Land Seismic Equipment & Acquisition Market: Overview

Land seismic equipment are used to acquire seismic data from onshore production of oil and gas. The equipment consist of vibrator source which is used to create shock waves that traverse through the rocks below the surface of the earth. The shock waves that reflect off the subsurface rock formations and back to the surface are recorded using geophones. Transmitters or cables are used to transmit information from the geophones to the recorder truck. Seismic waves indicate the geological nature of the area surveyed and the possibility of presence of oil or gas reserves. The reduction in oil prices in 2014 was due to a sharp decline in land seismic acquisition contract awards and capital expenditure (CAPEX) on equipment.

Land Seismic Equipment & Acquisition Market: Market Demand

Rise in global demand for oil & gas in various industries such as the power industry is one of the major drivers of the global land seismic equipment & acquisition market. Organization of the Petroleum Exporting Countries (OPEC) countries need to increase their oil production by drilling new wells to meet the rising demand for fuel. Most of the oil-producing countries require oil companies to explore and drill oil fields to produce fuel from greenfield wells to cater to the high demand for fuel across globe. New drilling projects are anticipated to increase the demand for oilfield services, which is expected to fuel the global land seismic equipment & acquisition market during the forecast period. Digitization of oil fields is projected to boost the global land seismic equipment & acquisition market in the near future. Introduction of advanced technologies such as predictive maintenance and remote monitoring are expected to improve the cost-effectiveness and improve visibility and operations.

Improved receiver sampling along with high productivity and wide broadband signal in the source domain are the geophysical domains. With the increase in volumes of data being recorded in the field to see some novel solutions emerging which deal with automation, remote analysis, and data management. The geophysical domain focuses on technologies such as the internet of things migrating into industry to resist challenges associated with deploying a complex operation of personnel, vehicles and equipment in remote locations.

Land Seismic Equipment & Acquisition Market: Key Segments

The global land seismic equipment & acquisition market can be segmented based on equipment, services, and region. In terms of equipment, the global land seismic equipment & acquisition market can be divide into geophones, vibration sources, and cables. Based on services, the market can be segregated into land seismic acquisition, seismic reservoir characterization, geophysical processing & imaging, survey design and modeling, seismic for unconventional resources, borehole seismic, geographic software, and others. Seismic reservoir characterization is for modeling the sub-surface. It is a fully integrated set of services to define the reservoir structure and properties and build an accurate models of the subsurface. However, the survey design and modeling segment is used to achieve the best return on the investment in seismic acquisition.

Land Seismic Equipment & Acquisition Market: Regional Outlook

Based on region, the global land seismic equipment & acquisition market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific held a major share of the global land seismic equipment & acquisition market due to high no of wells drilled in the region in 2016. China is a key country in Asia Pacific region for global land seismic equipment & acquisition market augmented to drill about 15,800 wells in 2016.  Europe is another key region driving the global land seismic equipment & acquisition market due to the large number of wells drill (9,448) in 2016. Europe is followed by North America, Middle East & Africa, and Latin America.

The Middle East & Africa is a hub for most of the technological developments in this industry. In an era of lower price oil and growth in gas demand, onshore exploration should continue to have a reasonable future. Onshore operations are generally at the lower end of the cost equation as compared to deep-water operations. This, in turn, is expected to boost the global land seismic equipment & acquisition market during the forecast period. However, rise in in demand for technology development and lower costs creates pressure on equipment manufacturers struggling after several lean years. These combat requires collaboration among competing manufacturers and external technology providers with deep understanding of oil companies and seismic contractor requirements.

Land Seismic Equipment & Acquisition Market: Key Players

Key players operating in the global land seismic equipment & acquisition market include Schlumberger Limited, Acoustic Geophysical Services (AGS), Asian Oilfield Services Limited, Saudi Aramco, Royal Dutch Shell, Sinopec, Total, Advent Oilfield Services, and Tesla Exploration Ltd. 

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.

3. Actionable Results

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?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Land Seismic Equipment Acquisition Market