Friar Lane, United Kingdom, June 26, 2016 --(PR.com
)-- According to a recently published report, the global Eenhanced Oil Recovery Market is expected to grow and reach $421 billion till 2022 with the growing CAGR of 19.7% during 2015-2022. The segmentation of the global enhanced oil recovery market is based on application, technology, and region. The report on global enhanced oil recovery market forecast, 2015-2022 (application, technology, and region) provides a detailed overview and predictive analysis of the market.
The global enhanced oil recovery market is growing at a CAGR of 19.7% during the forecast year 2015-2022. Enhanced oil recovery is the implementation of various techniques for increasing the amount of crude oil that can be extracted from an oil field. The global enhanced oil recovery market is expected to reach whopping $421 billion till 2022. Due to rise in population and technological advancement, the requirement of energy and energy substitutes is increasing day by day in turn increasing the demand for energy. According to a survey, till 2030 the total world energy requirement will rise up to 55%, coal makes up to 2/5 of the world’s electricity. Rising industrialization in every region increases the power requirement as energy is the source which is necessary for running of machines and other equipment. Increase in number of population also affects the global energy consumption as demand and supply gap should be filled in terms of energy consumption. Many developing countries are heading towards energy consumption for their development. China is the country which uses maximum energy in terms of usage as, the country has many industries, huge population, and new product innovation industries
Detailed study on this Report: http://www.briskinsights.com/report/enhanced-oil-recovery-by-application-market