Marine Seismic Equipment and Acquisition Market
Marine Seismic Equipment and Acquisition Market (Equipment Type: Sub-bottom Profilers, Seismic Sensors (Scalar Sensor and Vector Sensor), Geophones and Hydrophones, Streamers (Single Streamer and Multiple Streamers), Air/Water Gun; Technology - 2 Dimensional (2D) Survey, 3 Dimensional (3D) Survey, 4 Dimensional (4D) Survey, and Ocean Bottom Nodes (2-component Nodes, 4-component Nodes, Permanent Seismic Installations, and Others)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Global Marine Seismic Equipment and Acquisition Market: Snapshot
The global marine seismic equipment and acquisition market is highly influenced by the exponential rise in the oil and gas industry as seismic services and various analytical data make a critical part of oil and gas exploration. The increase in oil and gas exploration activities in emerging regions, such as Africa and Latin America, is likely to add to the growth of this market substantially in the near future. The significant rise in multi-client projects is also projected to propel this market in the years to come.
The opportunity in the global marine seismic equipment market stood at US$ 410.6 Mn in 2018. Rising at a CAGR of 4.80% between 2019 and 2027, the market is likely to touch US$ 626.1 Mn by 2027. During the same period of time, the worldwide marine seismic acquisition market is estimated to expand at a CAGR of 5.60%, to increase from US$ 4.2 bn in 2018 to US$ 6.4 bn by the end of 2027.
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3D Survey to Continue its Leading Streak
2 dimensional (2D) survey, 3 dimensional (3D) survey, 4 dimensional (4D) survey, and ocean bottom nodes are the main technologies used for marine seismic acquisitions across the world. The 3D survey led the global market with a share of more than 85% in 2018 and is expected to continue its leading steaks over the forthcoming years, thanks to the continual rise of the end-use industries.
Continued Dominance of Europe in Global Marine Seismic Equipment and Acquisition Market
Europe has been leading the worldwide marine seismic equipment and acquisition market and is expected to remain so over the next few years. The high demand for conventional oil reserves is the key factor behind the growth of this regional market.
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North America, which stood second in 2018, is expected to retain its position in the years to come. The significant growth in the end-use industries, such as mining, construction, and oil and gas, is likely to boost the North America market for marine seismic equipment and acquisition over the forthcoming years.
In near future, the marine seismic equipment and acquisition markets in Latin America and the Middle East and Africa are also expected to register high-paced growth. Latin America is anticipated to emerge as a highly attractive market for marine seismic acquisition due to the increasing demand from exploration and production companies. The Middle East and Africa, on the other hand, is projected to offer lucrative opportunities for the marine seismic equipment vendors on account of the expansion in the oil and gas industry in this region.
Key Players in the Global Marine Seismic Equipment and Acquisition Market
- Agile Seismic LLC
- Seismic Equipment Solution
- Geo Marine Survey Systems
- Polarcus DMCC
- Fugro N.V.
- SeaBird Exploration PLC
- Petroleum Geo-Services (PGS)
- TGS-NOPEC Geophysical Co. ASA
- Mitcham Industries Inc.,
- Compagnie Generale de Geophysique, S.A (CGG)
Are some of the leading players functional in the global market for marine seismic equipment and acquisition.
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Global Marine Seismic Equipment and Acquisition Market: Recent Developments
- On 07th February, 2020, Shearwater GeoServices Holding AS has announced that the company has been awarded a contract by Reliance Industries Ltd for 3D broadband marine seismic acquisition in Bay of Bengal, India. The project is expected to commence in second quarter of 2020. Moreover, the survey would be executed by the Polar Duchess using a Dual source design and would be covering 1,500 sq. km of KG-UDWHP-2018/1 block in the Krishna-Godavari basin.
- In January 2020, SeaBird Exploration announced that the company has received a Letter Of Award for a 3D survey in Asia. The survey is expected to commence at the end of first quarter of 2020 and is likely to be completed in second quarter of this year. The company would be using a third party vessel and equipment for this project, as the company seeks to optimize its capacity against all contract opportunities currently seen in the region.
Marine Seismic Equipment and Acquisition Market – Scope of the Report
Transparency Market Research’s recent report on the global marine seismic equipment and acquisition market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the global marine seismic equipment and acquisition market analyzes the market scenario for the period from 2018 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the global marine seismic equipment and acquisition market also provides data on developments made by important players and stakeholders operating in the market, along with competition analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with market trends and restraints in the competition landscape section.
This study also discusses the underlying trends and the impact of various factors on the global marine seismic equipment and acquisition market along with their influence on evolution of the market
This study also offers Porter’s five forces analysis, value chain analysis, and regulatory scenario of the global marine seismic equipment and acquisition market, in order to elaborate crucial growth strategies of and opportunities for players operating in the market
Key Questions Answered in Global Marine Seismic Equipment and Acquisition Market Report
- How much value does the global marine seismic equipment and acquisition market is expected to reach by the end of the forecast period?
- Which region currently account for the maximum share of the global marine seismic equipment and acquisition market?
- What are the key factors expected to drive the global marine seismic equipment and acquisition market?
- Which region is likely to be a lucrative market for marine seismic equipment and acquisition during the forecast period?
- What are the essential strategies adopted by key players operating in the global marine seismic equipment and acquisition market to expand their geographical presence?
- What are major advancements in the global marine seismic equipment and acquisition market?
This report answers these questions about the global marine seismic equipment and acquisition market, aiding major stakeholders and key players in making the right decisions and strategizing for growth of their business
Global Marine Seismic Equipment and Acquisition Market: Research Methodology
This TMR report on the global marine seismic equipment and acquisition market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competition scenario of the global marine seismic equipment and acquisition market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and the current trends, researchers of the global marine seismic equipment and acquisition market arrived at predictions and estimations, and calculated the market forecast.
This report uses an analytical triangulation method to estimate the numbers of the global marine seismic equipment and acquisition market, by using both bottom-up and top-down approaches
This detailed assessment of the global marine seismic equipment and acquisition market, along with an overview of the market, is provided based on a careful examination of avenues related to the market. Analysts’ conclusions on how the global marine seismic equipment and acquisition market is set to expand are based on carefully vetted primary and secondary sources.
Global Marine Seismic Equipment and Acquisition Market: Segmentation
This report on the global marine seismic equipment and acquisition market provides segmentation of the market based on equipment type, technology, and region