According to the report, global enhanced oil recovery market was valued at around USD 60 billion in 2014 and is expected to reach USD 225 billion in 2020, growing at a CAGR of around 25% between 2015 and 2020. In terms of volume, global enhanced oil recovery market stood at approximately 2,200.0 million barrels in 2014. Zion Market Research has published a new report titled “Enhanced Oil Recovery (Thermal Injection, Gas Injection, and Chemical Injection Technology) Market – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”.
The report covers forecast and analysis for the enhanced oil recovery market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2015 to 2020 based on both volumes (Million Barrels) and revenue (USD Billion). The study includes drivers and restraints for the enhanced oil recovery market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the enhanced oil recovery market on a global level.
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In order to give the users of this report a comprehensive view on the enhanced oil recovery market, we have included a detailed competitive scenario, buying criteria and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the enhanced oil recovery market has also been included. The study encompasses a market attractiveness analysis, wherein technology segments are benchmarked based on their market size, growth rate, and general attractiveness.
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The study provides a decisive view on the enhanced oil recovery market by segmenting the market based on technology and sub-types. All the technology segments have been analyzed based on present and future trends and the market is estimated from 2014 to 2020. Key technologies covered under this study include the enhanced oil recovery by thermal injection, gas injection and chemical injection. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Rest of the World with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India, and Brazil. This segmentation includes demand for enhanced oil recovery on individual applications in all the regions and countries.
Enhanced oil recovery market was dominated by North America with over 35% share of the total market in 2014. North America is followed by Asia Pacific and Europe. Latin America and Middle East & Africa are also expected to exhibit significant growth over the forecast period.
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Enhanced oil recovery manufacturers have a significant impact on the value chain through a higher degree of forwarding integration. These companies manufacture raw materials as well as the final product and use it in specific industry and applications. Key players operating in this market include ExxonMobil Corporation, BP, China Petroleum & Chemical Corporation, Royal Dutch Shell, Conoco Phillips, Chevron Chemicals, Petronas, Cenovus Energy, Petrobras, Nalco Company, Statoil Asa, Lukoil, Praxair Technology, Inc.