Enhanced Oil Recovery Market Research Report – Forecast to 2027

Enhanced Oil Recovery Market Research Report Information by Technology Type, by Application type, and by Region – Forecast till 2027

ID: MRFR/E&P/4444-HCR | February, 2021 | Region : Global

Enhanced Oil Recovery Market Scenario


Enhanced Oil Recovery Market is projected to witness USD 63.4 Billion 6.53% CAGR during the forecast period.


Enhanced oil recovery methods refer to the method of recovering more oil from existing oil wells. The global oil industry is witnessing one of the major slowdowns in recent times as the oil prices dropped to historic low in 2015. One of the main reasons for the drop in prices was the reduced demand for oil in the U.S. and China due to shale oil boom. However, the ripple effect caused by the drop in oil prices severely affected the upstream industry as the majority of the operators had to scale down their production. This has led them to stop new production activities and depend on existing well for oil production for their operations. Besides, most of the oil wells around the world are already nearing their operational lifetime and oil production from these wells are constantly declining. To enhance the oil production from existing wells, oil field upstream operators are investing in enhanced oil recovery methods, which are expected to increase the oil production from existing wells.


Usually, oil is recovered from oil wells through primary recovery method by using naturally occurring forces. However, even after implementation of primary recovery method, there is still a considerable amount of oil will be left over on the well.  Enhanced oil recovery research has been extensively conducted by upstream operators across regions to increase the operational life of their wells. The enhanced oil recovery operations are carried out on both offshore and onshore wells.


On the basis of technology, the enhanced oil recovery market is segmented as thermal, chemical, microbial, and others. The thermal and chemical methods are more established procedures with several practical projects being already carried out. The chemical methods traditionally use polymer, alkaline, and surfactant methods to extract more oil from existing wells.


The global enhanced oil recovery market is driven by the fact that many government policies and initiatives support the extraction process. For instance, the power generation industry deals with the issue of CO2 emission from the operations of thermal power plants. One of the methods of oil recovery by gas technology type is by the use of CO2. This is the main reason that government initiatives and support policies enable the use of enhanced oil recovery methods, as CO2 can be used in oil recovery methods. Moreover, one of the other major drivers for the market is the increasing number of mature oil fields around the world. Many offshore oil production sites in the Gulf of Mexico and North Sea are rapidly reaching their end of operational lifetime and enhanced oil recovery methods are implemented to extend the oil fields operation. Besides, the global is expected to grow in recent years with increasing consumption from countries such as China, India, and other developing countries.


The enhanced oil recovery market is expected to face regulatory concerns, which may hinder the growth of the market.


Key Players


The key players in the global enhanced oil recovery market are Praxair Technology, PJSC Lukoil Oil Company , FMC Technologies, Inc., Chevron Phillips Chemical Corporation, Schlumberger Ltd., Royal Dutch Shell Plc, Halliburton Corporation, Basf SE, Baker Hughes, a GE company, Statoil ASA, BP Plc., Exxon Mobil, and Titan Oil Recovery.


Market Segmentation


 Enhanced Oil Recovery Market


Global Enhanced Oil Recovery Market


The North America and Europe regions are expected to be the major markets for the global enhanced oil recovery market. As the number of mature oil fields is on the rise in these regions, it is expected that many upstream oil service providers would increasingly look into the enhanced oil recovery methods for increased production. The Asia Pacific region is expected to with countries, such as Malaysia, Indonesia, and Australia, looking forward to implementing enhanced oil recovery in their oil fields. Implementation of enhanced oil recovery methods further decreases a country’s dependence on oil imports, which further drives the market for enhanced oil recovery.

