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North America Enhanced Oil Recovery (EOR) Market

North America Enhanced Oil Recovery (EOR) Market By Application (Onshore, Offshore); By Technology (Thermal, Gas Injection, Chemical, Others) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
North America Enhanced Oil Recovery (EOR) MarketSize 2024	USD 17,991.29 million
North America Enhanced Oil Recovery (EOR) Market, CGR	7.17%
North America Enhanced Oil Recovery (EOR) Market Size 2032	USD 31,301.06 million

Market Overview

The North America Enhanced Oil Recovery (EOR) Market is projected to grow from USD 17,991.29 million in 2024 to an estimated USD 31,301.06 million by 2032, with a compound annual growth rate (CAGR) of 7.17% from 2025 to 2032. This market growth is primarily driven by the increasing demand for oil and natural gas production, along with the growing need to enhance recovery from mature oil fields.

Key drivers of the market include the technological advancements in EOR techniques such as CO2 injection, thermal recovery, and chemical flooding, which are improving efficiency and production yields. Furthermore, the growing adoption of EOR technologies in response to the depletion of conventional oil reserves is stimulating market growth. Rising environmental concerns also push the industry towards more sustainable and eco-friendly EOR solutions.

Geographically, North America remains a dominant region, particularly in the United States and Canada, which are known for their advanced oil extraction technologies. The U.S. accounts for a significant share of the market, driven by substantial investments in the shale oil industry and government policies supporting oil recovery efforts. Key players in the North American EOR market include Schlumberger, Halliburton, Baker Hughes, and Occidental Petroleum, among others, all of which are advancing EOR methods and expanding their market presence.

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Market Insights

The North America EOR market is projected to grow from USD 17,991.29 million in 2024 to USD 31,301.06 million by 2032, with a CAGR of 7.17% from 2025 to 2032.
Increasing demand for oil and natural gas production, technological advancements in EOR methods, and a focus on sustainability drive the market’s growth.
CO2 injection, thermal recovery, and chemical flooding are improving oil extraction efficiency, especially in mature reservoirs, driving adoption across the region.
High operational costs and the complex infrastructure required for advanced EOR techniques present challenges for smaller oil companies and slow the widespread adoption.
The shift towards eco-friendly EOR methods is being driven by stricter environmental regulations, requiring oil companies to adopt sustainable technologies like carbon capture.
The U.S. dominates the North America EOR market, particularly due to the large-scale shale oil industry, while Canada is a key player in thermal EOR for oil sands.
The market is expected to continue growing with increased adoption of CO2-based EOR and enhanced recovery technologies tailored for unconventional oil reserves.

Report Scope

This report segments the North America Enhanced Oil Recovery (EOR) market as follows:

Market Drivers

Technological Advancements in EOR Techniques

One of the primary drivers of the North America Enhanced Oil Recovery (EOR) market is the continuous advancement in EOR technologies. For instance, CO2 injection has been widely adopted in the Permian Basin, where it has improved oil recovery rates by up to 20%. Additionally, steam-assisted gravity drainage (SAGD) has been successfully implemented in Canadian oil sands, enabling the extraction of heavy oil that was previously considered uneconomical. These technologies are crucial in extending the life of aging oil reservoirs, enabling operators to extract more oil from fields that would otherwise be economically unfeasible. For example, SAGD operations in Alberta have shown a 30% increase in recovery efficiency compared to traditional methods. As operators continue to adopt and invest in these technologies, the EOR market in North America is poised for significant growth.

Rising Demand for Oil and Gas

The increasing global demand for oil and natural gas, driven by factors such as economic growth, industrialization, and rising energy consumption, is another significant driver for the EOR market in North America. For instance, the U.S. Energy Information Administration (EIA) reported that U.S. crude oil production reached 12.8 million barrels per day in 2023, highlighting the need to sustain high production levels to meet energy demands. EOR methods, such as CO2 injection, allow producers to tap into unconventional oil reserves, thereby augmenting their production capacity. Furthermore, advancements in unconventional oil production, such as hydraulic fracturing combined with EOR techniques, have enabled the extraction of oil from shale reserves like the Bakken Formation. These methods have increased recovery rates by up to 15%, ensuring the continued supply of oil. The rising global energy demands, coupled with the increasing complexity of oil production, directly drive the need for EOR solutions.

