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Thermal Enhanced Oil Recovery Market by Technology, by Application - Global Opportunity Analysis and Industry Forecast, 2020 - 2030

  • ID: 5314529
  • Report
  • February 2021
  • Region: Global
  • 198 pages
  • Next Move Strategy Consulting

FEATURED COMPANIES

  • BP plc
  • Chevron Corporation
  • Equinor ASA
  • Imperial Oil
  • PDVSA
  • Sinopec
  • MORE
Market Definition:

The Global Thermal Enhanced Oil Recovery Market size was valued at USD 19.50 billion in 2019 and is predicted to reach USD 24.15 billion by 2030 with a CAGR of 2.9% from 2020-2030. Thermal Enhanced Oil Recovery is a process that involves burning of natural gas to produce steam, which is then injected into the reservoir for heating heavy oils and thereby change its viscosity. This in turn simplifies the overall oil recovery process. Now-a-days solar energy is also used by the concentrating the sun rays with the help of mirrors to produce heat and carry out the recovery process.

Market Dynamics and Trends:

The rapidly growing population has led to the increased demand of oil and fuel for various purposes including automobile, machinery and others. Moreover, technological development and depleting levels of fossil fuels are expected to promote the growth of thermal enhanced oil recovery market. Other factors including maturity of oilfields, increasing amount of oil recovery from the oil fields and limited availability of natural gas are expected to further drive the market growth. However, fluctuation in oil prices and environmental impacts are expected to hinder the growth of thermal enhanced oil recovery market. On the contrary, increase in the investments and R&D activities are also expected to create lucrative opportunities in the thermal enhanced oil recovery market over the forecast period.

Market Segmentations and Scope of the Study:

The global thermal enhanced oil recovery market share is segmented on the basis of technology, application and geography. On the basis of technology, the market is segmented into Oil Sands, Heavy Oil, Steam Injection (Cyclic Steam Stimulation (CSS), Steam Flooding), Steam-Assisted Gravity Drainage (SAGD) and other. On the basis of application, the market is divided into onshore and offshore. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America is expected to account for the major market share owing to the increasing demand of oil and presence of matured wells. Moreover, technological advancements coupled with presence of developed infrastructures are expected to fuel the growth of thermal enhanced oil recovery market. However, Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the presence of developing economies such as India, China and others. Moreover, presence of large population and several oil wells across the region are also expected to promote the growth of thermal enhanced oil recovery market.

Competitive Landscape:

The thermal enhanced oil recovery market is highly competitive and consists of various market players. Some of the major market players include Suncor, Imperial Oil, ConocoPhillips, China National Offshore Oil Corporation (CNOOC), Cenovus, Equinor ASA, Royal Dutch Shell plc., PDVSA, Chevron Corporation, Occidental, Husky Energy, Sinopec, BP plc and Petroliam Nasional Berhad (Petronas) among others. There have been various developments taking place in the market and are further expected to take place in the near future which will promote the overall market growth. For instance, in October 2019, Mitsubishi Hitachi Power Systems (MHPS) announced that Suncor Energy placed an order for two M501JAC advanced class gas turbines and two heat recovery steam generators (HRSG) for a future cogeneration facility at the company's Oil Sands Base Plant facility near Fort McMurray, Alberta. The new technology will replace three aging coke-fired boilers and will provide reliable steam generation required for Suncor’s extraction and upgrading operations for bitumen recovery. The cogeneration units are expected to result in a significant reduction in atmospheric emissions, including greenhouse gas (GHG) emissions.

KEY MARKET SEGMENTS:

Global Thermal Enhanced Oil Recovery market - By Technology
  • Oil Sands
  • Heavy Oil
  • Steam Injection (Cyclic Steam Stimulation (CSS), Steam Flooding)
  • Steam-Assisted Gravity Drainage (SAGD)
  • Other
Global Thermal Enhanced Oil Recovery market - By Application
  • Onshore
  • Offshore
Global Thermal Enhanced Oil Recovery market -By Geography
  • North America
  • US
  • Canada
  • Asia-Pacific
  • Indonesia
  • Russia
  • China
  • Rest of World
  • Kuwait
  • Oman
  • China
  • Russia
  • Bahrain
  • Saudi Arabia
  • Remaining Countries
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • BP plc
  • Chevron Corporation
  • Equinor ASA
  • Imperial Oil
  • PDVSA
  • Sinopec
  • MORE
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1 Secondary Research
1.2.2 Data Analysis Framework
1.2.3 Market Size Estimation
1.2.4 Forecasting
1.2.5 Primary Research and Data Validation

