Kohima News Paper

Enhanced Oil Recovery Market Overview, Size, Industry Share, Growth, Trends and Forecast 2021-2026

 Breaking News
  • No posts were found

Enhanced Oil Recovery Market Overview, Size, Industry Share, Growth, Trends and Forecast 2021-2026

February 19
07:23 2021
Enhanced Oil Recovery Market Overview, Size, Industry Share, Growth, Trends and Forecast 2021-2026

Enhanced Oil Recovery Market
The global enhanced oil recovery (EOR) market reached a value of US$ 45.6 Billion in 2020. IMARC Group expects the global enhanced oil recovery (EOR) market to exhibit moderate growth during (2021-2026).

As per the latest report by IMARC Group, titled “Enhanced Oil Recovery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global enhanced oil recovery (EOR) market size is increasing at a steady rate. The process of oil production is generally divided into primary, secondary and tertiary phases. The primary oil recovery phase is limited to hydrocarbons that naturally rise to the surface; the secondary recovery phase employs water and gas injection, displacing the oil and pushing it to the surface; and the tertiary phase works by increasing the pressure and minimizing the viscosity of the oil. The tertiary recovery phase, also known as enhanced oil recovery (EOR), is currently gaining traction across the globe as it aids in increasing the amount of oil that can be recovered from a reservoir.

Get a sample copy of this Report: https://www.imarcgroup.com/enhanced-oil-recovery-market/requestsample

Global Enhanced Oil Recovery (EOR) Market Trends:

Presently, most of the global oil production comes from mature fields. However, the rising demand for oil recovery, particularly from the aging resources, acts as a major concern for oil companies and government authorities. This, in turn, is impelling the growth of the enhanced oil recovery (EOR) market. Apart from this, several prominent oil production organizations are investing in research and development (R&D) activities and setting-up collaborative research projects to introduce innovative products with advanced features. Some of the other growth inducing factors include rapid urbanization, rising global population, increasing demand for and declining worldwide resources of crude oil.

Market Summary:

  • Based on the technology, the market has been classified into thermal-, gas-, chemical- and other types of enhanced oil recovery. At present, thermal-enhanced oil recovery technology accounts for the majority of the total market share.
  • On the basis of the application, the market has been bifurcated into onshore and offshore. Currently, the onshore segment exhibits a clear dominance in the market.
  • Region-wise, North America represents the largest market for enhanced oil recovery. Other major markets include Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has also been examined with some of the key players being BASF SE, Halliburton Corporation, Royal Dutch Shell plc, Schlumberger Ltd., Chevron Phillips Chemical Corporation, FMC Technologies Inc., National Aluminium Company Limited (NALCO), Praxair, Inc., SECURE Energy Services Inc., Xytel Corporation, Equinor ASA, BP plc, China Petroleum & Chemical Corporation (Sinopec), Oil and Natural Gas Corporation Ltd. (ONGC), ExxonMobil Corporation, ConocoPhillips, Petroleo Brasileiro (Petrobas) S.A. and PJSC Lukoil Oil Company.

View Full Report with TOC & List of Figure: https://www.imarcgroup.com/enhanced-oil-recovery-market

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Related Reports:

Meat Substitutes Market Share, Growth, Challenges, & Global Forecast

Electrophysiology Devices Market Volume, Status, Growth, Opportunities

Machine Condition Monitoring Market Overview, Size, Industry Share

Financial Analytics Market Top Key Players, Opportunity Analysis

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group

USA: +1-631-791-1145

Email: [email protected]

Website: https://www.imarcgroup.com

Follow us on twitter : @imarcglobal

Media Contact
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Phone: 6317911145
Address:30 N Gould St
City: Sheridan
State: Wyoming
Country: United States
Website: https://www.imarcgroup.com