Government Support and Regulatory Framework

Government policies and regulations are playing a pivotal role in driving the North American EOR market. In particular, the U.S. and Canada have implemented favorable regulatory frameworks that encourage the use of enhanced oil recovery techniques. For instance, tax incentives, subsidies, and funding programs aimed at reducing the environmental impact of oil production and improving energy efficiency are motivating companies to adopt EOR methods. The U.S. government’s focus on reducing its reliance on foreign oil and securing energy independence has led to increased support for technologies that improve domestic oil recovery. In Canada, environmental policies are encouraging the use of more sustainable and low-emission EOR methods, such as CO2 injection and thermal recovery, which contribute to reducing the carbon footprint of oil extraction. Furthermore, the regulatory environment in North America has fostered an ecosystem that supports research and development in EOR technologies, driving continuous innovation and ensuring that the sector remains competitive. As governments continue to support the development and adoption of EOR technologies, the market is likely to expand in the coming years.

Maturity of Oil Fields in North America

The North American oil industry is characterized by the maturity of its oil fields, especially in regions such as Texas, Alberta, and the Gulf of Mexico. Many of these fields have been in production for decades and are in the later stages of their lifecycle. As conventional methods of oil extraction become less effective, enhanced oil recovery techniques are essential to maintain and increase production from these aging fields. The oil industry in North America is experiencing a shift toward maximizing recovery from these mature fields, which is creating significant demand for EOR services. For instance, the shale oil boom in the U.S. has made it imperative for oil companies to employ advanced extraction methods to increase output from declining reservoirs. EOR technologies enable operators to extract more oil from these mature fields by improving the efficiency of the extraction process and extending the productive life of oil reservoirs. The need to address the decline in production from these fields and the desire to maximize output are key drivers behind the growing adoption of EOR methods across North America.

Market Trends

Increased Adoption of CO2 Injection Techniques

One of the most prominent trends in the North America Enhanced Oil Recovery (EOR) market is the increasing adoption of CO2 injection techniques. CO2 injection involves injecting carbon dioxide into oil reservoirs to reduce the viscosity of crude oil, making it easier to extract. For instance, the United States Geological Survey (USGS) developed a method to estimate oil and gas production potential using CO2 injection, highlighting its effectiveness in mature reservoirs. CO2 injection also offers environmental benefits, as it allows for the storage of carbon dioxide, contributing to efforts to reduce greenhouse gas emissions. The trend is further supported by regulatory incentives, such as the U.S. government’s carbon capture improvement act, which promotes collaboration between industries for carbon sequestration. As CO2 injection continues to gain momentum, it is expected to remain a leading method in the EOR market, especially with the growing focus on carbon capture and storage (CCS) technologies.

Integration of Digital Technologies and Automation

The integration of digital technologies and automation is another key trend reshaping the North American EOR market. Oil companies are increasingly leveraging digital tools such as real-time data analytics, machine learning, and artificial intelligence (AI) to optimize EOR processes. For example, over 90% of organizations worldwide have adopted cloud technologies, showcasing the global trend towards digital transformation. These technologies enable companies to monitor reservoir conditions more accurately, predict production outcomes, and improve the efficiency of recovery operations. Additionally, automation is being used to streamline operations, reduce human error, and minimize downtime, ultimately enhancing the profitability of EOR projects. The use of advanced technologies is particularly valuable in complex and remote oil fields, where human intervention is limited. As these digital tools become more sophisticated, their adoption in EOR is expected to increase, leading to better decision-making and more efficient oil recovery.

Emphasis on Sustainable EOR Methods

There is a growing trend towards adopting more sustainable and environmentally friendly Enhanced Oil Recovery (EOR) methods in North America. As environmental regulations become stricter, oil companies are focusing on reducing their carbon footprint and minimizing environmental impact during the recovery process. Techniques such as CO2 injection, which also serve as a carbon sequestration solution, are gaining traction due to their ability to mitigate the environmental risks associated with traditional oil extraction methods. Furthermore, there is an increasing focus on improving water and energy efficiency in EOR processes. The use of low-carbon technologies, including renewable energy sources to power EOR operations, is expected to become more widespread. This trend reflects the industry’s commitment to reducing its environmental impact and contributing to the global effort to combat climate change. Companies are also exploring alternatives like bio-based chemicals and surfactants to reduce the reliance on traditional, environmentally harmful chemicals.

