Microbial Enhanced Oil Recovery Market: By Sites, By Technology, and Geography
Microbial Enhanced Oil Recovery Market: By Sites, By Technology, and Geography
Microbial Enhanced Oil Recovery Market size was valued at US$ 1,344.3 million in 2023 and is poised to grow at a significant CAGR of 12.1% from 2024 - 2030. Microbial enhanced oil recovery (MEOR) is a tertiary oil recovery method consisting of manipulating the function or structure of microbial environments in oil reservoirs where microorganisms, their activity, or their by-products increase oil recovery through reduced interfacial tension, formations of stable oil-water emulsions, or bio-plugging. The ultimate aim of microbial-enhanced oil recovery (MEOR) is the improvement of the recovery of oil entrapped in porous media to increase profits. Increasing microbial-enhanced oil recovery market demand for full utilization of oil and gas reserves to maximize profit is the key market driver of the market. Moreover, increasing demands for energy fuels and crude oil are fuelling the global market growth. The enhanced oil recovery process has various advantages such as being cost-effective, increasing oil production significantly, optimizing production, enhancing efficiency, and decreasing the complexity of upstream processes. Also, the increasing number of mature wells, rising demand for cleaner sources for extracting oil, and increasing prices of crude oil will boost the microbial-enhanced oil recovery market growth rate. However, the fluctuating prices of crude oil depend upon world economics which can be a major restrain in the microbial-enhanced oil recovery market growth. The increasing adoption rate of renewable energy and growing awareness about environmental sustainability can also decrease the demand for crude oil which will directly hamper the market growth. Even though heavy oil reserves are present in various countries, its production is a key opportunity in the global market. Thus, increasing heavy oil production will boost the global market. Geographically, North America held the major microbial enhanced oil recovery market share and is expected to dominate the market in the forecasted years.
Study Period
2024-2030Base Year
2023CAGR
12.1%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The increasing number of mature wells is boosting the growth in the global microbial enhanced oil recovery market. Along with that, the rising demand for cleaner sources for extracting oil is also a key driver in the market. Increasing mature wells and the number of global oil companies leads to the increasing deployment of microbial-enhanced oil recovery techniques. Although, its deprived performance of technique against the peer chemical techniques is restraining the market. However, strict government regulations regarding the usage of chemical techniques boost the global market for enhanced microbial oil recovery techniques. Hence, global companies are currently focused on increasing recovery and extending the life of mature fields by using microbial-enhanced oil recovery technologies.
Based on regions, the market share is divided into North America, Asia-pacific, Europe, and the Middle East, and the African region. The microbial-enhanced oil recovery market in North America is likely to hold a significant revenue share in 2021, and, in the following years, it is predicted to increase rapidly. It is due to the growth in unconventional resources in the Gulf of Mexico, and the continuous development of shale reserves in the US. Asia Specific region is also growing at a faster rate due to the increasing number of new wells.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 1,344.3 million |
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Market CAGR |
12.1% |
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By sites |
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By Technology |
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By Region |
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The microbial enhanced oil recovery market size was valued at US$ 1,344.3 million in 2023
The leading global microbial enhanced oil recovery market players are Halliburton, Schlumberger, Baker Hughes Company, Titan Oil Recovery, XYTEL Corporation, Premier Energy, Chevron Phillips Chemical Company, Audubon Companies, Core Laboratories, Secure Energy Services, Clariant, Croda International, and Ultimate EOR Services.
