A recent report published by Infinium
Global Research on the seismic survey market provides an in-depth analysis of
segments and sub-segments in the global as well as regional seismic survey
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional seismic survey market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast and dollar values of the global seismic survey market. According to
the report, the global seismic survey market is projected to grow at a CAGR of
4.1% over the forecast period of 2019-2025.
The seismic
survey investigates subterranean structure particularly regarding exploration
for petroleum, natural gas, and mineral deposits. The process uses reflected
sound waves to produce a CAT scan of the Earth’s subsurface. The seismic survey
is the most important from all the geophysical exploration methods as it is
capable of detecting large-scale to small-scale subsurface features. It
provides images of local geology that determines the location and size of oil
and gas reservoirs.
The growing
number of exploration and production activities will augment the growth of the
seismic survey market. Oil demand in developing countries has surpassed that of
the wealthy nations. Developing countries account for almost 50% consumption of
the world’s oil. The rising demand for oil in developing countries is a major
factor contributing to the growth of the seismic survey market. Seismic surveys
are used to locate landfills and the shallow reflection seismic technique is
effective for the precise imaging of the landfill’s bottom. Brownfield projects
use seismic technology to identify the quality of the land. In addition, the
rising use of seismic surveys in shale gas exploration boosts the growth of the
seismic survey market. The increasing efforts by oil and gas majors to tap
undiscovered reserves and rise in approvals for seismic testing promote the
demand for seismic surveys. Furthermore, the use of seismic surveys to produce
images of various rock types stimulates the seismic survey market’s growth. On
the other hand, volatile oil prices hamper the growth of the seismic survey
market. Moreover, new oil and gas discoveries create several opportunities for
the market.
North
America is expected to hold the largest share in the global seismic survey
market. The increasing exploration and production activities in North America
contribute to the growth of the seismic survey market in North America. Europe
is anticipated to grow in the global seismic survey market with a healthy CAGR
over the forecast period. The growing exploration activities due to high energy
consumption in Europe augment the growth of the seismic survey market in
Europe. On the other hand, the rising use of seismic surveys owing to the high
demand for oil and gas in Asia-Pacific contributes to the market’s growth in
the Asia-Pacific region. China has an average annual oil consumption growth
rate of 15.8%.
The report on the global seismic
survey market covers segments such as service, and technology. On the basis of
service, the sub-markets include data acquisition, and data processing &
interpretation. On the basis of technology, the sub-markets include 2D, 3D, and
4D.
The report provides profiles of the
companies in the market such as Pulse Seismic, Inc., SeaBird Exploration, PLC,
Polarcus Limited, Schlumberger Limited, Mitcham Industries, Inc., Geospace
Technologies Corporation, Wireless Seismic, Inc., ION Geophysical Corporation,
Fugro N.V., Compagnie Generale de Geophysique (CGG), and other companies.
The report provides deep insights into
the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the seismic survey market. Moreover, the study highlights current
market trends and provides forecast from 2019-2025. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.