Expansion of EOR in Unconventional Oil Plays

The expansion of Enhanced Oil Recovery (EOR) techniques into unconventional oil plays, such as shale oil and oil sands, is another significant trend in the North American market. As conventional oil fields mature and deplete, companies are increasingly looking toward unconventional resources to sustain production levels. EOR methods like thermal recovery, solvent injection, and CO2 flooding are being tailored to suit the unique characteristics of shale and oil sands reservoirs. These techniques are helping operators unlock additional reserves from formations that are otherwise difficult to exploit. The increasing demand for oil, coupled with the rapid growth of shale oil production in the U.S., has driven significant investments in EOR technologies for these unconventional plays. As operators continue to refine their EOR strategies for unconventional resources, the market for EOR in shale and oil sands is expected to grow, contributing to long-term oil production sustainability in North America.

Market Challenges

High Operational Costs and Capital Investment

One of the major challenges in the North America Enhanced Oil Recovery (EOR) market is the high operational costs and capital investment required for implementing advanced recovery techniques. EOR methods, such as CO2 injection, thermal recovery, and chemical flooding, demand substantial upfront capital for infrastructure development, including the construction of specialized equipment, injection facilities, and monitoring systems. For instance, reports indicate that the cost of CO2 injection technology can range from $20 to $30 per barrel of oil recovered, depending on the field’s characteristics. Moreover, ongoing operational costs, including the purchase of CO2, chemicals, and energy inputs for thermal processes, can be significant. This can make EOR projects financially challenging, especially for smaller oil companies with limited budgets. While the long-term benefits of EOR—such as increased recovery rates and extended reservoir life—are clear, the initial financial outlay and ongoing expenses create barriers to widespread adoption. Furthermore, the unpredictable price fluctuations of oil, coupled with the fluctuating cost of carbon capture technologies, add to the financial complexity of these projects. In some cases, the profitability of EOR projects may be compromised if oil prices are low, making it difficult for operators to justify the substantial investments needed for EOR implementation.

Environmental and Regulatory Constraints

Another significant challenge facing the North American EOR market is the increasing scrutiny of environmental regulations and sustainability concerns. While certain EOR methods, such as CO2 injection, offer environmental benefits by reducing carbon emissions through carbon sequestration, other techniques, particularly those that rely on the use of chemicals or water, raise environmental concerns. The disposal of wastewater, for example, and the potential for groundwater contamination are key issues that have led to stricter regulations and public scrutiny. Additionally, regulatory frameworks surrounding CO2 storage and greenhouse gas emissions continue to evolve, with governments implementing tighter emission reduction targets. Compliance with these evolving regulations often requires oil companies to invest in new technologies or modify their existing practices, leading to higher costs and operational delays. Furthermore, the public’s growing demand for sustainable energy practices puts pressure on the oil industry to adopt greener, more eco-friendly methods. As environmental and regulatory standards continue to tighten, companies in the EOR market will need to navigate these challenges carefully to avoid potential legal and reputational risks.

Market Opportunities

Growth in CO2 Injection and Carbon Sequestration

One of the key opportunities in the North America Enhanced Oil Recovery (EOR) market lies in the growing demand for CO2 injection and carbon sequestration solutions. As environmental concerns and regulatory pressures continue to rise, CO2 injection is gaining traction not only as an effective EOR method but also as a means of reducing greenhouse gas emissions. This technique allows for the injection of CO2 into oil reservoirs, enhancing recovery while also storing the CO2 underground, contributing to climate change mitigation efforts. Governments in North America, particularly in the U.S., are offering incentives and support for carbon capture and storage (CCS) projects, positioning CO2 injection as a promising opportunity for oil companies. Additionally, as industries strive to meet carbon reduction targets, companies that invest in CO2-based EOR methods are well-positioned to capitalize on the increasing demand for sustainable energy solutions, benefiting from both environmental and economic advantages. This dual benefit of enhancing oil recovery while reducing carbon emissions presents significant growth potential in the North American market.

