| This report contains COVID-19 specific updates.
Enhanced Oil Recovery: Technologies and Global Markets
Report Highlights
The global market for enhanced oil recovery (EOR) technologies is estimated to increase from $41.0 billion in 2022 to $64.2 billion by 2027, at a compound annual growth rate (CAGR) of 13.1% from 2022 through 2027.
Report Includes
- 88 data tables and 98 additional tables
- An up-to-date review and analysis of the global market for enhanced oil recovery (EOR) technologies
- Analyses of the global market trends, with historic market revenue data for 2020-2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- In-depth information (facts and figures) on the updated market drivers and challenges impeding the global EOR market, current global scenario, regulatory framework, and common factors influencing global demand for EOR technologies
- Estimation of the actual market size and market forecast for enhanced oil recovery in USD million values, and corresponding market share analysis by technology, application, and region
- Discussion of all viable commercially viable EOR technologies along with their installation, production system and associated operational methods
- Regional market outlook and country specific data and analysis for the U.S., Canada, Mexico, Brazil, Venezuela, Russia, Germany, Turkey, Kazakhstan, Oman, Saudi Arabia, Egypt, Qatar, China, Indonesia, Malaysia, India etc.
- Information on the EOR industry value chain analysis providing a systematic study of key intermediaries involved, with emphasis on major types of end-user industries and disruptions caused by the COVID-19 pandemic and the Russia-Ukraine conflict
- Review of the EOR pricing analysis and applicability of CCUS technologies for enhanced oil recovery industry
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Profile descriptions of the leading EOR technology solutions companies, including BP plc, China Petroleum & Chemicals Corp., Royal Dutch Shell, ExxonMobil, Petroliam Nasional Bhd (PETRONAS), and Chevron Phillips Chemical (CPChem)
Report Scope
The report discusses different types of EOR technologies like steam flooding, chemical flooding, nitrogen flooding, carbon-dioxide flooding, hydrocarbon flooding and in situ combustion. It offers detailed analysis of EOR technologies and their usage, and the prevalent trends and opportunities in the market. The market values are estimated based on multiple factors and analysis of manufacturers’ revenues. Market dynamics within each industry are identified. Technological advancements and trends are reviewed, and other influences such as economic conditions and standards are discussed. Because this is a global study, BCC Research analyzes domestic and international technological issues and economic considerations.
The market segments of the report are focused on technical and commercial aspects of the EOR in different application segments, such as onshore and offshore applications. The report also discusses the country-wise policy and regulatory framework that the EOR industry operates within in order to maintain the environmental sustainability and to comply with the government regulations.
The report also analyzes the regional markets for EOR. The segments are forecast for 2022 to 2027, with 2021 as a base year. Furthermore, the report offers a competitive scenario of the market, including a detailed analysis of key market players and a list of small and regional market players.
The currency used in this report is U.S. dollars, with market size indicated only in U.S. $millions. For companies reporting their revenue in U.S. dollars, the revenues are taken from their annual reports. For companies that reported their revenue in other currencies, i.e., Euros and Pounds, the average annual currency conversion rate has been used for the particular year to convert the value into U.S. dollars. The conversion rate for each currency conversion is provided in the report.
Frequently Asked Questions (FAQs)
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Synopsis
| Report Metrics | Details |
|---|---|
| Base year considered | 2021 |
| Forecast period considered | 2022–2027 |
| Base year market size | $35.7 billion |
| Market size forecast | $64.2 billion |
| Growth rate | CAGR of 13.1% from 2022 to 2027 |
| Units considered | $ Millions |
| Segments covered | Region, Product, Business Segment, Technology, Application, Country |
| Regions covered | North America, APAC (Asia-Pacific), South America, Middle East and Africa and Europe |
| Countries covered | U.S., Canada, Mexico, China, Indonesia, Malaysia,India,Rest of APAC,Kazakhstan,Oman,Saudi Arabia, South Africa, Turkey, Egypt, Qatar, Rest of MEA,Brazil, Venezuela, Trinidad, Rest of South America, Russia, Norway, Germany, Netherlands, Rest of Europe |
| Key Market Drivers |
