Enhanced Oil Recovery Market to Hit $400 Billion by 2019

The enhanced oil recovery market is expected to grow at a healthy growth rate of 18.2% between 2014 and 2019.


Dallas, TX -- (SBWIRE) -- 02/03/2015 -- The report "Enhanced Oil Recovery Market by Technology (Thermal, Gas, Chemical, Microbial and Seismic) and by Applications (Onshore and Offshore) - Global Trend & Forecast to 2019" defines and segments the enhanced oil recovery market with analysis and forecasts of market volume for the enhanced oil recovery market. It also identifies driving and restraining factors for the enhanced oil recovery market with analysis of trends and opportunities.

Browse 63 market data tables and 34 figures spread through 185 pages and in-depth TOC on "Enhanced Oil Recovery Market - Global Trend & Forecast to 2019 "

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Market applications for enhanced oil recovery include onshore and offshore. The increasing global energy demand, high sustained oil prices is expected to drive the demand for enhanced oil recovery techniques. Ageing oil fields and a dearth of conventional oil fields would also boost the demand for enhanced oil recovery market.

The enhanced oil recovery market is projected to grow at a CAGR of 24.2%. It is estimated to be one of the fastest growing markets. Increasing demand in oil & gas and high sustained oil prices is the prime driver for market growth.

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The leading players in industrial market include Nalco Company (U.S.), Praxair Technology, Inc. (U.S.) and Royal Dutch Shell PLC. (The Netherlands). The enhanced oil recovery market is a highly fragmented one owing to the huge energy demand and changing technologies. Major companies rely on regional and local distributors to increase their share as well as geographical presence in the market. One of the major developments observed in the enhanced oil recovery market is agreements, contracts, joint ventures, and partnerships. The applications requirements for enhanced oil recovery and well as the operating conditions are continuously changing making it essential for the manufacturers and service providers to continually invest in R&D and come up with innovative solutions. Companies are adopting inorganic growth strategies such as acquisitions to cope up with the increasing demand for enhanced oil recovery technology in key emerging markets. These strategies have aided companies create a large customer and partner base in key markets.

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