Expansion into Unconventional Oil Reserves

The increasing focus on unconventional oil resources, such as shale oil and oil sands, presents another lucrative opportunity for the North American EOR market. As conventional oil fields mature and production rates decline, operators are turning to unconventional plays that require advanced recovery methods to unlock additional reserves. EOR techniques, particularly thermal recovery and solvent injection, are being adapted for these unconventional resources, improving production rates and extending the life of these fields. The rapid growth of shale oil production, especially in the U.S., has made it a prime target for EOR technologies. As technology continues to evolve, operators are gaining better control over recovery processes, further driving the adoption of EOR in unconventional plays. This shift offers a significant opportunity for companies to optimize production in these reservoirs and achieve long-term oil recovery sustainability.

Market Segmentation Analysis

By Application

The North America Enhanced Oil Recovery (EOR) market is broadly segmented into onshore and offshore applications. Onshore oil fields continue to dominate the EOR market, accounting for the majority of the region’s market share. Onshore oil reservoirs are typically more accessible and less expensive to develop than offshore fields, which contributes to their dominance in the EOR space. The vast expanse of mature oil fields across North America, particularly in regions such as Texas, Alberta, and the Gulf of Mexico, has led to the widespread adoption of EOR technologies for enhanced recovery. The onshore market benefits from advanced infrastructure and a greater concentration of oil companies, which fosters innovation and drives the adoption of EOR techniques. On the other hand, offshore oil production also represents a significant portion of the market, driven by the demand for recovery from deepwater and ultra-deepwater oil fields. Offshore EOR applications often require more sophisticated technology and higher capital investments due to the complexity and depth of the reservoirs. Despite these challenges, offshore EOR continues to grow as oil companies invest in new technologies to increase recovery rates from offshore fields in the Gulf of Mexico and other offshore regions in North America.

By Technology

The EOR market in North America is categorized by several key technologies, including thermal, gas injection, chemical, and other methods. Among these, thermal recovery is the most widely used technology, particularly in heavy oil reservoirs. Thermal methods, such as steam-assisted gravity drainage (SAGD) and cyclic steam stimulation (CSS), are used to reduce the viscosity of heavy crude oil, making it easier to extract. This technique is especially prevalent in Canada’s oil sands and certain U.S. oil fields. Gas injection, primarily CO2 injection, is another dominant method in the region. This technology involves injecting CO2 into oil reservoirs to enhance recovery by reducing oil viscosity and increasing the reservoir pressure. CO2 injection is particularly favored for its environmental benefits, as it also facilitates carbon capture and storage (CCS). Chemical EOR, which includes the use of surfactants, polymers, and alkalis to reduce interfacial tension and improve fluid flow, is gaining traction, especially in reservoirs with lower permeability. Though chemical EOR is less commonly used than thermal and gas injection techniques, its potential for improving recovery in a range of reservoir types has led to its growing adoption. Other methods, such as microbial EOR and miscible displacement, are still in experimental phases but present significant potential for future market growth as technology improves.

Segments

Based on Application

Onshore
Offshore

Based on Technology

Thermal
Gas Injection
Chemical
Others

Based on Region

S.
Canada
Mexico

Regional Analysis

U.S. (75%)

The U.S. holds the largest market share, accounting for approximately 75% of the North American EOR market. This is largely due to its vast network of mature onshore oil fields, including those in Texas, New Mexico, and Louisiana, as well as significant offshore production in the Gulf of Mexico. The extensive adoption of EOR technologies such as CO2 injection and thermal recovery methods has led to sustained production from these fields. The U.S. is also a leader in the implementation of cutting-edge technologies, including advanced CO2 injection techniques for carbon capture and storage (CCS), which further bolster its EOR market share.

Canada (20%)

In Canada, the EOR market is dominated by the oil sands industry, with the country contributing approximately 20% of the North American EOR market. Alberta’s vast oil sands deposits are rich in heavy oil and bitumen, which require thermal recovery techniques such as steam-assisted gravity drainage (SAGD) and cyclic steam stimulation (CSS) to extract. These thermal methods are particularly effective in reducing the viscosity of the heavy crude oil, making it easier to recover. The Canadian market is heavily reliant on thermal EOR technologies due to the high viscosity of oil sands, and with continuous advancements in these methods, Canada remains a key player in the regional EOR market.

