Market Research Report
Enhanced Oil Recovery: Technologies and Global Markets
|Published by||BCC Research||Product code||124289|
|Published||Content info||221 Pages
Delivery time: 1-2 business days
|Enhanced Oil Recovery: Technologies and Global Markets|
|Published: September 28, 2018||Content info: 221 Pages||
Global enhanced oil recovery (EOR) technologies market should reach $40.8 billion by 2023 from $27.9 billion in 2018 at a compound annual growth rate (CAGR) of 7.9% for the period of 2018-2023.
North American EOR technologies market is expected to grow from nearly $11.8 billion in 2018 to $17.8 billion in 2023 at a CAGR of 8.4% for the period of 2018-2023.
Asia-Pacific EOR technologies market is expected to grow from $5.5 billion in 2018 to $8.2 billion in 2023 at a CAGR of 8.2% for the period of 2018-2023.
The scope of this investigation includes all of the major viable EOR technologies that are currently being implemented in the global oil industry. Besides hydrofracturing, tight sands or tight oil extraction are categorized as Improved Oil Recovery (IOR), of which EOR is a subset, EOR was originally developed as a means to extract additional oil from reservoirs after primary and secondary recovery methods ceased to be productive enough to maintain economical field operation. In some cases, the EOR technologies considered in this report may also be applied immediately after the initial well drilling. These applications are common for fields where primary and secondary recovery technologies are incapable of producing adequate oil in any phase of an oilfield operation.
The installation and operation of EOR technologies can include various products and components such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, gas recapture and separation systems, and various other equipment and facilities. Other important products of EOR technology include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen and CO2. Although steam and onsite-compressed atmospheric nitrogen are also important oil recovery media, they are not considered EOR technology products within this report because they are available at minimal or no direct cost, unlike CO2 or specialized injection chemicals, which must be supplied to an EOR operation.
The market analysis provided in this report presents region-specific and country-specific market valuation data for each of the EOR technologies considered in this study. These include breakdowns for the following categories:
Estimated values in each of these categories are based on manufacturers' total revenues. Projected and forecasted revenue values are in constant US dollars (2017), unadjusted for inflation.
Emerging EOR technologies that may become commercially viable within the next five years are summarized, for example Solar EOR, but are not included in the market assessment of this report. BCC Research analyzes each major viable EOR technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. BCC Research analyzes the industry on a worldwide basis in terms of its manufacturing and the deployment of its technologies or products. BCC Research also examines government roles in support of EOR technologies worldwide, including regulatory support, government requirements and promotional incentives for various EOR technologies as relevant and available. BCC Research provides a review of the most relevant EOR technologies, discusses recent trends in capacity installation and unit sales, and provides industry overviews and market assessments for each EOR technology.