Enhanced Oil Recovery (EOR) Market

The global Enhanced Oil Recovery (EOR) market was valued at USD 43.3 billion in 2020 and is projected to reach USD 60.4 Billion by 2028, growing at a CAGR of 6% from 2021 to 2028.

Enhanced oil recovery (EOR), also known as “tertiary recovery,” is a process for extracting oil that has not already been retrieved through the primary or secondary oil recovery techniques.

This report provides an analysis of the Enhanced Oil Recovery (EOR) market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers a thorough insights on various tools such as SWOT analysis, PEST analysis, value chain analysis, Porter’s five forces analysis, pricing analysis, and technology roadmap among others. These assessments aid the industry stakeholders to analyze the Enhanced Oil Recovery (EOR) market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behavior such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.

The COVID-19 outbreak has affected various industries worldwide. The Enhanced Oil Recovery (EOR) market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The report covers exhaustive analysis on the global Enhanced Oil Recovery (EOR) industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.

The factors such as increasing number of maturing oil fields and improving technologies to introduce better oil recovery techniques are likely to drive the EOR market during the forecast period.

The expansion and rehabilitation of existing and construction of new channels is anticipated to further augment the growth of the market over the forecast period. 

The covid pandemic has impacted the exploration and the production in such activities of oil & gas. The lockdown in different countries has further reduced the transportation and supply chain related activities, and are facing issue in operations and is expected to hinder the growth of the market in the near future.

The report delivers an acute breakdown of the market based on various segments such as Technology, Location, and region. The report will cover market estimations and forecast for each segment by region for the years 20156–2028. Several growth factors and opportunities impacting various segments have been incorporated in the report.

On the basis of Technology, the market is divided into Gas Injection, Thermal Injection, Chemical Injection, Microbial Injection, Other Technologies. Gas Injection held the largest share in 2020 and is projected to witness substantial growth during the forecast period.

Based on Location, the market is divided into Onshore, Offshore. Offshore attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.

Based on the geography, the global Enhanced Oil Recovery (EOR) market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The regional analysis covers market estimations and forecast for each segment for each region for the years 2016–2028. The regional analysis section also provides qualitative analysis comprising of regional trends such as drivers, restraints, opportunities and regulatory norms. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The global Enhanced Oil Recovery (EOR) market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Enhanced Oil Recovery (EOR) market are Praxair Technology Inc., Statoil ASA, Nalco Champion, ExxonMobil Corporation, Royal Dutch Shell plc, Sinopec, Lukoil Oil Company, Petroliam Nasional Berhad, Chevron Corporation, Chevron Phillips Chemical, Cenovus Energy Inc., Petroleo Brasileiro S.A, BP plc.. This section of the report comprising of a thorough profiling of companies based on various parameters such as company/business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. Moreover, the report also includes extensive information on key strategies such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.