Enhanced Oil Recovery Technologies Ands Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

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Market Snapshot

CAGR:7.14
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 7.14
Energy & Power-companies
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Report Overview

Report Scope

The scope of this investigation includes all of the major viable EOR technologies that are currently being implemented in the global oil industry. Besides hydrofracturing, tight sands or tight oil extraction are categorized as Improved Oil Recovery (IOR), of which EOR is a subset, EOR was originally developed as a means to extract additional oil from reservoirs after primary and secondary recovery methods ceased to be productive enough to maintain economical field operation. In some cases, the EOR technologies considered in this report may also be applied immediately after the initial well drilling. These applications are common for fields where primary and secondary recovery technologies are incapable of producing adequate oil in any phase of an oilfield operation.

The installation and operation of EOR technologies can include various products and components such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, gas recapture and separation systems, and various other equipment and facilities. Other important products of EOR technology include oil recovery media such as surfactants, polymers, alkali chemicals, liquid nitrogen and CO2. Although steam and onsite-compressed atmospheric nitrogen are also important oil recovery media, they are not considered EOR technology products within this report because they are available at minimal or no direct cost, unlike CO2 or specialized injection chemicals, which must be supplied to an EOR operation.

The market analysis provided in this report presents region-specific and country-specific market valuation data for each of the EOR technologies considered in this study. These include breakdowns for the following categories:
- Steam Flooding.
- In Situ Combustion.
- Chemical Flooding.
- Hydrocarbon Gas Flooding.
- Nitrogen Flooding.
- Carbon Dioxide Flooding.

Estimated values in each of these categories are based on manufacturers' total revenues. Projected and forecasted revenue values are in constant US dollars (2017), unadjusted for inflation.

Emerging EOR technologies that may become commercially viable within the next five years are summarized, for example Solar EOR, but are not included in the market assessment of this report. BCC Research analyzes each major viable EOR technology, determines its current market status, examines its impact on future markets and presents forecasts of growth over the next five years. BCC Research analyzes the industry on a worldwide basis in terms of its manufacturing and the deployment of its technologies or products. BCC Research also examines government roles in support of EOR technologies worldwide, including regulatory support, government requirements and promotional incentives for various EOR technologies as relevant and available. BCC Research provides a review of the most relevant EOR technologies, discusses recent trends in capacity installation and unit sales, and provides industry overviews and market assessments for each EOR technology.

Report Includes

- 28 data tables and 81 additional tables
- An overview of the global market for enhanced oil recovery (EOR) technologies that are deployed for increasing productivity in the oil fields
- Analyses of global market trends with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Segmentation of the EOR technologies' market by categories including steam flooding, in-situ combustion, chemical flooding, hydrocarbon gas flooding, nitrogen gas flooding and carbon dioxide flooding
- Marketing assessment of EOR technologies as essential tools with an ability to reduce a country's or a region's dependence on oil imports, thereby help achieving greater energy independence and security
- Coverage of the all viable EOR technologies along with their installation and operation including various products and components such as injection pumps, wellheads, specialized well tubing, chemical feeder systems, air separation units, gas compressors, blowers, steam generators, specialized storage vessels, gas recapture and separation systems, and various other equipment and facilities
- Discussion of the most recent government, industry, and academic data regarding the amount of oil in place that potentially can be extracted via EOR
- Information on governments' roles in support of EOR technologies worldwide, including regulatory support, government requirements, and promotional incentives for various EOR technologies as relevant and available
- Company profiles of the major players of the market, including AkzoNobel, BASF, Dow Chemical Co., Hayward Gordon, Praxair, Rolls-Royce, and TIW Corp.

Summary

Enhanced oil recovery (EOR) has been overshadowed by unconventional extraction techniques such as horizontal drilling and hydro fracture, but nonetheless remains a significant toolset in the portfolio of available extraction technologies. These technologies support continued growth in oil production across the world, even where hydro fracture is not applied, and where aging oil fields grow increasingly depleted.

