What is the future of Reservoir Analysis Market? Know Covid Impact on Size, Share & Forecasts
July 27,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Reservoir Analysis Market.
Reservoir Analysis Market is likely to witness a CAGR of 4.3% during the forecast period. The major factors that are driving the reservoir analysis market are increasing energy demand from emerging economies, growing focus on mature oil and gas fields and new field developments, and mounting reliability in reservoir analysis on account of technology advancements.
Reservoir Analysis develops and collects surface data to integrate analysis of rocks, pores, and fluids from various reservoirs. Further, it calculates dynamic rock & fluid properties and gives reservoir model indirect measurements. It is used in both conventional and nonconventional reservoirs. On the basis of services, it can be categorized into reservoir simulation & geo modeling, data acquisition & monitoring services, and reservoir sampling services.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the service type, the market is segmented as reservoir simulation & geo modeling, data acquisition & monitoring services, and reservoir sampling services. The data acquisition & monitoring services segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. It aids in enhancing reservoir functionality and improves production by providing real time information with real time information with a faster decision cycle.
Based on the reservoir type, the market is segmented as conventional and unconventional reservoir. The unconventional reservoir type segment is expected to grow at a higher rate during the forecast period. Development of new technologies and the abundant presence of unconventional resources, globally, are expected to drive the growth of the segment.
In terms of regions, North America is estimated to be the largest market during the forecast period. Increased oil & gas exploration activities from unconventional resources in the USA is the major factor driving the North American market. Asia-Pacific and Europe are also expected to offer sizeable opportunities during the forecast period.
Key Players:
- Schlumberger Limited,
- Halliburton Company,
- Baker Hughes Incorporated,
- Weatherford International, PLC,
- CGG SA,
- Core Laboratories,
- Tracerco,
- SGS SA, ALS Oil & Gas,
- Expro Group,
- Geokinetics,
- Intertrek,
- Paradigm,
- Roxar Software Solutions AS,
- Trican Well Service Limited.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Reservoir Analysis Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors