Enhanced Oil Recovery Market: Navigating Growth Amid Technological Innovation and Energy Demand
The Enhanced Oil Recovery (EOR) market is witnessing a robust expansion, driven by increasing global energy demands, the depletion of conventional oil reserves, and technological advancements in extraction techniques. EOR methods, also referred to as tertiary recovery techniques, help extract additional oil up to 30–60% more from mature or declining oil fields, making them indispensable in today’s energy landscape. With the oil and gas industry under pressure to maximize output while minimizing environmental impact, EOR offers a strategic solution to extend the lifespan of oil wells. Market Overview The Enhanced Oil Recovery Market Size is expected to register a CAGR of 6.4% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031. This growth is underpinned by a confluence of factors, including rising crude oil prices, demand for energy security, and technological innovations in EOR techniques. Key Drivers Depletin...