Market Overview:
The global well abandonment services market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. In addition, the growing number of mature wells that need to be abandoned is also contributing to the growth of this market. The global well abandonment services market can be segmented on the basis of type, application and region. On the basis of type, it can be divided into temporarily abandoned and shut-in wells. On the basis of application, it can be classified into offshore and onshore applications. Regionally, it can be segmented into North America, Latin America, Europe Asia Pacific and Middle East & Africa (MEA).
Product Definition:
We provide a range of well abandonment services, from plugging and abandoning wells to reclaiming and restoring the site. Our team has the experience and expertise to safely execute every step of well abandonment, ensuring that your site is properly reclaimed and restored.
Temporarily Abandoned:
Temporarily abandoned well is a well which has been drilled and completed with no production or flow of oil or gas. The term “temporarily” is used because the operations are stopped temporarily due to lack of funding for further drilling activities. These wells can be classified into two types on the basis of their time duration for being abandoned: short-term and long-term.
Shut In:
The shut-in is a well that has been abandoned and sealed at the bottom. It can be used in various applications such as for water supply, injection purposes or for geothermal energy generation. The primary function of the shut-in is to provide isolation from surface water or ground water contamination when a well goes out of production due to natural causes such as an earthquake or other manmade disaster.
Application Insights:
The offshore application segment accounted for the largest revenue share of over 60% in 2017. The growth can be attributed to the rising demand for deep-water wells and long-distance pipelines. Increasing production from existing oil fields has led to a rise in exploration and drilling activities, which has resulted in an increased number of temporarily abandoned wells offshore.
Onshore applications are expected to witness significant growth over the forecast period owing to increasing investments by companies operating onshore as well as offshore facilities. Onshore facilities include conventional oil fields that have been developed and require maintenance activities such as well completions, while additional projects including shale gas extraction are expected to drive industry expansion onshore through 2019. However, high initial investment coupled with low rates of return is anticipated to restrain industry growth onshore through 2030.
Regional Analysis:
North America was the leading revenue contributor in 2017. The region is expected to maintain its position over the forecast period. This can be attributed to increasing offshore drilling activities coupled with growing shale gas exploration in U.S., which is anticipated to drive well abandonment services market growth in North America region over the forecast period.
Asia Pacific, on the other hand, is projected to register a high CAGR during the estimated time owing to increasing oil & gas E&P activities and unconventional reserves availability across various countries such as China, India, Vietnam and Indonesia etc., thus driving well abandonment services market growth in Asia Pacific region over forecast period.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising prices of crude oil in the international market
- Stringent environmental regulations by governments across the world to reduce carbon emissions
- Proliferation of new technologies such as horizontal drilling and hydraulic fracturing that help in extracting hydrocarbons from unconventional sources
- Growing investments by energy companies in Well Abandonment Services market
Scope Of The Report
Report Attributes
Report Details
Report Title
Well Abandonment Services Market Research Report
By Type
Temporarily Abandoned, Shut In
By Application
Offshore, Onshore
By Companies
BHGE, Schlumberger, Halliburton, Weatherford, TechnipFMC
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Well Abandonment Services Market Report Segments:
The global Well Abandonment Services market is segmented on the basis of:
Types
Temporarily Abandoned, Shut In
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Offshore, Onshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BHGE
- Schlumberger
- Halliburton
- Weatherford
- TechnipFMC
Highlights of The Well Abandonment Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Temporarily Abandoned
- Shut In
- By Application:
- Offshore
- Onshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Well Abandonment Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Well abandonment services are a type of environmental remediation service that is used to clean up and remove abandoned wells. Well abandonment services can help to prevent environmental contamination from occurring, as well as help to clean up any existing contamination.
Some of the key players operating in the well abandonment services market are BHGE, Schlumberger, Halliburton, Weatherford, TechnipFMC.
The well abandonment services market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Well Abandonment Services Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Well Abandonment Services Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Well Abandonment Services Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Well Abandonment Services Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Well Abandonment Services Market Size & Forecast, 2018-2028
4.5.1 Well Abandonment Services Market Size and Y-o-Y Growth
4.5.2 Well Abandonment Services Market Absolute $ Opportunity
Chapter 5 Global Well Abandonment Services Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Well Abandonment Services Market Size Forecast by Type
5.2.1 Temporarily Abandoned
5.2.2 Shut In
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Well Abandonment Services Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Well Abandonment Services Market Size Forecast by Applications
6.2.1 Offshore
6.2.2 Onshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Well Abandonment Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Well Abandonment Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Well Abandonment Services Analysis and Forecast
9.1 Introduction
9.2 North America Well Abandonment Services Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Well Abandonment Services Market Size Forecast by Type
9.6.1 Temporarily Abandoned
9.6.2 Shut In
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Well Abandonment Services Market Size Forecast by Applications
9.10.1 Offshore
9.10.2 Onshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Well Abandonment Services Analysis and Forecast
10.1 Introduction
10.2 Europe Well Abandonment Services Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Well Abandonment Services Market Size Forecast by Type
10.6.1 Temporarily Abandoned
10.6.2 Shut In
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Well Abandonment Services Market Size Forecast by Applications
10.10.1 Offshore
10.10.2 Onshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Well Abandonment Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Well Abandonment Services Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Well Abandonment Services Market Size Forecast by Type
11.6.1 Temporarily Abandoned
11.6.2 Shut In
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Well Abandonment Services Market Size Forecast by Applications
11.10.1 Offshore
11.10.2 Onshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Well Abandonment Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Well Abandonment Services Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Well Abandonment Services Market Size Forecast by Type
12.6.1 Temporarily Abandoned
12.6.2 Shut In
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Well Abandonment Services Market Size Forecast by Applications
12.10.1 Offshore
12.10.2 Onshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Well Abandonment Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Well Abandonment Services Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Well Abandonment Services Market Size Forecast by Type
13.6.1 Temporarily Abandoned
13.6.2 Shut In
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Well Abandonment Services Market Size Forecast by Applications
13.10.1 Offshore
13.10.2 Onshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Well Abandonment Services Market: Competitive Dashboard
14.2 Global Well Abandonment Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BHGE
14.3.2 Schlumberger
14.3.3 Halliburton
14.3.4 Weatherford
14.3.5 TechnipFMC
