Offshore Decommissioning Market, By Water Depth, By Service, By Process, By Geography

Description

The offshore decommissioning market is estimated to be valued at USD 7.52 Bn in 2024 and is expected to reach USD 11.39 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 7.52 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	6.10%	2031 Value Projection:	US$ 11.39 Bn

Figure 1.Offshore Decommissioning Market Share (%), By Region, 2024

The offshore decommissioning market refers to the process of abandoning, and permanently shutting down oil and gas infrastructure located offshore, on the seabed or ocean floor at the end of their production lives. Decommissioning of offshore infrastructure involves complex engineering activities such as well plugging, pipeline, and structure removal to safely remove hazardous materials and reduce environmental impact. Stringent government regulations regarding decommissioning along with aging offshore oil and gas assets are driving considerable spending on offshore decommissioning activities globally. Rising costs of operations coupled with discovery of new wells is also prompting companies to decommission aging fields and infrastructure. The global offshore decommissioning market is expected to grow significantly over the next decade supported by maturation of offshore oilfields and investment toward environment-friendly decommissioning operations.

Market Dynamics:

The global offshore decommissioning market is driven by several factors. The aging offshore oil and gas infrastructure has been the primary driver as many platforms and fields were constructed decades ago and are approaching end of economic production life. Growing regulatory focus toward environmental safety during decommissioning is another key factor prompting increased spend. Strict regulations mandate full removal of infrastructure or ensuring they do not pose any hazard after abandonment. Constraints in form of high costs associated with complex deepwater decommissioning projects is a major challenge. However, decommissioning also presents opportunities for market players as oil firms seek to outsource such operations. Innovation toward new technical solutions for infrastructure removal in difficult geographies can help address the high cost challenges.

Key Features of the Study:

This report provides an in-depth analysis of the global offshore decommissioning market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global offshore decommissioning market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Acteon Group Limited, Topicus Finan BV, AF Gruppen ASA, Tetra Technologies Inc., Allseas Group S.A., DeepOcean Group Holding B.V., John Wood Group Plc, Exxon Mobil Corporation, Able UK, Aker Solutions ASA, AF Gruppen S.A., John Wood Group PLC, DNV GL, Heerema Marine Contractors (HMC), DeepOcean Group Holding B.V., Royal Boskalis Westminster N.V., Petrofac, and Boskalis are the major players.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global offshore decommissioning market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global offshore decommissioning market

Market Segmentation

By Service:
- Power Generation
- Removal, Disposal, Remediation and Environmental Studies
- Modelling and Sampling
- Waste Mapping and Handling
- Impact Assessment Program and Decommissioning Plan
- HAZID (Hazard Identification Study) and Safety Screening, Removal of Equipment with NORM
- Stress Analysis, Lifting and Rigging Procedures
- Transportation and Sea Fastening
By Process:
- Material Disposal Site clearance
- Project Management Planning and Engineering
- Permitting Compliance Regulatory Compliance
- Platform Preparation
- Well Plugging and abandonment
- Conductor Removal
- Mobilization & Demobilization of Derrick Barges
- Platform Removal
- Others (Pipeline and Cable Decommissioning, etc.)
By Water Depth:
- Shallow
- Deep Water
- Ultra Deep Water
By Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Acteon Group Limited
- Topicus Finan BV
- AF Gruppen ASA
- Tetra Technologies Inc.
- Allseas Group S.A.
- DeepOcean Group Holding B.V.
- John Wood Group Plc
- Exxon Mobil Corporation
- Able UK
- Aker Solutions ASA
- AF Gruppen S.A.
- John Wood Group PLC
- DNV GL
- Heerema Marine Contractors (HMC)
- DeepOcean Group Holding B.V.
- Royal Boskalis Westminster N.V.
- Petrofac
- Boskalis

Product Code: CMI885

Table of contents

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Decommissioning Service
- Market Snippet, By Process
- Market Snippet, By Water Depth
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend

4. Global Offshore Decommissioning Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting Global Offshore Decommissioning Market - COVID-19
Impact Analysis

5. Global Offshore Decommissioning Market, By Decommissioning Service , 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
A Removal, Disposal, Remediation and Environmental Studies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Modelling and Sampling
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Waste Mapping and Handling
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Impact Assessment Program and Decommissioning Plan
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
HAZID (Hazard Identification Study) and Safety Screening, Removal of Equipment with NORM
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Stress Analysis, Lifting and Rigging Procedures
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Stress Analysis, Lifting and Rigging Procedures
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Transportation and Sea Fastening
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)

6. Global Offshore Decommissioning Market, By Process, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Project Management Planning and Engineering
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Permitting Compliance Regulatory Compliance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Platform Preparation
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Well Plugging and abandonment
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Conductor Removal
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Mobilization & Demobilization of Derrick Barges
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Platform Removal
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Pipeline and Cable Decommissioning
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Material Disposal Site clearance
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)

7. Global Offshore Decommissioning Market, By Water Depth, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Shallow
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Deep Water
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)
Ultra Deep Water
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020 - 2031, (US$ Bn)

8. Global Offshore Decommissioning Market, By Region, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
North America
- Market Share Analysis, By Country, 2023, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2020 - 2031
- Market Size and Forecast, By Decommissioning Service , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Process , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Water Depth, 2019- 2031 (US$ Bn)
- Countries
  - U.S.
  - Canada
  - Latin America
- Market Share Analysis, By Country, 2023, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2020 - 2031
- Market Size and Forecast, By Decommissioning Service , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Process , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Water Depth, 2019- 2031 (US$ Bn)
- Countries
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Europe
- Market Share Analysis, By Country, 2023, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2020 - 2031
- Market Size and Forecast, By Decommissioning Service , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Process , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Water Depth, 2019- 2031 (US$ Bn)
- Countries
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
  - Asia Pacific
- Market Share Analysis, By Country, 2023, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2020 - 2031
- Market Size and Forecast, By Decommissioning Service , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Process , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Water Depth, 2019- 2031 (US$ Bn)
- Countries
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
  - Middle East & Africa
- Market Share Analysis, By Country, 2023, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, By Country, 2020 - 2031
- Market Size and Forecast, By Decommissioning Service , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Process , 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Water Depth, 2019- 2031 (US$ Bn
- Sub-Regions
GCC Countries
Israel
Rest of Middle East & Africa

9. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- Acteon Group Limited
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Topicus Finan BV
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- AF Gruppen ASA
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Tetra Technologies Inc
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- DeepOcean Group Holding B.V.
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- John Wood Group Plc
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Exxon Mobil Corporation.
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Able UK
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Aker Solutions ASA
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- AF Gruppen S.A.
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- John Wood Group PLC
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- DNV GL
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Heerema Marine Contractors (HMC)
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- DeepOcean Group Holding B.V.
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Royal Boskalis Westminster N.V.
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Petrofac
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates
- Boskalis
  - Company Overview
  - Product Portfolio
  - Recent Developments/Updates

10. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Section

References
Research Methodology
About Us and Sales Contact
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