The process of extracting the remaining oil from the field by tertiary methods is known as Enhanced Oil Recovery (EOR). Oil recovery from primary and secondary methods cumulatively amounts to 30% to 40% of total oil in reserve, remaining oil gets trapped between the rocks because of pressure reduction, which is extracted by using EOR methods. Global enhanced oil recovery market is directly being governed by macroeconomic factors such as GDP, industrial growth, slow economic growth/recession, crude oil prices, etc. Other major factors influencing the growth of global enhanced oil recovery market are maturing oilfield, upcoming/ongoing EOR projects, year on year change in energy consumption pattern and anticipated change in oil demand until 2022. Moreover, increasing global energy demand and high productivity levels achievable by using EOR techniques are expected to positively influence global enhanced oil recovery market over the next five years.
According to “Global Enhanced Oil Recovery Market By Onshore Vs. Offshore, By Type, By Region, Competition Forecast & Opportunities, 2012 – 2022”, the global market of enhanced oil recovery is anticipated to cross $11.50 Billion by 2022. On the basis of type, global enhanced oil recovery market has been broadly segmented into thermal, miscible gas, chemical & others. Among these categories, thermal-based EOR methods dominated global enhanced oil recovery market in 2016, and the segment is expected to maintain its dominance over the next five years as well, as they are cost effective and have maximum success rate. North America is the largest consumer of enhanced oil recovery methods across the globe. Oil production in North America is expected to grow at a robust pace during 2017-2022 due to shale gas revolution. “Global Enhanced Oil Recovery Market By Onshore Vs. Offshore, By Type, By Region, Competition Forecast & Opportunities, 2012 – 2022” discusses the following aspects of global enhanced oil recovery market:
- Global Enhanced Oil Recovery Market Size, Share & Forecast
- Segmental Analysis – By Onshore Vs. Offshore, By Type (Thermal, Miscible Gas, Chemical & Others)
- Regional Analysis – North America, Middle East & Africa, Europe, South America, and Asia-Pacific
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report
- To gain an in-depth understanding of global enhanced oil recovery market
- To identify the on-going trends and anticipated growth in the next five years
- To help industry consultants, enhanced oil recovery service providers, vendors, dealers other stakeholders align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interaction with enhanced oil recovery service providers, distributors, channel partners and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.