2. Market Snapshot, 2019-2030 Million USD
2.1. Market Snapshot

3. Porter's Five Force Model Analysis

4. Market Dynamics
4.1. Growth Drivers
4.1.1 Driver 1
4.1.2 Driver 2
4.1.3 Driver 3
4.1.4 Driver 4
4.2. Challenges
4.2.1 Challenge 1
4.2.2 Challenge 2
4.3. Opportunities
4.3.1 Opportunity 1
4.3.2 Opportunity 2

5. Global Thermal Enhanced Oil Recovery (Eor) Market, by Type
5.1. Overview
5.2. Oil Sands
5.2.1 Oil Sands Market, by Region
5.2.1.1 North America Oil Sands Market, by Country
5.2.1.2 Asia-Pacific Oil Sands Market, by Country
5.2.1.3 Rest of World Oil Sands Market, by Country
5.3. Thermal Heavy Oil
5.3.1 Thermal Heavy Oil Market, by Region
5.3.1.1 North America Thermal Heavy Oil Market, by Country
5.3.1.2 Asia-Pacific Thermal Heavy Oil Market, by Country
5.3.1.3 Rest of World Thermal Heavy Oil Market, by Country

6. Global Thermal Enhanced Oil Recovery (Eor) Market, by Technology
6.1. Overview
6.2. Steam Injection
6.2.1 Steam Injection Market, by Region
6.2.1.1 North America Steam Injection Market, by Country
6.2.1.2 Asia-Pacific Steam Injection Market, by Country
6.2.1.3 Rest of World Steam Injection Market, by Country
6.3. Sagd
6.3.1 Sagd Market, by Region
6.3.1.1 North America Sagd Market, by Country
6.3.1.2 Asia-Pacific Sagd Market, by Country
6.3.1.3 Rest of World Sagd Market, by Country
6.4. Other
6.4.1 Other Market, by Region
6.4.1.1 North America Other Market, by Country
6.4.1.2 Asia-Pacific Other Market, by Country
6.4.1.3 Rest of World Other Market, by Country

7. Global Thermal Enhanced Oil Recovery (Eor) Market, by Region
7.1. Overview
7.2. North America
7.2.1 North America Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.2.2 North America Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.2.3 North America Thermal Enhanced Oil Recovery (Eor), Market by Country
7.2.3.1 U.S.
7.2.3.1.1 U.S. Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.2.3.1.2 U.S. Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.2.3.2 Canada
7.2.3.2.1 Canada Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.2.3.2.2 Canada Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.3. Asia-Pacific
7.3.1 Asia-Pacific Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.3.2 Asia-Pacific Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.3.3 Asia-Pacific Thermal Enhanced Oil Recovery (Eor), Market by Country
7.3.3.1 Indonesia
7.3.3.1.1 Indonesia Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.3.3.1.2 Indonesia Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.3.3.2 Russia
7.3.3.2.1 Russia Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.3.3.2.2 Russia Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.3.3.3 China
7.3.3.3.1 China Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.3.3.3.2 China Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.4. Rest of World
7.4.1 Rest of World Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.4.2 Rest of World Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.4.3 Rest of World Thermal Enhanced Oil Recovery (Eor), Market by Country
7.4.3.1 Venezuela
7.4.3.1.1 Venezuela Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.4.3.1.2 Venezuela Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.4.3.2 Kuwait
7.4.3.2.1 Kuwait Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.4.3.2.2 Kuwait Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.4.3.3 Oman
7.4.3.3.1 Oman Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.4.3.3.2 Oman Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.4.3.4 Bahrain
7.4.3.4.1 Bahrain Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.4.3.4.2 Bahrain Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.4.3.5 Saudi Arabia
7.4.3.5.1 Saudi Arabia Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.4.3.5.2 Saudi Arabia Thermal Enhanced Oil Recovery (Eor) Market, by Technology
7.4.3.6 Remaining Countries
7.4.3.6.1 Remaining Countries Thermal Enhanced Oil Recovery (Eor) Market, by Type
7.4.3.6.2 Remaining Countries Thermal Enhanced Oil Recovery (Eor) Market, by Technology