The microbial enhanced oil recovery market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Microbial Enhanced Oil Recovery Market Introduction |
| 2.1. Global Microbial Enhanced Oil Recovery Market Taxonomy |
| 2.2. Global Microbial Enhanced Oil Recovery Market Definitions |
| 2.2.1. By Sites |
| 2.2.2. By Technology |
| 2.2.3. By Region |
| 3. Global Microbial Enhanced Oil Recovery Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Microbial Enhanced Oil Recovery Market Dynamic Factors - Impact Analysis |
| 3.6. Global Microbial Enhanced Oil Recovery Market Competition Landscape |
| 3.7. Epidemiology |
| 4. Global Microbial Enhanced Oil Recovery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Microbial Enhanced Oil Recovery Market, By Sites, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Onshore |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Offshore |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Microbial Enhanced Oil Recovery Market, By Technology, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1. Thermal EOR |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Chemical EOR |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Gas EOR |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Microbial Enhanced Oil Recovery Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Microbial Enhanced Oil Recovery Market - Opportunity Analysis Index, By Sites, By Technology, and Region, 2024 - 2030 |
| 8. North America Microbial Enhanced Oil Recovery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. Sites Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Onshore |
| 8.1.2. Offshore |
| 8.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Thermal EOR |
| 8.2.2. Chemical EOR |
| 8.2.3. Gas EOR |
| 8.2.4. Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Microbial Enhanced Oil Recovery Market - Opportunity Analysis Index, By Sites, By Technology, and Country, 2024 - 2030 |
| 8.5. North America Microbial Enhanced Oil Recovery Market Dynamics Trends |
| 9. Europe Microbial Enhanced Oil Recovery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Sites Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Onshore |
| 9.1.2. Offshore |
| 9.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Thermal EOR |
| 9.2.2. Chemical EOR |
| 9.2.3. Gas EOR |
| 9.2.4. Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Rest of Europe |
| 9.4. Europe Microbial Enhanced Oil Recovery Market - Opportunity Analysis Index, By Sites, By Technology, and Country, 2024 - 2030 |
| 9.5. Europe Microbial Enhanced Oil Recovery Market Dynamics Trends |
| 10. Asia-Pacific Microbial Enhanced Oil Recovery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Sites Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Onshore |
| 10.1.2. Offshore |
| 10.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Thermal EOR |
| 10.2.2. Chemical EOR |
| 10.2.3. Gas EOR |
| 10.2.4. Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. China |
| 10.3.2. India |
| 10.3.3. Japan |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Microbial Enhanced Oil Recovery Market - Opportunity Analysis Index, By Sites, By Technology, and Country, 2024 - 2030 |
| 10.5. Asia-Pacific Microbial Enhanced Oil Recovery Market Dynamics Trends |
| 11. Latin America Microbial Enhanced Oil Recovery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Sites Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Onshore |
| 11.1.2. Offshore |
| 11.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Thermal EOR |
| 11.2.2. Chemical EOR |
| 11.2.3. Gas EOR |
| 11.2.4. Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Rest of Latin America |
| 11.4. Latin America Microbial Enhanced Oil Recovery Market - Opportunity Analysis Index, By Sites, By Technology, and Country, 2024 - 2030 |
| 11.5. Latin America Microbial Enhanced Oil Recovery Market Dynamics Trends |
| 12. Middle East and Africa Microbial Enhanced Oil Recovery Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Sites Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Onshore |
| 12.1.2. Offshore |
| 12.2. Technology Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Thermal EOR |
| 12.2.2. Chemical EOR |
| 12.2.3. Gas EOR |
| 12.2.4. Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. South Africa |
| 12.3.3. Rest of MEA |
| 12.4. MEA Microbial Enhanced Oil Recovery Market - Opportunity Analysis Index, By Sites, By Technology, and Country, 2024 - 2030 |
| 12.5. MEA Microbial Enhanced Oil Recovery Market Dynamics Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Key Sitess, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Halliburton |
| 13.2.2. Schlumberger |
| 13.2.3. Baker Hughes Company |
| 13.2.4. Titan Oil Recovery |
| 13.2.5. XYTEL Corporation |
| 13.2.6. Premier Energy |
| 13.2.7. Chevron Phillips Chemical Company |
| 13.2.8. Audubon Companies |
| 13.2.9. Core Laboratories |
| 13.2.10. Secure Energy Services |
| 13.2.11. Clariant |
| 13.2.12. Croda International |
| 13.2.13. Ultimate EOR Services |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
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