MEOR (microbial enhanced oil recovery) is a biological technology that manipulates the role, structure, or both of microbial environments found in oil reservoirs. Microbial enhanced oil recovery ultimate goal is to maximize economic profits by improving oil recovery from reservoirs. Microbial enhanced oil recovery is a form of tertiary oil extraction that allows for partial oil recovery, extending the life of mature oil reservoirs. This is accomplished by altering the reservoir's interfacial properties, which aid in oil movement. The remaining oil's fluidity and displacement efficiency are affected by microbial activity in such a system.
MARKET DYNAMICS
The rapid growth of industrialization and urbanization, as well as the decline in production from existing oil fields and the increasing number of matured oil wells, has resulted in an increase in the use of microbial enhanced oil recovery techniques. According to studies, residual oil accounts for about 67 percent of total oil reserves. MEOR techniques are used to retrieve this residual oil, and oil companies have begun to use these methods for crude oil production. Since Microbial enhanced oil recovery market technology is extremely cost-effective, it has gained widespread acceptance around the world. This technology can recover up to 50% of the residual oil at an extremely low operating cost. Microbial enhanced oil recovery market, on the other hand, is ineffective when there are temperature differences between layers of an oil field. Temperatures below 82 degrees Celsius are ideal for microorganism growth. Since temperatures are much higher at depths, the MEOR technique is less reliable, which could act as a stifling factor for the microbial enhanced oil recovery market.
MARKET SCOPE
The "Global Microbial Enhanced Oil Recovery Market Analysis To 2028" is a specialized and in-depth study of energy and power industry with a special focus on the global market trend analysis. The microbial enhanced oil recovery market report aims to provide an overview of the microbial enhanced oil recovery market with detailed market segmentation by type, application, and geography. The global microbial enhanced oil recovery market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading microbial enhanced oil recovery market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global microbial enhanced oil recovery market is segmented on the basis of type, and application. Based on type, the microbial enhanced oil recovery market is segmented into: cyclic microbial recovery, microbial flooding recovery, and microbial selective plugging. On the basis of application, the microbial enhanced oil recovery market is segmented as onshore, and offshore.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global microbial enhanced oil recovery market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The microbial enhanced oil recovery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the microbial enhanced oil recovery market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South& Central America after evaluating political, economic, social and technological factors affecting the microbial enhanced oil recovery market in these regions.
MARKET PLAYERS
The reports cover key developments in the microbial enhanced oil recovery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from microbial enhanced oil recovery market are anticipated to lucrative growth opportunities in the future with the rising demand for microbial enhanced oil recovery in the global market. Below mentioned is the list of few companies engaged in the microbial enhanced oil recovery market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the microbial enhanced oil recovery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- bp p.l.c.
- ConocoPhillips Company.
- Chemiphase Ltd.,
- National Energy Services Reunited Corp.
- DuPont
- Micro-Bac International.
- Microbial Energy Inc.
- RAM Biochemicals, Inc.
- Royal Dutch Shell
- Titan Oil Recovery, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.