Well Abandonment Services Market Size to Grow by USD 1522.38 Million From 2022 to 2027, Assessment on Parent Market, Five Forces Analysis, Market Dynamics & Segmentation - Technavio

NEW YORK, Nov. 3, 2022 /PRNewswire/ -- The Well Abandonment Services Market share is set to increase by USD 1522.38 million from 2022 to 2027. Moreover, the market's growth momentum will accelerate at a CAGR of 6.37% as per the latest market forecast report by Technavio. The market will also record a 4.43% Y-O-Y growth Rate during the forecast period.

To know more about the historic market size– Request a Free Sample Report!

Technavio categorizes the global well abandonment services market as a part of the global oilfield equipment and services within the global oil and gas market. The global oilfield equipment and services market covers products and companies engaged in upstream exploration and production (E&P) operations, production of equipment or service contracts, and is an important manufacturing sector that caters to the needs of the oil and gas upstream sector.

For more information parent market along with value chain analysis – Grab an Exclusive sample!

The Global Well Abandonment Services Market is fragmented and the five forces analysis by Technavio gives the accurate vision –

• Bargaining Power of Buyers
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• For information on the impact of the five forces analysis– Click Now!
  
  Global Well Abandonment Services Market – Customer Landscape  
• The disruption threats are strategic in nature, and operational risks for suppliers have been mapped based on their negative business impact and probability of occurrence. 
• The potential for the customer landscape will be available with Technavio Reports – Buy Now!

Global Well Abandonment Services Market- Segmentation Assessment

Technavio's market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Well Abandonment Services Market as per geography is categorized into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Well Abandonment Services Market size and actionable market understandings.

• Europe is the fastest-growing region in the Global Well Abandonment Services Market compared to other regions. 47% growth will originate from Europe. The UK, Norway, and Denmark were the three major contributors to the market for well abandonment services in Europe in 2022. Due to a large number of mature offshore oil and gas fields in the North Sea and the strict regulatory environment in the major oil and gas producing nations of the region, decommissioning possibilities are abundant throughout Europe. The UK Continental Shelf (UKCS) has several mature assets that are nearing the end of their useful lifespan, which is projected to increase demand for well abandonment services there. During the projection period, a significant number of oil and gas wells are likely to be decommissioned.

• The Global Well Abandonment Services Market as per Application segmentation is categorized into Offshore and Onshore.
• Revenue Generating Segment - The Offshore category will significantly increase its market share within the anticipated time frame. The well abandonment services market in offshore locations held the biggest share in 2022 because to the high costs associated with offshore operations. This is due to the extremely challenging environment, the requirement for more equipment, and the highly complicated nature of the operations. A large number of mature offshore oil and gas wells, particularly in the GoM and the North Sea, are likely to contribute to the segment's expected strong growth.

Download a FREE Sample Report that can help you to strategize your sales revenue - Get it now!

• An important element fueling the expansion of the global well abandonment services market is the maturation of oil and gas fields. When a producing well reaches the end of its economic life, the output of crude oil or natural gas from that well begins to decline, which leads to the requirement for the abandonment of oil and gas fields.
• The oil or gas well becomes a liability for operators when oil or gas output falls below the well's operating costs and the revenue from the sale of crude oil or natural gas is minimal. At this point, it is no longer economically feasible to continue operations.
• Decommissioning of oil and gas wells takes place in stages, including platform setup, well plugging and abandonment, conductor removal, mobilization and demobilization, and platform removal. Since well abandonment is a step in the well-decommissioning process, the rise in oil fields that are getting older will probably lead to more well-decommissioning activities, which will fuel the expansion of the worldwide well abandonment services market during the forecast period.

• The expansion of the global market for well abandonment services will be fueled by technological advancements in well abandonment methods. Well-decommissioning is a task that is becoming more crucial in the oil and gas sector. Oil and gas firms have made large investments in technologies that could speed up and lower the cost of these crucial processes.
• Due to increasing restrictions and the rising expenses of maintaining and operating outdated oil and gas platforms, operators in the GoM and the North Sea are concentrating more on offshore oil and gas well decommissioning. Additionally, since a rig is not needed, ringless well abandonment is very affordable and suitable for a variety of oil wells. A lot of new technologies are also being developed that save costs and increase project effectiveness. The development of the market is probably being driven by technological advancement in well-decommissioning processes. 

