Global Enhanced Oil Recovery (EOR) Market Size, Share, Growth Trends, and Forecast Analysis by Technology, Application, and Region (2025–2032)
Enhanced Oil Recovery Market Overview The global Enhanced Oil Recovery Market was valued at USD 56.41 billion in 2024 and is projected to reach USD 97.65 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 7.1% from 2025 to 2032. Enhanced Oil Recovery (EOR), also known as tertiary recovery, is a crucial method for extracting additional oil from underground reservoirs after primary and secondary recovery methods have been exhausted. This is typically achieved by injecting fluids or altering the oil's properties to improve its flow. Common EOR methods include thermal, chemical, and immiscible gas injections, each tailored to specific reservoir characteristics and fluid compositions. The market's growth is predominantly driven by the increasing global demand for energy, the depletion of easily accessible oil reserves, and continuous technological advancements in EOR techniques. A significant factor is the heightened focus on maximizing ultimate rec...