Table of content

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat of New Entrants

3.1.2 Bargaining power of buyers

3.1.3 Bargaining power of suppliers

3.1.4 Threat of substitutes

3.1.5 Segment rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Enhanced Oil Recovery Market, By Technology Type

5.1 Introduction

5.2 Thermal

5.2.1 Market Estimates & Forecast, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.2.3 Steam Injection

5.2.3.1 Market Estimates & Forecast, 2020-2027

5.2.3.2 Market Estimates & Forecast by Region, 2020-2027

5.2.4 In-Situ Combustion

5.2.4.1 Market Estimates & Forecast, 2020-2027

5.2.4.2 Market Estimates & Forecast by Region, 2020-2027

5.2.5 Hot water

5.2.4.1 Market Estimates & Forecast, 2020-2027

5.2.4.2 Market Estimates & Forecast by Region, 2020-2027

5.3 Chemical

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

5.3.3 Polymer

5.3.3.1 Market Estimates & Forecast, 2020-2027

5.3.3.2 Market Estimates & Forecast by Region, 2020-2027

5.3.4 Alkaline

5.3.4.1 Market Estimates & Forecast, 2020-2027

5.3.4.2 Market Estimates & Forecast by Region, 2020-2027

5.3.5 Surfactant

5.3.5.1 Market Estimates & Forecast, 2020-2027

5.3.5.2 Market Estimates & Forecast by Region, 2020-2027

5.3.6 Others

5.3.6.1 Market Estimates & Forecast, 2020-2027

5.3.6.2 Market Estimates & Forecast by Region, 2020-2027

5.4 Microbial

5.4.1 Market Estimates & Forecast, 2020-2027

5.4.2 Market Estimates & Forecast by Region, 2020-2027

5.4.3 Cyclic Injection

5.4.3.1 Market Estimates & Forecast, 2020-2027

5.4.3.2 Market Estimates & Forecast by Region, 2020-2027

5.4.4 Microbial Flooding

5.4.4.1 Market Estimates & Forecast, 2020-2027

5.4.4.2 Market Estimates & Forecast by Region, 2020-2027

5.4.5 Feeding Existing Bacteria

5.4.5.1 Market Estimates & Forecast, 2020-2027

5.4.5.2 Market Estimates & Forecast by Region, 2020-2027

5.4.5 Others

5.4.3.1 Market Estimates & Forecast, 2020-2027

5.4.3.2 Market Estimates & Forecast by Region, 2020-2027

6 Global Enhanced Oil Recovery Market, By Application Type

6.1 Introduction

6.2 Onshore

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Offshore

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

9 Global Enhanced Oil Recovery Market, By Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020-2027

9.2.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.2.3 Market Estimates & Forecast by Application Type, 2020-2027

9.2.4 U.S.

9.2.4.1 Market Estimates & Forecast, 2020-2027

9.2.4.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.2.4.3 Market Estimates & Forecast by Application Type, 2020-2027

9.2.5 Canada

9.2.5.1 Market Estimates & Forecast, 2020-2027

9.2.5.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.2.5.3 Market Estimates & Forecast by Application Type, 2020-2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020-2027

9.3.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.3 Market Estimates & Forecast by Application Type, 2020-2027

9.3.4 U.K

9.3.4.1 Market Estimates & Forecast, 2020-2027

9.3.4.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.4.3 Market Estimates & Forecast by Application Type, 2020-2027

9.3.5 Germany

9.3.5.1 Market Estimates & Forecast, 2020-2027

9.3.5.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.5.3 Market Estimates & Forecast by Application Type, 2020-2027

9.3.6 Norway

9.3.6.1 Market Estimates & Forecast, 2020-2027

9.3.6.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.6.3 Market Estimates & Forecast by Application Type, 2020-2027

9.3.7 Russia

9.3.7.1 Market Estimates & Forecast, 2020-2027

9.3.7.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.7.3 Market Estimates & Forecast by Application Type, 2020-2027

9.3.8 Rest of Europe

9.3.8.1 Market Estimates & Forecast, 2020-2027

9.3.8.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.3.8.3 Market Estimates & Forecast by Application Type, 2020-2027

9.4 Asia Pacific

9.4.1 Market Estimates & Forecast, 2020-2027

9.4.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.3 Market Estimates & Forecast by Application Type, 2020-2027

9.4.4 China

9.4.4.1 Market Estimates & Forecast, 2020-2027

9.4.4.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.4.3 Market Estimates & Forecast by Application Type, 2020-2027

9.4.5 Indonesia

9.4.5.1 Market Estimates & Forecast, 2020-2027

9.4.5.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.5.3 Market Estimates & Forecast by Application Type, 2020-2027

9.4.6 Malaysia

9.4.6.1 Market Estimates & Forecast, 2020-2027

9.4.6.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.6.3 Market Estimates & Forecast by Application Type, 2020-2027

9.4.7 Rest of Asia Pacific

9.4.7.1 Market Estimates & Forecast, 2020-2027

9.4.7.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.4.7.3 Market Estimates & Forecast by Application Type, 2020-2027

9.5 Middle East and Africa

9.5.1 Market Estimates & Forecast, 2020-2027

9.5.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.5.3 Market Estimates & Forecast by Application Type, 2020-2027

9.5.4 Saudi Arabia

9.5.4.1 Market Estimates & Forecast, 2020-2027

9.5.4.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.5.4.3 Market Estimates & Forecast by Application Type, 2020-2027

9.5.5 Kuwait

9.5.5.1 Market Estimates & Forecast, 2020-2027

9.5.5.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.5.5.3 Market Estimates & Forecast by Application Type, 2020-2027

