Published by Wanda Rich
Posted on September 10, 2021
6 min readLast updated: February 11, 2026
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The new report by Expert Market Research titled, ‘Global Enhanced Oil Recovery Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global enhanced oil recovery market, assessing the market based on its segments like technology, chemical outlook, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/enhanced-oil-recovery-market/requestsample
The key highlights of the report include:
Market Overview (2016-2026)
The growth of global market for enhanced oil recovery is being driven by the global demand for crude oil and the necessity for higher efficiency in oil recovery. To maintain profitability, the requirement of high recovery factor in the extraction of crude oil, is expected to boost the demand for tertiary recovery during the forecast period. Additionally, the ambitious strategies of market players to utilise offshore sources of crude oil is likely to augment the market growth. However there was a hinderance to the growth due to the drastically fluctuating prices during the COVID-19 pandemic, and a global shift towards renewable sources.
Industry Definition and Major Segments
Enhanced oil recovery, otherwise known as tertiary recovery, is the process of removing crude oil from an oil field that cannot be extracted conventionally. Compared to the removal of 20% to 40% of a reservoir’s oil, using primary and secondary recovery, this process can extract 30% to 60% or more.
The industry can be broadly categorised based on its technology into:
The industry can be divided based on its chemical outlook as:
On the basis of application, the industry can be divided as:
The regional markets for enhanced oil recovery include:
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/enhanced-oil-recovery-market
Market Trends
North America and Middle East are projected to be the major markets during the forecast period attributing to the increasing number of mature oil fields. Likewise, the market is expected to witness smooth growth in other regions as well, to meet the oil recovery targets. Resultantly, the growing demand for unconventional gas production across the world is probable to offer momentum to the use of gas injection technique which will dominate the market in coming years. Moreover, the market was hit adversely by the coronavirus pandemic, worldwide, but heavy investments in R&D activities is expected to facilitate a speedy recovery of the market.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Key Market Players
The major players in the market are Halliburton Energy Services, Inc., Royal Dutch Shell plc, Schlumberger Limited, Chevron Phillips Chemical Company LLC, TechnipFMC plc, and Praxair Technology, Inc. among few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
Enhanced oil recovery, also known as tertiary recovery, is the process of extracting crude oil from oil fields that cannot be extracted using conventional methods.
The growth is primarily driven by the global demand for crude oil and the need for higher efficiency in oil recovery to maintain profitability.
North America and the Middle East are projected to be the major markets during the forecast period due to the increasing number of mature oil fields.
Major players include Halliburton Energy Services, Royal Dutch Shell, Schlumberger, Chevron Phillips Chemical, TechnipFMC, and Praxair Technology.
The enhanced oil recovery market is expected to witness a compound annual growth rate (CAGR) of 7.2% during the forecast period of 2021-2026.
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