A report on Reservoir Analysis Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Reservoir Analysis Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth.
The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
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. 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.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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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 RESEARCH:
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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