Enhanced Oil Recovery Market - Global Industry Analysis

Enhanced Oil Recovery Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Category: Energy & Mining Report Format : PDF Report Code: ZMR-1177 Status : Upcoming

Description

Global Enhanced Oil Recovery Market: Overview

The enhanced oil recovery is a technique utilized to remove crude oil which cannot be extracted with the conventional methodologies from the oil reservoirs. It is also known as the tertiary recovery procedure as it is carried out after the primary oil recovery and secondary oil recovery. The primary techniques used in the enhanced oil recovery include gas injection, microbial injection, chemical injection, and thermal injection. The thermal recovery technology is widely chosen technique for improving the extraction of oil. The thermal recovery is performed via a reserve heating and fire & steam flooding. Steam or heat is established into the well to decrease the oil viscosity. Thus, rising demand for the enhanced oil recovery around the globe is expected to augment the market growth in the coming period.

Global Enhanced Oil Recovery Market: Growth Factors

The prominent factors responsible for fueling the global enhanced oil recovery market are the amplifying gap between the requirement of oil around the world and its production. Furthermore, the rising requirement of crude oil, elevated recovery rates, increasing numeral of mature oil wells, and encouraging government regulation and programs for producing a suitable infrastructure and enhanced technology for the production of oil are few other factors that are driving the growth of the market. However, environmental issues such as brine contamination and the dropping costs of crude oil may restraint the growth of the market for enhanced oil recovery.

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Enhanced Oil Recovery Market: Segmentation

The global enhanced oil recovery market can be segmented based on application, technology, and geography. The application segment of the market is divided into offshore and onshore. The technology segment of the enhanced oil recovery market is categorized into chemical, thermal, gas injection, and others. Regionally, the market is grouped into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.

Global Enhanced Oil Recovery Market: Regional Analysis

North America is anticipated to lead the global market for enhanced oil recovery in the near future due to the existence of a huge digit of mature wells and an extensive generation of unconventional energy in this region. Asia Pacific region is also projected to grow at a significant rate in the market in the coming period. This growth of the market can be attributed to the fast industrialization and increasing oil & gas industry in this region.

Global Enhanced Oil Recovery Market: Competitive Players

The prominent players in the global enhanced oil recovery market include ExxonMobil Corporation, Cenovus Energy Inc, Chevron Corporation, BP Plc, and Anadarko Petroleum Corporation. The other key players in the market are Petronas, ConocoPhillips, OAO Lukoil, Statoil ASA, and Royal Dutch Shell Plc.

Global Enhanced Oil Recovery Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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