Global Enhanced Oil Recovery Market Size & Outlook
The global enhanced oil recovery market size was estimated at USD 46,401.3 million in 2019 and is projected to reach USD 62,100.0 million by 2027, growing at a CAGR of 3.7% 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 |
|---|---|---|---|---|
| ExxonMobil | View profile | 10001+ | Irving, Texas, United States, North America | https://corporate.exxonmobil.com |
| Cenovus Energy | View profile | 1001-5000 | Calgary, Alberta, Canada, North America | http://www.cenovus.com |
| LUKOIL | View profile | 10001+ | Moscow, Moscow City, Russian Federation, Europe | http://www.lukoil.com/# |
| Equinor ASA | View profile | 24467 | Forusbeen 50, Stavanger, Norway, N-4035 | https://www.equinor.com |
| BP PLC | View profile | 87800 | 1 St James's Square, London, United Kingdom, SW1Y 4PD | https://www.bp.com |
| Petroleo Brasileiro SA Petrobras ADR | View profile | 40213 | Avenida Republica do Chile, 65, Rio de Janeiro, RJ, Brazil, 20031-912 | https://www.petrobras.com.br |
| TotalEnergies SE | View profile | 100000 | 2, Place Jean Millier, La Defense 6, Courbevoie, France, 92400 | https://www.totalenergies.com |
| Chevron Corp | View profile | 45600 | 6001 Bollinger Canyon Road, San Ramon, CA, United States, 94583-2324 | https://www.chevron.com |
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)
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