9.5.6 Nigeria

9.5.6.1 Market Estimates & Forecast, 2020-2027

9.5.6.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.5.6.3 Market Estimates & Forecast by Application Type, 2020-2027

9.5.7 Rest of Middle East

9.5.7.1 Market Estimates & Forecast, 2020-2027

9.5.7.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.6 Rest of the World

9.6.1 Market Estimates & Forecast by country, 2020-2027

9.6.2 Market Estimates & Forecast by Technology Type, 2020-2027

9.6.3 Market Estimates & Forecast by Application Type, 2020-2027

10 Competitive Landscape

11 Company Profile

11.1 Praxair Technology, Inc.

11.1.1 Company Overview

11.1.2 Product/Services Offering

11.1.3 Financial Overview

11.1.4 Key Developments

11.1.5 Strategy

11.1.6 SWOT Analysis

11.2 PJSC Lukoil Oil Company

11.2.1 Company Overview

11.2.2 Product /Services Offering

11.2.3 Financial Overview

11.2.4 Key Developments

11.2.5 Strategy

11.2.6 SWOT Analysis

11.3 FMC Technologies, Inc.

11.3.1 Company Overview

11.3.2 Product /Services Offering

11.3.3 Financial Overview

11.3.4 Key Developments

11.3.5 Strategy

11.3.6 SWOT Analysis

11.4 Chevron Phillips Chemical Corporation

11.4.1 Company Overview

11.4.2 Product /Services Offering

11.4.3 Financial Overview

11.4.4 Key Developments

11.4.5 Strategy

11.4.6 SWOT Analysis

11.5 Schlumberger Ltd.

11.5.1 Company Overview

11.5.2 Product /Services Offering

11.5.3 Financial Overview

11.5.4 Key Developments

11.5.5 Strategy

11.5.6 SWOT Analysis

11.6 Royal Dutch Shell Plc

11.6.1 Company Overview

11.6.2 Product /Services Offering

11.6.3 Financial Overview

11.6.4 Key Developments

11.6.5 Strategy

11.6.6 SWOT Analysis

11.7 Halliburton Corporation

11.7.1 Company Overview

11.7.2 Product /Services Offering

11.7.3 Financial Overview

11.7.4 Key Developments

11.7.5 Strategy

11.7.6 SWOT Analysis

11.8 BASF SE

11.8.1 Company Overview

11.8.2 Product /Services Offering

11.8.3 Financial Overview

11.8.4 Key Developments

11.8.5 Strategy

11.8.6 SWOT Analysis

11.9 Baker Hughes, a GE company

11.9.1 Company Overview

11.9.2 Product /Services Offering

11.9.3 Financial Overview

11.9.4 Key Developments

11.9.5 Strategy

11.9.6 SWOT Analysis

11.10 Statoil ASA

11.10.1 Company Overview

11.10.2 Product /Services Offering

11.10.3 Financial Overview

11.10.4 Key Developments

11.10.5 Strategy

11.11 BP Plc.

11.11.1 Company Overview

11.11.2 Product /Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.11 Exxon Mobil

11.11.1 Company Overview

11.11.2 Product /Services Offering

11.11.3 Financial Overview

11.11.4 Key Developments

11.11.5 Strategy

11.11.6 SWOT Analysis

11.13 Titan Oil Recovery

11.13.1 Company Overview

11.13.2 Product /Services Offering

11.13.3 Financial Overview

11.13.4 Key Developments

11.13.5 Strategy

11.13.6 SWOT Analysis

List of Tables

Table 1 Global Enhanced Oil Recovery Market: By Region, 2020-2027

Table 2 North America Enhanced Oil Recovery Market: By Country, 2020-2027

Table 3 Europe Enhanced Oil Recovery Market: By Country, 2020-2027

Table 4 Asia Pacific Enhanced Oil Recovery Market: By Country, 2020-2027

Table 5 RoW Enhanced Oil Recovery Market: By Country, 2020-2027

Table 6 Global Enhanced Oil Recovery Market, by Technology Type, By Regions, 2020-2027

Table 7 North America Enhanced Oil Recovery Market, by Technology Type, By Country, 2020-2027

Table 8 Europe Enhanced Oil Recovery Market, by Application type, By Country, 2020-2027

Table 9 Asia Pacific Enhanced Oil Recovery Market by Technology Type, By Country, 2020-2027

Table 10 RoW Enhanced Oil Recovery Market by Technology Type, By Country, 2020-2027

Table 11 Global Enhanced Oil Recovery Market by Application Market: By Regions, 2020-2027

Table 12 North America Enhanced Oil Recovery Market by Application: By Country, 2020-2027

