Global Microbial Enhanced Oil Recovery Market Growth (Status and Outlook) 2023-2029

Global Microbial Enhanced Oil Recovery Market Growth (Status and Outlook) 2023-2029

Microbial Enhanced Oil Recovery (MEOR) is a biological based technology consisting in manipulating function or structure, or both, of microbial environments existing in oil reservoirs. The ultimate aim of MEOR is to improve the recovery of oil entrapped in porous media while increasing economic profits. MEOR is a tertiary oil extraction technology allowing the partial recovery of the commonly residual two-thirds of oil, thus increasing the life of mature oil reservoirs.

LPI (LP Information)' newest research report, the “Microbial Enhanced Oil Recovery Industry Forecast” looks at past sales and reviews total world Microbial Enhanced Oil Recovery sales in 2022, providing a comprehensive analysis by region and market sector of projected Microbial Enhanced Oil Recovery sales for 2023 through 2029. With Microbial Enhanced Oil Recovery sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Microbial Enhanced Oil Recovery industry.

This Insight Report provides a comprehensive analysis of the global Microbial Enhanced Oil Recovery landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Microbial Enhanced Oil Recovery portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Microbial Enhanced Oil Recovery market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Microbial Enhanced Oil Recovery and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Microbial Enhanced Oil Recovery.

The global Microbial Enhanced Oil Recovery market size is projected to grow from US$ 803.1 million in 2022 to US$ 1802.4 million in 2029; it is expected to grow at a CAGR of 12.2% from 2023 to 2029.

Global Microbial Enhanced Oil Recovery key players include StatOil, Titan oil recovery, Royal Dutch Shell, BP, ConocoPhillips, etc. Global top five players hold a share about 70%.

North America is the largest market, with a share about 30%, followed by Europe and Asia-Pacific, having a total share about 40 percent.

In terms of product, Reservoir Method is the largest segment, with a share about 70%. And in terms of application, the largest application is Onshore Oilfield, followed by Offshore Oilfield.

This report presents a comprehensive overview, market shares, and growth opportunities of Microbial Enhanced Oil Recovery market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type

Ground Method

Reservoir Method

Segmentation by application

Onshore Oilfield

Offshore Oilfield

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

StatOil

Titan Oil Recovery

Royal Dutch Shell

BP

ConocoPhillips

DuPont

Genome Prairie

Chemiphase

CNPC

Gulf Energy

Please note: The report will take approximately 2 business days to prepare and deliver.