Well Abandonment Services Market|$ 1.09 billion growth expected during 2020-2024|17000+ Technavio Research Reports

NEW YORK, June 15, 2021 /PRNewswire/ -- The well abandonment services market is set to grow by USD 1.09 billion, progressing at a CAGR of over 5% during 2020-2024. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Market Segmentation by Application:

Based on the segmentation by application, the market generated maximum revenue in the offshore segment in 2019. The oil and gas well-decommissioning activities will significantly drive the growth of the offshore segment of the global well abandonment services market. The growth of the market segment will be significant over the forecast period.

Market Segmentation by Geography:

Europe held the largest market share of 65% in 2019, and the region will offer several growth opportunities to market vendors. The growth of the market in Europe can be attributed to the regulatory requirements for well abandonment over the forecast period. The UK and Norway are the key markets for the well abandonment services market in the European region.

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Major Three Well Abandonment Services Market Participants:

Acteon Group Ltd.

Acteon Group Ltd. provides well abandonment services which include vessel charter, project management, engineering, onshore and offshore operations from the initial review of well schematics and assistance with regulatory permit applications to the production of final end of well reports.

Expro Holdings UK2 Ltd

Expro Holdings UK2 Ltd provides services and products that measure, improve, control, and process flow from high-value oil and gas wells, across the full life cycle of the well. This includes a strong focus on mature field production optimization, late field life enhancement, and well decommissioning.

Schlumberger Ltd.

Schlumberger Ltd. offers well abandonment service using a wide range of technologies and integrates third-party services appropriately.

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Well Abandonment Services Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist well abandonment services market growth during the next five years
• Estimation of the well abandonment services market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the well abandonment services market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of well abandonment services market vendors

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Available Customization

Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the well abandonment services market report.

• Further breakdown of the market segmentation in requested regions.
• Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings

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