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| Companies studied | JOHN WOOD GROUP PLC , KEMIRA OYJ , INNOVATIVE STEAM TECHNOLOGIES , INDUSTRIAL TECHNOLOGY MANAGEMENT , AIR LIQUIDE , INGERSOLL RAND , AIR PRODUCTS AND CHEMICALS INC. , AKZONOBEL , BABCOCK & WILCOX ENTERPRISES INC. , BASF SE , BP PLC , GENERAL ELECTRIC , LINDE AG , MITSUBISHI HEAVY INDUSTRIES LTD. , SCHLUMBERGER LTD. , ARIEL CORP. , BAKER HUGHES , BAUER , BORNEMANN , CAT PUMPS , CATERPILLAR , CHAMPION TECHNOLOGIES , CHEVRON PHILLIPS CHEMICAL COMPANY LLC , CHINA NATIONAL PETROLEUM CORPORATION , CLAYTON INDUSTRIES , DENBURY RESOURCES, INC. , DOW CHEMICAL CO. , EATON CORP. , ELLIOTT GROUP , EXXONMOBIL , FLOWSERVE , FMC TECHNOLOGIES , GENERON , GUILD ASSOCIATES INC. , HALLIBURTON , HAMMELMANN GMBH , HAMON DELTAK , HAYWARD GORDON , KINDER MORGAN , KOCH SEPARATION SOLUTIONS , LEISTRITZ CORP. , MASCHINENFABRIK AUGSBURG-NUREMBERG (MAN) SE , MEMBRANE TECHNOLOGY RESEARCH , NOV INC. , NETZSCH , NOOTER/ERIKSEN , OIL CHEM TECHNOLOGIES , OCCIDENTAL PETROLEUM CORP. , PQ CORP. , PETROLIAM NASIONAL BERHAD (PETRONAS) , PREMIER ENERGY , SIEMENS , ROLLS-ROYCE , SNF GROUP , SPM OIL & GAS INC. , STEPAN CO. , SULZER , STREAM-FLO , TAM INTERNATIONAL , TEXAS IRON WORKS CORP. , TEI-STRUTHERS WELLS , UNITECH ASIA PACIFIC LTD. , UBE CORP. , VOGT POWER INTERNATIONAL INC. , VEOLIA , WEATHERFORD INTERNATIONAL |
Report Highlights
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.
Report Includes
- 28 data tables and 81 additional tables
- An overview of the global market for enhanced oil recovery (EOR) technologies that are deployed for increasing productivity in the oil fields
- Analyses of global market trends with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Segmentation of the EOR technologies’ market by categories including steam flooding, in-situ combustion, chemical flooding, hydrocarbon gas flooding, nitrogen gas flooding and carbon dioxide flooding
- Marketing assessment of EOR technologies as essential tools with an ability to reduce a country’s or a region’s dependence on oil imports, thereby help achieving greater energy independence and security
- Coverage of the all viable EOR technologies along with their installation and operation including 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
- Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR
- Information on governments’ roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available
- Company profiles of the major players of the market, including AkzoNobel, BASF, Dow Chemical Co., Hayward Gordon, Praxair, Rolls-Royce, and TIW Corp.
Report Highlights
The global enhanced oil recovery (EOR) market totaled nearly $22.9 billion in 2016 and should total $30.4 billion by 2021, with a five-year compound annual growth rate (CAGR) of 5.9% through 2021.
Report Includes
- An overview of the global market for enhanced oil recovery (EOR) technologies that are implemented to recover crude oil from reservoirs after primary and secondary recovery methods have ceased to be productive enough to continue normal field operations economically.
- Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- Identification of the various EOR 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, and various other equipment and facilities; other important products include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen, and CO2.
- Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR.
- Examination of governments' roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available.
Report Highlights
The global enhanced oil recovery market totaled $21 billion in 2012 and is projected to increase to nearly $22.6 billion in 2013; the market should total $34.4 billion by 2018, with a five-year compound annual growth rate (CAGR) of 8.8% from 2013 to 2018.
Report Includes
- An overview of the global market for enhanced oil recovery (EOR) technologies that are implemented to recover crude oil from reservoirs after primary and secondary recovery methods have ceased to be productive enough to continue normal field operation economically.
- Analyses of global market trends, with data from 2010, 2011 and 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018.
- Identification of the various EOR 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, and various other equipment and facilities; other important products include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen, and CO2.
- Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR.
- Examination of government roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available.
Report Highlights
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Tempered by the ongoing global economic recovery, between 2009 and 2014 the world market for enhanced oil recovery (EOR) technologies is expected to increase by a factor of 3.5, from $4.7 billion to $16.3 billion, a compound annual growth rate (CAGR) of 28.4%.
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The most extensive growth, in terms of total dollars, will occur in the North American market. This region was valued at $3.3 billion in 2009 and is expected to increase at a compound annual growth rate (CAGR) of 26% to reach $10.3 billion in 2014.
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South America will experience the highest compound annual growth rate (CAGR) of 374%, increasing in value from $1 million in 2009 to $2.4 billion in 2014.