According to the new market research report "Enhanced Oil Recovery Market by Technology (Thermal (In-Situ Combustion, Steam, Others), Chemical (Polymer, Surfactant, Alkaline Surfactant Polymer), Gas (CO2, Other Gas), Other EOR), Application (Onshore, Offshore), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Enhanced Oil Recovery Market size will grow to USD 59.4 billion by 2025 (forecast year) from USD 43.3 billion in 2020 (estimated year), at a CAGR of 6.5% during the forecast period. The rising number of mature fields in North America and the Middle East, along with rising primary energy demand from the Asia Pacific, are the driving factors for the Enhanced Oil Recovery Market, globally. Technological developments in advancements in shale oil & gas reserve development, production from oil sand, and deep-water drilling have led oil & gas production across regions, which creates opportunities for growth of the market.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=251660091
The thermal EOR segment is expected to dominate the Enhanced Oil Recovery Market, by technology, during the forecast period.
In thermal EOR, steam is injected to lower the viscosity and improve the
mobility of oil through the reservoir. Itis mainly used in heavy oil
reservoirs to recover several billion barrels of heavy crude oil.
Thermal EOR technology has been deployed in various countries such as
the US, Canada, Venezuela, Oman, China, and Indonesia, with major
projects in operation for many years. The thermal EOR is further
categorized further based on the type as in-situ combustion, steam, and
others. The steam segment is expected to grow at a faster CAGR. Owing to
increasing activities in shale and the development of mature oilfields
in the Gulf of Mexico are likely to drive the steam market.
Browse in-depth TOC on "Enhanced Oil Recovery Market"
118 – Tables
59 – Figures
181 – Pages
View Detailed Table of Content Here:
https://www.marketsandmarkets.com/Market-Reports/enhanced-oil-recovery-market-251660091.html
The onshore segment is expected to be the fastest-growing Enhanced Oil
Recovery Market, by application, during the forecast period.
The onshore segment, by application, the Enhanced Oil Recovery Market is
estimated to grow at the fastest rate during the forecast period. This
is mainly because of the increasing demand for production activities
from new shale development activities in North America. Moreover,
maturing shallow oilfields in the Gulf of Mexico and the North Sea, as
well as increasing investments in offshore EOR projects. Such factors
propel the growth of the Enhanced Oil Recovery Market.
North America likely to emerge as the largest Enhanced Oil Recovery Market
In this report, the Enhanced Oil Recovery Market has been analyzed for
six regions, namely, North America, South America, Europe, Asia Pacific,
Middle East & Africa. The US is the top explorer and producer of
shale oil and gas. Moreover, the rising production of tight oil and
increasing oil sand formations in Alberta propel Enhanced Oil Recovery
Market growth. Thus, North America dominated the Enhanced Oil Recovery
Market during the forecasted period.
Speak to Analyst:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=251660091
To enable an in-depth understanding of the competitive landscape, the
report includes the profiles of some of the top players in the Enhanced
Oil Recovery Market.
Some of the key players are Schlumberger (US), Halliburton (US), Baker
Hughes Company (US), Royal Dutch Shell Plc (Netherlands), BP Plc(UK).
The leading players are adopting various strategies to increase their
share in the Enhanced Oil Recovery Market.
Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting
Browse Related Reports:
Artificial Lift Market by Type (ESP, PCP, Rod Lift, Gas Lift, and
Others); Mechanism(Pump Assisted (Positive Displacement, Dynamic
Displacement), Gas Assisted); Well Type(Horizontal, Vertical);
Application(Onshore, Offshore); Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/artificial-lift-systems-market-879.html
Well Intervention Market by Service (Logging & Bottomhole Survey,
Tubing/Packer Failure & Repair, Stimulation, Artificial Lift), Type
(Light, Medium, Heavy) Application (Onshore, Offshore) Well (Horizontal,
Vertical) Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/well-intervention-market-1099.html
Coiled Tubing Market by Fleet (Operator, Region), Service (Well
Intervention Service (Well Completions & Mechanical Operations, Well
Cleaning & Pumping Operations) Drilling Service, Others),
Application (Onshore, Offshore), Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/coiled-tubing-market-804.html
Oilfield Services Market by Application (Onshore and Offshore), Service
(Well Completion Equipment & Services, Well Intervention Services,
Coiled Tubing Services, Pressure Pumping Services, OCTG, and Wireline
Services), and Region - Global Forecast to 2022
https://www.marketsandmarkets.com/Market-Reports/oilfield-services-market-263907746.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will impact 70% to 80% of
worldwide companies' revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients.
Almost 75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking
global high growth markets following the "Growth Engagement Model –
GEM". The GEM aims at proactive collaboration with the clients to
identify new opportunities, identify most important customers, write
"Attack, avoid and defend" strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™
now coming up with 1,500 MicroQuadrants (Positioning top players across
leaders, emerging companies, innovators, strategic players) annually in
high growth emerging segments. MarketsandMarkets™ is determined to
benefit more than 10,000 companies this year for their revenue planning
and help them take their innovations/disruptions early to the market by
providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market
research platform, "Knowledge Store" connects over 200,000 markets and
entire value chains for deeper understanding of the unmet insights along
with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