Key players

Chevron Corporation
ExxonMobil Corporation
Occidental Petroleum Corporation
ConocoPhillips
Marathon Oil Corporation
Kinder Morgan, Inc.
Denbury Resources Inc.
Halliburton Company
Schlumberger Limited
Baker Hughes Company

Competitive Analysis

The North America Enhanced Oil Recovery (EOR) market is highly competitive, with major players like Chevron, ExxonMobil, and Occidental Petroleum leading the way. These companies have a significant market presence due to their vast experience in EOR techniques, particularly CO2 injection, thermal recovery, and chemical EOR. Chevron and ExxonMobil are pioneers in CO2-based EOR methods, contributing to advancements in carbon capture and storage (CCS) technologies. Halliburton, Schlumberger, and Baker Hughes, prominent service providers, offer cutting-edge EOR technologies and solutions, supporting oil companies with efficient recovery processes. Additionally, Denbury Resources and Kinder Morgan focus heavily on CO2 enhanced recovery, leveraging their infrastructure for large-scale projects. These companies continuously innovate to optimize recovery rates and lower operational costs, ensuring a competitive edge in the market. The focus on sustainable recovery methods, alongside the adoption of digital technologies, intensifies the competition in this growing market.

Recent Developments

In April 2025, Shell and SLB (formerly Schlumberger) announced a partnership to deploy Petrel subsurface software across Shell’s assets worldwide. This collaboration aims to enhance digital capabilities and drive operating cost efficiencies, potentially impacting EOR projects.

In April 2025, Eni confirmed a significant oil discovery at the Capricornus 1-X well in Namibia’s Orange Basin. The well found 38 meters of net pay with good petrophysical properties, indicating potential for future EOR applications.

In 2024, TotalEnergies reported a 23% increase in net electricity production and invested $4 billion in Integrated Power. This growth contributed to lowering the lifecycle carbon intensity of the company’s energy products sold by 16.5% in 2024 compared to 2015, aligning with its sustainability and climate objectives.

In March 2025, Equinor announced plans to drill 600 improved oil recovery wells and about 250 exploration wells to maintain production on the Norwegian Continental Shelf towards 2035.

In January 2025, OMV continued its Enhanced Oil Recovery program with carbon dioxide injection on Ivanić and Žutica fields

In April 2025, MOL Group continued its EOR program with CO₂ injection on Ivanić and Žutica fields, and installed a new steam turbine at the Molve plant to decrease electrical energy purchase and reduce CO₂ emissions.

Market Concentration and Characteristics

The North America Enhanced Oil Recovery (EOR) market is characterized by moderate to high concentration, with a few major players dominating the market. Large multinational oil companies such as Chevron, ExxonMobil, and Occidental Petroleum hold significant market shares, leveraging their extensive experience, technological expertise, and vast capital resources to implement advanced EOR techniques like CO2 injection and thermal recovery. Service providers like Halliburton, Schlumberger, and Baker Hughes play a critical role in delivering specialized technologies and support services to enhance oil recovery. The market is also marked by a growing emphasis on sustainability, with companies focusing on environmentally friendly methods such as CO2 sequestration and energy-efficient recovery processes. Despite the dominance of major players, there is a continuous push for innovation, particularly in carbon capture, storage, and digital technologies, ensuring a dynamic competitive landscape in this sector.

Report Coverage

The research report offers an in-depth analysis based on Application, Technology and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The demand for CO2 injection methods will continue to rise, driven by the need to enhance recovery from mature oil fields while meeting environmental targets. This method aligns with sustainability goals and carbon capture initiatives.

EOR adoption will increase in unconventional oil reserves such as shale oil and oil sands, helping to optimize production from challenging reservoirs. Enhanced recovery methods will extend the lifespan of these non-conventional resources.

Continuous advancements in thermal, gas, and chemical EOR technologies will improve efficiency and lower the costs of extraction. These innovations will lead to higher recovery rates and better resource management.

Digital tools, such as real-time monitoring, AI-driven predictive analytics, and automation, will optimize EOR processes, reduce human error, and enhance operational efficiency, shaping the future of the market.

Governments in North America will continue to promote sustainable EOR practices through regulations and financial incentives, especially those focusing on CO2 storage and reduced environmental impact.

Companies will prioritize environmentally friendly EOR technologies, such as low-emission CO2 injection and chemical EOR alternatives, to comply with stringent environmental regulations and corporate sustainability goals.

