Global Reservoir Simulation Software Industry

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Market Overview

of Global Reservoir Simulation Software market:
According to our latest research, the global Reservoir Simulation Software market looks promising in the next 5 years. As of 2022, the global Reservoir Simulation Software market was estimated at USD 1384.7 million, and it’s anticipated to reach USD 2688.62 million in 2028, with a CAGR of 11.69% during the forecast years.

Reservoir simulation is an area of reservoir engineering in which computer models are used to predict the flow of fluids (typically, oil, water, and gas) through porous media. Reservoir Simulation Software is a kind of software used to simulate the migration, physical and chemical processes of underground oil, gas and water under various complex geological conditions. In the reservoir simulations usually, the oil and gas companies depend on simulation and modeling software to produce the best representation of reservoirs of oil and gas, all the usage of equipment as well as resistivity and environmental effects. That software has a lot of benefits like they help in predicting production results and evaluate the risk level.

Consumption Demand for Oil Supports Reservoir Simulation Software Market Growth
Reservoir Simulation Software can be used in the exploration, development and production of petroleum. According to data released by Statista, in 2021, global oil consumption will reach about 94.1 million barrels per day. The figure was up more than 6 percent from the previous year, when global oil consumption fell due to pandemic-imposed flow restrictions, which, in turn, led to lower demand for transportation fuels. Aside from the financial crisis and the 2020 coronavirus pandemic, oil consumption has been increasing every year since 1998. With the general decline of high-quality conventional oil resources, Reservoir Simulation Software has received increasing attention.

Rising Global Geopolitical Unrest Is Expected To Drive Reservoir Simulation Software Market
Global geopolitical turmoil intensifies. In 2022, many oil-producing countries will usher in an election year, with frequent supply disruptions. At the beginning of the year, Libya, Nigeria, Ecuador, Turkey and other countries experienced sudden supply interruptions one after another, which tightened the market supply. Since the beginning of the year, the situation in Russia and Ukraine has affected the market nerves, the two sides have continued to intensify war warnings, and geopolitical tensions have continued to bring a risk premium to oil prices. In addition, factors such as the tension between China and Taiwan, trade issues between China and the United States, and the continuation of the Russia-Ukraine war have promoted the exploration of oil resources in various countries. Oil and gas exploration, and the ever-increasing amount of subsurface data that accompanies exploration, has given rise to the demand for Reservoir Simulation Software with the ability to effectively handle, analyze, and visualize these data in their precise geospatial position.

Region Overview:
In 2021, the share of the Reservoir Simulation Software market in Middle East and Africa stood at 24.65%.

Company Overview:
Emerson Electric Co. engages in the provision of measurement and analytical instrumentation; industrial valves & equipment; process control systems, tools & appliance solutions for customers in a range of industrial, commercial and consumer markets. It operates through the following business segments: Automation Solutions and Commercial & Residential Solutions. The Automation Solutions segment offers products; software and technology; and engineering, project management, consulting services and integrated manufacturing solutions for precision measurement, control, monitoring, asset optimization, and safety and reliability of oil and gas reservoirs, manufacturing operations, and plants that process or treats various items. The Climate Technologies segment provides products and services for many areas of the climate control industry, including residential heating and cooling, commercial air conditioning, and commercial and industrial refrigeration. The Commercial & Residential Solutions segment sells tools for professionals and homeowners and appliance solutions, such as food waste disposers, ceiling fans, lighting, sensing and protection devices.

Schlumberger Ltd (Schlumberger) provides technology for reservoir characterization, production, drilling and processing to the oil and gas industry. The company also supplies products and services to the industry, from exploration through production and integrated pipeline solutions for hydrocarbon recovery.

Halliburton Company provides energy and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

Roxar (Emerson) SCHLUMBERGER (ECLIPSE, INTERSECT), Halliburton were the top 3 players in the Reservoir Simulation Software market in 2022, taking up a market share of 28.26% together.

Segmentation Overview:
Cloud-based
Cloud-based is a term used to define services and solutions that are hosted on the cloud. The major advantage of these services is that they can be accessed from any location through the internet. Cloud-based applications offer benefits such as increased storage space, easy access to data, and real-time sharing of information which increases productivity.

On-premise
On-premise is a term used for computer software or hardware installed on the customer's own equipment.

By type, Cloud-Based segment accounted for the largest share of market in 2021.

Application Overview:
NOCs
NOCs are oil companies owned and operated by the government of the country they are in. Many large oil-producing countries have NOCs that control most or all of the oil industry activities in their domestic markets. NOCs represent state-owned oil companies like Saudi Aramco, Rosneft or KOC.

IOCs
IOCs are often international oil companies. Major integrated companies are defined as typically having market capitalization of $10 billion to $100 billion. IOCs are Western oil giants like BP, Royal Dutch Shell and Exxon Mobil.

Small Size
Small Size generally refers to small oil service companies, research institutions, etc. The business of such companies is relatively single, with few business operation links, and the company's capital flow is relatively concentrated.

Independent
Independent companies (Independents) refer to Oil & Gas and Petrochemical operators that are neither international oil companies (IOCs) nor national oil companies (NOCs). These independent companies were established by expert geologists, process specialists or financial investors. Independents include Apache, DNO, Consol, Anadarko, Samudra, etc.

By application, the NOCs segment occupied the biggest share from 2017 to 2022.

This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Reservoir Simulation Software market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.

Key Takeaways from the Global Reservoir Simulation Software Market Report:
Market Size Estimates: Reservoir Simulation Software market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Reservoir Simulation Software market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Reservoir Simulation Software market
Segment Market Analysis: Reservoir Simulation Software market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Reservoir Simulation Software market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Reservoir Simulation Software Market: Revenue and sales volume of major countries in each region
Reservoir Simulation Software Market

Competitive Landscape

and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Reservoir Simulation Software market in major regions.
Reservoir Simulation Software Industry Value Chain: Reservoir Simulation Software market raw materials & suppliers, manufacturing process, distributors, downstream customers
Reservoir Simulation Software Industry News, Policies & Regulations

Key players in the global Reservoir Simulation Software market are covered in Chapter 12:
Computer Modelling Group Ltd.
Baker Hughes (JewelSuite)
Gemini Solutions
Stone Ridge Technology (Echelon)
CGG
SCHLUMBERGER (ECLIPSE, INTERSECT)
Rock Flow Dynamics (tNavigator)
AspenTech
PlanoResearch Corporation
Halliburton
Roxar (Emerson)
Beicip-Franlab

In Chapter 2 and Chapter 15.1, based on types, the Reservoir Simulation Software market from 2018 to 2028 is primarily split into:
Cloud-Based
On-Premises

In Chapter 3 and Chapter 15.2, based on applications, the Reservoir Simulation Software market from 2018 to 2028 covers:
NOCs
IOCs
Small Size
Independents

Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others

The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.

In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.

Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:

Chapter 1 starts the report with an overview of the Reservoir Simulation Software market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.

Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.

Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.

Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.

Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.

Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.

Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.

Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.

Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.

Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.

Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.