Reservoir Analysis Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 2.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Reservoir Analysis Market Analysis
The Reservoir Analysis Market is expected to grow at a CAGR of more than 2% over the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.
- Over the medium term, factors such as an increase in the complexity of the reservoir due to increased depth and use of multiple horizontal wells, and rising production of oil and gas, which require more sophisticated techniques like reservoir analysis and, therefore, are expected to drive the market.
- On the other hand, low reliability due to a lack of correct data is expected to restrain the market.
- Nevertheless, gas hydrates production may become an opportunity for the market players as its economically viable production may pose new problems, which may require better techniques of reservoir analysis.
- North America is expected to dominate the reservoir analysis market due to a significant rise in investment in oil and gas exploration and production projects.
Reservoir Analysis Market Trends
This section covers the major market trends shaping the Reservoir Analysis Market according to our research experts:
Unconventional Segment to Witness Fastest Growth
- The Shale Gas boom is expected to provide further growth in the oil and gas industry, which is expected to increase the growth in the reservoir analysis market. Shale gas production increase is expected to aid the reservoir analysis market positively.
- In 2021, global production accounted for around 7.23 million barrels of oil per day, the largest type being light-tight oil (LTO). An increase in the production of oil is expected to provide a boost to the sector.
- According to estimates, in 2021, China has the largest technically recoverable shale gas resource, with 21.8 trillion cubic feet (Tcf).
- Global tight gas resources are estimated, in 2021, at 2,684 Tcf, with the largest in Asia-Pacific and Latin America. Resources of coalbed methane (CBM) are estimated at 1,660 Tcf, with more than 75% in Europe and Asia-Pacific.
- Therefore, with the increase in demand for oil and gas, the global reservoir analysis market is expected to increase considerably during the forecast period.
North America to Dominate the Market
- North America region has dominated the reservoir analysis market and is expected to continue its dominance in the coming years. The region consists of major oil and gas production basins worldwide.
- The United States is among the largest user of reservoir analysis systems, especially with the boom in shale oil and gas in many of the onshore basins like the Permian basin have contributed to the advancement in the reservoir analysis market.
- North America increased its oil output significantly to 23.94 million barrels per day in 2021 from 14.34 million barrels per day in 2011. In contrast, the region's gas production increased from 82 billion cubic feet per day to 110 billion cubic feet per day during the same period. Increasing production is expected to create demand for better reservoir analysis techniques.
- In 2018, the United States Interior Department allowed drilling in nearly all the United States waters, which is among the biggest expansions of offshore oil & gas leasing by the federal government in the history of the United States. This development has driven offshore exploration and production activity in the region. Thus the rising number of exploration and production activities in the region is expected to boost the demand for digital oilfield solutions is likely to increase.
- Hence, the North America region is expected to dominate the market due to its large oil and gas upstream sector and increasing demand for fossil fuels around the globe.
Reservoir Analysis Industry Overview
The Reservoir Analysis Market is partially fragmented. Some of the key players in this market are (not in particular order) Schlumberger Limited, Halliburton Company, Baker Hughes Company, Weatherford International PLC, and CGG SA.
Reservoir Analysis Market Leaders
-
Schlumberger Limited
-
Halliburton Company
-
Baker Hughes Company
-
Weatherford International PLC
-
CGG SA
*Disclaimer: Major Players sorted in no particular order
Reservoir Analysis Market News
- December 2022: ADNOC Offshore awarded two major software contracts to Dome Principals, Kappa, and Amarile. Kappa, a petroleum engineering software company, will provide ADNOC with different types of Reservoir Related Software Management Systems such as EMERAUDE,SAPHIRE, TOPAZ, etc. Amarile is a company helping Reservoir Engineers speed up and improve the quality of their field dynamic simulation workflow.
- June 2022: CGG announced that the company secured a four-year contract extension for its dedicated reservoir services center for Petrobras in Rio de Janeiro, Brazil.
Reservoir Analysis Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD Billion, till 2027
4.3 Crude Oil Production Forecast, in thousands barrels per day, till 2027
4.4 Natural Gas Production Forecast, in billion cubic feet per day, till 2027
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.7.1 Drivers
4.7.2 Restraints
4.8 Supply Chain Analysis
4.9 Porter's Five Forces Analysis
4.9.1 Bargaining Power of Suppliers
4.9.2 Bargaining Power of Consumers
4.9.3 Threat of New Entrants
4.9.4 Threat of Substitutes Products and Services
4.9.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application
5.1.1 Onshore
5.1.2 Offshore
5.2 Reservoir Type
5.2.1 Conventional
5.2.2 Unconventional
5.3 Service
5.3.1 Geo Modeling
5.3.2 Reservoir Simulation
5.3.3 Data Acquisition and Monitoring
5.3.4 Reservoir Sampling
5.3.5 Others
5.4 Geography
5.4.1 North America
5.4.2 Asia-Pacific
5.4.3 Europe
5.4.4 South America
5.4.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Schlumberger Limited
6.3.2 Halliburton Company
6.3.3 Baker Hughes Company
6.3.4 Weatherford International PLC
6.3.5 CGG SA
6.3.6 Core Laboratories N.V.
6.3.7 Roxar Software Solutions AS
6.3.8 Trican Well Service Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Reservoir Analysis Industry Segmentation
Reservoir Analysis develops subsurface data to integrate analysis of rocks, pores, and fluids from various reservoirs. In addition, it calculates dynamic rock and fluid properties and gives reservoir model indirect measurements.
The Reservoir Analysis Market is segmented by application, reservoir type, service, and geography. By applications, the market is segmented into onshore and offshore. By reservoir type, the market is segmented into conventional and unconventional. By service, the market is segmented into geo modeling, reservoir simulation, data acquisition and monitoring, reservoir sampling, and others. The report also covers the market size and forecasts for the reservoir analysis market across the major region. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Application | |
| Onshore | |
| Offshore |
| Reservoir Type | |
| Conventional | |
| Unconventional |
| Service | |
| Geo Modeling | |
| Reservoir Simulation | |
| Data Acquisition and Monitoring | |
| Reservoir Sampling | |
| Others |
| Geography | |
| North America | |
| Asia-Pacific | |
| Europe | |
| South America | |
| Middle-East and Africa |
Reservoir Analysis Market Research FAQs
What is the current Reservoir Analysis Market size?
The Reservoir Analysis Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Reservoir Analysis Market?
Schlumberger Limited , Halliburton Company , Baker Hughes Company , Weatherford International PLC and CGG SA are the major companies operating in the Reservoir Analysis Market.
Which is the fastest growing region in Reservoir Analysis Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Reservoir Analysis Market?
In 2024, the North America accounts for the largest market share in Reservoir Analysis Market.
What years does this Reservoir Analysis Market cover?
The report covers the Reservoir Analysis Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Reservoir Analysis Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Reservoir Analysis Industry Report
Statistics for the 2024 Reservoir Analysis market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Reservoir Analysis analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