The integration of EOR with carbon capture and storage (CCS) will gain traction, especially in regions where CO2 emissions need to be reduced. This combined approach will drive growth in both sectors.

Offshore oil fields in the Gulf of Mexico and other areas will see greater adoption of advanced EOR techniques, helping to maintain and boost production levels in these challenging environments.

As oil prices remain volatile, operators will focus on more cost-effective EOR solutions that offer higher return on investment. This trend will push companies to develop and adopt technologies that lower operational costs.

Collaborative efforts between oil companies and technology providers will foster innovation in EOR techniques. Partnerships will enable more rapid development and deployment of advanced recovery technologies, contributing to market growth.

CHAPTER NO. 1 : INTRODUCTION 20

1.1.1. Report Description 20

Purpose of the Report 20

USP & Key Offerings 20

1.1.2. Key Benefits for Stakeholders 20

1.1.3. Target Audience 21

1.1.4. Report Scope 21

CHAPTER NO. 2 : EXECUTIVE SUMMARY 22

2.1. Enhanced Oil Recovery Market Snapshot 22

2.1.1. North America Enhanced Oil Recovery Market, 2018 – 2032 (USD Million) 23

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 24

3.1. Russia-Ukraine and Israel-Palestine War Impacts 24

CHAPTER NO. 4 : ENHANCED OIL RECOVERY MARKET – INDUSTRY ANALYSIS 25

4.1. Introduction 25

4.2. Market Drivers 26

4.2.1. Rising global demand for crude oil 26

4.2.2. Advancements in EOR technologies improving efficiency and reducing costs 27

4.3. Market Restraints 28

4.3.1. High operational costs associated with EOR implementation 28

4.4. Market Opportunities 29

4.4.1. Increasing exploration activities in offshore oil fields 29

4.5. Porter’s Five Forces Analysis 30

4.6. Buying Criteria 31

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 32

5.1. Import Analysis by North America 32

5.1.1. North America Enhanced Oil Recovery Market Import Volume/Revenue, By North America, 2018 – 2023 32

5.2. Export Analysis by North America 33

5.2.1. North America Enhanced Oil Recovery Market Export Volume/Revenue, By North America, 2018 – 2023 33

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 34

6.1. Demand Analysis by North America 34

6.1.1. North America Enhanced Oil Recovery Market Demand Volume/Revenue, By North America, 2018 – 2023 34

6.2. Supply Analysis by North America 35

6.2.1. North America Enhanced Oil Recovery Market Supply Volume/Revenue, By North America, 2018 – 2023 35

CHAPTER NO. 7 : PRODUCTION ANALYSIS 36

7.1. Production Analysis by North America 36

7.1.1. North America Enhanced Oil Recovery Market Production Volume/Revenue, By North America, 2018 – 2023 36

CHAPTER NO. 8 : PRICE ANALYSIS 37

8.1. Price Analysis by Type 37

8.1.1. North America Enhanced Oil Recovery Market Price, By Type, 2018 – 2023 37

8.1.2. North America Type Market Price, By Type, 2018 – 2023 37

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 38

9.1. Key Raw Materials and Suppliers 38

9.2. Key Raw Materials Price Trend 38

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 39

10.1. Manufacturing Cost Analysis 39

10.2. Manufacturing Process 39

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 40

11.1. Company Market Share Analysis – 2023 40

11.2. Value Chain Analysis 40

11.2.1. North America Enhanced Oil Recovery Market: Company Market Share, by Volume, 2023 41

11.2.2. North America Enhanced Oil Recovery Market: Company Market Share, by Revenue, 2023 42

11.2.3. North America Enhanced Oil Recovery Market: Top 6 Company Market Share, by Revenue, 2023 42

11.2.4. North America Enhanced Oil Recovery Market: Top 3 Company Market Share, by Revenue, 2023 43

11.3. North America Enhanced Oil Recovery Market Company Volume Market Share, 2023 44

