Worldwide Oil and Gas Digital Rock Analysis Industry to 2025 - North America to Dominate the Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Digital Rock Analysis Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The oil and gas digital rock analysis market is expected to grow at a CAGR of more than 2.5% over the period of 2020-2025.

Companies Mentioned

• Schlumberger Limited
• Halliburton Company
• Baker Hughes Company
• Weatherford International PLC
• CGG SA
• Core Laboratories N.V.
• Thermo Fisher Scientific Inc.
• Trican Well Service Limited

Key Market Trends

Conventional Segment to Dominate the Market

Oil and gas digital rock analysis encompass a multi-disciplinary approach involving advanced microscopy and physics combined with geology, geochemistry, petrophysics, and petroleum engineering to understand the pore-scale microstructure of reservoir rock. It may be used to help exploration and production (E&P) operators to reduce risk, increase the production of hydrocarbon, and improve the recovery from the well. Its improvements made over the conventional methods are expected to aid its growth in the market.

• Unlike traditional core analysis, which works on the assumption that homogeneous rock samples comprise a single distinguishable rock-type, digital core analysis allows for a detailed assessment of the heterogeneity and classification of a core's physical properties. This leads to more robust calibrations of well-logging data as well as a better understanding of mechanisms correlating different physical measurements, thus reducing uncertainty. An increase in the reliability of the system's data over the traditional methods may boost the market.
• Advancements are being made in the application of super-resolution and machine-learning techniques in the process of reservoir characterization to quantify uncertainty stemming from small-scale details, which may help develop efficient numerical algorithms to test and challenge the assumptions while embedding data structures for upscaling physical properties from the pore scale. As the research proceeds, oil and gas digital rock analysis are expected to provide a reliable platform to create better reservoir models that are able to more accurately analyze the reservoir and its properties.

North America to Dominate the Market

North America region is the largest oil and gas digital rock analysis market and is expected to continue its dominance in the coming years. The region consists of major oil and gas oil production basins in the world, which provide fertile ground for further growth in the industry.

• The United States is the largest user of the oil and gas digital rock analysis in the region, especially with the boom in shale oil and gas in many of the onshore basins like the Permian basin that have contributed to the advancement in the digital rock analysis market. Shale oil and gas have steadily increased in the country, and market players are looking for better ways to extract from the reservoirs in the shale basins. Oil and gas digital rock analysis may provide for that requirement in the forecast period.
• The shale gas boom is expected to further provide growth in the oil and gas industry, which is expected to increase the growth in the oil and gas digital rock analysis market. In the 2018-2019 period, in the United States, shale gas increased by 15.76%, which is expected to positively aid the oil and gas digital rock analysis market.
• In 2018, the United States Interior Department allowed drilling in nearly all the United States waters, which is among the biggest expansions of offshore oil and gas leasing by the federal government in the history of the United States. This new development is expected to drive offshore exploration and production activity, and hence, the demand for digital rock analysis is likely to increase in the future.
• North America increased its output of crude oil increased significantly to 1027.1, in 2018 from 918.7, in 2017. Whereas, the region's gas production increased from 826.8, in 2017 to 906.2, in 2018. Increasing production is expected to create demand for better oil and gas digital rock techniques.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2025

4.3 Crude Oil Production and Consumption Forecast, in thousands barrels per day, till 2025

4.4 Natural Gas Production and Consumption Forecast, in billion cubic feet per day, till 2025

4.5 Recent Trends and Developments

4.6 Government Policies and Regulations

4.7 Market Dynamics

4.7.1 Drivers

4.7.2 Restraints

4.8 Supply Chain Analysis

4.9 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Type

5.1.1 Conventional

5.1.2 Unconventional

5.2 Geography

5.2.1 North America

5.2.2 Asia-Pacific

5.2.3 Europe

5.2.4 South America

5.2.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/5k9gdf