Global EOR deployment has reduced in the wake of low oil prices in 2015 and further dropped to the lowest in 2016, resulting in a significant decrease in global oil extraction and production activities from the major Oil and Gas companies in private and public sectors. This unanticipated drop in crude oil prices had slowed EOR developments in comparison to prior development rates and projections. Nonetheless, EOR technologies in most areas globally continue to grow since 2017, and some specific technologies are flourishing and gaining popularity, especially carbon dioxide flooding with highest adoption rates. The EOR technologies vary considerably, however, from country to country, where a specific EOR technology may be highly viable and developing rapidly in one country or region, but stagnant or even declining in another due to the availability of investments, raw materials, technologies and the geographic location. Variability is driven by differences in formation characteristics as well as regulatory and economic variability, which have in some places coalesced to support strong markets. In other areas, while actions by the Organization of Petroleum Exporting Countries (OPEC) have helped to stabilize oil prices, lower oil prices still represent critical factors, and can substantially dampen select categories of new EOR deployment across the world.

The Oil & Gas industry growth since 2017 had highlighted several key features to the world market for EOR technologies. First, EOR is no longer being sustained by persistently high oil prices, meaning that EOR providers must increase their efficiency to stay profitable; this has caused troubled roads for more costly efforts such as steam assisted gravity drainage (SAGD) in their effort to remain viable. Second, while the recent blossoming of unconventional oil production, especially in the United States, has caused an oil price drop, lower oil prices have in some regions led to the reinstatement of tax exemptions and other incentives, which tend to support EOR development. Third, EOR markets are beginning to gain traction even with major several major oil-producing nations that have historically relied only on primary and secondary extraction. Finally, with respect to concerns over climate change and greenhouse gas emissions, the advancement of carbon dioxide based EOR is linking GHG emissions reduction to oil production, opening the door for increased deployment of EOR in countries with concerns over their GHG emissions.

