LONDON–(BUSINESS WIRE)–WTechnavio has been monitoring the microbial enhanced oil recovery market and it is poised to grow by USD 156.7 million during 2020-2024, progressing at a CAGR of 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio’s latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Microbial Enhanced Oil Recovery Market. Download free sample report
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Chemiphase Ltd., DuPont de Nemours Inc., Environmental BioTechnologies Inc., Equinor ASA, Micro-Bac International Inc., Microbial Energy Inc., ONGC TERI Biotech Ltd., Qyrin Petroleum Technology, RAM Biochemicals Inc., and Titan Oil Recovery Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The advantages of microbial enhanced oil recovery has been instrumental in driving the growth of the market.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/microbial-enhanced-oil-recovery-market-industry-analysis
Microbial Enhanced Oil Recovery Market 2020-2024: Segmentation
Microbial Enhanced Oil Recovery Market is segmented as below:
- North America
- South America
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Microbial Enhanced Oil Recovery Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our microbial enhanced oil recovery market report covers the following areas:
- Microbial Enhanced Oil Recovery Market Size
- Microbial Enhanced Oil Recovery Market Trends
- Microbial Enhanced Oil Recovery Market Analysis
This study identifies growing investments in the shale industry as one of the prime reasons driving the microbial enhanced oil recovery market growth during the next few years.
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Read More: COVID-19 Impact and Recovery Analysis- Microbial Enhanced Oil Recovery
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