Reservoir Analysis Market Key Opportunities, Growth Prospect and Size Estimation Till 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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Data acquisition and monitoring services: The largest segment of the reservoir analysis market, by service, in 2017

Data acquisition and monitoring services held the largest share in the reservoir analysis market. Data acquisition and monitoring services helps to enhance reservoir functionality and optimize production by providing real time information with a faster decision cycle. Various equipment and software are used to perform the data acquisition task. The tools that are used includes memory gauges, surface readout tools, and surface measuring equipment, which are used to get accurate and real time data of a well. Increase in E&P activities from unconventional resources is expected to increase the demand for data acquisition and monitoring services.

The onshore sub-segment is estimated to have the highest growth rate in the reservoir analysis market, by application

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. In the Middle East and North American region, the maximum number of oilfields are located onshore, and, thus, exploration & production activities carried out in these regions are expected to drive the onshore segment during the forecast period.

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Unconventional sub-segment is estimated to have the highest growth rate in the reservoir analysis market, by resource type

The development of new technologies, such as hydraulic fracturing and directional or horizontal drilling and the abundance of unconventional resources globally, have led to an increase in the exploration & production from unconventional resources. These factors are expected to drive the unconventional reservoir analysis market at the fastest rate during the forecast period.

North America: The largest market for reservoir analysis in 2017

The market in North America is currently the largest market of the reservoir analysis market, closely followed by Asia-Pacific. Technological advancements in drilling, such as long-reach horizontal well bores and completion techniques, such as multi-stage hydraulic fracturing, have led to an increase in E&P from unconventional resources and is driving the reservoir analysis market in this region. The market in the U.S. dominates the North American market, followed by Canada and Mexico. The market in the U.S. surpassed the markets in Russia and Saudi Arabia, and became the world’s top producer of petroleum and natural gas hydrocarbons in 2015.

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