Global Enhanced Oil Recovery Market Size & Outlook
The enhanced oil recovery industry worldwide is expected to reach a projected revenue of US$ 62,100.0 million by 2027. A compound annual growth rate of 3.7% is expected of the worldwide enhanced oil recovery industry from 2020 to 2027.
Revenue, 2019 (US$M)
$46,401.3
Forecast, 2027 (US$M)
$62,100.0
CAGR, 2020 - 2027
3.7%
Report Coverage
Worldwide
Global enhanced oil recovery market, 2016-2027 (US$M)
Related Markets
Global enhanced oil recovery market highlights
- The global enhanced oil recovery market generated a revenue of USD 46,401.3 million in 2019 and is expected to reach USD 62,100.0 million by 2027.
- The market is expected to grow at a CAGR (2020 - 2027) of 3.7% by 2027.
- In terms of segment, thermal accounted for a revenue of USD 18,326.2 million in 2019.
- CO2 Injection is the most lucrative technology segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2019.
- Country-wise, Brazil is expected to register the highest CAGR from 2020 to 2027.
Global data book summary
| Market revenue in 2019 | USD 46,401.3 million |
| Market revenue in 2027 | USD 62,100.0 million |
| Growth rate | 3.7% (CAGR from 2019 to 2027) |
| Largest segment | Thermal |
| Fastest growing segment | CO2 Injection |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermal, CO2 Injection, Chemical |
Other key industry trends
- In terms of revenue, the North America accounted for 38.0% of the global enhanced oil recovery market in 2019.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2027.
- By country, Brazil is the fastest growing regional market and is projected to reach USD 2,472.9 million by 2027.
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Enhanced Oil Recovery Market Scope
Enhanced oil recovery market segmentation & scope
Enhanced Oil Recovery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global enhanced oil recovery market size, by regions, 2016-2027 (US$M)
Top 10 countries: Enhanced oil recovery market size, 2019 (US$M)
Global enhanced oil recovery market share, by technology, 2019 & 2027 (%, US$M)
Enhanced oil recovery market: Opportunity assessment by country
Global enhanced oil recovery market, by region, 2019 (US$M)
| Technology | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 12,804.6 | 15,236.9 | 19,870.4 | 17,642.5 | 11,750.7 | 14,787.8 | 16,096.3 | 17,558.9 | 19,019.3 | 20,539.1 | 22,114.5 | 23,753.3 | 3.8% |
| Europe | 6,209.8 | 7,367.4 | 9,579.4 | 8,480.0 | 5,631.3 | 7,065.7 | 7,667.9 | 8,339.7 | 9,006.3 | 9,696.8 | 10,409.2 | 11,147.0 | 3.5% |
| Asia Pacific | 7,721.3 | 9,264.0 | 12,180.3 | 10,902.4 | 7,319.9 | 9,285.2 | 10,190.8 | 11,203.6 | 12,229.4 | 13,308.0 | 14,437.7 | 15,624.4 | 4.6% |
| Latin America | 3,722.5 | 4,347.1 | 5,556.5 | 4,838.3 | 3,156.2 | 3,896.2 | 4,141.9 | 4,428.7 | 4,690.2 | 4,955.2 | 5,211.4 | 5,471.0 | 1.6% |
| MEA | 3,295.2 | 3,919.2 | 5,113.7 | 4,538.1 | 3,024.2 | 3,800.0 | 4,142.7 | 4,512.2 | 4,890.1 | 5,278.2 | 5,686.1 | 6,104.4 | 3.8% |
| Overall | 33,753.2 | 40,134.5 | 52,300.1 | 46,401.3 | 30,882.3 | 38,834.9 | 42,239.5 | 46,043.0 | 49,835.3 | 53,777.2 | 57,858.9 | 62,100.0 | 3.7% |
Related regional statistics
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