Microbial Enhanced Oil Recovery Market Analysis

Well Type (Onshore, offshore)

The global microbial enhanced oil recovery (MEOR) market is segmented and analyzed for demand and supply by well type into onshore, and offshore. Out of the two types of well types, the onshore segment is estimated to gain the largest market share of about 59% in the year 2037. The primary factor for market growth is the increased number of onshore oil rigs as compared to offshore oil rigs present over the oil. For instance, it was calculated that at the end of 2021, there were 1,300 operational onshore oil rigs, compared with 200 offshore rigs across the world. Furthermore, the availability of oil is more in onshore wells owing to which, more investors are propelled more invest in onshore wells. Also, in onshore wells, oilfield chemicals are easily available which is considered to contribute positively to segment growth during the forecast period.

Mechanism (In-Situ, Ex-Situ)

The global microbial enhanced oil recovery (MEOR) market is also segmented and analyzed for demand and supply by mechanism into an in-situ mechanism, ex-situ mechanism, and others. Amongst these two segments, the in-situ mechanism segment is expected to garner a significant share of around 46% in the year 2037. In-situ mechanism, there is a generation of gases, acids, biopolymers, and others owing to the stimulation of different indigenous bacteria under appropriate reservoir conditions. Also, the in-situ mechanism involves the utilization of microbial growth and metabolism in the reservoir. All these advantages of the in-situ mechanism are anticipated to aid the expansion of segment growth.

Our in-depth analysis of the global market includes the following segments: