The Business Research Company’s Carbon Dioxide Enhanced Oil Recovery (CO2 EOR) Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

The Business Research Company’s Carbon Dioxide Enhanced Oil Recovery (CO2 EOR) Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034”
— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, December 12, 2025 /EINPresswire.com/ -- The carbon dioxide enhanced oil recovery (CO2 EOR) market is gaining significant traction as energy producers seek more efficient methods to extract oil from aging reservoirs. With increasing demand for crude oil and advancements in recovery technologies, this sector is positioned for steady growth. Let’s explore the market’s current size, key growth drivers, leading regions, and emerging trends shaping its future.

Steady Growth Outlook for the Carbon Dioxide Enhanced Oil Recovery Market
The CO2 EOR market has experienced solid expansion recently and is set to continue this upward trend. From a valuation of $2.22 billion in 2024, it is projected to rise to $2.38 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%. This earlier growth phase was largely fueled by a rise in mature oil fields, heightened crude oil demand, a stronger focus on tertiary recovery methods, government support initiatives, plentiful low-cost CO2 sources, and an expanding base of oilfield service providers.

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Future Market Projections Highlight Robust Expansion
Looking beyond 2025, the carbon dioxide enhanced oil recovery market is expected to keep expanding, reaching $3.12 billion by 2029 with a CAGR of 7.0%. Factors driving growth during this forecast period include the integration of CO2 EOR methods with carbon capture projects, increased adoption of CCUS (carbon capture, utilization, and storage) in shale basins, intensified efforts to reduce emissions, wider use of the technology in unconventional reservoirs, supportive regulations, and the development of more efficient CO2 supply chains. Key industry trends anticipated in this timeframe include innovations in CO2 injection techniques, advances in reservoir monitoring and simulation, enhanced CO2 recycling technologies, research focused on improving CO2 storage efficiency, and collaborative efforts to develop new technologies.

Understanding Carbon Dioxide Enhanced Oil Recovery Technology
CO2 EOR is an oil extraction process where carbon dioxide is injected into depleted or mature oil reservoirs. This injection helps raise the reservoir pressure and decreases the viscosity of the remaining oil, enabling it to flow more freely toward production wells. This technique not only enhances oil recovery rates from existing fields but also offers the added benefit of long-term underground carbon dioxide storage, contributing to environmental management goals.

Key Growth Driver: Rising Crude Oil Production Boosts Demand
One of the main forces propelling the CO2 EOR market is the ongoing increase in crude oil production. Crude oil production involves extracting unrefined petroleum through drilling and other methods. The surge in output is driven by intensified drilling activities that improve extraction rates. CO2 EOR plays a crucial role by injecting carbon dioxide into reservoirs to mobilize trapped hydrocarbons, enhance sweep efficiency, and increase recovery rates in mature oil fields. For example, in November 2025, the International Energy Agency projected that global oil supply would grow by an average of 3.1 million barrels per day (mb/d) in 2025 and 2.5 mb/d in 2026, reaching a total of 108.7 mb/d. This continuous increase in crude oil production is a significant factor supporting CO2 EOR market growth.

Regional Dynamics in the Carbon Dioxide Enhanced Oil Recovery Market
In 2024, North America held the largest share of the CO2 EOR market, benefiting from established oilfields and supportive infrastructure. However, the Asia-Pacific region is expected to emerge as the fastest-growing market throughout the forecast period. The market analysis also encompasses other key regions such as Western Europe, Eastern Europe, South America, the Middle East, and Africa, offering a broad view of global market trends and opportunities.

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