Enhanced Oil Recovery (EOR) Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Occidental Petroleum Corp. PetroChina Company Ltd. Petroleo Brasileiro S.A. (Petrobras)

EOR market is anticipated to grow at a CAGR of 6.9% during the forecast period. The growth of the market is mainly driven by the rising global energy demand, due to factors such as population expansion, industrialization, and urban development. Additionally, with depleting conventional oil reserves, there is an increasing reliance on EOR techniques to optimize production from existing oil fields. Ongoing technological advancements, stringent environmental regulations, and the demand for sustainable energy solutions are promoting the adoption of technologies that mitigate the environmental impact of oil extraction, eventually driving overall demand for enhanced oil fields. Apart from these factors, the changing geopolitical landscape and fluctuations in oil prices also influence the market, pushing market players to invest in enhanced oil recovery projects.

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The global EOR market is segmented by technique and application. Based on the technique, the market is sub-segmented into gas injection, thermal injection, chemical injection, and other (microbial injection). Based on the application, the market is bifurcated into offshore and onshore applications.

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• Market Coverage
• Market number available for - 2024-2031
• Base year- 2024
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global EOR Market by Technique
o Gas Injection
o Thermal Injection
o Chemical Injection
o Other (Microbial Injection)

Global EOR Market by Application
o Offshore
o Onshore

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o Baker Hughes Co.
o Cenovus Energy Inc.
o Chevron Corp.
o China National Petroleum Corp.
o ConocoPhillips
o Ecopetrol S.A.
o Gazprom Neft
o Halliburton Co.
o Kinder Morgan, Inc.
o Lukoil
o Occidental Petroleum Corp.
o PetroChina Company Ltd.
o Petroleo Brasileiro S.A. (Petrobras)
o Praxair Technology Inc.
o Royal Dutch Shell plc
o Schlumberger Ltd.
o Suncor Energy Inc.
o Weatherford International PLC

The Report Covers
• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the EOR market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.

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