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Advancement in refining technologies enabling the crude oil refiners to process and refine the heaviest and dirtiest of crude has boosted the drilling activities pertaining to heavy oil and oil sands. Oil sands are the sandstones saturated with viscous petroleum (bitumen). In addition to the petroleum sandstones are also enriched with a mixture of sand, water and clay. Rapid industrialization driving the demand for fossil fuels especially in the developing nations such as China, India, Brazil, South Africa and others is the major factor augmenting the drilling activities pertaining to the oil sands.  Bituminous sands or the oil sands are the unconventional sources of fossil fuel with majority of production coming out of Canada and Venezuela. 
 
Segmentation of oil sands market can be done on the basis of technology used for extraction and geography. The two major technologies used for the extraction of oil sands include the Cyclic Steam Stimulation (CSS) and Steam Assisted Gravity Drainage (SAGD). Cyclic steam stimulation process is carried out by injecting the high pressure steam into the oil well for several weeks. Once the oil gets melted due to high pressure and temperature of steam it is pumped out of the well. Steam Assisted Gravity Drainage is a two horizontal well process. Steam Assisted Gravity Drainage is done by injecting the low pressure steam into the reservoir to separate the sand from oil and gas. Oil accumulated at the bottom is the pumped to the surface. Other technologies used for extraction includes Vapor Extraction, Combustion Overhead Gravity Drainage (COGD), Toe to Heal Air Injection and Cold Heavy Oil Production with Sands (CHOPS).
 
Oil sands production is limited with only Canada, Venezuela, and Democratic republic of Congo producing in significant levels. North America is the leading oil sand extraction market. The Alberta oil sands in Canada are one of the largest oil sands reservoirs in the world. Currently, a large percentage of oil production is contributed by the oil sands of Alberta. Venezuela’s heavy oil deposits are mainly concentrated in the Orinoco Belt of the country.  The political turmoil in the country has negatively affected its heavy oil production and Venezuela is now facing an intense competition from Canada for the export of heavy oil to the U.S. Democratic Republic of Congo is produces only a small amount of heavy oil. The heavy oil production in the country was commenced by the Italian oil and gas company ENI in 2008.
 
Increasing energy demands arising as a result of rapid industrialization in emerging economies such as China, India, Brazil and South Africa are the major drivers for the oil sands market. Moreover, the advancement in the refining technology enabling the refiners to process the heaviest of crude oil has also augmented the drilling activities pertaining to the extraction of oil sands. Rigorous efforts by the U.S. government to reduce country’s energy imports (oil sands) coupled with the shale gas boom within the U.S. has negatively affected the oil sands market. 
 
Some of the key players in the global Oil Sands Market include companies such as Suncor Energy, Inc. Royal Dutch Shell plc, Exxon Mobil Corporation, Petróleos de Venezuela, S.A. (PDVSA), Eni S.p.A., Canadian Oil Sands Limited, Alberta Oil Sands Inc. and others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Oil Sands Market

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