Market Updates Offshore Decommissioning Market Growth Challenges, | Page 2

The offshore decommissioning market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market could be explored by service type, depth, structure, removal, and geography. Market could be explored by service type as Platform Removal, Well Plugging & Abandonment, Others. The “Well Plugging and Abandonment Service” segment led the offshore decommissioning market in 2016 and will continue to lead in the forecast period. The key factors that could be attributed to the growth of the market include increasing regulatory requirements for appropriate abandonment of unproductive reserves and growing environmental concerns. Based on depth, market could span Shallow and Deepwater. The “Shallow Water” segment led the market in 2016 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of the market include less expensive than Deepwater. The market could be explored based on structure as topsides, other infrastructure. The market could be explored based on removal as Leave in Place, Complete and Partial. Europe accounted for the major share of the market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing oilfields and high expenditure in the North Sea and the UK. The ceasing of foremost oilfields and outstanding governing framework is confirming high pace of offshore decommissioning market in Europe. Europe is followed by North American and Asia-Pacific region owing to maturing oilfields in the Gulf of Mexico with the huge number of platforms decommissioning every year. Furthermore, Asia- Pacific is anticipated to show significant growth rate due to the surge of aging oilfields. Get a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/offshore-decommissioning-market/request-sample Some of the key players that fuel the growth of the offshore decommissioning market comprise Aker Solutions, Petrofac Limited, AF Gruppen, TechnipFMC plc., Deep ocean Group Holding B.V., Ramboll Group, Allseas, Amec Foster Wheeler, PLC., DNV GL AS, and Claxton Engineering Services, Ltd. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry. Market Segment: Geographically, this report is segmented into several key Regions, with production, revenue (million USD), market share and growth rate of Offshore Decommissioning in these regions, from 2013 to 2025 (forecast), covering • North America • Europe • China