Well Abandonment Services Market: Historic Industry Size and Analysis of 15 Vendors and 7 Countries - Technavio

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Nov 28, 2022, 07:30 ET

NEW YORK, Nov. 28, 2022 /PRNewswire/ -- The well abandonment services market size is forecast to increase by USD 1522.38 million from 2022 to 2027, at a CAGR of 6.37%, according to the recent market study by Technavio. The growth of the market will be driven by maturing oil and gas fields, regulatory requirements for well abandonment, and the rise of renewable energy.

Technavio has announced its latest market research report titled Global Well Abandonment Services Market 2023-2027

Technavio categorizes the well abandonment services market as a part of the oilfield equipment and services market, which covers products and companies engaged in upstream exploration and production (E&P) operations, production of equipment or service contracts, and is an important manufacturing sector which caters to the needs of oil and gas upstream sector.

Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including A&T Well and Pump, A Plus Well Service Inc., Acona, Acteon Group Ltd., AGR Holdco Ltd., BiSN Oil Tools Ltd., Calfrac Well Services Ltd., Coretrax Ltd., Dan Wood Co., Expro Group Holdings NV, Halliburton Co., M & W Drilling LLC, NexTier Oilfield Solutions Inc., Oceaneering International Inc., and Petrofac Ltd.

Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Expand operations in the future - To get requisite details, ask for a custom report.

Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.

Download the sample to get a holistic overview of the well abandonment services market by industry experts to evaluate and develop growth strategies.

The market is segmented by application (offshore and onshore), type (permanent and temporary), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

Segmentation by Application (Inclusion/Exclusion)

Inclusion:

Offshore:

The offshore segment grew gradually by USD 2,294.34 million in 2017 and continued to grow till 2021. The segment will observe high growth over the forecast period due to the increasing number of matured offshore oil and gas wells in many areas globally, especially in the GoM and the North Sea. The market is also witnessing growth in the number of oil and gas well-decommissioning activities. For instance, in April 2022, Petrofac Ltd. received a contract from the Australian Government Department of Industry, Science, and Resources to decommission Northern Endeavour FPSO. Many such decommissioning activities are expected to be carried out over the forecast period. As a result of these factors, the market will observe strong growth in the segment.

To get detailed insights about inclusions and exclusions, buy report.

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Oilfield Services Market Growth By Application and Geography - Forecast and Analysis - 2022-2026 – size is estimated to increase by USD 31.18 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 4.36%, according to the recent market study by Technavio. The growth in global oil and natural gas demand is one of the key factors driving the market growth.

What are the key data covered in well abandonment services market?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the well abandonment services market between 2023 and 2027
Precise estimation of the size of the well abandonment services market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of well abandonment services market vendors

Well Abandonment Services Market Scope
Report Coverage	Details
Page number	152
Base year	2022
Historical year	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6.37%
Market growth 2023-2027	USD 1522.38 million
Market structure	Fragmented
YoY growth (%)	4.43
Regional analysis	Europe, North America, South America, the Middle East and Africa, and APAC
Performing market contribution	Europe at 47%
Key consumer countries	US, Saudi Arabia, China, UK, and Norway
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	A&T Well and Pump, A Plus Well Service Inc., Acona, Acteon Group Ltd., AGR Holdco Ltd., BiSN Oil Tools Ltd., Calfrac Well Services Ltd., Coretrax Ltd., Dan Wood Co., Expro Group Holdings NV, Halliburton Co., M & W Drilling LLC, NexTier Oilfield Solutions Inc., Oceaneering International Inc., and Petrofac Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

5 Market Segmentation by Application

5.1 Market segments

Exhibit 25: Chart on Application - Market share 2022-2027 (%)
Exhibit 26: Data Table on Application - Market share 2022-2027 (%)

5.2 Comparison by Application

Exhibit 27: Chart on Comparison by Application
Exhibit 28: Data Table on Comparison by Application

5.3 Offshore - Market size and forecast 2022-2027

Exhibit 29: Chart on Offshore - Market size and forecast 2022-2027 ($ million)
Exhibit 30: Data Table on Offshore - Market size and forecast 2022-2027 ($ million)
Exhibit 31: Chart on Offshore - Year-over-year growth 2022-2027 (%)
Exhibit 32: Data Table on Offshore - Year-over-year growth 2022-2027 (%)