Table 13 Europe Enhanced Oil Recovery Market by Application: By Country, 2020-2027

Table 14 Asia Pacific Enhanced Oil Recovery Market by Application: By Country, 2020-2027

Table 15 RoW Enhanced Oil Recovery Market by Application: By Country, 2020-2027

Table 16 Global Enhanced Oil Recovery Market, by Implementation Type, By Regions, 2020-2027

Table 17 North America Enhanced Oil Recovery Market, by Implementation Type, By Country, 2020-2027

Table 18 Europe Enhanced Oil Recovery Market, by Implementation Type, By Country, 2020-2027

Table 19 Asia Pacific Enhanced Oil Recovery Market, by Implementation Type, By Country, 2020-2027

Table 20 RoW Enhanced Oil Recovery Market, by Implementation Type, By Country, 2020-2027

Table 21 Global Enhanced Oil Recovery Market: By Region, 2020-2027

Table 22 Global Enhanced Oil Recovery Market: By Region, 2020-2027

Table 23 Global Enhanced Oil Recovery Market: By Region, 2020-2027

Table 24 North America Enhanced Oil Recovery Market, By Country

Table 25 North America Enhanced Oil Recovery Market, by Technology Type

Table 26 North America Enhanced Oil Recovery Market, by Application

Table 27 North America Enhanced Oil Recovery Market, By Implementation Type

Table 28 North America Enhanced Oil Recovery Market, By End-User

Table 29 Europe: Enhanced Oil Recovery Market, By Country

Table 30 Europe: Enhanced Oil Recovery Market, by Technology Type

Table 31 Europe: Enhanced Oil Recovery Market, by Application

Table 32 Europe: Enhanced Oil Recovery Market, By Implementation Type

Table 33 Europe: Enhanced Oil Recovery Market, By End-User

Table 34 Asia Pacific: Enhanced Oil Recovery Market, By Country

Table 35 Asia Pacific: Enhanced Oil Recovery Market, by Technology Type

Table 36 Asia Pacific: Enhanced Oil Recovery Market, by Application

Table 37 Asia Pacific: Enhanced Oil Recovery Market, By Implementation Type

Table 38 Asia Pacific: Enhanced Oil Recovery Market, By End-User

Table 39 RoW: Enhanced Oil Recovery Market, By Region

Table 40 RoW Enhanced Oil Recovery Market, by Technology Type

Table 41 RoW Enhanced Oil Recovery Market, by Application

Table 42 RoW Enhanced Oil Recovery Market, By Implementation Type

Table 43 RoW Enhanced Oil Recovery Market, By End-User


List of Figures

FIGURE 1 RESEARCH PROCESS OF MRFR

FIGURE 2 TOP DOWN & BOTTOM UP APPROACH

FIGURE 3 MARKET DYNAMICS

FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS

FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS

FIGURE 6 PORTER’S FIVE FORCES ANALYSIS

FIGURE 7 VALUE CHAIN ANALYSIS

FIGURE 8 GLOBAL ENHANCED OIL RECOVERY MARKETSHARE, BY TECHNOLOGY TYPE, 2020 (%)

FIGURE 9 GLOBAL ENHANCED OIL RECOVERY MARKET, BY TECHNOLOGY TYPE, 2020-2027 (USD MILLION)

FIGURE 10 GLOBAL ENHANCED OIL RECOVERY MARKETSHARE, BY IMPLEMENTATION TYPE, 2020 (%)

FIGURE 11 GLOBAL ENHANCED OIL RECOVERY MARKET, BY IMPLEMENTATION TYPE, 2020-2027 (USD MILLION)

FIGURE 12 GLOBAL ENHANCED OIL RECOVERY MARKET SHARE (%), BY REGION, 2020

FIGURE 13 GLOBAL ENHANCED OIL RECOVERY MARKET, BY REGION, 2020-2027 (USD MILLION)

FIGURE 14 NORTH AMERICA ENHANCED OIL RECOVERY MARKETSHARE (%), 2020

FIGURE 15 NORTH AMERICA ENHANCED OIL RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 16 EUROPE ENHANCED OIL RECOVERY MARKETSHARE (%), 2020

FIGURE 17 EUROPE ENHANCED OIL RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 18 ASIA PACIFIC ENHANCED OIL RECOVERY MARKETSHARE (%), 2020

FIGURE 19 ASIA PACIFIC ENHANCED OIL RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)

FIGURE 20 REST OF THE WORLD ENHANCED OIL RECOVERY MARKETSHARE (%), 2020

FIGURE 21 REST OF THE WORLD ENHANCED OIL RECOVERY MARKETBY COUNTRY, 2020-2027 (USD MILLION)