Global Enhanced Oil Recovery Market 2017-2021

  • Published: May 2017
  • Pages: 70
  • SKU: IRTNTR13029

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This market research study identifies BP, Chevron, Halliburton, Royal Dutch Shell, and Schlumberger as the leading players in the global enhanced oil recovery market. A comprehensive analysis of this market is also presented by the technology (thermal injection, gas injection, chemical injection, and others) and by geography (the Americas, APAC, and EMEA).

Overview of the global enhanced oil recovery market

As per the Technavio’s market research report, the global enhanced oil recovery market is expected to grow at a steady rate and post a CAGR of close to 11% during the forecast period. The growth of unconventional sources of hydrocarbons will be one of the major factors driving the growth prospects of the global enhanced oil recovery market until the end of 2021.  Since the natural pressure of flow in unconventional hydrocarbons is lost quickly within one year of operations, the demand for recovery techniques for the extraction of these resources increases, which, in turn, will influence the market’s growth in the forthcoming years. Also, the market is anticipating an increase in the future exploration and production rate of oil and gas from unconventional hydrocarbon resources that will further result in the increasing demand for enhanced oil recovery (EOR) activities. Moreover, the rising number of shale exploration activities in multiple areas of the US, such as New York, Mississippi, Alaska, and Utah will also drive the enhanced oil recovery market growth.

One of the major trends that will gain traction in the global enhanced oil recovery market will be the development of polymer enhanced oil recovery technology. With the contamination of environment becoming one of the major challenges faced by EOR operations, there are a number of research and development activities being carried out for the usage of organic compounds for EOR operations. Since polymer based enhanced oil recovery methods increase the oil recovery rates and prove to be environment-friendly due to their organic nature, the market will witness an increase in their usage for oil recovery in the next few years.

Competitive landscape and key vendors

The enhanced oil recovery market comprises of various vendors and is highly-competitive. These vendors are increasingly competing against each other based on factors such as price, quality, and market presence. The vendors are increasingly taking efforts to reduce cost and improve the effectiveness of the EOR operations by concentrating on research and developmental activities. Furthermore, with the increasing concern over various issues related to environmental contamination, a number of vendors are encouraged to develop a wide range of products that are biodegradable in nature.

Key vendors in this market are -

  • BP
  • Chevron
  • Halliburton
  • Royal Dutch Shell
  • Schlumberger

Other prominent vendors in the market include BlackPearl, Canadian Natural, Cenovus Energy, CNOOC, ConocoPhillips, Devon Energy, Exxon Mobil, Husky Energy, Kinder Morgan, LUKOIL, MEG Energy, NALCO, Murphy Oil, Occidental Petroleum, PetroChina, PETROBRAS, PETRONAS, Praxair Technology, REX ENERGY, Statoil, and Wintershall.

Segmentation by technology and analysis of the enhanced oil recovery market

  • Thermal injection
  • Gas injection
  • Chemical injection

During 2016, the enhanced oil recovery market was dominated by the thermal injection technology segment. Thermal injection technology is most widely used for enhanced oil recovery operations among the primary oil recovery and secondary oil recovery methods. Factors such as the low cost and high recovery rates associated with the use of thermal injection technology will help this segment retain its dominance throughout the projected period.

Segmentation by geography and analysis of the enhanced oil recovery market

  • Americas
  • APAC
  • EMEA

During 2016, the Americas accounted for the largest market shares and the region is likely to experience a high growth rate during the estimated period as well. The presence of a huge mature oil and gas asset base in Gulf of Mexico contributes to the growth of the enhanced oil recovery market in the Americas. Moreover, the availability of a good potential for unconventional sources of oil and gas in various countries such as Canada, the US, Mexico, and Argentina will also boost the market’s growth in the region.

Key questions answered in the report include

  • What will the enhanced oil recovery market size and the growth rate be in 2021?
  • What are the key factors driving the global enhanced oil recovery market?
  • What are the key market trends impacting the growth of the global enhanced oil recovery market?
  • What are the challenges to enhanced oil recovery market growth?
  • Who are the key vendors in the global enhanced oil recovery market?
  • What are the market opportunities and threats faced by the vendors in the global enhanced oil recovery market?
  • What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the global enhanced oil recovery market?

Technavio also offers customization on reports based on specific client requirement.

Technavio’s industry research reports for the energy portfolio project a range of different markets including power, oil and gas, and energy storage. In addition to providing information on several parameters including the shift in customer choices and factors driving the market, Technavio’s market research reports include a comprehensive analysis of the prominent vendors along with their latest products and services, market size, and the competitive analysis.

By considering a detailed research approach of quantitative and qualitative data collection methods and by covering various factors including the growing demand for an array of products across different geographical regions, research analysts at Technavio identify the oil and gas sector’s growth prospects to help clients formulate effective business strategies. This upcoming industry report on the enhanced oil recovery market also considers the growth of related markets such as the smart well market and bunker oil market, which is expected to project a CAGR of above 4% and more than 3%, respectively during the period of 2017 to 2021. According to our industry experts, the growth of unconventional sources of hydrocarbons is expected to accelerate to the growth rate of the enhanced oil recovery market. To help businesses achieve higher market share, Technavio also offers to provide customized reports based on the requirements of numerous clients.

The impending industry research report for the global enhanced oil recovery market also identifies the prominent drivers, trends, coupled with the significant challenges currently experienced by vendors in the embedded systems sector. 

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Table of Contents

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

  • Market outline

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Geographical segmentation

  • Global enhanced oil recovery market by geography
  • Enhanced oil recovery market in the Americas
  • Enhanced oil recovery market in EMEA
  • Enhanced oil recovery market in APAC

PART 07: Market segmentation by technology

  • Global enhanced oil recovery market by technology
  • Global enhanced oil recovery market by thermal injection technology
  • Global enhanced oil recovery market by gas injection technology
  • Global enhanced oil recovery market by chemical injection technology

PART 08: Decision framework

PART 09: Drivers and challenges

  • Market drivers
  • Market challenges

PART 10: Market trends

  • Development of polymer enhanced oil recovery technology
  • Use of CO₂ for deepwater enhanced oil recovery operations
  • Increasing R&D investment

PART 11: Vendor landscape

  • Competitive scenario
  • Other prominent vendors

PART 12: Key vendor analysis

  • BP
  • Chevron
  • Halliburton
  • Royal Dutch Shell
  • Schlumberger

PART 13: Appendix

  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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