Overview and Scope
Reservoir analysis refers to the evaluation and assessment of underground reservoirs that contain oil, gas, or water. It involves the study of various properties and characteristics of the reservoir, such as its geological formation, fluid flow behavior, reservoir volume, and potential for oil and gas extraction.
Sizing and Forecast
The reservoir analysis market size has grown strongly in recent years. It will grow from $9.07 billion in 2023 to $9.72 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing focus on cost reduction, growing demand for reservoir simulation, advancements in data acquisition and monitoring, growing demand for unconventional resources, macroeconomic factors..
The reservoir analysis market size is expected to see strong growth in the next few years. It will grow to $12.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing demand for oil and gas, growing mining industry, rising demand for power generation, environmental concerns, market segmentation.. Major trends in the forecast period include market growth, technological advancements, information technology industry dominance, research and development, industry chain structures..
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Segmentation & Regional Insights
The reservoir analysis market covered in this report is segmented –
1) By Reservoir Type: Conventional, Unconventional
2) By Service: Geo Modeling And Reservoir Simulation, Data Acquisition And Monitoring, Reservoir Sampling
3) By Application: Onshore, Offshore
North America was the largest region in the reservoir analysis market in 2023. LAMEA is expected to be the fastest-growing region in the forecast period. The regions covered in the reservoir analysis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for hydrogen recovery is expected to propel the growth of the reservoir analysis market going forward. Hydrogen recovery involves the capture, purification, and utilization of hydrogen gas produced as a byproduct or waste in industrial processes. Reservoir analysis techniques are used to evaluate reservoir characteristics for efficient capture, utilization, and storage of hydrogen. For instance, in September 2022, according to the Energy Information Administration, a US-based government agency, hydrogen demand increased by 5% from 2020 to reach 94 Mt in 2021, and the global demand is expected to reach 179.9 Mt by 2030. Therefore, the growing demand for hydrogen recovery is driving the growth of the reservoir analysis market.
Key Industry Players
Major companies operating in the reservoir analysis market report are Shell Global Solutions, Schlumberger Limited, Baker Hughes Company, Halliburton Company, Emerson Electric Co, NuTech Energy Alliance Ltd., Sinopec Oilfield Service Corporation, Koninklijke DSM N.V, SGS SA, Wood Group, Weatherford International plc, Geokinetics Inc., ALS Limited, Expro Group, CGG SA, Trican Well Service Ltd., Core Laboratories NV, Pason Systems Inc., Tracerco Limited, TDE Group, Ikon Science Ltd., Petrolink Services Inc., Ziebel AS, Chandler Engineering, Rockfield Global Technologies, TerraTek Inc, Landmark Solutions, YPFB Chaco S.A.
The reservoir analysis market report table of contents includes:
1. Executive Summary
2. Reservoir Analysis Market Characteristics
3. Reservoir Analysis Market Trends And Strategies
4. Reservoir Analysis Market – Macro Economic Scenario
5. Global Reservoir Analysis Market Size and Growth
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32. Global Reservoir Analysis Market Competitive Benchmarking
33. Global Reservoir Analysis Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Reservoir Analysis Market
35. Reservoir Analysis Market Future Outlook and Potential Analysis
36. Appendix
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