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Enhanced Oil Recovery Market

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Global Enhanced Oil Recovery Market Size by Technology (Thermal, Gas Injection and Chemical) by Application (Onshore and Offshore) by Region ( North America, Europe, Asia Pacific, Latin America and Middle East & Africa) and Forecast 2018 to 2025
Adroit Market Research
Global Enhanced Oil Recovery Market
Drivers, Restraints, Potential Growth Opportunities,
Product Size, Application Estimation, Vendor
Competitive Landscape, Trends and Forecast 20182025
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Enhanced Oil Recovery Market Size, Status and Forecast 2018-2025
• The global enhanced oil recovery market is projected to reach at USD 171.53 billion in 2025, growing at a CAGR of 8.3%
from 2017 to 2025. Increasing number of matured wells and falling oil reserves are driving the global enhanced oil reserve
market.
• Further, the widening gap between demand of crude oil and production is broadening. To overcome this gap companies
are using enhanced oil recovery technologies for mining from reserves that exhibit heavy oil, irregular faultiness and have
poor permeability. Further increasing number of matured wells coupled with the growing demand across the globe is
expected to drive the enhanced oil recovery market growth between 2018 and 2025.
• The operation and installation of enhanced oil recovery technologies include numerous components and products such as
blowers, wellheads, chemical feeder systems, pumps, gas compressors, specialized storage vessels, steam generator and
many other equipment. Some other significant products of EOR technology include oil recovery media such as alkali,
surfactants, liquid nitrogen, CO2, polymers, and chemical.
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Enhanced Oil Recovery Market Size, Status and Forecast 2018-2025
• Globally, governments and regulatory bodies are taking initiatives for developing advanced technology and established
infrastructure for oil production. Government of Asian countries such as China, Malaysia, India and Indonesia are offering
flexibility in financial incentives and tax regimes to attract EOR technology companies to invest in enhanced oil recovery
market.
• Thermal enhanced oil recovery held the major share in enhanced oil recovery market in 2017, as it is one of the oldest
technology which is used for extraction of oil from aged wells. Some other technologies such as gas injection and chemical
recovery are growing at a substantial level owing to various advantages such as cost effectiveness and technology
advancement.
• Onshore application dominated the enhanced oil recovery market and held approx. 72% of the global share. Onshore zone
has the presence of higher number of aged wells as compared to offshore, which has surged the requirements of these
technologies. Though many offshore oil reserves and wells are also discovered in last few decades but due to high cost,
companies are not able to increase the scope of EOR techniques in offshore area.
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Enhanced Oil Recovery Market Size, Status and Forecast 2018-2025
• North America was leading in 2017 and is anticipated to show the same trend over the forecast future. The region is the
industry leader owing to the existence of large number of aged wells and large scale development of non-renewable energy
in North America.
• The competitive landscape of the global enhanced oil recovery market was fragmented as of 2017. Many global and
regional players compete to capture more of the global enhanced oil recovery market share. Some key players include
ExxonMobil Corporation, Pulse Oil, Statoil, Lukoil Oil Company, Chevron Phillips Chemical Company LP., Petroleo Brasileiro
S.A., Royal Dutch Shell plc, Cenovus Energy Inc., BP plc, Praxair Technology, Inc., ADNOC, Repsol and China Petroleum &
Chemical Corporation.
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