Enhanced Oil Recovery Market Size to Grow by USD 24.33 Billion with 34% of the Contribution from North America - Technavio

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Market Dynamics

• Key Driver: Exploring unconventional resources is one of the key drivers supporting the enhanced oil recovery (EOR) market growth. Oil and gas companies are focusing on increasing the efficiency of oil and gas exploration and production activities to increase oil and gas production from these projects and meet the energy demand. 
• Key Trend: Increasing R&D investment is one of the key enhanced oil recovery market trends fueling the market growth. Primarily, some local governments are investing to ensure optimum utilization of the available oil resources. In addition, a significant amount of investment is required for R&D to mitigate the risks associated with enhanced oil recovery technology while reducing the overall costs.
• Key Challenge: Environmental risks associated with enhanced oil recovery technologies are one of the factors challenging the enhanced oil recovery (EOR) market growth. Enhanced oil recovery projects are responsible for large-scale air, water, land, and groundwater pollution. Different techniques such as surface disposal, ocean disposal, reservoir reinjection, and disposal from another brine formation are used for the disposal of water.

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Competitive Analysis

The enhanced oil recovery market is fragmented and the vendors are deploying growth strategies such as increasingly focusing on R&D to compete in the market. To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The enhanced oil recovery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Top Enhanced Oil Recovery Market Companies are:

• Baker Hughes Co.
• BP Plc
• Cenovus Energy Inc.
• ChampionX Corp.
• Chemiphase Ltd.
• Chevron Corp.
• Clariant International Ltd.
• DuPont de Nemours Inc.
• Halliburton Co.
• Japan Petroleum Exploration Co. Ltd. 
• Linde Plc
• Oil and Natural Gas Corp. Ltd.
• Petroleum Development Oman LLC
• Qyrin Petroleum Technology
• Schlumberger Ltd.
• Shell plc
• TechnipFMC plc
• Titan Oil Recovery Inc.
• TotalEnergies SE
• XYTEL Corp.

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Market Segmentation

• By Technology, the market is classified into Thermal injection, gas injection, chemical injection, and others. Thermal injection involves the introduction of heat in the form of steam or hot water into the oil well. The heat increases reservoir temperature, reduces the viscosity of oil, and improves oil movement through the well. During thermal recovery, crude oil undergoes physical and chemical changes due to the effects of the heat supplied. During the process, usually, a shift in rock wettability occurs, which enhances the chances for better oil recovery, and thus, it is the most preferred technology over others. Such preference for using thermal injection will boost the EOR market growth during the forecast period.
• By Geography, the market is classified as North America, Europe, APAC, Middle East, and South America. North America will have the largest share of the market. 34% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for enhanced oil recovery market in North America. Market growth in this region will be faster than the growth of the market in Europe and South America. A huge mature oil and gas asset base in the Gulf of Mexico will facilitate the enhanced oil recovery market growth in North America over the forecast period. 

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Table of Content

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Technology

• 5.1 Market segments
• Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)

• 5.2 Comparison by Technology
• Exhibit 26: Chart on Comparison by Technology
• Exhibit 27: Data Table on Comparison by Technology

• 5.3 Thermal injection - Market size and forecast 2021-2026
• Exhibit 28: Chart on Thermal injection - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Thermal injection - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Thermal injection - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Thermal injection - Year-over-year growth 2021-2026 (%)

• 5.4 Gas injection - Market size and forecast 2021-2026
• Exhibit 32: Chart on Gas injection - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Gas injection - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Gas injection - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Gas injection - Year-over-year growth 2021-2026 (%)

• 5.5 Chemical injection - Market size and forecast 2021-2026
• Exhibit 36: Chart on Chemical injection - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Chemical injection - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Chemical injection - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Chemical injection - Year-over-year growth 2021-2026 (%)

