Enhanced Oil Recovery (EOR) Market Forecasts to 2028 – Global Analysis By Technology (Chemical Injection, Thermal Injection, Gas Enhanced Oil Recovery, Microbial, Other Technologies) and By Geography
According to Stratistics MRC, the Global Enhanced Oil Recovery (EOR) Market is accounted for $43.30 billion in 2020 and is expected to reach $83.16 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Factors such as rising primary energy consumption, increasing number of maturing oil fields, and growing oil demand are driving the growth of the market. However, growing adoption of renewable energy is hampering the growth of the market.
Enhanced oil recovery (EOR) refers to the extraction of crude oil from an oil field that cannot otherwise be extracted. It is also known as tertiary oil recovery and is highly efficient as it can extract more oil from reservoirs when compared to primary and secondary recovery.
Based on the application, the onshore segment is anticipated to expand at a rapid pace during the forecast period due to its lower conventional extraction costs. By geography, North America is going to have high growth during the forecast period which can be attributed to the continuous development in shale reserves of the region.
Some of the key players profiled in the Enhanced Oil Recovery (EOR) Market include Schlumberger, Baker Hughes Company, Halliburton, Titan Oil Recovery Inc, BASF SE, Ultimate EOR Services, Xytel Corporation, Secure Energy Services, Championx, Linde PLC, RCS Group of Companies, Exterran Corporation, Premier Energy, Croda International Plc, and Air Liquide.
• Chemical Injection
• Thermal Injection
• Gas Enhanced Oil Recovery
• Other Technologies
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- 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
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