8. Company Profiles
8.1. Suncor
8.1.1 Company Overview
8.1.2 Company Snapshot
8.1.3 Operating Business Segments
8.1.4 Product Portfolio
8.1.5 Business Performance
8.1.6 Key Strategic Moves and Development
8.2. Conocophillips
8.2.1 Company Overview
8.2.2 Company Snapshot
8.2.3 Operating Business Segments
8.2.4 Product Portfolio
8.2.5 Business Performance
8.2.6 Key Strategic Moves and Development
8.3. Imperial Oil
8.3.1 Company Overview
8.3.2 Company Snapshot
8.3.3 Operating Business Segments
8.3.4 Product Portfolio
8.3.5 Business Performance
8.3.6 Key Strategic Moves and Development
8.4. Cenovus
8.4.1 Company Overview
8.4.2 Company Snapshot
8.4.3 Operating Business Segments
8.4.4 Product Portfolio
8.4.5 Business Performance
8.4.6 Key Strategic Moves and Development
8.5. China National Offshore Oil Corporation
8.5.1 Company Overview
8.5.2 Company Snapshot
8.5.3 Operating Business Segments
8.5.4 Product Portfolio
8.5.5 Business Performance
8.5.6 Key Strategic Moves and Development
8.6. Royal Dutch Shell plc.
8.6.1 Company Overview
8.6.2 Company Snapshot
8.6.3 Operating Business Segments
8.6.4 Product Portfolio
8.6.5 Business Performance
8.6.6 Key Strategic Moves and Development
8.7. Equinor Asa
8.7.1 Company Overview
8.7.2 Company Snapshot
8.7.3 Operating Business Segments
8.7.4 Product Portfolio
8.7.5 Business Performance
8.7.6 Key Strategic Moves and Development
8.8. Chevron Corporation
8.8.1 Company Overview
8.8.2 Company Snapshot
8.8.3 Operating Business Segments
8.8.4 Product Portfolio
8.8.5 Business Performance
8.8.6 Key Strategic Moves and Development
8.9. Pdvsa
8.9.1 Company Overview
8.9.2 Company Snapshot
8.9.3 Operating Business Segments
8.9.4 Product Portfolio
8.9.5 Business Performance
8.9.6 Key Strategic Moves and Development
8.10. Husky Energy
8.10.1 Company Overview
8.10.2 Company Snapshot
8.10.3 Operating Business Segments
8.10.4 Product Portfolio
8.10.5 Business Performance
8.10.6 Key Strategic Moves and Development
8.11. Sinopec
8.11.1 Company Overview
8.11.2 Company Snapshot
8.11.3 Operating Business Segments
8.11.4 Product Portfolio
8.11.5 Business Performance
8.11.6 Key Strategic Moves and Development
8.12. Occidental
8.12.1 Company Overview
8.12.2 Company Snapshot
8.12.3 Operating Business Segments
8.12.4 Product Portfolio
8.12.5 Business Performance
8.12.6 Key Strategic Moves and Development
8.13. Petroliam Nasional Berhad
8.13.1 Company Overview
8.13.2 Company Snapshot
8.13.3 Operating Business Segments
8.13.4 Product Portfolio
8.13.5 Business Performance
8.13.6 Key Strategic Moves and Development
8.14. Bp plc
8.14.1 Company Overview
8.14.2 Company Snapshot
8.14.3 Operating Business Segments
8.14.4 Product Portfolio
8.14.5 Business Performance
8.14.6 Key Strategic Moves and Development
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • BP plc
  • Chevron Corporation
  • Equinor ASA
  • Imperial Oil
  • PDVSA
  • Sinopec
  • MORE
Thermal Enhanced Oil Recovery: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 - 2030- Increase in the oil recovery from the oil fields, limited availability of natural gas and maturation of oilfields are expected to drive the thermal enhanced oil recovery market growth.

Thermal Enhanced Oil Recovery is a process that involves burning of natural gas to produce steam, which is then injected into the reservoir for heating heavy oils and thereby change its viscosity. This in turn simplifies the overall oil recovery process.

The rapidly growing population has led to the increased demand of oil and fuel for various purposes including automobile, machinery and others. Moreover, technological development and depleting levels of fossil fuels are expected to promote the growth of thermal enhanced oil recovery market. However, fluctuation in oil prices and environmental impacts are expected to hinder the growth of thermal enhanced oil recovery market.

The global thermal enhanced oil recovery market share is segmented on the basis of technology, application and geography. On the basis of technology, the market is segmented into Oil Sands, Heavy Oil, Steam Injection (Cyclic Steam Stimulation (CSS), Steam Flooding), Steam-Assisted Gravity Drainage (SAGD) and other. On the basis of application, the market is divided into onshore and offshore. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Suncor
  • Imperial Oil
  • ConocoPhillips
  • China National Offshore Oil Corporation (CNOOC)
  • Cenovus
  • Equinor ASA
  • Royal Dutch Shell plc.
  • PDVSA
  • Chevron Corporation
  • Occidental
  • Husky Energy
  • Sinopec
  • BP plc
  • Petroliam Nasional Berhad (Petronas)
Note: Product cover images may vary from those shown
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