Offshore platform decommissioning Market Expansion Projected to Gain an Uptick During 2024 - 2030

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Offshore platform decommissioning Market Overview:

Global Offshore platform decommissioning Market study by Market Research Future provides details about the market dynamics affecting this market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years.

Market Research Future analyses that the global Offshore platform decommissioning market which was USD  5.5 Billion in 2022, is expected to reach USD 9 Billion by 2030, and is expected to undergo a CAGR of 7.10% during the forecast period 2023-2030. This indicates the market value. Implementation segment dominates the service segment of the the global Offshore platform decommissioning market, as it manages massive amounts of organized and unstructured dat, documents, records, content across an organization. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Market Research Future team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Regional Analysis

The North American Offshore platform decommissioning market is primarily driven by the aging infrastructure in the Gulf of Mexico. The United States is a major player in this market, with a significant number of offshore platforms reaching the end of their life cycle. Regulatory frameworks and guidelines in the region influence the decommissioning process. The market is also supported by the presence of several specialized Offshore platform decommissioning companies.

Europe has a mature Offshore platform decommissioning market, driven by the aging infrastructure in the North Sea. The United Kingdom and Norway are key players in this region, with a large number of platforms and infrastructure requiring decommissioning. The regulatory framework, including the OSPAR Convention, plays a crucial role in governing decommissioning activities in the North Sea. The market is characterized by advanced technologies and well-established decommissioning practices.

The Asia Pacific region has seen increased Offshore platform decommissioning activities due to the aging infrastructure in countries like Australia, Malaysia, and Thailand. Australia, in particular, has a significant number of oil and gas fields approaching the end of their life cycle, leading to a growing decommissioning market. Regulatory frameworks are evolving in this region, and countries are developing guidelines to govern decommissioning activities.

Key Players:

·       Tetra Technologies Inc. (U.S.)

·       BP P.L.C. (U.K.)

·       Statoil ASA (Norway)

·       DNV GL (Norway)

·       TechnipFMC PLC (U.K.)

·       AF Gruppen ASA (Norway)

·       Ramboll Group A/S (Denmark)

·       Aker Solutions ASA (Norway)

·       Amec Foster Wheeler (U.K.)

·       John Wood Group Plc. (Scotland)

·       Claxton Engineering Services (U.K.)

·       Allseas group SA (Switzerland)

·       DeepOcean Group (Netherlands)

Market Segmentation

Global Offshore Decommissioning Market Size has been segmented into Product Type, Operating Platforms

by Type : Topside , Substructure , Sub Infrastructure

by Service : Well plugging and Abandonment , Conductor Removal , Platform Removal

by Application : Shallow water , Deepwater

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