The global offshore decommissioning market is estimated to be USD 5.91 billion in 2017, and is expected to grow at a CAGR of 5.05%, from 2017 to 2025. Maturing oil and gas fields and aging offshore infrastructure will drive the market.

The leading players in the industry, based on their recent developments and other strategic industrial activities, are Amec Foster Wheeler Plc (U.K.), Aker Solutions ASA (Norway), Ramboll Grooup (Denmark), AF Gruppen ASA (Norway), Technifmc Plc (France), John Wood Group Plc (U.K.), and Tetra Technologies Inc., (U.S.), among others. 

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Objectives of the Study

• To define, describe, and forecast the global market by service, removal type, depth, structure and region, in terms of value
• To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and industry-specific challenges, influencing the growth of the market
• To strategically analyze the market with respect to individual growth trends, future prospects, and the contribution of each segment to the market
• To strategically profile key players and comprehensively analyze their market shares and core competencies
• To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market

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The report segments the market, on the basis of service, into project management, engineering and planning, permitting and regulatory compliance, platform preparation, well plugging and abandonment, conductor removal, mobilization and demobilization of derrick barges, platform removal, pipeline and power cable decommissioning, materials disposal, and site clearance. The well plugging and abandonment segment accounted for the largest market share in 2016, driven by demand from the European market. Well plugging and abandonment accounts for up to 45% of the total decommissioning cost of project. 

The report also segments the market, on the basis of the depth at which decommissioning projects happens, into shallow water and deepwater. The shallow water segment was the largest market and is projected to maintain its edge over the deepwater segment owing to its lower operational costs. However in the future, the deep water segment would compete with shallow water as many platform installations now are at deep water and ultra-deep water depths.

In this report, the market has been categorized, on the basis of region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The European market led the market, with the largest market share, by value, in 2016, and this trend is projected to continue till 2025. The market in North America will also play an important role in driving demand for offshore decommissioning.