To identify growth opportunities in the reservoir analysis market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. APAC and North America will grow faster than the overall market. The growth of Europe, Middle East and Africa, and South America will be slower than the global market.
Some of the key findings from this reservoir analysis market forecast report are summarized below
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Global reservoir analysis industry overview
The rising demand for energy has created the need for advanced techniques to maximize production from oil and gas fields. The accurate modeling offered by reservoir analysis aids oil and gas operators in decision making by estimating field performance under various production schemes. Specialized coal bed methane (CBM) simulators are also being employed for reservoir simulation of CBM production. These advanced reservoir simulation techniques will encourage oil and gas companies to explore unconventional and untapped reservoirs. Technical advances in reservoir modeling will have a significant impact on the growth of the global reservoir analysis market.
Companies in the oil and gas industry are making significant investments towards developing enhanced recovery methods that will help in maximizing production from mature oil and gas fields. Emerging economies such as India and China have also increased their upstream E&P activities in new field developments to cater to the rising demand for crude oil and gas. These new and mature field developments will boost the demand for better reservoir analysis tools to maximize recovery and profits from oil and gas fields. As a result of these factors, the reservoir analysis market will register a CAGR of over 5% during the forecast period.
Top reservoir analysis companies covered in this market research report
The global reservoir analysis market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this reservoir analysis market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several reservoir analysis companies, including:
- ALS Ltd.
- Baker Hughes, a GE Co. LLC
- Halliburton Co.
- Schlumberger Ltd.
- Weatherford International Plc
Reservoir analysis market segmentation based on application
- Onshore
- Offshore
The onshore segment will account for the largest reservoir analysis market share. The increasing preference and adoption of onshore E&P activities to cater to the growing need for oil and gas products will drive the demand for reservoir analysis in onshore applications.
Reservoir analysis market segmentation based on geographic region
- APAC
- Europe
- The Middle East and Africa
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that North America will account for the largest reservoir analysis market share throughout the forecast period. The increase in upstream projects will be a major factor driving reservoir analysis market growth in this region.
Key highlights of the global reservoir analysis market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the reservoir analysis market during the next five years
- Precise estimation of the global reservoir analysis market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the reservoir analysis industry across APAC, Europe, the Middle East and Africa, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of reservoir analysis companies
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