The tables and figures below provide a summary of the global market for EOR technologies, broken down by region. North America maintains by far the largest regional market for EOR technologies. The North American market will advance from REDACTED in 2017 to REDACTED in 2023, at a compound annual growth rate (CAGR) of REDACTED. Asia-Pacific markets are estimated to invest on chemical flood EOR in the forecast duration, rather than CO2. Asia-Pacific region markets will increase from REDACTED to REDACTED, for a CAGR of REDACTED during that period.
Table of Contents
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Intended Audience
What the Industry is Saying
Scope of Report
Worldwide Markets
Information Sources
Methodology
Geographic Breakdown
Analyst's Credentials
BCC Custom Research
Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Overview
What is Enhanced Oil Recovery?
History of Enhanced Oil Recovery
Benefits of Enhanced Oil Recovery
Drawbacks of Enhanced Oil Recovery
Enhanced Oil Recovery Technologies and Applications
Gas Flooding
Thermal Processes
Chemical Flooding
EOR Products and Equipment
EOR Services and Consultations
Emerging Technologies
Chapter 4 Regulatory Framework
North America
Federal
Select State-Level Regulation and Incentives
Canada
Mexico
South America
Brazil
Trinidad and Tobago
Venezuela
Europe
European Union
Norway
United Kingdom
Middle East and Africa
South Africa
The United Arab Emirates
Asia-Pacific
Australia
China
Indonesia
Malaysia
Chapter 5 Industry Trends
Market Dynamics
Drivers
Restraints
Industry Participants in the EOR Value Chain
Original Equipment Manufacturers/Enhanced Oil Recovery Product Suppliers
Secondary Component Manufacturers and Fabricators
Rental Enhanced Oil Recovery Equipment Providers
Construction Contractors
Enhanced Oil Recovery Consultants
Oil Exploration and Production Companies
Common Factors Influencing Global Demand
Declining Primary and Secondary Oil Production
Domestic Energy Security
Regulation
Carbon Capture and Sequestration/Storage
Oil Prices
Unconventional Oil Extraction and the Future of EOR
Details on EOR Cost
Chapter 6 Global Market for Enhanced Oil Recovery
Overview of the Global Enhanced Oil Recovery Technology Market
North America
EOR Suitability and Deployment
Market Values and Projections
Carbon Dioxide Flooding
Nitrogen Flooding
Hydrocarbon Gas Flooding
Chemical Flooding
In situ Combustion
Steam Flooding
South America
Market Values and Projections
Carbon Dioxide Flooding
Nitrogen Flooding
Hydrocarbon Gas Flooding
Chemical Flooding
In situ Combustion
Steam Flooding
Europe
Market Values and Projections
Carbon Dioxide Flooding
Nitrogen Flooding
Hydrocarbon Gas Flooding
Chemical Flooding
In situ Combustion
Steam Flooding
Middle East and Africa
Market Values and Projections
