Enhanced Oil Recovery Market Share, Trends Analysis, Growth Factors, and Forecast 2025-2033

Author : Rahul Kumar | Published On : 19 Feb 2026

According to the latest report by IMARC Group, titled “Enhanced Oil Recovery Market Report by Technology (Thermal-Enhanced Oil Recovery, Gas-Enhanced Oil Recovery, Chemical-Enhanced Oil Recovery, and Others), Application (Onshore, Offshore), and Region 2025-2033”, offers a comprehensive analysis of the industry, which comprises insights on the global enhanced oil recovery (EOR) market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global enhanced oil recovery (EOR) market size reached USD 63.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 116.6 Billion by 2033, exhibiting a growth rate (CAGR) of 6.68% during 2025-2033.

Request Free Sample Report: https://www.imarcgroup.com/enhanced-oil-recovery-market/requestsample

Global Enhanced Oil Recovery Market Dynamics:

Latest Trends in the Enhanced Oil Recovery Market:

The world-wide improved oil recovery (EOR) market is bringing oil production back to life with new technologies that free trapped resources from in situ rocks: these days CO2 injection is in vogue. Among the top performers are Occidental Petroleum, whose environment-friendly carbon capture mechanism offers an improved oil recovery. Historically, North America has been the largest market, owing to the many large mature oilfields. Improved recovery (15% increase) has been made by recent advancements such as ExxonMobil's advanced polymer flooding. Companies today have learned that the global EOR market isn't just about getting the maximum amount of oil recovery, but is also a blend of sustainability and efficiency in support of energy security and environmental objectives using the latest technologies, built upon the only real global driver: demand for maximum production in a world hungry for energy.

Growth Drivers in the Enhanced Oil Recovery Market:

The global EOR market size was reasonably estimated to be USD 63.3 billion in 2024, driven by aging wells and production decreases in currently developed oilfields. Around 70% of global oil production comes from mature fields according to industry estimates. The most common EOR method is thermal EOR like steam injection (40% share). Growing demand, alongside new technologies like chemical flooding, have spurred uptake. Costs are high, though AI-powered reservoir analysis can lower overall costs by 10%. Government policies such as U.S. tax credits for CO2-EOR have driven growth, and the global EOR sector remains strong, with operators largely focused upon improving efficiency and sustainability. This ensures continued common use of EOR on land and offshore.

Future Demand in the Enhanced Oil Recovery Market:

The global EOR market size was valued at USD 38.24 billion in 2022 and is projected to grow from USD 40.79 billion in 2023 to USD 116.6 billion toward 2033, at a CAGR of 6.68%. Oil and advanced EOR demand in the Asia Pacific region is likely to drive the EOR market, especially in China. The onshore subsector will dominate the market due to lower-cost applications. Emerging markets, especially in the Middle East, could offer more potential, despite lack of infrastructure. Apart from these, Chevron and the start-up technology companies are on collaboration to overcome the scalability issue. Hence, the stakeholders could adapt by exploiting these trends to ensure the global EOR market provides efficient and green solutions for the energy requirements of the rising world, which would eventually lead to a streamlined oil production across the globe.

By the IMARC Group, Some of the Top Competitive Landscape Operating in the Global Enhanced Oil Recovery Market are Given Below:

Basf Se
Halliburton Corporation
Royal Dutch Shell Plc
Schlumberger Ltd.
Chevron Phillips Chemical Corporation
Fmc Technologies Inc.
National Aluminium Company Limited (NALCO)
Praxair Inc.
Secure Energy Services Inc.
Xytel Corporation
Equinor ASA
BP Plc
China Petroleum & Chemical Corporation (Sinopec)
Oil and Natural Gas Corporation Ltd. (ONGC)
ExxonMobil Corporation
ConocoPhillips
Petroleo Brasileiro (Petrobas) S.A.
PJSC Lukoil Oil Company

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/enhanced-oil-recovery-market

Emerging Trends in the Enhanced Oil Recovery Market:

In the future, microbial EOR technologies like Halliburton's bio-improved oil recovery shall become a market sector, since they allow an additional 8% recovery, with a lower environmental impact. Also, hybrid systems of chemical and gas injection shall optimize the efficiency of EOR, especially in Europe. Furthermore, AI predictive models of reservoir behavior shall allow a reduction of operating costs of 12%. Hence practices such as sequestration of CO2 shall cater with the green rules and thus on the whole these innovations provide a synergy for delivering eco- friendly and high yielding solutions making the global EOR market the energy producing sector set to meet the demands that evolve with time.

Key Market Segmentation:

Breakup by Technology:

Thermal-Enhanced Oil Recovery
Gas-Enhanced Oil Recovery
Chemical-Enhanced Oil Recovery
Others

Thermal-enhanced recovery dominates the market

Breakup by Application:

Onshore
Offshore

Onshore holds the largest share of the market

Regional Insights:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

Market Performance
Market Outlook
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-201-971-6302