5.4 Onshore - Market size and forecast 2022-2027

Exhibit 33: Chart on Onshore - Market size and forecast 2022-2027 ($ million)
Exhibit 34: Data Table on Onshore - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Chart on Onshore - Year-over-year growth 2022-2027 (%)
Exhibit 36: Data Table on Onshore - Year-over-year growth 2022-2027 (%)

5.5 Market opportunity by Application

Exhibit 37: Market opportunity by Application ($ million)

6 Market Segmentation by Type

6.1 Market segments

Exhibit 38: Chart on Type - Market share 2022-2027 (%)
Exhibit 39: Data Table on Type - Market share 2022-2027 (%)

6.2 Comparison by Type

Exhibit 40: Chart on Comparison by Type
Exhibit 41: Data Table on Comparison by Type

6.3 Permanent - Market size and forecast 2022-2027

Exhibit 42: Chart on Permanent - Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Permanent - Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Permanent - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Permanent - Year-over-year growth 2022-2027 (%)

6.4 Temporary - Market size and forecast 2022-2027

Exhibit 46: Chart on Temporary - Market size and forecast 2022-2027 ($ million)
Exhibit 47: Data Table on Temporary - Market size and forecast 2022-2027 ($ million)
Exhibit 48: Chart on Temporary - Year-over-year growth 2022-2027 (%)
Exhibit 49: Data Table on Temporary - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Type

Exhibit 50: Market opportunity by Type ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 52: Chart on Market share by geography 2022-2027 (%)
Exhibit 53: Data Table on Market share by geography 2022-2027 (%)

8.2 Geographic comparison

Exhibit 54: Chart on Geographic comparison
Exhibit 55: Data Table on Geographic comparison

8.3 Europe - Market size and forecast 2022-2027

Exhibit 56: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 57: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 58: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on Europe - Year-over-year growth 2022-2027 (%)

8.4 North America - Market size and forecast 2022-2027

Exhibit 60: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 61: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 62: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 63: Data Table on North America - Year-over-year growth 2022-2027 (%)

8.5 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 64: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 65: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 66: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 67: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

8.6 APAC - Market size and forecast 2022-2027

Exhibit 68: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 69: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 70: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 71: Data Table on APAC - Year-over-year growth 2022-2027 (%)

8.7 South America - Market size and forecast 2022-2027

Exhibit 72: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 73: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 74: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 75: Data Table on South America - Year-over-year growth 2022-2027 (%)

8.8 US - Market size and forecast 2022-2027

Exhibit 76: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 77: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 78: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 79: Data Table on US - Year-over-year growth 2022-2027 (%)

8.9 UK - Market size and forecast 2022-2027

Exhibit 80: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 81: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 82: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 83: Data Table on UK - Year-over-year growth 2022-2027 (%)

8.10 Norway - Market size and forecast 2022-2027

Exhibit 84: Chart on Norway - Market size and forecast 2022-2027 ($ million)
Exhibit 85: Data Table on Norway - Market size and forecast 2022-2027 ($ million)
Exhibit 86: Chart on Norway - Year-over-year growth 2022-2027 (%)
Exhibit 87: Data Table on Norway - Year-over-year growth 2022-2027 (%)

8.11 Saudi Arabia - Market size and forecast 2022-2027

Exhibit 88: Chart on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
Exhibit 89: Data Table on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
Exhibit 90: Chart on Saudi Arabia - Year-over-year growth 2022-2027 (%)
Exhibit 91: Data Table on Saudi Arabia - Year-over-year growth 2022-2027 (%)

8.12 China - Market size and forecast 2022-2027

Exhibit 92: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 93: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 94: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 95: Data Table on China - Year-over-year growth 2022-2027 (%)

8.13 Market opportunity by geography

Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 97: Impact of drivers and challenges in 2022 and 2027

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 99: Overview on factors of disruption

10.4 Industry risks

Exhibit 100: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 101: Vendors covered

11.2 Market positioning of vendors

Exhibit 102: Matrix on vendor position and classification

11.3 A Plus Well Service Inc.

Exhibit 103: A Plus Well Service Inc. - Overview
Exhibit 104: A Plus Well Service Inc. - Product / Service
Exhibit 105: A Plus Well Service Inc. - Key offerings