Carbon Dioxide Flooding
Nitrogen Flooding
Hydrocarbon Gas Flooding
Chemical Flooding
In situ Combustion
Steam Flooding
Asia-Pacific
Market Values and Projections
Carbon Dioxide Flooding
Nitrogen Flooding
Hydrocarbon Gas Flooding
Chemical Flooding
In situ Combustion
Steam Flooding
Chapter 7 Competitive Landscape
Market Share Analysis
Mergers, Acquisitions and Joint ventures
Chapter 8 Company Profiles
AKZONOBEL
AkzoNobel Chemicals Inc.
ARIEL
AIR LIQUIDE
Membrane Systems DuPont Air Liquide (MEDAL)
AIR PRODUCTS AND CHEMICALS, INC.
BASF
BASF Construction Polymers GmbH
BASF Corp.
BAKER HUGHES
BABCOCK & WILCOX
B&W PGG Canada Corp.
BAUER
Bauer Compressors Inc.
BORNEMANN
CHINA NATIONAL PETROLEUM CORP.
China Petroleum Technology & Development Corp.
CLAYTON INDUSTRIES
CAT PUMPS
CHAMPION TECHNOLOGIES
CHEVRON PHILLIPS CHEMICAL
CATERPILLAR
Caterpillar Oil & Gas
Solar Turbines Inc.
CRYOGENIC INDUSTRIES
CAMERON
Drilling & Production Systems
CYCLOTECH (SUBSIDIARY OF M-I SWACO)
M-I SWACO
DENBURY RESOURCES
DRESSER-RAND
DOW CHEMICAL CO. (MERGED WITH DUPONT)
DUPONT (MERGED WITH DOW CHEMICALS)
ELLIOTT
Japan Headquarters
EXXONMOBIL
ExxonMobil Gas & Power Marketing
EATON
ECO-TEC
FLOWSERVE
FMC TECHNOLOGIES
GENERAL ELECTRIC
GE Energy
GE Oil & Gas
GENERON INNOVATIVE GAS SYSTEMS
GARDNER DENVER
Gardner Denver Nash
GUILD ASSOCIATES
BASF Catalysts LLC
HAMMELMANN GMBH
Hammelmann Corp.
Interpump Group
HAYWARD GORDON
HAMON DELTAK
Hamon Corp.
HALLIBURTON
U.S. Headquarters
INDUSTRIAL TECHNOLOGY MANAGEMENT
INNOVATIVE STEAM TECHNOLOGIES
Aecon Group Headquarters
KEMIRA
KINDER MORGAN
LINDE
LEISTRITZ
Leistritz Corp.
MASCHINENFABRIK AUGSBURG-NUREMBERG (MAN) SE
Regional Headquarters
MITSUBISHI HEAVY INDUSTRIES
Mitsubishi Heavy Industries America, Inc.
MEMBRANE TECHNOLOGY RESEARCH
NATIONAL OILWELL VARCO
NETZSCH
NETZSCH Pumps
NETZSCH Pumps North America
NOOTER/ERIKSEN
U.S. Headquarters
TIW Western Inc.
OIL CHEM TECHNOLOGIES
OCCIDENTAL
Occidental Chemical Corp.
PQ CORP.
PETROLIAM NASIONAL BERHAD
PRAXAIR
PREMIER ENERGY
ROLLS-ROYCE
SIEMENS
Siemens Energy
Siemens Energy Oil & Gas Division
SULZER
Sulzer Pumps
SOLVAY RHODIA
Rhodia Novecare
Solvay Chemicals US
SHELL CHEMICALS
Shell Chemical LP
SNF GROUP
STEPAN CO.
STREAM-FLO
SEEPEX
TAM INTERNATIONAL
TEXAS IRON WORKS CORP.
TIORCO (NALCO)
Ecolab USA
TEI-STRUTHERS WELLS
Thermal Engineering Intl. (USA) Inc.
Babcock Power Inc.
UNITECH ASIA-PACIFIC LTD.
Unitech Chemicals Zibo Inc.
UBE
Tokyo Head Office
UBE America Inc.
VOGT POWER INTERNATIONAL INC.
Babcock Power Inc.
VEOLIA
Veolia Water Solutions & Technologies
VWS Westgarth Headquarters
WEATHERFORD INTERNATIONAL
Engineered Chemistry Office
Engineered Chemistry Office
WOOD GROUP
U.S. Corporate Office
WEIR SPM
Weir Oil & Gas
Chapter 9 Appendix A: Abbreviations of Measurements
Chapter 10 Appendix B: References

