The global reservoir analysis market comprises a host of key players includes:
Weatherford International, PLC (US), SGS SA (Switzerland), Schlumberger Limited (US), Halliburton Company (US), ALS Oil & Gas (US), CGG SA (France), Baker Hughes Incorporated (US), Geokinetics (US), Intertrek (Australia), Core Laboratories (Netherlands), Expro Group (UK), Paradigm (US), and others.
Reservoir Analysis Market Overview:
The global reservoir analysis market was analyzed by Market Research Future (MRFR) and it was projected that a gradual CAGR of 4.13% will be attained by the market over the forecast period of 2017 to 2024. The valuation of the reservoir analysis market was further stated to surpass its previous figure to reach a projected valuation of USD 9.70 billion by the end of the forecast period.
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Reservoir analysis is a process that aids in determining the flow-related properties like pressure, volume, porosity, temperature, and permeability of the reservoir fluid. It also helps in optimizing the recovery techniques and production. The global reservoir analysis market is anticipated to experience strong growth due to the increasing demand for energy. Growing Demand for Oil to Push the Global Reservoir Analysis Market in the Coming Years
The global reservoir analysis market is projected to grow at a gradual pace in the forthcoming years due to the increasing reliability over reservoir analysis due to advancements in technologies, growing oil demand, and new fields development. According to the International Energy Agency (IEA), the oil demand is slated to grow with every passing day. So much so that it is projected to grow by 6.9 million barrels a day by the year 2023. This has prompted governments across the globe to take notice and develop various attractive investment plans to increase the production of oil. This is expected to propel the demand and growth of the global reservoir analysis market.
Market Segmentation
The global reservoir analysis market has been segmented in terms of reservoir type, application, and service.
By reservoir type, the market divides into unconventional and conventional types. The unconventional reservoir type segment is expected to hold the highest share of the global market during the forecast period. The positioning and growth of the segment is primarily due to the development various new technologies like directional drilling and hydraulic fracturing. Furthermore, the presence of abundant unconventional resources also prompts an increase in exploration activities, one which subsequently boosts the demand for the global reservoir analysis market.
By application, the market breaks down into offshore and onshore segments. The onshore segment leads the global reservoir analysis market and is anticipated to exhibit the highest growth rate over the forecast period.
By service, the market comprises data acquisition & monitoring, geo modeling & reservoir simulation, and reservoir sampling. The data acquisition and monitoring segment is projected to dominate the global reservoir analysis market during the forecast period. This is because the service helps in improving the functionality as well as optimizes the oil production by offering real-time information.
Regional Analysis
The global reservoir analysis market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The North American region enjoyed the highest share percentage in the global reservoir analysis market back in 2017 and is expected to remain in the same spot during the ongoing forecast period. This is due to the increasing E&P or exploration and production activities from unconventional resources across major countries of this region like Canada, the US, and Mexico. The exploration of unconventional reservoirs offers an opportunity for the North American market in terms of growth. Additionally, increasing exploration of unconventional resources can also be attributed to the increasing offshore drilling activities in the US and the fast-paced technological advancements like hydraulic fracturing, well completion techniques, and long-reach horizontal well bore. Demand from both onshore and offshore fields in the Gulf of Mexico is also anticipated to boost the market in this region during the forecast period.
May 2019, Lundin Petroleum announced its plans of developing its Solveig oilfied, which was previously known as the Luno II, in Norway at a massive cost of USD 747 million.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
5 Market Dynamics
5.1 Introduction
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter’s Five Forces Analysis
5.5.1 Threat Of New Entrants
5.5.2 Bargaining Power Of Buyers
5.5.3 Bargaining Power Of Suppliers
5.5.4 Threat Of Substitutes
5.5.5 Intensity Of Rivalry
5.6 Value Chain/Supply Chain Analysis
6 Global Reservoir Analysis Market, By Reservoir Type
6.1 Introduction
6.2 Conventional
6.2.1 Market Estimates & Forecast, 2017–2024
6.2.2 Market Estimates & Forecast, By Region, 2017–2024
6.3 Unconventional
6.3.1 Market Estimates & Forecast, 2017–2024
6.3.2 Market Estimates & Forecast, By Region, 2017–2024
7 Global Reservoir Analysis Market, By Service
7.1 Introduction
7.2 Reservoir Simulation & Geomodelling Services
7.2.1 Market Estimates & Forecast, 2017–2024
7.2.2 Market Estimates & Forecast, By Region, 2017–2024
7.3 Data Acquisition & Monitoring Services
7.3.1 Market Estimates & Forecast, 2017–2024
7.3.2 Market Estimates & Forecast, By Region, 2017–2024
7.4 Reservoir Sampling Services
7.4.1 Market Estimates & Forecast, 2017–2024
7.4.2 Market Estimates & Forecast, By Region, 2017–2024
8 Global Reservoir Analysis Market, By Application
8.1 Introduction
8.2 Onshore
8.2.1 Market Estimates & Forecast, 2017–2024
8.2.2 Market Estimates & Forecast, By Region, 2017–2024
8.3 Offshore
8.3.1 Market Estimates & Forecast, 2017–2024
8.3.2 Market Estimates & Forecast, By Region, 2017–2024
9 Global Reservoir Analysis Market, By Region
Continued…
List Of Tables:
Table 1 Global Reservoir Analysis Market, By Region, 2017–2024 (USD Million)
Table 2 North America Reservoir Analysis Market, By Country, 2017–2024 (USD Million)
Table 3 Europe Reservoir Analysis Market, By Country, 2017–2024 (USD Million)
Table 4 Asia-Pacific Reservoir Analysis Market, By Country, 2017–2024 (USD Million)
Table 5 Middle East & Africa Reservoir Analysis Market, By Country, 2017–2024 (USD Million)
Table 6 South America Reservoir Analysis Market, By Country, 2017–2024 (USD Million)
Table 7 Global Reservoir Analysis Market, By Reservoir Type, 2017–2024 (USD Million)
Table 8 North America Reservoir Analysis Market, By Reservoir Type, 2017–2024 (USD Million)
Table 9 Europe Reservoir Analysis Market, By Reservoir Type, 2017–2024 (USD Million)
Table 10 Asia-Pacific Reservoir Analysis Market, By Reservoir Type, 2017–2024 (USD Million)
Continued…
List of Figures:
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Reservoir Analysis Market Share, By Reservoir Type, 2018 (%)
Figure 9 Global Reservoir Analysis Market, By Reservoir Type, 2019–2024 (USD Million)
Figure 10 Global Reservoir Analysis Market Share, By Service, 2018 (%)
Continued…
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