- Onshore
- Offshore
Microbial Enhanced Oil Recovery Market size is expected to be valued at USD 1,343.3 million in 2022 and is poised to grow at a significant CAGR of 11.9% over 2022–2028. 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, so 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. Recent Market Developments: In July 2022, Suncor revealed a detailed plan to increase oil production while reducing emissions.
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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.
The microbial enhanced oil recovery market size is expected to be valued at USD 1,343.3 million in 2022.
The microbial enhanced oil recovery market is poised to grow at a significant CAGR of 11.9% from 2022 to 2028.
Historic years considered for the market study are 2017 through 2021, 2021 is considered as the base year for market estimation and Seven years forecast presented from 2022 – 2028.
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.
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, 2017-2021 and Forecast, 2022-2028 |
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
5.1. Onshore |
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
6.1. Thermal EOR |
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
7.1. North America |
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2022-2028 |
8. North America Microbial Enhanced Oil Recovery Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
8.1. Sites Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
8.1.1. Onshore |
8.1.2. Offshore |
8.2. Technology Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028 |
8.5. North America Microbial Enhanced Oil Recovery Market Dynamics – Trends |
9. Europe Microbial Enhanced Oil Recovery Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
9.1. Sites Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
9.1.1. Onshore |
9.1.2. Offshore |
9.2. Technology Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028 |
9.5. Europe Microbial Enhanced Oil Recovery Market Dynamics – Trends |
10. Asia-Pacific Microbial Enhanced Oil Recovery Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
10.1. Sites Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Onshore |
10.1.2. Offshore |
10.2. Technology Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028 |
10.5. Asia-Pacific Microbial Enhanced Oil Recovery Market Dynamics – Trends |
11. Latin America Microbial Enhanced Oil Recovery Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
11.1. Sites Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Onshore |
11.1.2. Offshore |
11.2. Technology Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028 |
11.5. Latin America Microbial Enhanced Oil Recovery Market Dynamics – Trends |
12. Middle East and Africa Microbial Enhanced Oil Recovery Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn) |
12.1. Sites Analysis 2017-2021 and Forecast 2022-2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.1.1. Onshore |
12.1.2. Offshore |
12.2. Technology Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028 |
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 |