Product Code: 978-1-68038-343-0
Enhanced Oil Recovery Market Growth & Trends:
The global enhanced oil recovery market size is expected to reach USD 62.17 Billion in 2030 and is projected to grow at a CAGR of 2.9% from 2025 to 2030. A growing number of aging wells witnessing declining production rates, coupled with rising government investment in research and development activities, is likely to drive the market for enhanced oil recovery (EOR) over the forecast period.
Increasing technological advancements are enabling E&P companies to revive old wells and thus attain optimum production. This trend is estimated to positively influence the EOR industry landscape. The increasing number of mature wells and significant investment in R&D activities for new technology development by various market players to improve the oil recovery process are expected to fuel the growth of the industry.
Industry participants enter into several strategic collaborations, mergers & acquisitions, and joint ventures in order to expand their foothold across various regional markets and develop economic technologies. The technologies used in EOR are mostly in-housed by the companies. To further reduce the overall operational costs, market players procure raw materials such as nitrogen, carbon dioxide, polymer, and others from small-scale regional players.
The COVID-19 pandemic has severely disrupted the oil and gas market with drastically plummeting oil prices resulting in delayed drilling projects. The demand for crude oil is anticipated to drop further due to reduced industrial activity and transport due to COVID-19. These factors are expected to negatively affect the growth of the market in the near future.
Enhanced Oil Recovery Market Report Highlights:
- Thermal held the market with the largest revenue share of 39.1% in 2024. Thermal technology lowers the oil viscosity and increases its mobility ratio, thereby enhancing the oil recovery process
- The rise in environmental concerns regarding carbon emissions has resulted in an enhanced demand for the carbon capture and storage (CCS) market, which has emerged as a viable solution to limit carbon emissions.
- The Offshore application segment occupied the largest revenue share in 2024 owing to the significant presence of onshore exploration and production projects across the world, along with lower conventional extraction costs for onshore oilfields
- North America accounted for the largest revenue share in 2024 owing to the presence of a large number of existing and new EOR projects under operation across the region in countries such as the U.S. and Canada
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Projects & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2024 (Million bbl, USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Enhanced Oil Recovery Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospects Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Regulatory Framework
- 3.4.1. Standards & Compliances
- 3.4.2. Regulatory Impact Analysis
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Challenges Analysis
- 3.5.4. Market Opportunity Analysis
- 3.6. Business Environment Analysis
- 3.6.1. Industry analysis - porter's five forces analysis
- 3.6.2. Industry analysis - Pestle analysis
Chapter 4. Enhanced Oil Recovery Market: Technology Estimates & Trend Analysis
- 4.1. Technology Movement Analysis & Market Share, 2024 & 2030
- 4.2. Thermal
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 4.3. CO2 Injection
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 4.4. Chemical
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 4.5. Others
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
Chapter 5. Enhanced Oil Recovery Market: Application Estimates & Trend Analysis
- 5.1. Application Movement Analysis & Market Share, 2024 & 2030
- 5.2. Onshore
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 5.3. Offshore
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
Chapter 6. Enhanced Oil Recovery Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Movement Analysis & Market Share, 2024 & 2030
- 6.3. North America
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.3.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.3.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.3.4. U.S.
- 6.3.4.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.3.4.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.3.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.3.5. Canada
- 6.3.5.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.3.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.3.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.3.6. Mexico
- 6.3.6.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.3.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.3.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.4. Europe
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.4.1.1. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.4.1.2. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.4.2. Germany
- 6.4.2.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.4.2.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.4.2.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.4.3. U.K.
- 6.4.3.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.4.3.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.4.3.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.4.4. France
- 6.4.4.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.4.4.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.4.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.4.5. Italy
- 6.4.5.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.4.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.4.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.4.6. Spain
- 6.4.6.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.4.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.4.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.4.7. Russia
- 6.4.7.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.4.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.4.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.5. Asia Pacific
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.5.4. China
- 6.5.4.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.5.4.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.5.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.5.5. India
- 6.5.5.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.5.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.5.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.5.6. Japan
- 6.5.6.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.5.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.5.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.5.7. Australia
- 6.5.7.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.5.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.5.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.6. Central & South America
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.6.4. Brazil
- 6.6.4.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.6.4.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.6.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.6.5. Argentina
- 6.6.5.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.6.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.6.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.7. Middle East & Africa
- 6.7.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.7.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.7.4. Saudi Arabia
- 6.7.4.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.7.4.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.7.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.7.5. South Africa
- 6.7.5.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.7.5.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.7.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
- 6.7.6. UAE
- 6.7.6.1. Market estimates and forecasts, 2018 - 2030 (Million bbl, USD Million)
- 6.7.6.2. Market estimates and forecasts, by Technology, 2018 - 2030 (Million bbl, USD Million)
- 6.7.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million bbl, USD Million)
Chapter 7. Competitive Landscape
- 7.1. Key Players & Recent Developments & Their Impact on the Industry
- 7.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 7.3. List of key Component Suppliers and Channel Partners
- 7.4. Company Market Share & Position Analysis, 2024
- 7.5. Company Heat Map Analysis
- 7.6. Competitive Dashboard Analysis
- 7.7. Strategy Mapping
- 7.7.1. Expansion
- 7.7.2. Collaboration/ Partnerships/ Agreements
- 7.7.3. New Technology launches
- 7.7.4. Mergers & Acquisitions
- 7.7.5. Research & Development
- 7.7.6. Others
- 7.8. Company Listing / Profiles
- 7.8.1. ExxonMobil Corporation
- 7.8.1.1. Company Overview
- 7.8.1.2. Financial Performance
- 7.8.1.3. Product Benchmarking
- 7.8.2. BP plc
- 7.8.2.1. Company Overview
- 7.8.2.2. Financial Performance
- 7.8.2.3. Product Benchmarking
- 7.8.3. China Petroleum & Chemical Corporation
- 7.8.3.1. Company Overview
- 7.8.3.2. Financial Performance
- 7.8.3.3. Product Benchmarking
- 7.8.4. Total SA
- 7.8.4.1. Company Overview
- 7.8.4.2. Financial Performance
- 7.8.4.3. Product Benchmarking
- 7.8.5. Royal Dutch Shell plc
- 7.8.5.1. Company Overview
- 7.8.5.2. Financial Performance
- 7.8.5.3. Product Benchmarking
- 7.8.6. Chevron Corporation
- 7.8.6.1. Company Overview
- 7.8.6.2. Financial Performance
- 7.8.6.3. Product Benchmarking
- 7.8.7. Petroleo Brasileiro S.A.
- 7.8.7.1. Company Overview
- 7.8.7.2. Financial Performance
- 7.8.7.3. Product Benchmarking
- 7.8.8. LUKOIL
- 7.8.8.1. Company Overview
- 7.8.8.2. Financial Performance
- 7.8.8.3. Product Benchmarking
- 7.8.9. Cenovus Energy, Inc.
- 7.8.9.1. Company Overview
- 7.8.9.2. Financial Performance
- 7.8.9.3. Product Benchmarking
- 7.8.10. Equinor ASA
- 7.8.10.1. Company Overview
- 7.8.10.2. Financial Performance
- 7.8.10.3. Product Benchmarking