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The global Offshore Decommissioning Market size in 2025 is expected to be $xx million and is expected to grow at 7.2% CAGR during the period till 2030.
The last decade was a decade of Extracting non-renewable energy from the earth. However, the Adverse effect on the environment is pressurizing the world to move towards a more sustainable approach (one of that being use of Renewable energy). Datavagyanik predicts that due to growing awareness of carbon emission and a huge number of oil & gas fields approaching their end of production, the Global Offshore decommissioning spending is expected to reach $70 billion by 2030. Further, governments across the globe have started imposing strict regulations to ensure offshore decommissioning. However, Analysts at Datavagyanik still think that a major chunk of decommissioning spending will come through the Government.
The harsh reality we must accept is, that offshore decommissioning is not going to bring business for Oil extracting companies. So, there is a need for stringent regulation, government support (incentives) as well as low-cost solutions for Oil extracting companies to actively pursue Offshore Decommissioning. The global market for offshore decommissioning is segmented into deepwater & Ultradeep water and shallow water.
The cost of deepwater offshore decommissioning is higher than the cost of shallow water offshore decommissioning. However, Shallow water decommissioning is expected to grow fastest as shallow water is the largest segment due to its low cost. Further, at present, many oil extracting projects are deep or ultra-deepwater, thus, in the future, deep or ultra-deepwater segment is likely to catch up with shallow waters.
In terms of services, well plugging and abandonment will account for almost half of the total expenditure, thus, it is critical to bring down the cost of well plugging & abandonment for the overall project to be cost-efficient. Effective Technology, better project execution, and innovation are key to bringing down the cost of an offshore decommissioning project.
Region-wise the market is split into North America, Europe, APAC, South America, and Middle East & Africa. Europe is the largest market for Offshore decommissioning mainly because of the proactive approach taken by countries.
For Instance, Under OSPAR, the North Sea countries such UK, Norway, etc. have taken responsibility to remove platforms that are not in use anymore. APAC is the second-largest market followed by North America. The United Kingdom, the United States, Norway, and Brazil are the most lucrative market for offshore decommissioning markets. While Australia, Malaysia & Indonesia are the most important market for offshore decommissioning in the APAC region. Angola in Africa & Brazil in the South American region is the prominent market for Offshore decommissioning.
The Offshore Decommissioning market is highly saturated with only a few players accounting for a major chunk of the market. Further, the Top 12 Extractors account for nearly 50% of the total spending on Offshore decommissioning.
The research report titled “Offshore Decommissioning Market, Business and Opportunity Analysis” published by Datavagyanik presents a detailed analysis of the Offshore Decommissioning Market with country-wise market statistics, qualitative insights, and market player analysis. One of the prime objectives of the report is to provide an assessment of the market potential, market revenue, growth, and business opportunities for the Offshore Decommissioning Market in each country.
North America Offshore Decommissioning Market size is expected to be xx million and is expected to grow at a CAGR of xx% during the period till 2030. US & Mexico will drive most of the revenue in the region. North America has the third-largest market. The North America Offshore Decommissioning Market is mainly driven due to increased government focus on plugging abandoned well. For Example, Under the Federal Orphaned well program, in 2021, the USA announced an allocation of $4.7 billion over the next nine years for cleaning orphaned oil and gas wells. Ohio, Oklahoma, Pennsylvania, Texas, California, Kentucky, Louisiana & West Virginia are likely to get more funds than other regions.
The Offshore Decommissioning market in United States is expected to be valued at $xx million by 2025 and register a CAGR of xx% during till 2030.
Europe Offshore Decommissioning Market Size is expected to be xx million and is expected to grow at a CAGR of xx%. UK and Norway are the largest markets for Europe’s Offshore Decommissioning Market. More than one-fifth of the global market share is controlled by the UK while Norway has around 8% share of the global Offshore decommissioning market.
APAC Offshore Decommissioning Market Size is expected to be xx million and is expected to grow at a CAGR of xx%. Australia, Malaysia & Indonesia are the largest markets in the APAC Offshore Decommissioning market.
Middle East Offshore Decommissioning Market Size is estimated to be USD xx billion 2025 and is expected to grow at a CAGR of xx% till 2030
The Offshore Decommissioning market in Saudi Arabia is expected to be valued at $xx million in 2025 and register a CAGR of xx% during till 2030. This report provides an overview of the Offshore Decommissioning in Saudi Arabia, including highlights of key trends over the forecast period and recent developments & regulations related to Offshore Decommissioning. The Saudi Arabian government has encouraged healthcare service providers to adopt advanced infrastructure & technology.
South America Offshore Decommissioning Market Size is estimated to be USD xx billion in 2025 and is expected to grow at a CAGR of xx% till 2030. Brazil, Columbia & Venezuela are the prominent markets for offshore decommissioning in South America. Brazil has nearly 9% share in the global offshore decommissioning market.
The report analyzes Offshore Decommissioning Market from the demand as well as the supply side. In supply-side analysis, we reach out to the Offshore Decommissioning Market players to collect information on their portfolio, revenue, target customers, and other insights. During this process, paid interviews and surveys are conducted for obtaining and validating the data pointers. We also deep dive into the available paid industry databases, research studies, white papers, and annual reports.
As a part of our demand-side analysis, we reach out to the end-users of the Offshore Decommissioning Market, to gauge the application areas, demand trends, and similar insights.
This business analysis report on the Offshore Decommissioning Market presents a regional as well as country-level analysis. The regions covered in the report are – North America, Europe, Asia Pacific, and the Rest of the World. In these four regions, all the countries have been covered in detail with information on Offshore Decommissioning Market size, trends, and forecast.
The report covers Offshore Decommissioning Market revenue and forecast for the period (till 2030), by regions, (further split into countries):
|Offshore Decommissioning Market Revenue ($Million)||XX||XX||XX||XX||XX|
*Note – Country-level break-down has been covered in the report
There is an entire data collection and validation framework that Datavagyanik follows to provide you with authentic information. We connect to industry experts across various countries to understand market trends and demand patterns. The same is done through paid interviews and surveys.
Our internal team of analysts is experts in studying market patterns, mining data, and extracting useful information from different paid as well as freely available sources. Datavagyanik has an exhaustive internal database with information on markets, market players, and other macro and micro economic indicators that impact industries.
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