11.4. North America Enhanced Oil Recovery Market Company Revenue Market Share, 2023 45

11.5. Company Assessment Metrics, 2023 45

11.5.1. Stars 45

11.5.2. Emerging Leaders 45

11.5.3. Pervasive Players 45

11.5.4. Participants 45

11.6. Start-ups /SMEs Assessment Metrics, 2023 45

11.6.1. Progressive Companies 45

11.6.2. Responsive Companies 46

11.6.3. Dynamic Companies 46

11.6.4. Starting Blocks 46

11.7. Strategic Developments 47

11.7.1. Acquisitions & Mergers 47

New Product Launch 47

North America Expansion 47

11.8. Key Players Product Matrix 48

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 49

12.1. PESTEL 49

12.1.1. Political Factors 49

12.1.2. Economic Factors 49

12.1.3. Social Factors 49

12.1.4. Technological Factors 49

12.1.5. Environmental Factors 49

12.1.6. Legal Factors 49

12.2. Adjacent Market Analysis 49

CHAPTER NO. 13 : ENHANCED OIL RECOVERY MARKET – BY APPLICATION SEGMENT ANALYSIS 50

13.1. Enhanced Oil Recovery Market Overview, by Application Segment 50

13.1.1. Enhanced Oil Recovery Market Revenue Share, By Application, 2023 & 2032 51

13.1.2. Enhanced Oil Recovery Market Attractiveness Analysis, By Application 52

13.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 52

13.1.4. Enhanced Oil Recovery Market Revenue, By Application, 2018, 2023, 2027 & 2032 53

13.2. Onshore 54

13.3. Offshore 55

CHAPTER NO. 14 : ENHANCED OIL RECOVERY MARKET – BY TECHNOLOGY SEGMENT ANALYSIS 56

14.1. Enhanced Oil Recovery Market Overview, by Technology Segment 56

14.1.1. Enhanced Oil Recovery Market Revenue Share, By Technology, 2023 & 2032 57

14.1.2. Enhanced Oil Recovery Market Attractiveness Analysis, By Technology 58

14.1.3. Incremental Revenue Growth Opportunity, by Technology, 2024 – 2032 58

14.1.4. Enhanced Oil Recovery Market Revenue, By Technology, 2018, 2023, 2027 & 2032 59

14.2. Thermal 60

14.3. Gas Injection 61

14.4. Chemical 62

14.5. Others 63

CHAPTER NO. 15 : ENHANCED OIL RECOVERY MARKET – NORTH AMERICA ANALYSIS 64

15.1. Application 64

15.1.1. North America Enhanced Oil Recovery Market Revenue, By Application, 2018 – 2023 (USD Million) 64

15.1.2. North America Enhanced Oil Recovery Market Revenue, By Application, 2024 – 2032 (USD Million) 64

15.2. Technology 65

15.2.1. North America Enhanced Oil Recovery Market Revenue, By Technology, 2018 – 2023 (USD Million) 65

15.2.2. North America Enhanced Oil Recovery Market Revenue, By Technology, 2024 – 2032 (USD Million) 65

15.3. U.S. 65

15.4. Canada 65

15.5. Mexico 65

CHAPTER NO. 16 : COMPANY PROFILES 66

16.1. Chevron Corporation 66

16.1.1. Company Overview 66

16.1.2. Product Portfolio 66

16.1.3. Swot Analysis 66

16.1.4. Business Strategy 67

16.1.5. Financial Overview 67

16.2. ExxonMobil Corporation 68

16.3. Occidental Petroleum Corporation 68

16.4. ConocoPhillips 68

16.5. Marathon Oil Corporation 68

16.6. Kinder Morgan, Inc. 68

16.7. Denbury Resources Inc. 68

16.8. Halliburton Company 68

16.9. Schlumberger Limited 68

16.10. Baker Hughes Company 68

List of Figures

FIG NO. 1. North America Enhanced Oil Recovery Market Revenue, 2018 – 2032 (USD Million) 22

FIG NO. 2. Porter’s Five Forces Analysis for North America Enhanced Oil Recovery Market 29

FIG NO. 3. North America Enhanced Oil Recovery Market Import Volume/Revenue, By North America, 2018 – 2023 31

FIG NO. 4. North America Enhanced Oil Recovery Market Export Volume/Revenue, By North America, 2018 – 2023 32

FIG NO. 5. North America Enhanced Oil Recovery Market Demand Volume/Revenue, By North America, 2018 – 2023 33

FIG NO. 6. North America Enhanced Oil Recovery Market Supply Volume/Revenue, By North America, 2018 – 2023 34

FIG NO. 7. North America Enhanced Oil Recovery Market Production Volume/Revenue, By North America, 2018 – 2023 35

