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Seismic Survey Market (Service - Data Acquisition, and Data Processing & Interpretation; Technology - 2D, 3D, and 4D): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : November, 2019

  • Rep Id : EIM0274

  • Category : Energy, Mining and Infrastructure

  • Status : Published

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.

 

Market Insight

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%.

 

Segment Covered

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.

 

Companies Profiled:

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.

 

Report Highlights:

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.


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