openPR Logo
Press release

Global Oil & Gas Vessel Decommissioning Market Industry Analysis Forecast 2015 - 2023

12-12-2016 02:05 PM CET | Energy & Environment

Press release from: TMR-Research Reports

Global Oil & Gas Vessel Decommissioning Market Industry

Oil and gas vessel decommissioning has gained momentum in recent years due to the emergence of strict regulations mandating decommissioning of inactive vessels. Vessels used by the oil and gas industry last a significant number of years, but leaving nonoperational oil and gas vessels stranded in the sea comprises a major threat to marine life. Due to this, several environmental regulations mandating decommissioning of oil and gas vehicles have come into effect in the past few years, propelling the global oil and gas vessel decommissioning market.

An oil and gas vessel may also be decommissioned as part of a normal lifecycle, since technological innovation in oil and gas exploration and extraction techniques leads to older vessels becoming obsolete over time. Upgrading them may not always be the financially viable option, leading to decommissioning.

View exclusive Global strategic Business report : http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4577

Increasing Offshore Oil and Gas Exploration to Boost Global Oil and Gas Vessel Decommissioning Market

Due to the increasing scarcity of onshore oil and gas resources, deepwater and ultra-deepwater oil and gas exploration is picking up speed. This presents a significant opportunity for oil and gas vessel decommissioning companies, since setting up a new offshore petroleum extraction site requires decommissioning of the vessels used at the company’s previous site. The increasing number of deepwater and ultra-deepwater oil and gas exploration projects will thus help the global oil and gas vessel decommissioning market.

The rapid pace of innovation in the field of oil and gas vessels is also helping the oil and gas vessel decommissioning market, since vessels are now becoming obsolete quicker than before. This will also aid the global oil and gas vessel decommissioning market.

On the other hand, the high cost of decommissioning an oil and gas vessel is one of the major restraints acting on the global market for the same. The comprehensive activity involved in decommissioning oil and gas vessels raises the cost of the process, which further leads to oil and gas companies trying to avoid it. This will also hamper the global oil and gas vessel decommissioning market in the coming years.

Substructure Decommissioning to Lead Global Oil and Gas Vessel Decommissioning Market

According to type of decommissioning procedure, the global oil and gas vessel decommissioning market is segmented into substructure decommissioning and equipment and topside decommissioning. Among these, substructure decommissioning entails removal of all components of an oil and gas vessel, whereas topside decommissioning only partially removes the components. The total decommissioning achieved through substructure decommissioning is preferred by oil and gas companies, making it the dominant segment of the global oil and gas vessel decommissioning market.

The option of topside decommissioning is only selected when the vessel is too complicated to remove completely. The components removed via either process are reused in new offshore constructions, helping the industry players achieve significant savings in the construction of new exploration and extraction sites.

Complete Report with TOC : http://www.transparencymarketresearch.com/oil-gas-vessel-decommissioning-market.html

Rising Offshore Production off West Africa to Boost RoW Oil and Gas Vessel Decommissioning Market

The major regional segments of the global oil and gas vessel decommissioning market are North America, which includes major oil producers such as the U.S., Canada, and Mexico; Europe, including oil producers with a stake in the North Sea oil and gas reserves; Asia Pacific, dominated by China, Malaysia, and Indonesia; Rest of the World, led by the rising offshore oil and gas production off the coast of West Africa. Among these, the discovery of significant offshore reserves in the Atlantic Ocean off Africa will help the RoW register notable growth in the coming years.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

90 Sate Street, Suite 700
Albany, NY 12207

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Oil & Gas Vessel Decommissioning Market Industry Analysis Forecast 2015 - 2023 here

News-ID: 394488 • Views:

More Releases from TMR-Research Reports

Chemical Mechanical Planarization Market Global Market Opportunity Assessment Study 2024.
Chemical Mechanical Planarization Market Global Market Opportunity Assessment St …
The semiconductor wafer fabrication process includes a critical technological procedure called as chemical mechanical planarization (CMP). The top surface of the wafer is planarized or polished in this procedure to produce a flat surface that is flawless and is essential to make powerful and faster semiconductor devices. Constant improvements in chemical mechanical planarization has significantly helped in enhancing the output of semiconductor devices and that too at a fairly lesser
Oil Storage Market Global Industry Analysis Forecast 2016 – 2024
Oil Storage Market Global Industry Analysis Forecast 2016 – 2024
The global oil storage market is considerably consolidated as the top five players, namely NuStar Energy L.P., Buckeye Partners L.P., Oiltanking GmbH, Kinder Morgan Inc., and Royal Vopak N.V. held over 67% of global market in 2014. Transparency Market Research (TMR) has estimated that the degree of competition will escalate due to increasing investments by some of the key market players. The threat from new entrants is expected to remain
Biofertilizers Market Insights with Key Company Profiles - Forecast to 2025
Biofertilizers Market Insights with Key Company Profiles - Forecast to 2025
A recent intelligence study by Transparency Market Research (TMR) suggests that the global biofertilizers market is largely fragmented, though a few companies do hold slightly dominant position via diverse product portfolio and geographical reach. The report identifies Biomax, PotashCorp Agri Life, Italpollina SpA, Bodisen Biotech, Inc., Protan AG , Novozymes A/S , T. Stanes & Company Limited, Gujarat State Fertilizers and Chemicals Ltd., Symborg S.L, Rashtriya Chemicals and Fertilizers Limited,
Alcohol-Based Disinfectants Market Evolving Industry Trends 2020
Alcohol-Based Disinfectants Market Evolving Industry Trends 2020
The global alcohol-based disinfectants market is foreseen to rake in a high demand in the near future while riding on the ability of the disinfectants to efficiently eliminate germs and evaporate soon after. Besides hand sanitizing, alcohol-based disinfectants could be engaged for other applications such as food sanitization. Since a substantial count of manufacturers perform downstream activities, there could be a high degree of forward integration taking shape in the

All 5 Releases


More Releases for Oil

Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
According to Fact.MR, the sales of cooking oils are expected to increase at a steady pace during the forecast period. The global cooking oil market is projected to expand at a value CAGR of 5.5% during the period of assessment (2017-2026). Also, Fact.MR analysis has revealed that the volume sales of cooking oils is estimated to surpass 250,000,000 tons by the end of the year of assessment (2026). Health advantages associated with
Cooking Oil Market by Region - North America,Latin America,Europe,Japan,APEJ,MEA …
Since several years, cooking oil section in supermarkets and hypermarkets has been a crowded spot, where individuals keep choosing on several cooking oil options available that are healthy to consume. Cooking oil is an essential component in daily cooking activity, be it a restaurant or home. This, in combination with increasing population percentage, especially in emerging economies, is expected to fuel the consumption of cooking oils. However, aspects related to
Specialty Fats and Oils Market (Product Type - Specialty Oils (Corn Oil, Sun Flo …
The global Specialty fats and Oils Market expected to reach a value of US$ 142.1 Bn by 2026. The market projected to grow at a CAGR of 6.6 % in terms of revenue during the forecast period from 2018 to 2026, according to a new research report by Transparency Market Research (TMR). The product manufactured may vary according to the end use application of processing by specialty fats and oils.
Europe Mosquito Repellent Candles Market by Raw Material Type : Citronella Oil, …
Albany, New York, July 17, 2017 : Recent research and the current scenario as well as future market potential of "Mosquito Repellent Candles Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021" globally. Mosquito repellent candles are having huge untapped potential for growth. In contrast to the other categories of mosquito repellent products that are available in the market such as mosquito creams, liquids, coils, and