LeapZipBlog: Johnson Paul's blog: Enhanced Oil Recovery Market Is Expected To Reach US$ 159.5 Bn by 2023| Credence Research

Enhanced Oil Recovery Market Is Expected To Reach US$ 159.5 Bn by 2023| Credence Research

July 11, 2019 by Johnson Paul  

According to a new market report published by Credence Research “Global Enhanced Oil Recovery Market By Technology (Thermal Injection, Gas Injection, Chemical Injection) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023,” the global enhanced oil recovery market has been estimated to be valued at US$ 45.8 Bn by the end of 2016, and is expected to reach US$ 159.5 Bn by 2023, expanding at a CAGR of 19.5% from 2016 to 2023.

Browse the full report at https://www.credenceresearch.com/report/enhanced-oil-recovery-market

Market Insights

Enhanced Oil recovery (EOR) techniques are widely used to enhance the production of crude oil produced from a reservoir. In this process, the oil recovery is increased by injecting substance into the oil well to increase pressure and reduce viscosity of the crude oil. In conventional process, the recovery from oil well is approximately 30% of the oil reserve capacity whereas with EOR techniques upto 70% of the oil can be extracted from the reservoir. In case of heavy oil reservoir where crude extraction from primary recovery is difficult, enhanced oil recovery techniques such as thermal injection are widely used to enhance the oil recovery. However, this technique is not effective when the reservoirs are deep or too thin. Moreover, thermal injection technique requires high capital investment which may a feasible solution in case of smaller oil fields. Similarly, chemical injection techniques is one of the fastest growing techniques in enhance oil recovery market and are most effective to increase the yield in case of wet oil reservoirs. Increasing use of gas injection techniques as tertiary recovery method especially CO2 injection techniques are expected to intensify the growth of the enhanced oil recovery market till 2023. 

Decline in oil prices in recent past has adversely affected the profit margin of oil producers. Thus, oil producers are concentrating on improving oil production from existing oil wells with the use of technologies such as enhance oil recovery this in turn is fueling the demand for enhance oil recovery techniques. Moreover, increasing number of matured reserves coupled with increasing production of shale gas is expected to augment the growth of enhanced oil recovery market. Besides this, gas injection technique provides added advantage for the commercial use of green house gases such as carbon dioxide (CO2) generated by various industries and power plants coupled with various government initiatives for the same disposal of green house gases is expected to drive the growth of enhanced oil recovery market over the forecast period 2016-2023. 

Competitive Insights:

Global enhanced oil recovery market is segmented on the basis of technology such as thermal injection, gas injection and chemical injection. In 2015, thermal injection segment contributed the highest revenue share of the global enhanced oil recovery market. However, the segment has become matured and is expected to lose it market share to gas injection and chemical injection segment. The gas injection segment is anticipated to expand at a robust growth over the forecast period (2016-2023). Growing production of non-conventional shale gas and tight oil is fueling the demand for chemical injection segment. The segment is expected to register significant growth over the forecast period. Leading players in the global enhanced oil recovery market are involved in constantly innovating new techniques to enhance oil recovery from the reservoirs. Currently, matured reserve contributes over 65% of crude oil produced globally which indicates the future opportunities for enhance oil recovery technologies. Therefore, the global enhanced oil recovery market is projected to register robust CAGR over the forecast period (2016-2023).

Key Trends:

  • Merger & Acquisition
  • Development of new techniques

Download Free PDF Sample Request: https://www.credenceresearch.com/sample-request/58159

Table of Content

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Enhanced Oil Recovery Market

Chapter 3 Market Dynamics
3.1 Introduction
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.2 Market Challenges
3.2.3 Market Opportunities
3.3 Attractive Investment Proposition
3.4 Market Share Analysis of Key Manufactures in Global Enhanced Oil Recovery Market

Chapter 4 Global Enhanced Oil Recovery Market Analysis, By Technology
4.1 Thermal Injection
4.2 Gas Injection
4.3 Chemical Injection

Chapter 5 North America Enhanced Oil Recovery Market Analysis
5.1 Overview
5.1.1 North America Enhanced Oil Recovery Market Revenue, 2013 – 2023, (US$ Bn) 
5.2 North America Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
5.2.1 North America Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
5.3 North America Enhanced Oil Recovery Market Analysis, By Country, 2013 – 2023 (US$ Bn) 
5.3.1 U.S. 
5.3.2 Canada

Chapter 6 Europe Enhanced Oil Recovery Market Analysis
6.1 Overview
6.1.1 Europe Enhanced Oil Recovery Market Revenue, 2013 – 2023, (US$ Bn) 
6.2 Europe Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
6.2.1 Europe Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
6.3 Europe Enhanced Oil Recovery Market Analysis, By Country, 2013 – 2023 (US$ Bn) 
6.3.1 Germany
6.3.2 France
6.3.3 U.K. 
6.3.4 Rest of Europe

Chapter 7 Asia Pacific Enhanced Oil Recovery Market Analysis
7.1 Overview
7.1.1 Asia Pacific Enhanced Oil Recovery Market Revenue, 2013 – 2023, (US$ Bn) 
7.2 Asia Pacific Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
7.2.1 Asia Pacific Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
7.3 Asia Pacific Enhanced Oil Recovery Market Analysis, By Country, 2013 – 2023 (US$ Bn) 
7.3.1 China
7.3.2 India
7.3.3 Japan
7.3.4 Rest of Asia Pacific

Chapter 8 Latin America Enhanced Oil Recovery Market Analysis
8.1 Overview
8.1.1 Latin America Enhanced Oil Recovery Market Revenue, 2013 – 2023, (US$ Bn) 
8.2 Latin America Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
8.2.1 Latin America Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn)

8.3 Latin America Enhanced Oil Recovery Market Analysis, By Country, 2013 – 2023 (US$ Bn) 
8.3.1 Brazil
8.3.2 Mexico
8.3.3 Rest of Latin America

Chapter 9 Middle East & Africa Enhanced Oil Recovery Market Analysis
9.1 Overview
9.1.1 Middle East & Africa Enhanced Oil Recovery Market Revenue, 2013 – 2023, (US$ Bn) 
9.2 Middle East & Africa Enhanced Oil Recovery Market Analysis, By Technology 
9.2.1 Middle East & Africa Enhanced Oil Recovery Market Analysis, By Technology, 2013 – 2023 (US$ Bn) 
9.3 Middle East & Africa Enhanced Oil Recovery Market Analysis, By Country, 2013-2023 (US$ Bn)
9.3.1 GCC
9.3.2 Rest of MEA

Chapter 10 Company Profiles
10.1 Exxon Mobil Corporation 
10.2 Chevron Corporation
10.3 Royal Dutch Shell Plc. 
10.4 Cenovus Energy Inc. 
10.5 ConocoPhillips Company.
10.6 Statoil ASA 
10.7 BP p.l.c. 
10.8 Denbury Resources Inc.
10.9 Petroliam Nasional Berhad (PETRONAS)
10.10 Suncor Energy Inc.

Do Inquiry before Buying for research report: https://www.credenceresearch.com/inquiry-before-buying/58159

Medium Blog: https://medium.com/@kumarganesh028/enhanced-oil-recovery-market-is-expected-to-reach-us-159-5-bn-by-2023-credence-research-1608a6e8faaf

About Us

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we've manufactured a firm extraordinarily prepared to this task.

Media Contact

Name: Chris Smith

Address: 105 N 1st ST #429,

SAN JOSE, CA 95103 US

Toll-Free (US/CANADA) Ph.: +1-800-361-8290

E-mail: sales@credenceresearch.com

Website: http://www.credenceresearch.com