Enhanced Oil Recovery Market Report: Trends, Forecast and Competitive Analysis to 2030

Enhanced Oil Recovery Trends and Forecast

The future of the global enhanced oil recovery market looks promising with opportunities in the onshore and offshore markets. The global enhanced oil recovery market is expected to reach an estimated $58.0 billion by 2030 with a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are diminishing production from the current oilfields and an increase in the number of older wells, continuous improvements in EOR technologies, like state-of-the-art reservoir management systems and well drilling, as well as, growing demand for energy.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Enhanced Oil Recovery by Segment

The study includes a forecast for the global enhanced oil recovery by technology, application, and region.

Enhanced Oil Recovery Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Thermal EOR
• Chemical EOR
• Gas EOR
• Others

Enhanced Oil Recovery Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Onshore
• Offshore

Enhanced Oil Recovery Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Enhanced Oil Recovery Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies enhanced oil recovery companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the enhanced oil recovery companies profiled in this report include-

• Halliburton
• Schlumberger
• Baker Hughes
• Royal Dutch Shell
• BASF
• Linde
• Air Liquide
• TechnipFMC
• ChampionX
• XYTEL

Enhanced Oil Recovery Market Insights

Lucintel forecasts that thermal EOR will remain the largest segment over the forecast period because it reduces viscosity and increases oil movement through the reservoir.

North America will remain the largest region over the forecast period due to the nation's mature fields and numerous unconventional oil and gas resources, which call for sophisticated extraction methods to increase production from already-existing wells.

Features of the Global Enhanced Oil Recovery Market

Market Size Estimates: Enhanced oil recovery market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Enhanced oil recovery market size by technology, application, and region in terms of value ($B).

Regional Analysis: Enhanced oil recovery market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different technology, application, and regions for the enhanced oil recovery market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the enhanced oil recovery market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the enhanced oil recovery market size?

Answer: The global enhanced oil recovery market is expected to reach an estimated $58.0 billion by 2030.

Q2. What is the growth forecast for enhanced oil recovery market?

Answer: The global enhanced oil recovery market is expected to grow with a CAGR of 6.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the enhanced oil recovery market?

Answer: The major drivers for this market are diminishing production from the current oilfields and an increase in the number of older wells, continuous improvements in EOR technologies, like state-of-the-art reservoir management systems and well drilling, as well as, growing demand for energy.

Q4. What are the major segments for enhanced oil recovery market?

Answer: The future of the global enhanced oil recovery market looks promising with opportunities in the onshore and offshore markets.

Q5. Who are the key enhanced oil recovery market companies?

Answer: Some of the key enhanced oil recovery companies are as follows:

• Halliburton
• Schlumberger
• Baker Hughes
• Royal Dutch Shell
• BASF
• Linde
• Air Liquide
• TechnipFMC
• ChampionX
• XYTEL

Q6. Which enhanced oil recovery market segment will be the largest in future?

Answer: Lucintel forecasts that thermal EOR will remain the largest segment over the forecast period because it reduces viscosity and increases oil movement through the reservoir.

Q7. In enhanced oil recovery market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the nation's mature fields and numerous unconventional oil and gas resources, which call for sophisticated extraction methods to increase production from already-existing wells.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the enhanced oil recovery market by technology (thermal EOR, chemical EOR, gas EOR, and others), application (onshore and offshore), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?