Reservoir Analysis Market, to witness 20.4% CAGR by 2027

Pune, India, October 2019, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Reservoir Analysis Market.

Market Highlights

Reservoir analysis instruments help determine the flow-related properties of the reservoir fluids and formation so that producers and exploratory companies can optimize their production and recovery techniques through a systematic application of integrated, multidisciplinary technologies. The process of reservoir analysis helps improve precision, efficiency, and reliability in reservoirs. They help mitigate the effects of uncertainties by optimizing reservoir performance by monitoring and controlling size, complexity, reservoir and fluid properties, depletion state, and regulatory controls in the reservoir.

North America is one of the largest markets for reservoir analysis. According to the BP Statistical Review of World Energy report, 2019, the primary energy consumption per capita of North America increased by 1.9% from 235.3 Gigajoules per capita (GJ/Capita) in 2017 to 239.8 GJ/Capita in 2018 of the region. Moreover, according to the US Energy Information Administration (EIA), in 2018, approximately 6.44 million BPD of crude oil was produced from tight oil resources in the US. Increased energy consumption and exploration and production of oil & gas are the factors attributed to the growth of the market for reservoir analysis during the forecast period.

The global market for reservoir analysis is segmented based on reservoir type, service, application, and region. Based on reservoir type, the global market has been segmented into conventional and unconventional. By service, the global market has been divided into geo modeling & reservoir simulation, data acquisition & monitoring, and reservoir sampling. By application, the market is segmented as onshore and offshore.

Drivers: Global Reservoir Analysis Market
 

Market Research Analysis

By region, the market for the reservoir analysis is segmented into North America, Asia-Pacific, Europe, Middle East & Africa, and South America. into North America dominates the global reservoir analysis market followed by Europe. The increase in extraction & production of oil and gas increases the demand for hydrogen recovery as it allows the extraction of fossil fuels in large amounts easily and provides a safer and environmentally friendly disposal method for carbon dioxide. These developments lead to an increase in the demand for high energy and hydrocarbon recovery which propels the demand for reservoir analysis market in the North America region.   

The US is one of the largest market share in North America for reservoir analysis market. As per the data published in BP Statistical Review of World Energy, 2019, the primary energy consumption per capita increased from 286.9 GJ/Capita in 2017 to 294.8 GJ/Capita in 2018, registering a growth of 2.8% in the US. The increased demand for energy drives the exploration and production of oil and gas in the country to meet the energy demand. Additionally, the advancement of new technologies helps increase the reliability in the reservoir analysis. For instance, in November 2017, Schlumberger Limited (US) introduced Advanced Digital Integration for the analysis of rocks and fluids in its Houston reservoir laboratory for advanced reservoir characterization. Therefore, the increasing energy demand, & hydrocarbon recovery and development of new technologies which drives the demand for reservoir analysis during the forecast period.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/reservoir-analysis-market-7757

Scope of the Report

This study provides an overview of the global reservoir analysis market, tracking three market segments across five geographic regions. The report studies key players, providing a four-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global reservoir analysis market by reservoir type, service, application, and region.

By Reservoir Type

• Conventional


• Unconventional

By Service

• Data Acquisition & Monitoring


• Geo Modelling & Reservoir Simulation


• Reservoir Sampling

By Application

• Data Acquisition & Monitoring


• Geo Modelling& Reservoir Simulation


• Reservoir Sampling

By Region

• North America 


• Asia-Pacific 


• Europe


• Middle East & Africa


• South America 

Key Players

The major players operating in the global reservoir analysis market are Schlumberger Limited (US), Halliburton (US), Weatherford International PLC (US), SGS SA (Switzerland), General Electric (US), ALS Limited (Australia), CGG (France), Emerson Electric Co. (US), Tristan (Canada Core Laboratories (US), Expro Group (UK), and Intertek Group plc (UK).