- Topside
- Substructure
- Sub Infrastructure
- Others
Offshore Decommissioning Market size was valued at USD 5,905 million in 2023 and is poised to grow at a 7.7% CAGR over the forecasting years 2024 - 2030. The Offshore Decommissioning Market is projected to reach USD 9,888.5 million by 2030. Surge in number of orphaned wells, the existence of large, established offshore oilfields, and the increased attention and funding provided by governments for well plug and abandoned activities is expected to fuel the demand for offshore decommissioning market. As such, in April 2021, a bill was introduced in the US parliament that would authorize USD 8 billion to clean up abandoned oil wells across the nation to create jobs for oil and gas workers and reduce emissions that contribute to climate change.
Study Period
2024-2030Base Year
2023CAGR
7.7%Largest Market
EuropeFastest Growing Market
Europe
The demand for offshore decommissioning is rising due to increased number of old oil and gasoline platforms across the globe. The main reason for decommissioning an oil field is a decrease in the production of natural gas or crude oil from producing wells. Rules and regulations for offshore oil and gas operations have been created by regulatory bodies in several nations, and this will positively affect market CAGR over the course of the forecast period.
In addition, a surge in the demand for gas and oil is anticipated to propel market growth in the upcoming years. In recent years, the possibility of offshore decommissioning approaches has increased due to low oil prices and challenges in maintaining the fields. The Offshore Decommissioning Market is also being driven by the discovery and improvement of new oil reserves. However, the high cost of decommissioning platforms can vary greatly based on the area, climate, and regulations. It's a challenging operation that requires a variety of tools and skilled workers, which are restraining the market.
By Type
By Service
By Application
The Offshore Decommissioning Market was valued at USD 5,905 million in 2023 and is projected to reach USD 9,888.5 million by 2030, growing at a CAGR of 7.7%.
The increasing government focus on well plug and abandoned activities, as well as increased government expenditure in such programs, are driving the growth of the offshore discharging industry.
The rise in the oil and gas industry is the major trending factor driving the growth of the offshore decommissioning market throughout the anticipated period.
Europe is estimated to dominate with the highest CAGR over the forecast period.
1.Executive Summary |
2.Global Offshore Decommissioning Market Introduction |
2.1.Global Offshore Decommissioning Market - Taxonomy |
2.2.Global Offshore Decommissioning Market - Definitions |
2.2.1.Type |
2.2.2.Application |
2.2.3.Service |
2.2.4.Region |
3.Global Offshore Decommissioning Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Offshore Decommissioning Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Offshore Decommissioning Market By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Topside |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Substructure |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Sub Infrastructure |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Others |
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
6.Global Offshore Decommissioning Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Conductor Removal |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Well Plugging and Abandonment |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Platform removal |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Materials disposal |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Others |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
7.Global Offshore Decommissioning Market By Service, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. Deep water |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Shallow water |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
8.Global Offshore Decommissioning Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Offshore Decommissioning Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Topside |
9.1.2.Substructure |
9.1.3.Sub Infrastructure |
9.1.4.Others |
9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Conductor Removal |
9.2.2.Well Plugging and Abandonment |
9.2.3.Platform removal |
9.2.4.Materials disposal |
9.2.5.Others |
9.3. Service Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Deep water |
9.3.2.Shallow water |
9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10.Europe Offshore Decommissioning Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Topside |
10.1.2.Substructure |
10.1.3.Sub Infrastructure |
10.1.4.Others |
10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Conductor Removal |
10.2.2.Well Plugging and Abandonment |
10.2.3.Platform removal |
10.2.4.Materials disposal |
10.2.5.Others |
10.3. Service Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Deep water |
10.3.2.Shallow water |
10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
11.Asia Pacific (APAC) Offshore Decommissioning Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Topside |
11.1.2.Substructure |
11.1.3.Sub Infrastructure |
11.1.4.Others |
11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Conductor Removal |
11.2.2.Well Plugging and Abandonment |
11.2.3.Platform removal |
11.2.4.Materials disposal |
11.2.5.Others |
11.3. Service Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Deep water |
11.3.2.Shallow water |
11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12.Middle East and Africa (MEA) Offshore Decommissioning Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Topside |
12.1.2.Substructure |
12.1.3.Sub Infrastructure |
12.1.4.Others |
12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Conductor Removal |
12.2.2.Well Plugging and Abandonment |
12.2.3.Platform removal |
12.2.4.Materials disposal |
12.2.5.Others |
12.3. Service Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Deep water |
12.3.2.Shallow water |
12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13.Latin America Offshore Decommissioning Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Topside |
13.1.2.Substructure |
13.1.3.Sub Infrastructure |
13.1.4.Others |
13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Conductor Removal |
13.2.2.Well Plugging and Abandonment |
13.2.3.Platform removal |
13.2.4.Materials disposal |
13.2.5.Others |
13.3. Service Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Deep water |
13.3.2.Shallow water |
13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Claxton Engineering Services |
14.2.2.Aker Solutions ASA |
14.2.3.TechnipFMC PLC |
14.2.4.Tetra Technologies Inc |
14.2.5.Allseas Group SA |
14.2.6.Acteon Group |
14.2.7.Ramboll Group |
14.2.8.Baker Hughes Company |
14.2.9.Petrofac |
14.2.10.Heerema Marine Contractors |
15. Research Methodology |
16. Appendix and Abbreviations |