Lucintel Forecasts the Global Enhanced Oil Recovery Market to Reach $58 Billion by 2030
Lucintel Forecasts the Global Enhanced Oil Recovery Market to Reach $58 Billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global enhanced oil recovery market looks promising with opportunities in the onshore and offshore markets. The global enhanced oil recovery market is expected to reach an estimated $58 billion by 2030 from $40 billion in 2024 at a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are diminishing production from the current oilfields and an increase in the number of older wells, continuous improvements in EOR technologies, like state-of-the-art reservoir management systems and well drilling, as well as, growing demand for energy.
A more than 150-page report to understand trends, opportunity and forecast in enhanced oil recovery market to 2030 by technology (thermal EOR, chemical EOR, gas EOR, and others), application (onshore and offshore), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that thermal EOR will remain the largest segment over the forecast period because it reduces viscosity and increases oil movement through the reservoir.
North America will remain the largest region over the forecast period due to the nations mature fields and numerous unconventional oil and gas resources, which call for sophisticated extraction methods to increase production from already-existing wells.
Halliburton, Schlumberger, Baker Hughes, Royal Dutch Shell, BASF, Linde, Air Liquide, TechnipFMC, ChampionX, XYTEL are the major suppliers in the enhanced oil recovery market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056