Enhanced Oil Recovery - Global Market Outlook (2016-2022)
According to Stratistics MRC, the Global Enhanced Oil Recovery market is accounted for $25.29 billion in 2015 and is expected to reach $106.4 billion by 2022 growing at a CAGR of 22.8%. Growing demand for energy, reinforcing existing reserves, growing oil demand & imports in Asia Pacific region and depleting oil reserves are some of the major factors driving the global Enhanced Oil Recovery market. Whereas high capital cost, technical and operational challenges are the factors hampering the market growth.
Onshore application segment is estimated to dominate the market owing to the presence of the large number of mature and aged wells in comparison to offshore segment; hence the demand for such technologies is emerging. Moreover, the chemical and gas segment in technology is expected to grow at abundant level attributing to its use in oilfields for enhancing water flooding efficiency and boosting surfactants effectiveness. In addition to that North America is estimated to be the largest market sharing region with affect of mature wells presence in the region. Asia Pacific region is expected to be the fastest growing region, with the industrialization & expansion of oil & gas industry.
Some of the key players of the Enhanced Oil Recovery market include BASF SE, BP P.L.C., Cenovus Energy Inc, Chevron Phillips Chemical Company LP, China Petroleum & Chemical Corporation, ExxonMobil Corporation, Halliburton Corporation, Lukoil Oil Company, Nalco Company, Petroleo Brasileiro S.A, Petroliam Nasional Berhad (Petronas), Praxair Technology, Inc., Praxair Technology, Inc., Royal Dutch Shell plc., Schlumberger Ltd., and Statoil ASA.
Technologies Covered: Thermal enhanced oil recovery Gas/CO2 enhanced oil recovery Microbial and Seismic enhanced oil recovery Chemical enhanced oil recovery Other Technologies
Applications Covered: Offshore Onshore
Regions Covered: North America US Canada Mexico Europe Germany France Italy UK Spain Rest of Europe Asia Pacific Japan China India Australia New Zealand Rest of Asia Pacific Rest of the World Middle East Brazil Argentina South Africa Egypt
What our report offers: Market share assessments for the regional and country level segments Market share analysis of the top industry players Strategic recommendations for the new entrants Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) Strategic recommendations in key business segments based on the market estimations Competitive landscaping mapping the key common trends Company profiling with detailed strategies, financials, and recent developments Supply chain trends mapping the latest technological advancements