Offshore Decommissioning Market: By Type, By Service, By Application and Geography

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Offshore Decommissioning Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Topside, Substructure, Sub Infrastructure, Others), By Service (Conductor Removal, Well Plugging and Abandonment, Platform removal, Materials disposal, Others), By Application (Deep water, Shallow water) and Region

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Offshore Decommissioning Market size was valued at US$ 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 US$ 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 US$ 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.

Offshore Decommissioning Market Key Developments:
  • In March 2024, Houston-based Vaalco Energy is buying Sweden's Svenska Petroleum Exploration, allowing it to extend its asset collection with an offshore block in Cote d'lvoire, West Africa.
  • On 1 May 2024, The UK's export credit agency has concluded its first transaction to enable offshore oil and gas decommissioning. Ocyan is utilizing UK equipment to remove subsea cables and pipes from offshore oil and gas rigs in Brazilian waters. A $7.5 million UKEF loan guarantee enables Brazilian firm Ocyan to acquire cutting-edge equipment from Scottish company Maritime Developments Ltd.

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Offshore Decommissioning Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

7.7%

Largest Market

Europe

Fastest Growing Market

Europe

Offshore Decommissioning Market Dynamics

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.

Offshore Decommissioning Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 5,905 million

Market Size in 2030

US$ 9,888.5 million

Market CAGR

7.7%

By Type

  • Topside
  • Substructure
  • Sub Infrastructure
  • Others

By Service

  • Conductor Removal
  • Well Plugging and Abandonment
  • Platform removal
  • Materials disposal
  • Others

By Application

  • Deep water
  • Shallow water

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.

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Frequently Asked Questions

The Offshore Decommissioning Market was valued at US$ 5,905 million in 2023 and is projected to reach US$ 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 

Key Market Players

  • Claxton Engineering Services
  • Aker Solutions ASA
  • TechnipFMC PLC
  • Tetra Technologies Inc
  • Allseas Group SA
  • Acteon Group
  • Ramboll Group
  • Baker Hughes Company
  • Petrofac
  • Heerema Marine Contractors

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