Press release
Enhanced Oil Recovery (EOR) Market offshore segment is expected to grow at CAGR of 7.2% till 2025
The global enhanced oil recovery (EOR) market size is estimated to reach USD 55.02 billion by 2025, fueled by the increasing demand for energy in a broad range of applications including manufacturing, infrastructure and utilities. Rising number of aged wells resulting in low oil output has paved the way for advanced technologies including EOR to achieve optimum production.Keeping these driving factors in mind, companies are focusing on developing advanced technologies to extract more oil from existing wells rather than erecting new wells. For instance, in June 2014, Statoil ASA opened its new research & development center for improved oil recovery at Rotvoll in Trondheim, mid-Norway.
BP, a producer of energy and EOR, launched the concept of “Bright Water”, which is a thermally activated microscopic particle that increases oil recovery by directing water into potentially untapped oil-rich areas. Since its inception, the technology has undergone several modifications to make it suitable for every type of terrain and age of the well.
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 the 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.
Find More Details of Report at - https://www.hexaresearch.com/research-report/enhanced-oil-recovery-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
Key players analyzed:
• China Petroleum & Chemical Corporation
• BP plc
• ExxonMobil Corporation
• Royal Dutch Shell plc
• Chevron Phillips Chemical Company LP
• Petronas
• Nalco Company
• Statoil ASA
• Lukoil Oil Company
• Praxair, Inc.
Read Related Category Market Reports at – https://www.hexaresearch.com/research-category/energy-and-power-industry
About Us
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Contact Us:
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: sales@hexaresearch.com
Phone: +1-408-342-1548, Toll Free: +1-800-489-3075
Address: Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Enhanced Oil Recovery (EOR) Market offshore segment is expected to grow at CAGR of 7.2% till 2025 here
News-ID: 1721231 • Views: …
More Releases from Hexa Research
Acetic Acid Market Research & Development | Industry Report, 2022
The global acetic acid market will be valued at more than $13 billion in 2022. Growing demand for applications like Purified Terephthalic Acid (PTA) and Vinyl Acetate Monomer (VAM) will contribute to this growth. PTA is increasingly being consumed for manufacturing polyester, which is an important constituent of the textile and packaging industries. PTA is expected to witness the fastest growth with a CAGR of more than 4.9% from 2015…
Digitally Printed Wallpaper Market Research & Development | Industry Report, 202 …
The global digitally printed wallpaper market is anticipated to reach USD 13.07 billion by 2025 from USD 2.33 billion in 2017 and is expected to register a CAGR of 24.01% from 2017 to 2025. Growing awareness of home decor market is expected to drive the market for the residential and nonresidential segments. Increased construction in the emerging economies, growth in the residential sector and increasing consumer desire for premium home…
U.S. Organic Food Market Size and Share | Industry Report, 2025 | Hexa Research
The U.S. organic food market size is expected to reach USD 70.4 billion by 2025 as a result of increasing demand from consumers. Consumers in U.S. seek convenient purchasing options and organic food, which is now easily available, is gaining popularity. These food products are available in more than 20,000 natural food stores and conventional grocery stores across the country.
Over the past decade, organic food has witnessed significant growth. Sold…
Online Gambling Market Size and Share | Industry Report, 2024 | Hexa Research
The global online gambling market size is anticipated to reach USD 73.45 billion by 2024 owing to rising prevalence gambling across the globe. Technological advancements and addition of new regulations are expected to boost market demand over the forecast period. Furthermore, growing adoption of smartphones and tablets and easy access to online platforms are anticipated to drive the market.
Companies are focusing on developing mobile applications with secure money transfer facilities…
More Releases for EOR
Hiring in Bangladesh: Laws, Culture & EOR Explained
Why Growing Businesses Are Hiring in Bangladesh to Build Compliant Global Teams
As the world shifts towards borderless work and remote-first hiring, Bangladesh has emerged as a strategic hiring destination for growing businesses. From cost-effective talent to favorable time zones, companies are no longer just expanding - they're expanding smart. For startups and scaling businesses especially, Bangladesh offers a fresh opportunity to build remote teams without the cost and complexity of…
Employer of Record (EOR) in Poland
Introduction to EOR in Poland
Expanding your business internationally can be both a profitable and exciting venture, but it also presents its challenges. Navigating labor laws, managing payroll, and ensuring compliance in a new country like Poland requires significant expertise and resources. This is where Employer of Record (EOR) services can make a big difference.
In this guide, we'll cover all the key aspects you need to know about using an Employer…
Surfactant Eor Market Size to Hit $90.13 Million by 2028 | Surfactant Eor Indust …
According to our experience research team, Surfactant Eor Market was valued at USD 70.6 Million in 2021, and the global Surfactant Eor industry is projected to reach a value of USD 90.13 Million by 2028, at a CAGR of 3.1% during the forecast period 2022-2028
The report is focused on gaining various Surfactant Eor market trends, dynamics, growth drivers, opportunities, weaknesses, strengths, and threats restraining the market growth. Further, the global…
CO2 EOR Market 2022 | Detailed Report
The CO2 EOR research report provides a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The data thus presented is reliable, comprehensive and the result of extensive research both primary and secondary. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. Moreover, the data underlines the primary and secondary drivers,…
Surfactants for EOR Market
https://www.qandqmarketresearch.com/reports/7112443/surfactants-for-eor-market-38
Global Surfactants for EOR market size will increase to Million US$ by 2025, from Million US$ in 2017, at a CAGR of during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Surfactants for EOR.
This report researches the worldwide Surfactants for EOR market size value, capacity, production and consumption in key…
Surfactant EOR Market 2018 Global Size, Share Analysis by Top Key Players(Surfac …
The Research begins with the Overview of Global Surfactant EOR Market Analysing Industrial Chain, Sourcing Strategy and Downstream Buyers. The Research also provide Information about Manufacturers, Market Competition, Cost, and Market Effect Factors with Market Forecast (2018-2025). This enables the buyer of the report to gain a telescopic view of the competitive landscape and plan the strategies accordingly.
This study categorizes the global Surfactant EOR breakdown data by manufacturers, region, type…
