![Global Microbial Enhanced Oil Recovery Market](https://res.cloudinary.com/devmoveo/image/upload/v1709642787/skyquest/gallery/Global-Microbial-Enhanced-Oil-Recovery-Market.jpg)
Report ID: SQMIG10C2028
Report ID:
SQMIG10C2028 |
Region:
Global |
Published Date: March, 2024
Pages:
157
|
Tables:
9 |
Figures:
73
Global Microbial Enhanced Oil Recovery Market size was valued at USD 901.08 million in 2022 and is poised to grow from USD 1011.01 million in 2023 to USD 2539.21 million by 2031, growing at a CAGR of 12.2% in the forecast period (2024-2031).
The global microbial enhanced oil restoration (MEOR) marketplace is characterised by a growing emphasis on sustainable and innovative methods to extract hydrocarbons from mature oil reservoirs. MEOR entails the use of microorganisms to decorate oil healing through modifying the reservoir situations. The marketplace is driven by the increasing want to optimize oil production, especially in ageing fields wherein traditional methods may additionally prove less effective.
Factors inclusive of environmental issues, stringent regulations, and the preference for fee-effective and green extraction techniques make a contribution to the rising adoption of MEOR technology. Ongoing research and development sports are similarly improving the performance and applicability of microbial answers within the oil and fuel industry. The MEOR marketplace is poised for growth as the strength area seeks more sustainable and technologically superior processes to maximise oil restoration.
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Report ID: SQMIG10C2028