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Global Offshore Decommissioning Market By Service (Site Clearance, Material Disposal, Others), By Depth (Shallow Water and Deep Water), By Structure (Topside, Substructure, Others), By Region, Forecast & Opportunities to 2026

The global offshore decommissioning market accounted for a value of USD 5.5 billion in 2019 and is projected to register growth at a CAGR of 4.1% during forecast period.

COVID-19 has impacted the offshore decommissioning market as the supply chain is disrupted due to travel restriction. There are many various projects which are delayed or postponed due to lockdown. All the activities related to offshore decommission is halted around the world due to spread of corona virus.

Definition:

The offshore decommission can be defined as safe and efficient removal and dismantling of platforms and wells which are no longer useful for companies. It has become mandatory in various regions for oil & gas operating companies. It helps in maintaining sanity and safety of offshore environment. It involves 10 steps for successful completion of the project.

Market Dynamics (Drivers/Opportunities):

The aging offshore infrastructure in oil and gas industry is increasing around the world. The offshore oil and gas production activities are increasing around the world. The demand for oil and gas is increasing and the companies are looking for developing new rigs and this increases the decommissioning of aging rig and wells. This drives growth in offshore decommission market during forecast period.

The focus towards mature oil & gas fields are increasing in the world. The prices of crude oil is low and the investment in oil & gas sector is rapidly growing which creates major opportunity in offshore decommissioning market.

Market Insights, by Service

On the basis of service, the offshore decommission market is segmented into site clearance, material disposal, pipeline & power cable decommissioning, platform removal, project management, engineering & planning, permitting & regulatory compliance, platform preparation, well plugging & abandonment, conductor removal and mobilization & demobilization of derrick barges. The well plugging & abandonment estimated to hold largest market share during forecast period. This segment ensures that well do not have any leakage after cessation of production. This is very important segment for wells and widely used by many companies. This drives growth in offshore decommissioning market during forecast period.

Market Insights, by Depth

On the basis of depth, the offshore decommission market is segmented into shallow water and deepwater. The shallow water is estimated to be the fastest growing segment during forecast period. The shallow segment has lower operational costs and the demand for shallow water depth is higher than deepwater. The companies prefer this segment widely and this drives growth in shallow water depth segment during forecast period.

Market Insights, by Structure

On the basis of structure, the offshore decommission market is segmented into topside, sub infrastructure and substructure. The topside segment is estimated to hold largest market share during forecast period. This segment is highly preferred due to its weight decommissioning of topsides and the related equipments required some specialized removal equipment and heavy lift vessel. This drives growth in topside segment during forecast period.

Regional Insights

Europe region is estimated to hold largest market share during forecast period. This region lead the decommissioning market as the decommissioning activities are higher in this region in the world. There are many mature oil and gas field present in this region and the impending cessation of oil and gas fields is likely to be a major growth driving factor. The offshore decommissioning spending is higher in European region then others and this drives growth in Europe region during forecast period.

Key Companies & Market Share Insights

The key market players is offshore decommission industry are Halliburton, Petrofac, Weatherford, Schlumberger, Subsea 7, Technipfmc, John Wood Group, Ramboll, Oceaneering, Bhge, Royal Dutch Shell, Aker Solutions, Rever Offhore, DNV GL, Saipem, Heerema Marine Contractors and Claxton Engineering Services.

Segments Covered in the Report

This report forecasts The Global Offshore Decommission Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global offshore decommission market report on the basis of service, depth and structure.

Offshore Decommission Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Offshore Decommission Market, By Service, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Site Clearance
  • Material Disposal
  • Pipeline & Power Cable Decommissioning
  • Platform Removal
  • Project Management, Engineering & Planning
  • Permitting & Regulatory Compliance
  • Platform Preparation
  • Well Plugging & Abandonment
  • Conductor Removal
  • Mobilization & Demobilization of Derrick Barges
  1. Offshore Decommission Market, By Depth , Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Shallow Water
  • Deep Water
  1. Offshore Decommission Market, By Structure, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Topside
  • Sub Infrastructure
  1. Offshore Decommission Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Service
    • By Depth
    • By Structure
    • By Country
      • USA
        • By Depth
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Service
      • By Depth
      • By Structure
      • By Country
        • Brazil
          • By Depth
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Service
        • By Depth
        • By Structure
        • By Country
          • UK
            • By Depth
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Service
          • By Depth
          • By Structure
          • By Country
            • China
              • By Depth
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Service
            • By Depth
            • By Structure
            • By Country
              • Saudi Arabia
                • By Depth
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Claxton Engineering Services
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Halliburton
    • Petrofac
    • Weatherford
    • Schlumberger
    • Subsea 7
    • Technipfmc
    • John Wood Group
    • Ramboll
    • Oceaneering
    • Bhge
    • Royal Dutch Shell
    • Aker Solutions
    • Rever Offhore
    • DNV GL
    • Saipem
    • Heerema Marine Contractors
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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