Transparency Market Research has released a new market
report titled "Enhanced Oil Recovery (EOR) Market: Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2023," that
defines and segments the enhanced oil recovery market with analysis and
forecast of the global volume and revenues. This report observes that the
revenue of enhanced oil recovery technology was USD 38.1 billion in 2012 and is
expected to reach USD 516.7 billion by 2023 and is anticipated to grow at a
CAGR of 26.7% between 2013 to 2023.
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Global Enhanced Oil Recovery (EOR)
Market Report with Full TOC:
Key enhanced oil recovery methods analyzed in this
study include thermal injection, gas injection and chemical injection. Thermal
injection was the largest technology by volume and accounted for about 51.5% of
the market share in 2012. This is a mature segment and is expected to show
decline as compare to the other technologies. Gas EOR technology is expected to
rise by 0.1%, accounting for 38.5% in 2023. Chemical EOR technology is expected
to rise from 10.03% in 2012 to 29.71% in 2023.
North America dominated the global market for enhanced
oil recovery in 2012. With over 38.9% global market share in terms of volume,
the North America is the leading market in enhanced oil recovery. This is
mainly attributed to the huge demand from the U.S., Canada and Mexico. RoW
accounted for about 30.9% of the total volume share in 2012. Europe and Rest of
the World (RoW) are expected to exhibit the highest growth rate over the
forecast period considering upcoming EOR projects in Russia, UK and Middle East.
Europe is a lucrative market for commercial development and expansions and is
expected to rise from 9.5% to 13.1% between 2013 and 2023. In the year 2012, Asia
Pacific accounted for 20.7% of the global enhanced oil recovery market but it
is expected to show a decline as China is the only country with maximum EOR
projects in the Asia Pacific region. The global enhanced oil recovery market
has witnessed significant growth during the recent past.
Companies including Anadarko Petroleum Corporation, BP
Plc, Cenovus Energy Inc, Chevron Corporation, ConocoPhillips, ExxonMobil
Corporation, OAO Lukoil, Petronas, Royal Dutch Shell Plc and Statoil ASA are
expected to dominate the market. Other companies such as Hamon Deltak Inc.,
Nooter/Eriksen, Premier Energy Inc, Vogt Power, EN-FAB Inc. and others are some
of the important players in the Steam surface generation enhanced oil recovery
market.
Enhanced Oil Recovery Market: Technological
Analysis
- Thermal
Injection
- Gas
Injection
- Chemical
Injection
Enhanced Oil Recovery Market: Regional
Analysis
- North
America
- Europe
- Asia
Pacific
- Rest
of the World (RoW)
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