on the basis of the depth at which decommissioning projects happens, into shallow water and deepwater. The shallow water segment was the largest market and is projected to maintain its edge over the deepwater segment owing to its lower operational costs. However in the future, the deep water segment would compete with shallow water as many platform installations now are at deep water and ultra-deep water depths.
In this report, the offshore decommissioning market has been categorized, on the basis of region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The European market led the offshore decommissioning market, with the largest market share, by value, in 2016, and this trend is projected to continue till 2025. The market in North America will also play an important role in driving demand for offshore decommissioning.
Companies Mentioned
- AF Gruppen ASA
- Able U.K., Ltd.
- Aker Solutions ASA
- Allseas Group S.A.
- Amec Foster Wheeler, PLC
- Claxton Engineering Services, Ltd.
- DNV GL AS
- Deepocean Group Holding B.V.
- Heerema Marine Contractors
- John Wood Group, PLC
- Petrofac Limited
- Ramboll Group
- Subsea 7 S.A.
- Technipfmc, PLC
- Tetra Technologies, Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Offshore Decommissioning Market, By Service Type
7 Offshore Decommissioning Market, By Structure
8 Offshore Decommissioning Market, By Depth
9 Offshore Decommissioning Market, By Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
For more information about this report visit http://www.researchandmarkets.com/research/34t565/offshore
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SOURCE Research and Markets
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