Dublin, June 07, 2022 (GLOBE NEWSWIRE) -- The "Enhanced Oil Recovery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global enhanced oil recovery (EOR) market reached a value of US$ 49.84 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 81.45 Billion by 2027, exhibiting a CAGR of 8.28% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor
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. Thermal recovery, gas injection and chemical injection are the most commonly used EOR techniques across the globe. Although most of the EOR technologies are currently used offshore, oil companies are developing technologies to expand onshore EOR methods
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. In line with this, various companies all over the world are engaging in R&D activities to improve oil recovery. For instance, British Petroleum has developed advanced techniques that can extract oil using thermally activated microscopic particles which expand deep into the reservoir
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global enhanced oil recovery market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on technology and application
Breakup by Technology:
Thermal-Enhanced Oil Recovery
Gas-Enhanced Oil Recovery
Chemical-Enhanced Oil Recovery
Thermal-enhanced oil recovery currently accounts for the largest share
Breakup by Application:
Onshore currently accounts for the largest share
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Basf Se, Halliburton Corporation, Royal Dutch Shell Plc, Schlumberger Ltd., Chevron Phillips Chemical Corporation, Fmc Technologies Inc., National Aluminium Company Limited (NALCO), Praxair Inc., Secure Energy Services Inc., Xytel Corporation, Equinor ASA, BP Plc, China Petroleum & Chemical Corporation (Sinopec), Oil and Natural Gas Corporation Ltd. (ONGC), ExxonMobil Corporation, ConocoPhillips, Petroleo Brasileiro (Petrobas) S.A., PJSC Lukoil Oil Company, etc
Key Questions Answered in This Report:
How has the global enhanced oil recovery market performed so far and how will it perform in the coming years?
What are the key regional markets in the global enhanced oil recovery industry?
What has been the impact of COVID-19 on the global enhanced oil recovery market?
What is the breakup of the global enhanced oil recovery market based on the technology?
What is the breakup of the global enhanced oil recovery market based on the application?
What are the various stages in the value chain of the global enhanced oil recovery market?
What are the key driving factors and challenges in the global enhanced oil recovery market?
What is the structure of the global enhanced oil recovery market and who are the key players?
What is the degree of competition in the global enhanced oil recovery market?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Enhanced Oil Recovery Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Technology
5.5 Market Breakup by Application
5.6 Market Breakup by Region
5.7 Market Forecast
6 Market Breakup by Technology
6.1 Thermal-Enhanced Oil Recovery
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Gas-Enhanced Oil Recovery
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Chemical-Enhanced Oil Recovery
6.3.1 Market Trends
6.3.2 Market Forecast
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Application
7.1.1 Market Trends
7.1.2 Market Forecast
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 Basf Se
12.3.2 Halliburton Corporation
12.3.3 Royal Dutch Shell Plc
12.3.4 Schlumberger Ltd.
12.3.5 Chevron Phillips Chemical Corporation
12.3.6 Fmc Technologies Inc.
12.3.7 National Aluminium Company Limited (NALCO)
12.3.8 Praxair Inc.
12.3.9 Secure Energy Services Inc.
12.3.10 Xytel Corporation
12.3.11 Equinor ASA
12.3.12 BP Plc
12.3.13 China Petroleum & Chemical Corporation (Sinopec)
12.3.14 Oil and Natural Gas Corporation Ltd
12.3.15 ExxonMobil Corporation
12.3.17 Petroleo Brasileiro (Petrobas) S.A.
12.3.18 PJSC Lukoil Oil Company
For more information about this report visit https://www.researchandmarkets.com/r/czn161
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