Market Size of UK Offshore Oil And Gas Decommissioning Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Offshore Oil And Gas Decommissioning Market Analysis
The United Kingdom offshore oil and gas decommissioning market is expected to register a CAGR of more than 1% over the forecast period.
COVID-19 had a detrimental effect on the market.Presently, the market has reached pre-pandemic levels.
- The market is likely to be driven by things like the decrease in natural gas and crude oil production and the rise in alternative energy sources.
- But the market is likely to be limited by the high cost and high level of expertise needed for decommissioning.
- The North Sea fields are maturing, and the demand for decommissioning is expected to rise as crude oil and natural gas production reduces. This may act as an opportunity for the market players.
