Offshore decommissioning market is anticipated to grow at a CAGR of 6.1% during the forecast period (2024-2031). Decommissioning involves the safe plugging of the hole in the earth’s surface and disposal of the equipment used in offshore oil production. Decommissioning is a rapidly developing market sector in the petroleum business, with major potential and major risks. It is a source of major liability for counties, operators, contractors, and the public and it must be understood if it is to be managed cost-effectively.
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The offshore decommissioning services market is experiencing a transformative wave with the infusion of green technology, marking a paradigm shift in industry practices. Advancements in robotics, automation, and cutting-edge techniques are elevating efficiency, safety, and cost-effectiveness in decommissioning operations. This green innovation aligns with the emergence of a sustainable techno-economic paradigm, driven by eco-friendly technologies and production methods. As the industry capitalizes on digital technologies, particularly artificial intelligence in Industry 4.0, a new era unfolds. AI applications, ranging from predictive maintenance to fault diagnostics in machinery, promise to significantly reduce downtime, maintenance costs, and safety risks. This holistic integration of green technology and AI stands as a pivotal trend, ushering in a greener, smarter future for the offshore decommissioning services industry or market.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Offshore Decommissioning Market by Service
- Project Management, Engineering & Planning
- Permitting & Regulatory Compliance
- Platform Preparation
- Well Plugging & Abandonment
- Conductor Removal
- Mobilization & Demobilization of Derrick Barges
- Platform Removal
- Pipeline & Power Cable Decommissioning
- Materials Disposal
- Site Clearance
Global Offshore Decommissioning Market by Depth
- Shallow Water
- Deepwater
Global Offshore Decommissioning Market by Structure
- Topside
- Substructure
- Sub Infrastructure
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Able UK Ltd.
- Allseas Group S.A.
- Baker Hughes Co.
- Boskalis
- Claxton Engineering Services Ltd.
- DeepOcean
- Equinor ASA
- Halliburton Energy Services, Inc.
- Heerema International Group
- Linch-pin
- Mactech Offshore Machining & Cutting Solutions
- Petrofac Ltd.
- Ramboll Group A/S
- SAIPEM SpA
- SUBSEA TECH
- Subsea7
- Tetra Technologies, Inc.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global offshore decommissioning market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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