Microbial Enhanced Oil Recovery (MEOR) Market to See 17.37% CAGR through 2020, Forecasts Azoth Analytics in Report Available at MarketPublishers.com
17 Nov 2016 • by Natalie Aster
LONDON – Spurred by aging oil and gas infrastructure, enhancing need for alternative technologies, increasing offshore drilling activities, favourable environmental and economic factors, declining crude oil prices, rising demand for fuel and also introduction of CO2 reducing emission norms and policies, the world’s demand for microbial enhanced oil recovery (MEOR) is on the rise today.
The worldwide MEOR market is anticipated to register an impressive CAGR of 17.37% between 2016 and 2021. Increased activities in the global oil and gas market and increasing number of MEOR projects and field trails worldwide will likely give further impetus to the MEOR market growth.
China boasts high exporting capacity for natural gas and also ranks the first in the world in terms of net imports of petroleum and other liquids, primarily on account of the rising oil consumption in the country. This is expected to encourage remarkable growth in the overall APAC market for MEOR through 2021.
Meantime, the MEOR market in Middle East and Africa will follow an upward trend in the next five years, driven by increasing demand for oil and gas in the region, strong demand for energy and ongoing developments in the industrial and manufacturing sectors.
The North American MEOR market will also exhibit healthy growth owing to numerous MEOR field projects and trials, especially in the US and Canada.
Insightful research study “Global Microbial Enhanced Oil Recovery (MEOR) Market: Opportunities and Forecasts (2016-2021) By Metabolic Products, By Applications, By Location of Application, By Region” prepared by Azoth Analytics gives a look at the world MEOR market scenario. It contains important industry performance estimates, uncovers data on the key growth influencing factors and also explores the situation at various geographical scales. The report includes details on the competitive pressures and top players, touches upon the recent developments, gives info on the major regulative initiatives and presents historical insights. The research study comprises an all-round assessment of the current market scenario and also outlines future growth prospects and opportunities for the global MEOR market through 2021.
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