The global Thermal Enhanced Oil Recovery (EOR) market is projected to grow at a CAGR of 4.3% by 2034
The Thermal Enhanced Oil Recovery (EOR) Market Report 2024-2034: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Growing Power Demand to Open New Avenues
One common thermal EOR method is steam injection. Steam is injected into the reservoir to heat the oil, reduce its viscosity, and improve its flow characteristics. This increased mobility allows for enhanced oil recovery. The power industry may be involved indirectly in supplying the necessary energy for steam generation, especially if the steam is generated using conventional methods like natural gas or coal-fired power plants. The power industry plays a crucial role in providing the energy required for thermal EOR processes. This energy can be in the form of electricity or heat, depending on the specific requirements of the EOR method being employed.
High Capital and Operational Costs Associated with Thermal EOR
Enhanced Oil Recovery (EOR) methods, including Thermal EOR, can indeed be associated with high capital and operational costs. Thermal EOR is a set of techniques used to extract additional oil from reservoirs by injecting heat into the reservoir to reduce the oil's viscosity and improve its flow. Two common methods of thermal EOR are steam injection and in-situ combustion.
Implementing thermal EOR requires significant infrastructure development, including the installation of wellbores, steam generators, and surface facilities. These infrastructural investments contribute significantly to the initial capital costs. Steam injection involves the generation of high-pressure steam, typically produced using natural gas or other fuels. The costs associated with steam generation, including the purchase and maintenance of steam generators, can be substantial.
What Questions Should You Ask before Buying a Market Research Report?
How is the thermal enhanced oil recovery (EOR) market evolving?
What is driving and restraining the thermal enhanced oil recovery (EOR) market?
How will each thermal enhanced oil recovery (EOR) submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
How will the market shares for each thermal enhanced oil recovery (EOR) submarket develops from 2023 to 2034?
What will be the main driver for the overall market from 2024 to 2034?
Will leading thermal enhanced oil recovery (EOR) markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
Who are the leading players and what are their prospects over the forecast period?
What are the thermal enhanced oil recovery (EOR) projects for these leading companies?
How will the industry evolve during the period between 2024 and 2034? What are the implications of thermal enhanced oil recovery (EOR) projects taking place now and over the next 10 years?
Is there a greater need for product commercialisation to further scale the thermal enhanced oil recovery (EOR) market?
Where is the thermal enhanced oil recovery (EOR) market heading and how can you ensure you are at the forefront of the market?
You need to discover how this will impact the thermal enhanced oil recovery (EOR) market today, and over the next 10 years:
Our 275-page report provides 132 tables and 160 charts/graphs exclusively to you.
The report highlights key lucrative areas in the industry so you can target them - NOW.
It contains in-depth analysis of global, regional and national sales and growth.
It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the thermal enhanced oil recovery (EOR) market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2034 and other analyses reveal commercial prospects
In addition to revenue forecasting to 2034, our new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints, and challenges), porters five forces analysis, PEST analysis, and recent developments.
Segments Covered in the Report (Market Size in Revenue and Volume)
Application Outlook
Onshore
Offshore
Method Outlook
Steam Flooding
Cyclic Steam Stimulation
Hot Water
In-situ Combustion
Steam-Assisted Gravity Drainage
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 17 leading national markets:
North America
U.S.
Canada
Europe
Netherlands
Germany
Russia
Asia Pacific
China
India
Indonesia
Kazakhstan
Latin America
Brazil
Mexico
Colombia
Venezuela
Trinidad
Middle East & Africa
Egypt
Oman
Sudan
The report also includes profiles and for some of the leading companies in the Thermal Enhanced Oil Recovery (EOR) Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth
Aera Energy
Canadian Natural Resources
Chevron
China National Petroleum Corporation
Ecopetrol
Husky Energy
International Petroleum Corp.
Lukoil
ONGC
Pemex
Petrobras
Petroleos de Venezuela
Petrotrin
Sinopec
Wintershall Dea AG
Overall revenue for Thermal Enhanced Oil Recovery (EOR) Market, 2024 to 2034 in terms of value the market surpassed US$30 billion in 2023, our work calculates. We predict strong revenue growth through to 2033. Our work identifies which organisations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the Thermal Enhanced Oil Recovery (EOR) Market, 2024 to 2034 Market report help you?
In summary, our 270+ page report provides you with the following knowledge:
Revenue and volume forecasts to 2034 for Thermal Enhanced Oil Recovery (EOR) Market, 2024 to 2034 Market, with forecasts for application, method, and each forecast at a global, and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
Revenue and volume forecasts to 2034 for five regional and 17 key national markets - See forecasts for the Thermal Enhanced Oil Recovery (EOR) Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Also, market size estimation and forecast is provided for US, Canada, Mexico, Netherlands, Germany, Russia, China, India, Indonesia, and Oman among other prominent economies.
Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Thermal Enhanced Oil Recovery (EOR) Market.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Thermal Enhanced Oil Recovery (EOR) Market, 2024 to 2034, market-leading companies. You will find data, trends and predictions.
Table of Contents
1 Report Overview
- 1.1 Objectives of the Study
- 1.2 Introduction to Thermal Enhanced Oil Recovery (EOR) Market
- 1.3 What This Report Delivers
- 1.4 Why You Should Read This Report
- 1.5 Key Questions Answered by This Analytical Report
- 1.6 Who is This Report for?
- 1.7 Methodology
- 1.7.1 Market Definitions
- 1.7.2 Market Evaluation & Forecasting Methodology
- 1.7.3 Data Validation
- 1.7.3.1 Primary Research
- 1.7.3.2 Secondary Research
- 1.8 Frequently Asked Questions (FAQs)
- 1.9 Associated Visiongain Reports
- 1.10 About Visiongain
2 Executive Summary
3 Market Overview
- 3.1 Key Findings
- 3.2 Market Dynamics
- 3.2.1 Market Driving Factors
- 3.2.1.1 High Crude Oil Prices to Drive Thermal EOR Market
- 3.2.1.2 Growing Oil Exploration and Production Activities all around the World
- 3.2.2 Market Restraining Factors
- 3.2.2.1 High Capital and Operational Costs Associated with Thermal EOR
- 3.2.2.2 Challenges Associated with Thermal EOR Industry
- 3.2.3 Market Opportunities
- 3.2.3.1 Increasing Oil Demand in Developed as well as Developing Economies
- 3.2.3.2 Growing Power Demand Globally to Open New Opportunities
- 3.3 COVID-19 Impact Analysis
- 3.4 Porter's Five Forces Analysis
- 3.4.1 Bargaining Power of Suppliers (Moderate - High)
- 3.4.2 Bargaining Power of Buyers (Moderate)
- 3.4.3 Competitive Rivalry (High)
- 3.4.4 Threat from Substitutes (Low)
- 3.4.5 Threat of New Entrants (Low)
4 Thermal Enhanced Oil Recovery (EOR) Market Analysis by Application
- 4.1 Key Findings
- 4.2 Application Segment: Market Attractiveness Index
- 4.3 Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Application
- 4.4 Thermal Enhanced Oil Recovery (EOR) Production Estimation and Forecast by Application
- 4.5 Onshore
- 4.5.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.5.2 Market Share by Region, 2024 & 2034 (%)
- 4.5.3 Production by Region, 2024-2034 (Thousand Barrel/d)
- 4.6 Offshore
- 4.6.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.6.2 Market Share by Region, 2024 & 2034 (%)
- 4.6.3 Production by Region, 2024-2034 (Thousand Barrel/d)
5 Thermal Enhanced Oil Recovery (EOR) Market Analysis by Method
- 5.1 Key Findings
- 5.2 Method Segment: Market Attractiveness Index
- 5.3 Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Method
- 5.4 Thermal Enhanced Oil Recovery (EOR) Production Estimation and Forecast by Method
- 5.5 Steam Flooding
- 5.5.1 Advantages of Steam Flooding EOR
- 5.5.2 Challenges and Limitations of Steam Flooding
- 5.5.3 Market Size by Region, 2024-2034 (US$ Billion)
- 5.5.4 Market Share by Region, 2024 & 2034 (%)
- 5.5.5 Production by Region, 2024-2034 (Thousand Barrel/d)
- 5.6 Cyclic Steam Stimulation (CSS)
- 5.6.1 Benefits and Challenges of CSS Method
- 5.6.2 Market Size by Region, 2024-2034 (US$ Billion)
- 5.6.3 Market Share by Region, 2024 & 2034 (%)
- 5.6.4 Production by Region, 2024-2034 (Thousand Barrel/d)
- 5.7 Hot Water
- 5.7.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.7.2 Market Share by Region, 2024 & 2034 (%)
- 5.7.3 Production by Region, 2024-2034 (Thousand Barrel/d)
- 5.8 In-situ Combustion
- 5.8.1 Advantages and Challenges of In-situ Combustion
- 5.8.2 Market Size by Region, 2024-2034 (US$ Billion)
- 5.8.3 Market Share by Region, 2024 & 2034 (%)
- 5.8.4 Production by Region, 2024-2034 (Thousand Barrel/d)
- 5.9 Steam-Assisted Gravity Drainage (SAGD)
- 5.9.1 Working of Steam-Assisted Gravity Drainage (SAGD)
- 5.9.2 Advantages and Limitations for SAGD Methods
- 5.9.3 Significance of SAGD in Reducing Steam-Oil Ratios
- 5.9.4 Market Size by Region, 2024-2034 (US$ Billion)
- 5.9.5 Market Share by Region, 2024 & 2034 (%)
- 5.9.6 Production by Region, 2024-2034 (Thousand Barrel/d)