• 5.6 Others - Market size and forecast 2021-2026
• Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by Technology
• Exhibit 44: Market opportunity by Technology ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026
• Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East - Market size and forecast 2021-2026
• Exhibit 62: Chart on Middle East - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Middle East - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Middle East - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Middle East - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 Canada - Market size and forecast 2021-2026
• Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.10 Norway - Market size and forecast 2021-2026
• Exhibit 78: Chart on Norway - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Norway - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Norway - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Norway - Year-over-year growth 2021-2026 (%)

• 7.11 China - Market size and forecast 2021-2026
• Exhibit 82: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.12 Russia - Market size and forecast 2021-2026
• Exhibit 86: Chart on Russia - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on Russia - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on Russia - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on Russia - Year-over-year growth 2021-2026 (%)

• 7.13 UK - Market size and forecast 2021-2026
• Exhibit 90: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 91: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 92: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 93: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.14 Market opportunity by geography
• Exhibit 94: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 95: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 96: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 97: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 98: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 99: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 100: Matrix on vendor position and classification

• 10.3 Baker Hughes Co.
• Exhibit 101: Baker Hughes Co. - Overview
• Exhibit 102: Baker Hughes Co. - Business segments
• Exhibit 103: Baker Hughes Co. - Key news
• Exhibit 104: Baker Hughes Co. - Key offerings
• Exhibit 105: Baker Hughes Co. - Segment focus

• 10.4 BP Plc
• Exhibit 106: BP Plc - Overview
• Exhibit 107: BP Plc - Business segments
• Exhibit 108: BP Plc - Key offerings
• Exhibit 109: BP Plc - Segment focus

• 10.5 ChampionX Corp.
• Exhibit 110: ChampionX Corp. - Overview
• Exhibit 111: ChampionX Corp. - Product / Service
• Exhibit 112: ChampionX Corp. - Key offerings

• 10.6 Chevron Corp.
• Exhibit 113: Chevron Corp. - Overview
• Exhibit 114: Chevron Corp. - Business segments
• Exhibit 115: Chevron Corp. - Key news
• Exhibit 116: Chevron Corp. - Key offerings
• Exhibit 117: Chevron Corp. - Segment focus

• 10.7 Halliburton Co.
• Exhibit 118: Halliburton Co. - Overview
• Exhibit 119: Halliburton Co. - Product / Service
• Exhibit 120: Halliburton Co. - Key news
• Exhibit 121: Halliburton Co. - Key offerings

• 10.8 Linde Plc
• Exhibit 122: Linde Plc - Overview
• Exhibit 123: Linde Plc - Business segments
• Exhibit 124: Linde Plc - Key news
• Exhibit 125: Linde Plc - Key offerings
• Exhibit 126: Linde Plc - Segment focus

• 10.9 Schlumberger Ltd.
• Exhibit 127: Schlumberger Ltd. - Overview
• Exhibit 128: Schlumberger Ltd. - Business segments
• Exhibit 129: Schlumberger Ltd. - Key offerings
• Exhibit 130: Schlumberger Ltd. - Segment focus

• 10.10 Shell plc
• Exhibit 131: Shell plc - Overview
• Exhibit 132: Shell plc - Business segments
• Exhibit 133: Shell plc - Key news
• Exhibit 134: Shell plc - Key offerings
• Exhibit 135: Shell plc - Segment focus

• 10.11 TotalEnergies SE
• Exhibit 136: TotalEnergies SE - Overview
• Exhibit 137: TotalEnergies SE - Business segments
• Exhibit 138: TotalEnergies SE - Key news
• Exhibit 139: TotalEnergies SE - Key offerings
• Exhibit 140: TotalEnergies SE - Segment focus

• 10.12 XYTEL Corp.
• Exhibit 141: XYTEL Corp. - Overview
• Exhibit 142: XYTEL Corp. - Product / Service
• Exhibit 143: XYTEL Corp. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 144: Inclusions checklist
• Exhibit 145: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 146: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 147: Research methodology
• Exhibit 148: Validation techniques employed for market sizing
• Exhibit 149: Information sources

• 11.5 List of abbreviations
• Exhibit 150: List of abbreviations

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