Global Enhanced Oil Recovery Market will witness a CAGR of 7.2% in the Forecast Period of 2021-2026
Author : Sofia Williams | Published On : 10 Sep 2021
The new report by Expert Market Research titled, ‘Global Enhanced Oil Recovery Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global enhanced oil recovery market, assessing the market based on its segments like technology, chemical outlook, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/enhanced-oil-recovery-market/requestsample
The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 60.1 Billion
- Forecast CAGR (2021-2026): 7.2%
- Forecast Market Size (2026): USD 91.2 Billion
The growth of global market for enhanced oil recovery is being driven by the global demand for crude oil and the necessity for higher efficiency in oil recovery. To maintain profitability, the requirement of high recovery factor in the extraction of crude oil, is expected to boost the demand for tertiary recovery during the forecast period. Additionally, the ambitious strategies of market players to utilise offshore sources of crude oil is likely to augment the market growth. However there was a hinderance to the growth due to the drastically fluctuating prices during the COVID-19 pandemic, and a global shift towards renewable sources.
Industry Definition and Major Segments
Enhanced oil recovery, otherwise known as tertiary recovery, is the process of removing crude oil from an oil field that cannot be extracted conventionally. Compared to the removal of 20% to 40% of a reservoir’s oil, using primary and secondary recovery, this process can extract 30% to 60% or more.
The industry can be broadly categorised based on its technology into:
The industry can be divided based on its chemical outlook as:
- Alkaline Chemicals
- Alkali-Surfactant-Polymer (ASP) Formulations
On the basis of application, the industry can be divided as:
The regional markets for enhanced oil recovery include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/enhanced-oil-recovery-market
North America and Middle East are projected to be the major markets during the forecast period attributing to the increasing number of mature oil fields. Likewise, the market is expected to witness smooth growth in other regions as well, to meet the oil recovery targets. Resultantly, the growing demand for unconventional gas production across the world is probable to offer momentum to the use of gas injection technique which will dominate the market in coming years. Moreover, the market was hit adversely by the coronavirus pandemic, worldwide, but heavy investments in R&D activities is expected to facilitate a speedy recovery of the market.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Key Market Players
The major players in the market are Halliburton Energy Services, Inc., Royal Dutch Shell plc, Schlumberger Limited, Chevron Phillips Chemical Company LLC, TechnipFMC plc, and Praxair Technology, Inc. among few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Read More Reports:-
Europe Personal Safety Alarms Market: https://www.expertmarketresearch.com/reports/europe-personal-safety-alarms-market
North America Natural and Organic Face Care Market: https://www.expertmarketresearch.com/reports/north-america-natural-and-organic-face-care-market
Middle East Sheep Meat Market Report and Forecast: https://www.expertmarketresearch.com/reports/middle-east-sheep-meat-market
Global Chelate Fertiliser Market: https://www.expertmarketresearch.com/reports/chelate-fertiliser-market
Global Power by the Hour (PBH) Market: https://www.expertmarketresearch.com/reports/power-by-the-hour-pbh-market
Global Centrifugal Blower Market: https://www.expertmarketresearch.com/reports/centrifugal-blower-market
Global Potassium Sulphate (SOP) Market: https://www.expertmarketresearch.com/reports/potassium-sulphate-sop-market
Global Calcium Phosphate Market: https://www.expertmarketresearch.com/reports/calcium-phosphate-market
Global Pink Himalayan Salt Market: https://www.expertmarketresearch.com/reports/pink-himalayan-salt-market
North America Industrial Hose Market: https://www.expertmarketresearch.com/reports/north-america-industrial-hose-market
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
We also provide state-of-the-art procurement intelligence through our platform, https://www.procurementresource.com. Procurement Resource is a leading platform for digital procurement solutions, offering daily price tracking, market intelligence, supply chain intelligence, procurement analytics, and category insights through our thoroughly researched and infallible market reports, production cost reports, price analysis, and benchmarking.
Informes de Expertos (https://www.informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.
Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.
Company Name: EMR Inc.
Contact Person: Sofia Williams, Corporate Sales Specialist – U.S.A.
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Country: United States
Read about United States powder coatings market: https://expertmarketresearch-emr.blogspot.com/2021/07/united-states-powder-coatings-market-to.html
Introducing Procurement Intelligence Services of EMR Inc.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.