Oil & Gas Vessel Decommissioning Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2015 - 2023
- Transparency Market Research
Ship decommissioning usually occurs some years after the ship has been commissioned and is a means by which a vessel that has become too old or too obsolete can be retired from the operating fleet. Decommissioning of a vessel may also occur for safety reasons (such a ship\'s nuclear reactor and associated parts reaching the end of their service life), depending on the type of ship being decommissioned. In a limited number of cases a ship may be decommissioned if the vessel in question is judged to be damaged beyond economical repair. Although, the increase in offshore exploration has led to several new oil and gas discoveries, it has also laid a negative impact on the environment. The non-functioning offshore oil and gas platforms and other installations pose a threat to the marine environment and are a major source of marine pollution. The increasing need of offshore exploration activities combined with stringent environmental regulations imposed by governmental organizations has augmented the need for marine vessel decommissioning. Moreover, heavy penalties imposed by governments on any negligence by exploration and production companies have resulted in companies investing further in offshore installation decommissioning.
Recent uptrend in the number of deepwater installations, stringent environmental regulations imposed by different countries, the increase in number of non functional and outdated vessels are the major drivers of the oil and gas vessel decommissioning market. The associated costs involved in decommissioning a vessel and negligence on the part of exploration companies act as major restraints for the market. Rapid depletion of land based resources has led to a rapid shift towards offshore exploration, an activity that presents a significant opportunity to vessel decommissioning service providers.
The segmentation of the oil and gas vessel decommissioning market can be done on the basis of decommissioning procedure and the geographical location of the major offshore oil and gas exploration sites. There are varied processes by which vessel decommissioning can be undertaken. Offshore vessel decommissioning depends on factors such as vessel capacity, operating weather conditions, construction and the product that the vessel handles. The decommissioning of vessels can be broadly classified into substructure, and equipment and topside decommissioning. Substructure decommissioning involves the total or the partial removal of the substructure from the vessel. Topside decommissioning involves recycling and reuse of the equipments and other parts from the vessel. The total decommissioning is the most preferred method and involves the removal of each and every asset from the vessel. The service companies take all the necessary steps from licensing to removal of equipments from the vessel. Partial decommissioning is done in cases where vessels are too complex to be dismantled. These vessels may constitute any concrete installations that are fixed to the hull.
Regional segmentation of oil and gas vessel decommissioning market can be done by identifying the major ports where decommissioning is primarily performed. Major areas include the offshore areas around United States, Canada and Mexico in the Atlantic Ocean and Gulf of Mexico and North Sea in Northern European region. Offshore areas around China, Indonesia, and Malaysia form part of the Asia Pacific region and offshore areas around western Africa constitute Rest of the World.
Some of the major players in the vessel decommissioning market involve companies such as Wood Group, PSN Limited, AMEC, TSB Offshore, Inc., Derrick Services (UK) Ltd. and Worley Parsons Ltd.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.