6 Thermal Enhanced Oil Recovery (EOR) Market Analysis by Region
- 6.1 Key Findings
- 6.2 Regional Market Size Estimation and Forecast
7 North America Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 7.1 Key Findings
- 7.2 North America Thermal Enhanced Oil Recovery (EOR) Market Attractiveness Index
- 7.3 North America Thermal Enhanced Oil Recovery (EOR) Market by Country, 2024, 2029, and 2034 (US$ Billion)
- 7.4 North America Thermal Enhanced Oil Recovery (EOR) Production by Country, 2024, 2029, and 2034 (Thousand Barrel/d)
- 7.5 North America Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Country
- 7.6 North America Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Application
- 7.7 North America Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Method
- 7.8 U.S. Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 7.8.1 U.S. Oil and Natural Gas Industry
- 7.9 Canada Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 7.9.1 Bitumen Production Hits a Record High in Canada
8 Europe Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 8.1 Key Findings
- 8.2 Europe Thermal Enhanced Oil Recovery (EOR) Market Attractiveness Index
- 8.3 Europe Thermal Enhanced Oil Recovery (EOR) Market by Country, 2024, 2029, and 2034 (US$ Billion)
- 8.4 Europe Thermal Enhanced Oil Recovery (EOR) Production by Country, 2024, 2029, and 2034 (Thousand Barrel/d)
- 8.5 Europe Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Country
- 8.6 Europe Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Application
- 8.7 Europe Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Method
- 8.8 Netherlands Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 8.9 Germany Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 8.10 Russia Thermal Enhanced Oil Recovery (EOR) Market Analysis
9 Asia Pacific Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 9.1 Key Findings
- 9.2 Asia Pacific Thermal Enhanced Oil Recovery (EOR) Market Attractiveness Index
- 9.3 Asia Pacific Thermal Enhanced Oil Recovery (EOR) Market by Country, 2024, 2029, and 2034 (US$ Billion)
- 9.4 Asia Pacific Thermal Enhanced Oil Recovery (EOR) Production by Country, 2024, 2029, and 2034 (Thousand Barrel/d)
- 9.5 Asia Pacific Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Country
- 9.6 Asia Pacific Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Application
- 9.7 Asia Pacific Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Method
- 9.8 China Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 9.9 India Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 9.10 Indonesia Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 9.10.1 Indonesian Regulator SKK Migas Approves Rantaubais EOR Project Phase 1
- 9.11 Kazakhstan Thermal Enhanced Oil Recovery (EOR) Market Analysis
10 Latin America Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 10.1 Key Findings
- 10.2 Latin America Thermal Enhanced Oil Recovery (EOR) Market Attractiveness Index
- 10.3 Latin America Thermal Enhanced Oil Recovery (EOR) Market by Country, 2024, 2029, and 2034 (US$ Billion)
- 10.4 Latin America Thermal Enhanced Oil Recovery (EOR) Production by Country, 2024, 2029, and 2034 (Thousand Barrel/d)
- 10.5 Latin America Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Country
- 10.6 Latin America Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Application
- 10.7 Latin America Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Method
- 10.8 Brazil Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 10.9 Mexico Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 10.10 Colombia Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 10.11 Venezuela Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 10.12 Trinidad Thermal Enhanced Oil Recovery (EOR) Market Analysis
11 Middle East & Africa Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 11.1 Key Findings
- 11.2 Middle East & Africa Thermal Enhanced Oil Recovery (EOR) Market Attractiveness Index