List of Tables
Summary Table : Global Market for Enhanced Oil Recovery Technologies, by Region, Through 2023
Table A : List of Global Markets Considered in This Study
Table B : Research Information Sources
Table 1 : Enhanced Oil Recovery Technologies, by Type
Table 2 : Enhanced Oil Recovery Industry, by Company Types
Table 3 : Example of EOR Cost Variation for CO2-EOR in the U.S.
Table 4 : Global Market for Enhanced Oil Recovery, by Region, Through 2023
Table 5 : Global Market for Enhanced Oil Recovery, by Technology, Through 2023
Table 6 : North American Market for Carbon Dioxide Flooding, by Country, Through 2023
Table 7 : North American Market for Nitrogen Flooding, by Country, Through 2023
Table 8 : North American Market for Hydrocarbon Gas Flooding, by Country, Through 2023
Table 9 : North American Market for Chemical Flooding, by Country, Through 2023
Table 10 : North American Market for In Situ Combustion, by Country, Through 2023
Table 11 : North American Market for Steam Flooding, by Country, Through 2023
Table 12 : South American Market for Carbon Dioxide Flooding, by Country, Through 2023
Table 13 : South American Market for Hydrocarbon Gas Flooding, by Country, Through 2023
Table 14 : South American Market for Chemical Flooding, by Country, Through 2023
Table 15 : South American Market for In Situ Combustion, by Country, Through 2023
Table 16 : South American Market for Steam Flooding, by Country, Through 2023
Table 17 : European Market for Carbon Dioxide Flooding, by Country, Through 2023
Table 18 : European Market for Hydrocarbon Gas Flooding, by Country, Through 2023
Table 19 : European Market for Chemical Flooding, by Country, Through 2023
Table 20 : European Market for In Situ Combustion, by Country, Through 2023
Table 21 : European Market for Steam Flooding, by Country, Through 2023
Table 22 : Middle Eastern and African Markets for Carbon Dioxide Flooding, by Country, Through 2023
Table 23 : Middle Eastern and African Markets for Hydrocarbon Gas Flooding, by Country, Through 2023
Table 24 : Middle Eastern and African Markets for Chemical Flooding, by Country, Through 2023
Table 25 : Middle Eastern and African Markets for Steam Flooding, by Country, Through 2023
Table 26 : Asia-Pacific Market for Carbon Dioxide Flooding, by Country, Through 2023
Table 27 : Asia-Pacific Market for Hydrocarbon Gas Flooding, by Country, Through 2023
Table 28 : Asia-Pacific Market for Chemical Flooding, by Country, Through 2023
Table 29 : Asia-Pacific Market for In Situ Combustion, by Country, Through 2023
Table 30 : Asia-Pacific Market for Steam Flooding, by Country, Through 2023
Table 31 : Mergers, Acquisitions and Joint Ventures, 1921-2017
Table 32 : AkzoNobel Company Overview
Table 33 : Ariel Company Overview
Table 34 : Air Liquide Company Overview
Table 35 : Air Products Company Overview
Table 36 : BASF Company Overview
Table 37 : Baker Hughes Company Overview
Table 38 : Babcock & Wilcox Company Overview
Table 39 : Bauer Company Overview
Table 40 : Bornemann Company Overview
Table 41 : China National Petroleum Corp. Company Overview
Table 42 : Clayton Industries Company Overview
Table 43 : Cat Pumps Company Overview
Table 44 : Champion Technologies Company Overview
Table 45 : CPChem Company Overview
Table 46 : Caterpillar Company Overview
Table 47 : Cryogenic Industries Company Overview
Table 48 : Cameron Company Overview
Table 49 : Cyclotech Company Overview
Table 50 : Denbury Resources Company Overview
Table 51 : Dresser-Rand Company Overview
Table 52 : Dow Chemical Co. Company Overview
Table 53 : DuPont Company Overview
Table 54 : Elliott Company Overview
Table 55 : ExxonMobil Company Overview
Table 56 : Eaton Company Overview
Table 57 : Eco-Tec Company Overview
Table 58 : Flowserve Company Overview
Table 59 : FMC Technologies Company Overview
Table 60 : General Electric Company Overview
Table 61 : Generon Innovative Gas Systems Company Overview
Table 62 : Gardner Denver Company Overview
Table 63 : Guild Associates Company Overview
Table 64 : Hammelmann Company Overview
Table 65 : Hayward Gordon Company Overview
Table 66 : Hamon Deltak Company Overview
Table 67 : Halliburton Company Overview
Table 68 : Industrial Technology Management Company Overview
Table 69 : IST Company Overview
Table 70 : Kemira Company Overview
Table 71 : Kinder Morgan Company Overview
Table 72 : Linde Company Overview
Table 73 : Leistritz Company Overview
Table 74 : MAN Company Overview
Table 75 : Mitsubishi Heavy Industries Company Overview
Table 76 : Membrane Technology Research Company Overview
Table 77 : National Oilwell Varco Company Overview
Table 78 : NETZSCH Company Overview
Table 79 : Nooter/Eriksen Company Overview
Table 80 : Oil Chem Technologies Company Overview
Table 81 : Occidental Company Overview
Table 82 : PQ Corp. Company Overview
Table 83 : PETRONAS Company Overview
Table 84 : Praxair Company Overview
Table 85 : Premier Energy Company Overview
Table 86 : Rolls-Royce Company Overview
Table 87 : Siemens Company Overview
Table 88 : Sulzer Company Overview
Table 89 : Solvay Rhodia Company Overview
Table 90 : Shell Chemicals Company Overview
Table 91 : SNF Group Company Overview
Table 92 : Stepan Co. Overview
Table 93 : Stream-Flo Company Overview
Table 94 : Seepex Company Overview
Table 95 : TAM Intl. Company Overview
Table 96 : TIW Corp. Company Overview
Table 97 : Tiorco Company Overview
Table 98 : TEi-Struthers Wells Company Overview
Table 99 : Unitech Asia-Pacific Ltd. Company Overview
Table 100 : UBE Company Overview
Table 101 : Vogt Power Company Overview
Table 102 : Veolia Company Overview
Table 103 : Weatherford Intl. Company Overview
Table 104 : Wood Group Company Overview
Table 105 : Weir SPM Company Overview
Table 106 : Abbreviations of Measurements

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now letā€™s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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