Reservoir Analysis Market Set for Rapid Growth and Trend, by 2022

The reservoir analysis market, by value, is expected to grow at a CAGR of 4.11%, from 2017 to 2022, to reach a market size of USD 8,954.9 million by 2022. Low international crude oil prices have upset the traditional well production economics, whereas, the key factors that would drive the reservoir analysis market during the forecast period includes maximizing hydrocarbon recovery, the increasing shale gas production, and the increased reliability on reservoir analysis due to technological advancements.

The reservoir analysis market is highly fragmented and is served by large international players with a full suite of solutions, as well as local players offering specific services. The key players in the reservoir analysis industry include Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International, PLC (Switzerland), SGS S.A. (Switzerland), Core Laboratories (U.S.), ALS Oil & Gas (Australia), CGG SA (France), and Trican Well Service Limited (Canada) among others.

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Scope of the Report:

By Service

• Reservoir Simulation and Geo Modeling
• Data Acquisition and Monitoring
• Reservoir Sampling Services

By Resource type

• Conventional
• Unconventional

By Application

• Onshore
• Offshore

By Region

• Europe
• North America
• Asia-Pacific
• Middle East
• Africa
• South America

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The reservoir analysis market is segmented by service, by application, by resource, and by region. The increasing production from unconventional resources, in the North American region is driving the reservoir analysis market in this region.

The report segments the reservoir analysis market, based on services, into reservoir simulation and geo modeling, data acquisition and monitoring, and reservoir sampling services. Data acquisition and monitoring services would account for the maximum share in the reservoir analysis market, due to shale gas exploration and production activities in North America. Moreover, the market in Asia-Pacific present opportunities as offshore exploration activities are on rise in these regions.

With regard to the application segment, the reservoir analysis market is segmented into onshore and offshore. The onshore segment is expected to dominate the reservoir analysis market and is also expected to grow at the fastest rate during the forecast period. Onshore applications are quite famous in the Middle East and North America, where maximum number of oilfields are located onshore.

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The report segments the reservoir analysis market, based on resource type, into conventional and unconventional resources. The conventional resources segment is expected to hold the largest share of the reservoir analysis market. The relative simplicity and comparatively low cost of the services required for developments of these conventional resources are one of the key reasons for larger market share. The development of new technologies and the abundance of unconventional resources globally, is expected to drive the unconventional reservoir analysis market at the fastest rate during the forecast period.

The reservoir analysis market is expected to grow at the fastest rate in the North American region, due to ongoing shale gas exploration activities in the U.S. and increase in production rates from unconventional resources, in Canada. The liberalization of the Mexican energy sector is expected to attract foreign investors and is also expected to drive the reservoir analysis market in the country. All these factors contribute to the growth of the reservoir analysis market in this region.

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