- 11.3 Middle East & Africa Thermal Enhanced Oil Recovery (EOR) Market by Country, 2024, 2029, and 2034 (US$ Billion)
- 11.4 Middle East & Africa Thermal Enhanced Oil Recovery (EOR) Production by Country, 2024, 2029, and 2034 (Thousand Barrel/d)
- 11.5 Middle East & Africa Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Country
- 11.6 Middle East & Africa Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Application
- 11.7 Middle East & Africa Thermal Enhanced Oil Recovery (EOR) Market Size Estimation and Forecast by Method
- 11.8 Egypt Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 11.9 Oman Thermal Enhanced Oil Recovery (EOR) Market Analysis
- 11.9.1 Oman to Get 2 GWth Solar Steam Plant for Enhanced Oil Recovery
- 11.10 Sudan Thermal Enhanced Oil Recovery (EOR) Market Analysis
12 Company Profiles
- 12.1 Company Market Share
- 12.2 China National Petroleum Corporation
- 12.2.1 Company Snapshot
- 12.2.2 Company Overview
- 12.2.3 Financial Analysis
- 12.2.3.1 Net Revenue, 2018-2022
- 12.2.3.2 Regional Market Shares, 2022
- 12.2.4 Product Benchmarking
- 12.2.5 Strategic Outlook
- 12.3 China Petroleum & Chemical Corporation
- 12.3.1 Company Snapshot
- 12.3.2 Company Overview
- 12.3.3 Financial Analysis
- 12.3.3.1 Net Revenue, 2018-2022
- 12.3.3.2 Segment Market Shares, 2022
- 12.3.4 Product Benchmarking
- 12.3.5 Strategic Outlook
- 12.4 Oil and Natural Gas Corporation
- 12.4.1 Company Snapshot
- 12.4.2 Company Overview
- 12.4.3 Financial Analysis
- 12.4.3.1 Net Revenue, 2018-2022
- 12.4.3.2 Segment Market Shares, 2022
- 12.4.4 Product Benchmarking
- 12.4.5 Strategic Outlook
- 12.5 Chevron Corporation
- 12.5.1 Company Snapshot
- 12.5.2 Company Overview
- 12.5.3 Financial Analysis
- 12.5.3.1 Net Revenue, 2018-2022
- 12.5.3.2 Regional Market Shares, 2022
- 12.5.3.3 Segment Market Shares, 2022
- 12.5.4 Product Benchmarking
- 12.5.5 Strategic Outlook
- 12.6 Petrobras
- 12.6.1 Company Snapshot
- 12.6.2 Company Overview
- 12.6.3 Financial Analysis
- 12.6.3.1 Net Revenue, 2018-2022
- 12.6.3.2 Segment Market Shares, 2022
- 12.6.4 Product Benchmarking
- 12.6.5 Strategic Outlook
- 12.7 Ecopetrol
- 12.7.1 Company Snapshot
- 12.7.2 Company Overview
- 12.7.3 Financial Analysis
- 12.7.3.1 Net Revenue, 2018-2022
- 12.7.3.2 Segment Market Shares, 2022
- 12.7.4 Product Benchmarking
- 12.7.5 Strategic Outlook
- 12.8 Pemex
- 12.8.1 Company Snapshot
- 12.8.2 Company Overview
- 12.8.3 Product Benchmarking
- 12.8.4 Strategic Outlook
- 12.9 Petroleum Company of Trinidad and Tobago Limited
- 12.9.1 Company Snapshot
- 12.9.2 Company Overview
- 12.9.3 Product Benchmarking
- 12.10 PDVSA - Petroleos de Venezuela
- 12.10.1 Company Snapshot
- 12.10.2 Company Overview
- 12.10.3 Product Benchmarking
- 12.10.4 Strategic Outlook
- 12.11 Lukoil
- 12.11.1 Company Snapshot
- 12.11.2 Company Overview
- 12.11.3 Product Benchmarking
- 12.11.4 Strategic Outlook
- 12.12 Wintershall Dea AG
- 12.12.1 Company Snapshot
- 12.12.2 Company Overview
- 12.12.3 Financial Analysis
- 12.12.3.1 Net Revenue, 2018-2022
- 12.12.3.2 Segment Market Shares, 2022
- 12.12.4 Product Benchmarking
- 12.12.5 Strategic Outlook
- 12.13 Canadian Natural Resources Limited
- 12.13.1 Company Snapshot
- 12.13.2 Company Overview
- 12.13.3 Financial Analysis
- 12.13.3.1 Net Revenue, 2018-2022
- 12.13.3.2 Segment Market Shares, 2022
- 12.13.4 Product Benchmarking
- 12.14 Aera Energy
- 12.14.1 Company Snapshot
- 12.14.2 Company Overview
- 12.14.3 Product Benchmarking
- 12.14.4 Strategic Outlook
- 12.15 Husky Energy
- 12.15.1 Company Snapshot
- 12.15.2 Company Overview
- 12.15.3 Product Benchmarking
- 12.15.4 Strategic Outlook
- 12.16 International Petroleum Corp
- 12.16.1 Company Snapshot
- 12.16.2 Company Overview
- 12.16.3 Financial Analysis
- 12.16.3.1 Net Revenue, 2018-2022
- 12.16.3.2 Regional Market Shares, 2022
- 12.16.4 Product Benchmarking
13 Conclusion and Recommendations
- 13.1 Concluding Remarks from Visiongain
- 13.2 Recommendations