• The expansion of the global market for well abandonment services is significantly hampered by the high costs involved with well abandonment projects. The weight of the items that need to be removed during good abandonment is one of the key elements that determine the project's cost.
• The main emphasis should be on the disconnecting and removal of equipment and machinery as they represent the majority of the project cost in order to provide the most significant possible decrease in the operational costs associated with decommissioning an oil field.
• Since well abandonment costs are high due to the high expenses connected with decommissioning projects, this is anticipated to have a negative impact on the

To know about other factors of market dynamics – Request a Free Sample!

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19-impacted market research reports.

Register for a free trial today and gain instant access to 17,000+ market research reports. 
Technavio's SUBSCRIPTION platform

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist the Global Well Abandonment Services Market growth during the next five years
• Estimation of the Global Well Abandonment Services Market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the Global Well Abandonment Services Market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the Global Well Abandonment Services Market vendors

• The Oilfield Services Market is projected to grow by USD 31.18 billion with a CAGR of 4.36% during the forecast period 2021 to 2026. The report extensively covers oilfield services market segmentation by application (onshore and offshore) and geography (North America, Middle East, and Africa, APAC, Europe, and South America).
• The High-Pressure Oil and Gas Separator Market is projected to grow by USD 142.59 million with a CAGR of 1.09% during the forecast period 2021 to 2026. The high-pressure oil and gas separator market segmentation by application (onshore and offshore), type (horizontal, vertical, and spherical), and geography (the Middle East and Africa, North America, APAC, Europe, and South America).

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 4.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 4.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

5 Market Segmentation by Application

• 5.1 Market segments 
• Exhibit 25: Chart on Application - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Application - Market share 2022-2027 (%)

• 5.2 Comparison by Application 
• Exhibit 27: Chart on Comparison by Application
• Exhibit 28: Data Table on Comparison by Application

• 5.3 Offshore - Market size and forecast 2022-2027
• Exhibit 29: Chart on Offshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on Offshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on Offshore - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Offshore - Year-over-year growth 2022-2027 (%)

• 5.4 Onshore - Market size and forecast 2022-2027
• Exhibit 33: Chart on Onshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Onshore - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Onshore - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Onshore - Year-over-year growth 2022-2027 (%)

• 5.5 Market opportunity by Application 
• Exhibit 37: Market opportunity by Application ($ million)

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 38: Chart on Type - Market share 2022-2027 (%)
• Exhibit 39: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 40: Chart on Comparison by Type
• Exhibit 41: Data Table on Comparison by Type

• 6.3 Permanent - Market size and forecast 2022-2027
• Exhibit 42: Chart on Permanent - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Permanent - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Permanent - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Permanent - Year-over-year growth 2022-2027 (%)

• 6.4 Temporary - Market size and forecast 2022-2027
• Exhibit 46: Chart on Temporary - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Temporary - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Temporary - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Temporary - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 50: Market opportunity by Type ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 52: Chart on Market share by geography 2022-2027 (%)
• Exhibit 53: Data Table on Market share by geography 2022-2027 (%)

• 8.2 Geographic comparison 
• Exhibit 54: Chart on Geographic comparison
• Exhibit 55: Data Table on Geographic comparison

• 8.3 Europe - Market size and forecast 2022-2027
• Exhibit 56: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 8.4 North America - Market size and forecast 2022-2027
• Exhibit 60: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 8.5 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 8.6 APAC - Market size and forecast 2022-2027
• Exhibit 68: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 8.7 South America - Market size and forecast 2022-2027
• Exhibit 72: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 75: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 8.8 US - Market size and forecast 2022-2027
• Exhibit 76: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 79: Data Table on US - Year-over-year growth 2022-2027 (%)

• 8.9 UK - Market size and forecast 2022-2027
• Exhibit 80: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 83: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 8.10 Norway - Market size and forecast 2022-2027
• Exhibit 84: Chart on Norway - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Data Table on Norway - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Chart on Norway - Year-over-year growth 2022-2027 (%)
• Exhibit 87: Data Table on Norway - Year-over-year growth 2022-2027 (%)

• 8.11 Saudi Arabia - Market size and forecast 2022-2027
• Exhibit 88: Chart on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Data Table on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Chart on Saudi Arabia - Year-over-year growth 2022-2027 (%)
• Exhibit 91: Data Table on Saudi Arabia - Year-over-year growth 2022-2027 (%)

• 8.12 China - Market size and forecast 2022-2027
• Exhibit 92: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 95: Data Table on China - Year-over-year growth 2022-2027 (%)

• 8.13 Market opportunity by geography 
• Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 97: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape 
• Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 99: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 100: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 101: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 102: Matrix on vendor position and classification

