The global reservoir analysis market size was US$ 8.41 billion in 2021. The global reservoir analysis market size is forecast to reach US$ 11.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.9% during the forecast period from 2022 to 2030.

A reservoir is a subsurface pool of hydrocarbons that form in porous or fractured rock formations, both conventional and unconventional. Conventional reservoir hydrocarbons, such as oil and gas, are easily accessible by well drilling. Unconventional reservoir hydrocarbons have low permeability buried in rocks; they require a special operation strategy to recover. Reservoir analysis integrates the analysis of rocks, pores, and fluids from various reservoirs. The model also calculates dynamic rock and fluid properties and gives indirect reservoir measurements.  

Factors Influencing Market Growth

• As a result of the growing population, oil & gas demand is growing significantly, despite the increasing cost to purchase energy. In addition, it has become increasingly important to maintain these fields at their optimal production levels and extract as much as possible to sustain production. As a result, the energy supply has increased. Thus, an increase in energy demand globally is forecast to drive the global market. 
• Increasing emphasis on mature oil & gas fields and advancements across new sectors drive the global market.
• High operating costs, risks, and complexity associated with reservoir analysis may slow down the overall market growth.
• Development in hydraulic fracturing technology and increasing spending capacity for exploration and development tasks will create new opportunities for the global reservoir analysis market during the forecast period. 

Impact Analysis of COVID-19

The COVID-19 pandemic had a negative impact on the global market as it brought refinery activities to a halt globally, which slowed down the construction and exploration of refinery projects worldwide. The lockdown initially caused the industry to shut down, resulting in a drop in sales. As a result of the lockdown in many of the world's largest consumers of oil, gas, and petroleum-related products, oil prices decreased worldwide last year. 

Regional Insights

The Asia Pacific is forecast to grow at a high rate in the reservoir analysis market. China, India, and Indonesia are major contributors to global oil & gas production, which has led to an increase in production and exploration activities. Growing demand for hydrocarbon recovery and technological advances are driving the market. 

LAMEA held dominance in the reservoir analysis market in 2021 and is forecast to hold this position throughout the forecast period. A significant advance in drilling & production technology has led to an increase in the demand for reservoir analysis tools in the market.

Leading Competitors

The leading prominent companies profiled in the global reservoir analysis market are:

• Baker Hughes, Incorporated
• Core Laboratories
• Emerson Electric Co.
• Expro Group
• Geokinetics, Incorporated
• Halliburton
• Johnson Matthey
• Schlumberger Limited
• Trican Well Service Limited
• Weatherford International Limited
• Other Prominent Players

Scope of the Report

The global reservoir analysis market segmentation focuses on Reservoir Type, Service, Application, and Region.

Segmentation based on Reservoir Type

• Conventional
• Unconventional

Segmentation based on Service

• Geo Modeling & Reservoir Simulation
• Data Acquisition & Monitoring
• Reservoir Sampling

Segmentation based on Application

• Onshore
• Offshore

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America