Enhanced Oil Recovery Market Outlook, Competitive Strategies & Forecast up to 2026

The latest research report on Enhanced Oil Recovery market provides a complete investigation of the current and future scenario of this industry domain. It highlights the major trends and avenues that are expanding the business horizon, along with the obstacles & restraints that are arresting the market growth.  The study elaborates on vast historical data and compares it with the latest updates on the various market segmentation to identify business expansion opportunities. It also offers projections pertaining to the market share, volume, sizes, and growth rate over the analysis timeframe. Furthermore, the report talks about invaluable data based on the consumption and pricing patterns, followed by a clear depiction of the competitive arena.

The global enhanced oil recovery (EOR) market is currently witnessing robust growth. Enhanced oil recovery (EOR), also known as tertiary recovery, refers to the process through which otherwise immobile residual oil is mobilized either physically, chemically or thermally. As primary and secondary oil recovery methods can leave up to 75% of the oil in the reservoir, oil extracting companies have started relying on EOR or tertiary oil recovery methods. Enhanced Oil Recovery market industry is poised to raise USD 94.6 billion by 2026. Enhanced Oil Recovery market is valued USD 55.9 billion in 2018 is anticipated to grow USD 94.6 billion with the compounded annual growth of 6.80% over the forecast period 2019-2026.

Over the past few years, the rapid depletion of fossil fuels has contributed to the increasing application of EOR technologies in the oil and gas industry. The rising demand for oil has further added to the growing demand for EOR worldwide. In addition, several governments around the world are taking initiatives for utilizing advanced technologies for oil extraction to achieve higher profits from existing oil and gas fields. For example, countries like China and India are offering financial incentives to attract multinational companies to invest in the enhanced oil recovery market.

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. Enhanced Oil Recovery market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to increasing number of terrestrial laser scanning technologies being increasingly used by the prominent surveying companies for land surveys across the region. North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2016-2026. Factors such as favorable government infrastructure policy and growth in the service sector in the region.

Major market player included in this report are:

Basf Se

Halliburton Corporation

Royal Dutch Shell Plc

Schlumberger Ltd.

Chevron Phillips Chemical Corporation

Fmc Technologies Inc.

NALCO Company

Praxair Technology, Inc.

Secure Energy Services Inc.

Xytel Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:

Thermal-Enhanced Oil Recovery

Gas-Enhanced Oil Recovery

Chemical-Enhanced Oil Recovery

Other Enhanced Oil Recovery Techniques

By Solution:

Onshore

Offshore

By Regions:

North America

U.S.

Canada

Europe

UK

Germany

Asia Pacific

China

India

Japan

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017

Base year – 2018

Forecast period – 2019 to 2026

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Goals and objectives of this Report

  • Understanding the opportunities and progress of Global Market highlights, as well as key regions and countries involved in market growth.
  • Study the different segments of the Global Market and the dynamics of Global Market in the market.
  • Categorize Global Market segments with increasing growth potential and evaluate the futuristic segment market
  • To analyze the most important trends related to the different segments that help to decipher and convince the Global Market.
  • To verify region-specific growth and development in the Global Market.
  • Understand the key stakeholders in the Global Market and the value of the competitive image of the Global Market leaders.
  • To study key plans, initiatives and strategies for the development of the Global Market.

Key questions answered in the report:

  • Which are the five top players of the Global Market?
  • How will the Global Market change in the next five years?
  • Which product and application will take a lion’s share of the Global Market?
  • What are the drivers and restraints of the Global Market?
  • Which regional market will show the highest growth?
  • What will be the CAGR and size of the Global Market throughout the forecast period?

 

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