• 11.3 A Plus Well Service Inc. 
• Exhibit 103: A Plus Well Service Inc. - Overview
• Exhibit 104: A Plus Well Service Inc. - Product / Service
• Exhibit 105: A Plus Well Service Inc. - Key offerings

• 11.4 Acona 
• Exhibit 106: Acona - Overview
• Exhibit 107: Acona - Product / Service
• Exhibit 108: Acona - Key offerings

• 11.5 Acteon Group Ltd. 
• Exhibit 109: Acteon Group Ltd. - Overview
• Exhibit 110: Acteon Group Ltd. - Product / Service
• Exhibit 111: Acteon Group Ltd. - Key offerings

• 11.6 AGR Holdco Ltd. 
• Exhibit 112: AGR Holdco Ltd. - Overview
• Exhibit 113: AGR Holdco Ltd. - Product / Service
• Exhibit 114: AGR Holdco Ltd. - Key offerings

• 11.7 BiSN Oil Tools Ltd. 
• Exhibit 115: BiSN Oil Tools Ltd. - Overview
• Exhibit 116: BiSN Oil Tools Ltd. - Product / Service
• Exhibit 117: BiSN Oil Tools Ltd. - Key offerings

• 11.8 Calfrac Well Services Ltd. 
• Exhibit 118: Calfrac Well Services Ltd. - Overview
• Exhibit 119: Calfrac Well Services Ltd. - Business segments
• Exhibit 120: Calfrac Well Services Ltd. - Key offerings
• Exhibit 121: Calfrac Well Services Ltd. - Segment focus

• 11.9 Coretrax Ltd. 
• Exhibit 122: Coretrax Ltd. - Overview
• Exhibit 123: Coretrax Ltd. - Product / Service
• Exhibit 124: Coretrax Ltd. - Key offerings

• 11.10 Expro Group Holdings NV 
• Exhibit 125: Expro Group Holdings NV - Overview
• Exhibit 126: Expro Group Holdings NV - Business segments
• Exhibit 127: Expro Group Holdings NV - Key offerings
• Exhibit 128: Expro Group Holdings NV - Segment focus

• 11.11 Halliburton Co. 
• Exhibit 129: Halliburton Co. - Overview
• Exhibit 130: Halliburton Co. - Business segments
• Exhibit 131: Halliburton Co. - Key news
• Exhibit 132: Halliburton Co. - Key offerings
• Exhibit 133: Halliburton Co. - Segment focus

• 11.12 NexTier Oilfield Solutions Inc. 
• Exhibit 134: NexTier Oilfield Solutions Inc. - Overview
• Exhibit 135: NexTier Oilfield Solutions Inc. - Business segments
• Exhibit 136: NexTier Oilfield Solutions Inc. - Key offerings
• Exhibit 137: NexTier Oilfield Solutions Inc. - Segment focus

• 11.13 Oceaneering International Inc. 
• Exhibit 138: Oceaneering International Inc. - Overview
• Exhibit 139: Oceaneering International Inc. - Business segments
• Exhibit 140: Oceaneering International Inc. - Key offerings
• Exhibit 141: Oceaneering International Inc. - Segment focus

• 11.14 Petrofac Ltd. 
• Exhibit 142: Petrofac Ltd. - Overview
• Exhibit 143: Petrofac Ltd. - Business segments
• Exhibit 144: Petrofac Ltd. - Key offerings
• Exhibit 145: Petrofac Ltd. - Segment focus

• 11.15 Proserv UK Ltd. 
• Exhibit 146: Proserv UK Ltd. - Overview
• Exhibit 147: Proserv UK Ltd. - Product / Service
• Exhibit 148: Proserv UK Ltd. - Key offerings

• 11.16 Schlumberger Ltd. 
• Exhibit 149: Schlumberger Ltd. - Overview
• Exhibit 150: Schlumberger Ltd. - Business segments
• Exhibit 151: Schlumberger Ltd. - Key offerings
• Exhibit 152: Schlumberger Ltd. - Segment focus

• 11.17 TechnipFMC plc 
• Exhibit 153: TechnipFMC plc - Overview
• Exhibit 154: TechnipFMC plc - Business segments
• Exhibit 155: TechnipFMC plc - Key offerings
• Exhibit 156: TechnipFMC plc - Segment focus

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 157: Inclusions checklist
• Exhibit 158: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 159: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 160: Research methodology
• Exhibit 161: Validation techniques employed for market sizing
• Exhibit 162: Information sources

• 12.5 List of abbreviations 
• Exhibit 163: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio