Press release
Enhanced Oil Recovery Market Size, Share, Growth Trends, and Forecast 2021-2031
According to the research report, the global market for enhanced oil recovery stood at US$ 48.6 Bn in 2020. Progressing at a CAGR of 4.7% between 2021 and 2031, the market is projected to reach value of US$ 80.5 Bn by the end of the forecast period. Thermal, gas, and chemical are the key technologies used in enhanced oil recovery, states the market report.
๐๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ - https://www.transparencymarketresearch.com/enhanced-oil-recovery.html
The business landscape prevalent in the global enhanced oil recovery market (EOR) is highly competitive, states a new research report by Transparency Market Research (TMR). With the constant entry of new players and the augmenting competition between local and international vendors, customers can expect an array of new products with technological innovation over the next few years. Cenovus Energy Inc., Chevron Corporation, BP Plc, Anadarko Petroleum Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc, and Statoil ASA are some of the leading players operating in this market, notes the research study.
๐๐๐ญ ๐๐๐ ๐๐ซ๐จ๐๐ก๐ฎ๐ซ๐ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1066
๐๐จ๐ซ๐ญ๐ก ๐๐ฆ๐๐ซ๐ข๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐ข๐ง๐ฎ๐ ๐ญ๐จ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ง๐ก๐๐ง๐๐๐ ๐๐ข๐ฅ ๐๐๐๐จ๐ฏ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ
The report also offers a regional analysis of the global market for enhanced oil recovery. According to this, Asia Pacific, Europe, North America, Latin America, and Middle East & Africa are the geographical segments of the worldwide market for enhanced oil recovery. With a share of nearly 39%, North America led the global market in 2020. Researchers expect this regional market to remain on the top over the next few years. The Middle East & Africa segment, which stood second in 2020, is also predicted to retain its position in the near future, reports the market study.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1066
๐๐ง๐๐ซ๐๐๐ฌ๐ ๐ข๐ง ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐๐ ๐ข๐ง ๐๐๐ซ๐ข๐จ๐ฎ๐ฌ ๐๐ซ๐๐๐ฌ ๐ญ๐จ ๐๐ฎ๐ฉ๐ฉ๐จ๐ซ๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก
The global market for enhanced oil recovery is expected to report significant growth in the near future. The substantial rise in demand for oil, especially in Asia Pacific, is supporting the growth of this market. Increasing depletion in oil reserves is also boosting the market. However, various challenges related to enhanced oil recovery, such as high cost incurred in the procedure and technical and operational issues, are likely to hamper the market in the next few years.
Nonetheless, considerable rise in oil production with the help of EOR in the Middle East and rise in usage of the solar EOR procedure is expected to neutralize the impact of these restraints over the next few years.
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
๐๐ข๐จ๐๐ฎ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ : https://www.prnewswire.com/news-releases/biofuel-market-to-gain-value-of-us-331-81-bn-by-2031-tmr-study-301669959.html
๐๐จ๐ฐ๐๐ซ ๐๐ข๐ฌ๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐จ๐ง ๐๐จ๐ฆ๐ฉ๐จ๐ง๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ: https://www.accesswire.com/723256/Asia-and-Australia-Power-Distribution-Component-Market-Size-to-Attain-Valuation-of-US-6-Bn-by-2030-TMR-Study
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ
Nikhil Sawlani
Transparency Market Research Inc.
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