Global Enhanced Oil Recovery Market to Reach $516.7 Billion by 2023: Transparency Market Research

Transparency Market Research Enhanced Oil Recovery (EOR) Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2023

Published Date 2014-04-24

85 Page Report

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Global Enhanced Oil Recovery Market to Reach $516.7 Billion by 2023: Transparency Market Research Transparency Market Research State Tower, 90, State Street, Suite 700.

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Enhanced Oil Recovery (EOR) market

REPORT DESCRIPTION

Huge demand from North America and other developed areas considered to be the biggest driving factor in the enhanced oil recovery market.

ALBANY, New York, October 20, 2014.

The global Enhanced Oil Recovery (EOR) market was valued at $38.1 billion in 2012 and is expected to hit US$516.7 billion by 2023. It is expected to show a CAGR of 26.7% from 2013 to 2023.

The research report titled “Enhanced Oil Recovery (EOR) Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2023” is compiled by Transparency Market Research and shares meticulously-researched facts and statistics.

To read more about the global enhanced oil recovery market, to purchase the report, or to browse through the ToC, please visit: http://www.transparencymarketresearch.com/enhanced-oil-recovery.html

The report details on the key EOR methods including thermal injection, chemical injection and gas injection. It says that the largest sector by volume is thermal injection, which held more than 51.5% of the market share in 2012. The segment is currently mature and is predicted to decline in comparison to other technologies. Gas EOR is expected to increase, holding a market share of 38.5% in 2023. Chemical EOR technology is set to increase from its 2012 mark of 10.03% to 29.71% in 2023.

The report also divides the EOR market in a geographical manner, stating North America to be the dominant force in 2012. It holds 38.9% global market share in terms of volume. This makes North America the leading area in the EOR market, according to the report. This is possible mostly due to the huge demand by the U.S., Mexico and Canada. The Rest of the World held almost 30.9% of the global share in 2012. The Rest of the World along with Europe are set to show the fastest growth rates in the forecast period. The report cites upcoming projects in Russia, the Middle East and the U.K. The European EOR market is expected to be a lucrative one in terms of commercial expansion and development. It is expected to rise to 13.1% by 2023.

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Enhanced Oil Recovery (EOR) market

Within the Asia Pacific region, China is the only country that holds a substantial number of EOR projects, due to which the hold of the Asia Pacific region is expected to decline during the forecast period.

Enhanced oil recovery is said to be a tertiary process because it takes place after the primary and secondary oil recoveries.

The report describes the key players in the global EOR market including: Royal Dutch Shell Plc, Exxon Mobil Corporation, Conoco Phillips, BP Plc, Cenovus Energy Inc., Anadarko Petroleum Corporation, Chevron Corporation, Petronas, and Statoil ASA. These companies are stated to dominate the enhanced oil recovery market technology.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Enhanced Oil Recovery (EOR) market

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