According to the latest report by IMARC Group, titled “Reservoir Analysis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global reservoir analysis market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Reservoir analysis assists in collecting critical data from downhole temperature for subsea safety systems and evaluating the performance of an oil reservoir in real-time. It aids in determining water encroachment rates and flow-related properties of the fluids. Reservoir analysis also helps explorers understand reservoir behavior for appropriate production procedures and optimizing the recovery techniques. Presently, it is widely employed in the oil and gas industry to enable better decision-making and get a full view of permeability, skin, and initial pressure of the reservoir.
The low discovery rate of new oil reserves is leading to the shifting focus towards the efficient development and evaluation of existing reserves. This is among the key factors driving the reservoir analysis market. Moreover, the government bodies of several countries are implementing stringent laws for resource conservation and recovery, which is further catalyzing the market growth. In addition to this, the escalating consumption of energy on account of the elevating urbanization levels and the rising utilization of electrical equipment is propelling the usage of reservoir analysis to enhance the productivity and accuracy of oil and gas exploration projects. Furthermore, reservoir analysis aids in getting actionable data, automated measurements, real-time monitoring statistics, etc., which is also augmenting the global market. Apart from this, the growing integration of advanced technologies, including sensors, data acquisition, amplitude preserving, etc., is anticipated to propel the reservoir analysis market in the coming years.
Reservoir Analysis Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global reservoir analysis market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Baker Hughes Company (General Electric Company)
- CGG
- Core Laboratories N.V.
- Emerson Electric Co.
- Expro Group
- Halliburton Company
- Paradigm Group B.V.
- Probe Holdings Inc.
- Schlumberger Limited
- SGS SA
- Tracerco (Johnson Matthey Plc)
- Trican Well Service Ltd.
- Weatherford International Ltd.
Key Market Segmentation:
The report has segmented the global reservoir analysis market on the basis of service, reservoir type, end user and region.
Breakup by Service:
- Reservoir Simulation and Geo Modeling
- Reservoir Sampling Service
- Data Acquisition and Monitoring
Breakup by Reservoir Type:
- Conventional
- Unconventional
Breakup by End User:
- Onshore
- Offshore
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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