Press release
Well Abandonment Services Market to Witness an Outstanding Growth during 2021 – 2027
Well Abandonment Services Market
Europe is leading the well abandonment services market, garnering largest share, owing to extensive decommissioning activities of offshore oil and gas platforms. It is followed by North America, which is expected to grow at a considerable rate in the near future.
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Key benefits of the report
• This study presents the analytical depiction of the global well abandonment services industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global well abandonment services market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global well abandonment services market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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COVID-19 scenario analysis
The outbreak of COVID-19 across the globe has severely affected the global well abandonment services market.
• Owing to the nationwide lockdown, operation of several industries has significantly decreased along with decrease in the usage of personal and commercial vehicles for transportation. This has resulted in a steep decline in the demand for crude oil, which has resulted in rapid fall in prices. As a result, oil & gas operators had to lower the productivity of reservoirs, which, in turn, negatively impacted the demand for well abandonment services.
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