Zion Market Research Global Enhanced Oil Recovery Market, 2016–2024 | Page 3

Enhanced Oil Recovery Market
and encouraging government regulation and programs for producing a suitable
infrastructure and enhanced technology for the production of oil are few other factors that
are driving the growth of the market. However, environmental issues such as brine
contamination and the dropping costs of crude oil may restraint the growth of the market for
enhanced oil recovery.
Global Enhanced Oil Recovery Market by Segmentation: The global enhanced oil
recovery market can be segmented based on application, technology, and geography. The
application segment of the market is divided into offshore and onshore. The technology
segment of the enhanced oil recovery market is categorized into chemical, thermal, gas
injection, and others. Regionally, the market is grouped into Europe, North America, Asia-
Pacific, Latin America, and the Middle East & Africa.
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Global Enhanced Oil Recovery Market by Regional Analysis: North America is
anticipated to lead the global market for enhanced oil recovery in the near future due to the
existence of a huge digit of mature wells and an extensive generation of unconventional
energy in this region. Asia Pacific region is also projected to grow at a significant rate in the
market in the coming period. This growth of the market can be attributed to the fast
industrialization and increasing oil & gas industry in this region.
Global Enhanced Oil Recovery Market by Competitive Players: The prominent players
in the global enhanced oil recovery market include ExxonMobil Corporation, Cenovus