Offshore Decommissioning Market Analysis of Growth Strategies Adopted By Major Players, Study with focus on Company Profile | Industry Development Analysis, End Users and Regional Outlook To 2023

Market Highlights:-
Offshore Decommissioning Market ensures substantial time and cost savings to the asset owners who can pursue side track drilling and tieback opportunities to maximize the value of their assets. They can actively market their infrastructure for third-party processing or seek to divest. That defines why government worldwide emphases upon these reverse installation processes and approve the refund of taxes paid on extracting oil and gas by these taxpayer companies through an agreement known as decommissioning relief deeds.    

This indicates hundreds of new opportunities requiring novel expertise in the next six years. This also further defines the enormous expenditure sanctioned for decommissioning projects in countries with assets in the North Sea in the UK region during 2018-2023.  The UK being the country with the most offshore infrastructure is expected to account for approximately 60% of these funds. Similarly, the Gulf of Mexico is one of the most actively explored deepwater basins in the world and the most potent and promising market of decommissioning opportunities.

Dominant Players:
The leading vendors operating in the market are Statoil ASA (Norway), Ramboll Group A/S (Denmark), Tetra Technologies, Inc., (U.S.), TechnipFMC PLC (U.K.), Claxton Engineering Services (U.K.), AF Gruppen ASA (Norway), Aker Solutions ASA (Norway), Amec Foster Wheeler (U.K.), BP P.L.C. (U.K.), John Wood Group Plc. (Scotland), Allseas group SA (Switzerland) and DeepOcean Group (Netherlands), DNV GL (Norway) and others.

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Major Point of Virtual Power Plant Market TOC:-
1  Executive Summary
2   Introduction
3   Research Methodology
4   Market Dynamics
5   Market Factor Analysis
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
To be continued.......

Offshore Decommissioning Market   - Competitive Analysis
The embryonic market of offshore decommissioning appears to be competitive yet consolidated.  Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for the leading players.

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Regional Analysis:
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 Middle East and Africa region is supposed to be dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar. The presence of large onshore oil and gas deposits in the Middle East and Africa hampers offshore oil exploration and thus accounts for the disproportionately small size of the market as compared to its petroleum production.

Europe accounts for the most significant share of 70 % regarding global offshore decommissioning market value in 2016, based on the size and volume of the structures, especially in the North Sea. Europe is followed by the North America region led by Mexico owing to the aging platforms most of which are more than 30 years old. The Gulf of Mexico accounts for the most substantial number of facilities requiring decommission with a lower cost structure between USD 0.5 million to 4 million for shallow water structures. The Gulf of Mexico has historically been the most significant region regarding the volume of platforms decommissioned, which is around 4,000. North America offshore decommissioning market was valued at USD 877.1 million in 2016 and which is expected to grow to USD 1,383.3 million by 2023, at a CAGR of 6.83 %.