11.4 Acona

Exhibit 106: Acona - Overview
Exhibit 107: Acona - Product / Service
Exhibit 108: Acona - Key offerings

11.5 Acteon Group Ltd.

Exhibit 109: Acteon Group Ltd. - Overview
Exhibit 110: Acteon Group Ltd. - Product / Service
Exhibit 111: Acteon Group Ltd. - Key offerings

11.6 AGR Holdco Ltd.

Exhibit 112: AGR Holdco Ltd. - Overview
Exhibit 113: AGR Holdco Ltd. - Product / Service
Exhibit 114: AGR Holdco Ltd. - Key offerings

11.7 BiSN Oil Tools Ltd.

Exhibit 115: BiSN Oil Tools Ltd. - Overview
Exhibit 116: BiSN Oil Tools Ltd. - Product / Service
Exhibit 117: BiSN Oil Tools Ltd. - Key offerings

11.8 Calfrac Well Services Ltd.

Exhibit 118: Calfrac Well Services Ltd. - Overview
Exhibit 119: Calfrac Well Services Ltd. - Business segments
Exhibit 120: Calfrac Well Services Ltd. - Key offerings
Exhibit 121: Calfrac Well Services Ltd. - Segment focus

11.9 Coretrax Ltd.

Exhibit 122: Coretrax Ltd. - Overview
Exhibit 123: Coretrax Ltd. - Product / Service
Exhibit 124: Coretrax Ltd. - Key offerings

11.10 Expro Group Holdings NV

Exhibit 125: Expro Group Holdings NV - Overview
Exhibit 126: Expro Group Holdings NV - Business segments
Exhibit 127: Expro Group Holdings NV - Key offerings
Exhibit 128: Expro Group Holdings NV - Segment focus

11.11 Halliburton Co.

Exhibit 129: Halliburton Co. - Overview
Exhibit 130: Halliburton Co. - Business segments
Exhibit 131: Halliburton Co. - Key news
Exhibit 132: Halliburton Co. - Key offerings
Exhibit 133: Halliburton Co. - Segment focus

11.12 NexTier Oilfield Solutions Inc.

Exhibit 134: NexTier Oilfield Solutions Inc. - Overview
Exhibit 135: NexTier Oilfield Solutions Inc. - Business segments
Exhibit 136: NexTier Oilfield Solutions Inc. - Key offerings
Exhibit 137: NexTier Oilfield Solutions Inc. - Segment focus

11.13 Oceaneering International Inc.

Exhibit 138: Oceaneering International Inc. - Overview
Exhibit 139: Oceaneering International Inc. - Business segments
Exhibit 140: Oceaneering International Inc. - Key offerings
Exhibit 141: Oceaneering International Inc. - Segment focus

11.14 Petrofac Ltd.

Exhibit 142: Petrofac Ltd. - Overview
Exhibit 143: Petrofac Ltd. - Business segments
Exhibit 144: Petrofac Ltd. - Key offerings
Exhibit 145: Petrofac Ltd. - Segment focus

11.15 Proserv UK Ltd.

Exhibit 146: Proserv UK Ltd. - Overview
Exhibit 147: Proserv UK Ltd. - Product / Service
Exhibit 148: Proserv UK Ltd. - Key offerings

11.16 Schlumberger Ltd.

Exhibit 149: Schlumberger Ltd. - Overview
Exhibit 150: Schlumberger Ltd. - Business segments
Exhibit 151: Schlumberger Ltd. - Key offerings
Exhibit 152: Schlumberger Ltd. - Segment focus

11.17 TechnipFMC plc

Exhibit 153: TechnipFMC plc - Overview
Exhibit 154: TechnipFMC plc - Business segments
Exhibit 155: TechnipFMC plc - Key offerings
Exhibit 156: TechnipFMC plc - Segment focus

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 157: Inclusions checklist
Exhibit 158: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 159: Currency conversion rates for US$

12.4 Research methodology

Exhibit 160: Research methodology
Exhibit 161: Validation techniques employed for market sizing
Exhibit 162: Information sources

12.5 List of abbreviations

Exhibit 163: List of abbreviations

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