The Global Reservoir Analysis Market was valued at USD 7.12 billion in 2016 and is projected to reach USD 10.20 billion by 2025, growing at a CAGR of 4.09% from 2017 to 2025.
A Reservoir is a storage space for fluids. These fluids may be water, hydrocarbons or gas. Reservoir Analysis plays an important role in determining the fluid properties as well as flow rate. It also provides necessary inputs pertaining to completion of design and oil & gas production.
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This market would be beneficial for Consulting companies, Government and research organizations, Investment banks, National Oil Companies, Reservoir analysis tools and equipment manufacturers, Reservoir analysis service companies, Oil & gas field operators, Power and energy associations.
1. Market Drivers
1.1 Exploring unconventional reservoir
1.2 Increasing field development
1.3 High reliability in reservoir analysis due to technological advancements
1.4 Need for maximizing hydrocarbon recovery
1.5 Growing energy demand from emerging economies
2. Market Restraints
2.1 Reducing the reservoir uncertainty and optimize reservoir management
2.2 Issues with accurate representation of reservoir geometry and heterogeneity
2.3 Need to identify small scale reservoir compartments
2.4 Rising environmental concerns
The Global Reservoir Analysis Market is segmented on the resource type, service, application, and region.
1. Resource Type:
2. By Service:
2.1 Data Acquisition and Monitoring
2.2 Reservoir Sampling Services
2.3 Reservoir Simulation and Geo Modeling
3. By Application:
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Baker Hughes Incorporated
2. Schlumberger Limited
3. SGS SA
4. CGG SA
5. Expro Group
7. Roxar Software Solutions as
8. Trican Well Service Limited
10. Halliburton Company
11. Weatherford International, PLC
12. ALS Oil & Gas
13. Core Laboratories
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Reservoir Analysis Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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