Global Microbial Enhanced Oil Recovery (MEOR) Market is growing at 17.37% CAGR to 2016-2021 according to Research Report
Executive Summary
Aging Oil and Gas Infrastructure, Rise in offshore drilling activities, Need for alternative technologies, Economic & Environmental Factors, Lower Crude Oil Prices, CO2 Reducing Emission Policies & Rise in Demand for Fuel, are the basic reasons behind increased demands for the Microbial Enhanced Oil Recovery Market.
China has high exporting capacity for Natural Gas as well as is world's largest net importer of petroleum and other liquids, in part because of China's rising oil consumption. This has made Asia Pacific market for MEOR to grow during 2016-2021. Similarly MEOR Market for Middle East & Africa comprises of Oman, Kuwait, Saudi Arabia, Angola, as their most demanding nations for oil and gas owing to their high consumption demand for energy due to high industrial and manufacturing sector. North America has been able to maintain its high market for MEOR owing to its numerous MEOR field trials & projects especially in United States and Canada.
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The report speaks about the offshore and onshore allocation of the market share wherein rise in the offshore explorations in MEOR at Norway, Malaysia and United States would drive the market in the offshore oil and gas industry. Moreover, the percentage share of the onshore market is anticipated to decline but would still be higher than offshore market until the year 2021. But stringent government regulations regarding oil & gas leaks, lower credibility and obstacles in production via MEOR is one of the biggest restraints faced by this industry. Aging Oil and Gas Infrastructure, Need for alternative technologies, Lower Crude Oil Prices & Rise in Demand for Fuel has surged the need for more Exploration & Production (E&P) activities that is further driving the market for Microbial Enhanced Oil Recovery. With the high demand for energy in the nations across the globe, there has been an increase in exploration activities leading to growth in the market for Microbial Enhanced Oil Recovery Market.
According to recently published Azoth Analytics report Microbial Enhanced Oil Recovery Market: Opportunities and Forecasts (2016-2021), Microbial Enhanced Oil Recovery Market is forecasted to grow at a CAGR of 17.37% during 2016 2021F, on account of increased activities in exploration and production activities in the oil and gas sector along with rise in number MEOR projects and field trails in various nations across the globe.
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Table of Content
1. Research Methodology
2. Executive Summary
3. Strategic Recommendation
3.1 Increase in off-shore drilling activities
3.2 Increased usage of microbes for oil recovery
3.3 Asia-Pacific region to rise at a high rate
4. Global Microbial Enhanced Oil Recovery: An Overview
4.1 Product Overview - Enhanced Oil Recovery & Microbial Enhanced Oil Recovery
4.2 Field Research Trials & Project Findings
4.3 Market Segmentation
4.2.1 By Metabolic Products
4.2.2 By Applications
4.2.3 By Location of Application
5. Global Oil and Gas Industry Overview
5.1. Global Oil and Gas Industry Total Market Size & Forecast
5.1.1 Global Oil Production Market, By Value, (Historic 2011-2015)
5.1.2 Global Oil Production Market, By Value (Forecast 2016E-2021F)
5.1.3 Global Natural Gas Production Market, By Value (Historic 2011-2015)
5.1.4 Global Natural Gas Production Market, By Value (Forecast 2016E-2021F)
5.1.5 Oil demand and production (2011-2020)
5.1.6 Worldwide Average Rig Count June 2016
5.1.7 Average rig counts on Oil v/s Natural Gas June 2016
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