FIG NO. 8. North America Enhanced Oil Recovery Market Price, By Type, 2018 – 2023 36

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 37

FIG NO. 10. Manufacturing Cost Analysis 38

FIG NO. 11. Manufacturing Process 38

FIG NO. 12. Value Chain Analysis for North America Enhanced Oil Recovery Market 39

FIG NO. 13. Company Share Analysis, 2023 40

FIG NO. 14. Company Share Analysis, 2023 41

FIG NO. 15. Company Share Analysis, 2023 41

FIG NO. 16. Company Share Analysis, 2023 42

FIG NO. 17. Enhanced Oil Recovery Market – Company Volume Market Share, 2023 43

FIG NO. 18. Enhanced Oil Recovery Market – Company Revenue Market Share, 2023 44

FIG NO. 19. Enhanced Oil Recovery Market Revenue Share, By Application, 2023 & 2032 50

FIG NO. 20. Market Attractiveness Analysis, By Application 51

FIG NO. 21. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 51

FIG NO. 22. Enhanced Oil Recovery Market Revenue, By Application, 2018, 2023, 2027 & 2032 52

FIG NO. 23. North America Enhanced Oil Recovery Market for Onshore, Revenue (USD Million) 2018 – 2032 53

FIG NO. 24. North America Enhanced Oil Recovery Market for Offshore, Revenue (USD Million) 2018 – 2032 54

FIG NO. 25. Enhanced Oil Recovery Market Revenue Share, By Technology, 2023 & 2032 56

FIG NO. 26. Market Attractiveness Analysis, By Technology 57

FIG NO. 27. Incremental Revenue Growth Opportunity by Technology, 2024 – 2032 57

FIG NO. 28. Enhanced Oil Recovery Market Revenue, By Technology, 2018, 2023, 2027 & 2032 58

FIG NO. 29. North America Enhanced Oil Recovery Market for Thermal, Revenue (USD Million) 2018 – 2032 59

FIG NO. 30. North America Enhanced Oil Recovery Market for Gas Injection, Revenue (USD Million) 2018 – 2032 60

FIG NO. 31. North America Enhanced Oil Recovery Market for Chemical, Revenue (USD Million) 2018 – 2032 61

FIG NO. 32. North America Enhanced Oil Recovery Market for Others, Revenue (USD Million) 2018 – 2032 62

List of Tables

TABLE NO. 1. : North America Enhanced Oil Recovery Market: Snapshot 21

TABLE NO. 2. : Drivers for the Enhanced Oil Recovery Market: Impact Analysis 25

TABLE NO. 3. : Restraints for the Enhanced Oil Recovery Market: Impact Analysis 27

TABLE NO. 4. : North America Enhanced Oil Recovery Market Revenue, By Type, 2018 – 2023 36

TABLE NO. 5. : Key Raw Materials & Suppliers 37

TABLE NO. 6. : North America Enhanced Oil Recovery Market Revenue, By Application, 2018 – 2023 (USD Million) 63

TABLE NO. 7. : North America Enhanced Oil Recovery Market Revenue, By Application, 2024 – 2032 (USD Million) 63

TABLE NO. 8. : North America Enhanced Oil Recovery Market Revenue, By Technology, 2018 – 2023 (USD Million) 64

TABLE NO. 9. : North America Enhanced Oil Recovery Market Revenue, By Technology, 2024 – 2032 (USD Million) 64

Frequently Asked Questions

What is the market size of the North America Enhanced Oil Recovery (EOR) market in 2023, 2032, and the expected CAGR?

The North America EOR market was valued at USD 17,991.29 million in 2024 and is projected to reach USD 31,301.06 million by 2032, with a CAGR of 7.17% from 2025 to 2032.

What are the main drivers of the North America EOR market?

The increasing demand for oil production, advancements in EOR technologies, and the need to enhance recovery from mature oil fields are key drivers of market growth.

What EOR techniques are primarily used in North America?

Key EOR techniques in North America include CO2 injection, thermal recovery, and chemical flooding, which help enhance oil extraction efficiency from mature reservoirs.

Who are the major players in the North America EOR market?

Major players include Schlumberger, Halliburton, Baker Hughes, and Occidental Petroleum, all of which are leading the way in advancing EOR technologies and expanding market presence.

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