According to HTF Market Intelligence, the Global Enhanced Oil Recovery market to witness a CAGR of 4.7% during forecast period of 2023-2028. The market is segmented by Global Enhanced Oil Recovery Market Breakdown by Application (Onshore, Offshore) by Technology (Thermal EOR, Steam, In-situ Combustion, Others(Hot water and Solar), Chemical EOR, Polymer, Surfactant, Alkaline Chemical, Polymer, Foamers, Others, Gas EOR, CO2, Other Gas(Nitrogen and Natural gas), Others (microbial, seismic, simultaneous water alternating gas, and water alternating gas)) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Enhanced Oil Recovery market size is estimated to increase by USD 16.1 Billion at a CAGR of 4.7% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 43.3 Billion.
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Enhanced Oil Recovery (EOR) is a method used to extract oil that is trapped in reservoirs after primary and secondary recovery methods have been exhausted. The EOR market involves the use of advanced technologies and processes to recover oil and increase production. The global EOR market is expected to grow in the coming years, driven by increasing demand for energy, aging oil fields, and declining oil production from conventional sources.
Enhanced Oil Recovery market – Key Segment Analysis
The market share growth by the Onshore, Offshore) by Technology (Thermal EOR, Steam, In-situ Combustion, Others(Hot water and Solar), Chemical EOR, Polymer, Surfactant, Alkaline Chemical, Polymer, Foamers, Others, Gas EOR, CO2, Other Gas(Nitrogen and Natural gas), Others (microbial, seismic, simultaneous water alternating gas, and water alternating gas) segment will be significant during the forecast period. The segment is driven by the Growing Applications of Gas Injection Techniques as Tertiary Recovery Method especially CO2 Injection Techniques.
Enhanced Oil Recovery market – Competition Analysis
The global Enhanced Oil Recovery market is seeing several joint ventures to intensify the capability of manufacturers and/or companies to establish geographic footprints to new territory. The vendors are accelerating M&A strategies to expand their geographical reach, which is shaping the market toward new growth cycle. The list of players that are profiled in the study are The Halliburton Company (United States), Schlumberger Limited (United States), Baker Hughes Inc. (United States), BP Plc. (United Kingdom), Exxon Mobil Corporation (United States), China Petroleum & Chemical Corporation (China), Saudi Aramco (Saudi Arabia), Statoil ASA (Norway), Chevron Corporation (United States), Royal Dutch Shell plc (Netherlands), ConocoPhillips Company (United States), Petroleum Development Oman (Oman).
Enhanced Oil Recovery market – Geographical Outlook
Asia Pacific will provide maximum growth opportunities in Enhanced Oil Recovery market. According to our research, the region will account for xx% of the global market growth during the forecast period. The market in Asia Pacific is driven by Growing Adoption of Chemical Injection Techniques in Oil and Gas Recovery.
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What key data is demonstrated in this Enhanced Oil Recovery market report?
• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Enhanced Oil Recovery market between 2023 and 2028
• Precise estimation of the size of the Enhanced Oil Recovery market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Value in dollar term and growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa; further broken down by major country within region.
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Enhanced Oil Recovery market players
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Some Extracts from Table of Content
Some Extracts from Table of Content
– Overview of Enhanced Oil Recovery Market
– Market dynamics
Growth Drivers, Market Trends, Opportunities and Challenges
– Five Forces Analysis
Bargaining power of buyers, bargaining power of suppliers, Threat of new entrants, Threat of substitutes, Threat of rivalry
– Enhanced Oil Recovery Size (USD & Sales Volume) Comparison by Type (2017-2028)
– Enhanced Oil Recovery Size (USD & Consumption) and Market Share Comparison by Application (2017-2028)
– Enhanced Oil Recovery Size (Value & Volume) Comparison by Region (2017-2028)
– Market Capacity, Production, Export-Import by Region (2017-2022E)
– Enhanced Oil Recovery Market Sales, Revenue and Growth Rate (2017-2028)
– Competitive Situation and Trends
– Market Positioning and Share Analysis (2020-2022E)
– Suppliers High-Performance Operational Base Distribution
– Analyse competitors, Profiles, Sales Area, Product Category
– Enhanced Oil Recovery Cost Analysis
– Marketing Strategy Analysis
– Research Conclusions
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