Enhanced Oil Recovery (EOR) Market Analysis, Size, Growth, Share & Outlook, Forecast to 2025 | Grand View Research Inc.
The global enhanced oil recovery (EOR) market size is expected to reach USD 88.54 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at an estimated CAGR of 6.8% from 2019 to 2025. Increasing number of aged wells coupled with the rising oil demand globally are the key factors for market growth. Asia Pacific is projected to expand at a CAGR of 8.1% over the forecast period owing to the increasing population coupled with rapid urbanization leading to the surge in demand for enhanced oil recovery. Adoption of competitive strategies by the international players operating in this region are anticipated to further fuel the growth. Prominent companies are investing in R&D activities and are setting up collaborative research projects for inventive product development. In collaboration with the Petroleum Institute Research Center (PIRC), UAE has established Pressure-VolumeTemperature (PVT) laboratory and is inclined towards conducting fluid analysis for enhanced oil recovery techniques to accomplish increased productivity in target wells. Browse Details of Report @ https://www.grandviewresearch.com/industry-
analysis/enhanced-oil-recovery-eor-market