Press release
Latest Research Report on Offshore Decommissioning Market Expected to Grow a CAGR of 6.93% by 2023
The market is driven by a number of factors such as increasing oil and gas platform around the world. Especially in the North Sea region and Gulf of Mexico, the oil and gas industry is determined to remove these structures to reduce environmental penalties and also to reduce operating cost of these aging wells. However, the growth of this market is expected to be hindered by the uncertain cost and strict environmental and regulation laws surrounding the offshore decommissioning projects. The global offshore decommissioning market is expected to grow at 6.93% CAGR during the forecast period. In 2016, the market was led by Europe, with a 70.1% share, followed by North America and Asia-Pacific with shares of 18.9% and 8.9%, respectively.
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The global offshore decommissioning market has been segmented based type, service type, application and by region. On the basis of type, topside structures accounted for the largest market share of 56 % in 2016, with a market value of USD 2,586.4 million and is projected to grow at the highest CAGR of 9.05% during the forecast period. Based on application, shallow water accounted for the largest market share of 71.2 % in 2016, with a market value of USD 3,294.3 million and is projected to grow at a CAGR of 7.98% during the forecast period.
Study Objectives of Global Offshore Decommissioning Market
• To provide insights about factors influencing and affecting the market growth.
• To provide historical and forecast revenue of the market segments as well as sub-segments with respect to regional markets and their key countries
• To provide historical and forecast revenue of the market segments based on type, and capacity.
• To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
Target Audience
• Manufactures
• Raw materials suppliers
• Aftermarket suppliers
• Research institute & education institute
• Potential investors
• Key executive (CEO and COO) and strategy growth manager
Regional Analysis of Global Metal Packaging Market
Europe accounted for the largest market share of 70% in 2016, followed by North America which is expected to grow at a CAGR of 6.83% during the forecast period. North America is expected to grow from a market size of USD 877.1 million in 2016 to USD 1,383.3 million by the end of 2023. Asia-Pacific accounted for a market share of 8.83% in 2016 and is expected to grow at a CAGR of 3.41% during the forecast period.
The regional analysis also includes
• Europe
• U.K.
• Norway
• Rest of Europe
• North America
• U.S.
• Canada
• Asia-Pacific
• Indonesia
• Malaysia
• Australia
• Rest of Asia-Pacific
• Rest of the world
• Latin America
• Middle East
• Africa
The report features:
• Market segmentation
• Market growth and prospects
• Market Trends and Developments
• Market driver analysis
• Market restraint analysis
• Opportunities
• Porter’s Analysis
• PESTLE Analysis
Browse full report with Table of Content @ http://www.reportbazzar.com/product/global-offshore-decommissioning-market-demand-report-forecast-to-2023/
Some Points Of Table Of Content:
1 Executive Summary 12
2 Introduction 14
2.1 Definition 14
2.2 Assumptions 15
2.3 Market Structure 15
3 Research Methodology 16
3.1 Research Process 16
3.2 Primary Research 16
3.3 Secondary Research 17
3.4 Market Size Estimation 17
3.5 Forecast Model 19
4 Market Dynamics 20
4.1 Market Drivers 20
4.1.1 Aging Oil and Gas Fields – A New Source Of Revenue 20
4.1.2 Aging Offshore Infrastructure 20
4.1.3 Reduced Environmental And Regulatory Liabilities 20
4.2 Market Inhibitors 21
4.2.1 High Cost of Decommissioning 21
4.2.2 Lack of Clear Regulations for Decommissioning Activities 21
4.3 Opportunities 21
4.3.1 Rigs to Reef Programs 21
4.3.2 Reducing Risk By Recycling 22
4.4 Major Offshore Decommissioning Projects around the world 22
4.4.1 North Sea Region 22
4.4.2 Table of Approved Offshore Decommissioning Programmes 2015-2017 23
4.5 Regulations for Offshore Decommissioning 24
4.5.1 Introduction 24
4.5.2 International Conventions 25
5 Market Factor Analysis 34
5.1 Porter’s Five Forces Analysis 34
5.1.1 Threat of New Entrants 35
5.1.2 Bargaining Power of Suppliers 35
5.1.3 Threat of Substitutes 35
5.1.4 Bargaining Power of Buyers 35
5.1.5 Rivalry 35
5.2 Supply Chain Analysis 36
5.3 Technology Progress 38
5.4 Technology Risk 38
5.5 Economic change 38
5.6 Political and Environmental Change 40
6 Global Offshore Decommissioning Market, By Type 41
6.1 Overview 42
6.1.1 Topside 44
6.1.2 Substructure 44
6.1.3 Sub Infrastructure 45
7 Global Offshore Decommissioning Market, By Service Type 46
7.1 Overview 47
7.1.1 Well Plugging and Abandonment 49
7.1.2 Conductor Removal 49
7.1.3 Platform Removal 49
7.1.4 Others 50
8 Global Offshore Decommissioning Market, By Application 51
8.1 Overview 52
8.1.1 Shallow Water 54
8.1.2 Deepwater 54
9 Global Offshore decommissioning Market, By Region 55
9.1 Introduction 56
9.2 Europe 57
9.2.1 U.K. 61
9.2.2 Norway 63
9.2.3 Rest of Europe 65
9.3 North America 67
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