The global market size of Thermal Enhanced Oil Recovery is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2025 with a CAGR of XX% from 2019 to 2025.
Thermal enhanced oil recovery involves the introduction of heat such as the injection of steam to lower the viscosity, or thin, the heavy viscous oil, and improve its ability to flow through the reservoir.
Increasing member of enhanced oil recovery polymer injection plants is expected to propel growth of the global thermal enhanced oil recovery market over the forecast period. For instance, in September 2020, BASF installed enhanced oil recovery polymer injection plants.
Use of AI in oil recovery is expected to offer lucrative growth opportunities for players in the global thermal enhanced oil recovery market. For instance, in September 2020, researchers from Skolkovo Institute of Science and Technology, in collaboration with Lukoil-Engineering LLC, reported use of machine learning to accurately predict rock thermal conductivity, a crucial parameter for enhanced oil recovery. The research was published in the Geophysical Journal International.
However, adoption of marine-based carbon capture systems is expected to hinder growth of the global thermal enhanced oil recovery market. For instance, in August 2020, Mitsubishi Shipbuilding Co. Ltd., in cooperation with Kawasaki Kisen Kaisha Ltd. and ClassNK, announced conducting test operations and measurements for a small-scale ship-based CO2 capture demonstration plant in order to verify the equipment’s use as a marine-based CO2 capture system.
Loss of revenue due to Covid-19 in the oil and gas sector is also expected to hinder growth of the global thermal enhanced oil recovery market. For instance, according to Fitch Ratings Inc., the U.S.-based credit rating agency, the oil and gas sector is expected to lose US$1.8 trillion in 2020.
The global thermal enhanced oil recovery market is witnessing liquidation of several companies. For instance, in March 2020, GlassPoint, a venture capital-funded startup that targeted solar enhanced oil recovery (EOR), underwent liquidation.
Major players in the global thermal enhanced oil recovery market are focused on R&D of new technologies to enhance their market share. For instance, in September 2020, Acceleware Ltd., a developer of technologies targeting low-cost and clean extraction of heavy oil and bitumen, announced that the U.S. Patent and Trademark Office has granted patent No. 10,760,392, Apparatus and Methods for Electromagnetic Heating of Hydrocarbon Formations.
Key Takeaways
- Increasing member of enhanced oil recovery polymer injection plants is expected to propel growth of the global thermal enhanced oil recovery market over the forecast period
- Major players in the global thermal enhanced oil recovery market are focused on adopting M&A strategies to enhance their market share. For instance, in July 2020, Chevron Corporation entered into a definitive agreement with Noble Energy, Inc. to acquire all of the outstanding shares of Noble Energy.
- Major players operating in the global thermal enhanced oil recovery market include, ExxonMobil Corporation, BP plc, Royal Dutch Shell plc, Total SA, and Chevron Corporation
Global Thermal Enhanced Oil Recovery Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Thermal Enhanced Oil Recovery industry.
The key insights of the report:
1.The report provides key statistics on the market status of the Thermal Enhanced Oil Recovery manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2025 market development trends of Thermal Enhanced Oil Recovery industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Thermal Enhanced Oil Recovery Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Thermal Enhanced Oil Recovery as well as some small players.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share
For product type segment, this report listed main product type of Thermal Enhanced Oil Recovery market
* Product Type I
* Product Type II
* Product Type III
For end use/application segment, this report focuses on the status and outlook for key applications. End users are also listed.
* Application I
* Application II
* Application III
For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.
Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.
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