Energy & Power Industry Reports Enhanced Oil Recovery (EOR) Market Size

Your CatalystTo a Lucrative Business Swift adoption of advanced technologies to enhance output and the presence of a large number of aged wells as compared to other regions has resulted in North America dominating the overall market with a volume share of 42.4% in 2016. A substantial amount of oil production in California and exploration of oil sands in Canada have generated a vast opportunity for the growth of the EOR market in North America. Moreover, favorable government regions supporting E&O activities is expected to boost growth over t he next few years. The presence of a significant number of onshore wells has resulted in the technology being utilized extensively in this application. However, these wells have reached their maturity resulting in lowered output. Nonetheless, untapped potential of offshore wells is expected to drive the demand for the technology in this segment which is likely to lead to a revenue growth of 8.4% from 2017 to 2025. The industry has been marked by the presence of large-scale companies that have been operating in the market for a substantial period including ExxonMobil, BP, Chevron Philips, Shell, and Statoil. These players participate across the value chain and have very few discriminating factors among them. Ageing of wells coupled with rising population resulting in an escalating demand for energy is expected to augment the growth of the EOR market. Hexa Research has segmented the global EOR market on the basis of technology, application and region: Segmentation by Technology, 2014 - 2025 (Million Bbl) (USD Million) • Gas injection • Thermal • Chemical • Others Segmentation by Application, 2014 - 2025 (Million Bbl) (USD Million) • Onshore • Offshore Segmentation by Region, 2014 - 2025 (Million Bbl) (USD Million) • North America • U.S. • Canada • Mexico • Europe • Germany • UK • Russia • Asia Pacific • China • Japan • Australia • Middle East & Africa • Saudi Arabia • Central & South America Follow Us:

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