Seismic Survey Market: Global Forecast until 2022

"The seismic survey market is forecasted to reach ~$9.3B by 2022"

The seismic survey market is forecasted to grow from an estimated ~$7.5B in 2017 to a projected ~$9.3B by 2022. The main driving factors for the increase ot the seismic survey market are the industry demand for seismic technology in brownfield projects and the use of seismic technology in shale gas exploration.

The reduction in market investments and budgets for exploration and production due to the crash of oil prices would be a restraint for the seismic survey market.

"The data processing and interpretation market would grow at a faster pace during the estimate period"

The industry for data processing and interpretation is anticipated to grow at a significant pace during the outlook period. The sector demand for data processing and interpretation is growing as oil & gas companies utilize these software services to explore new hydrocarbon fields. The advances in technology are useful to operators and oil & gas service firms during the exploration of mature oilfields. Oil & gas companies are currently investing in fields that have already been explored with the help of data processing and interpretation. Therefore, the market demand for data processing and interpretation increases as oil & gas companies begin exploring brownfields projects.

"The African market is the quickest-increasing seismic survey market"

There are untapped reserves of oil & gas in African continent. Oil & gas companies are investing in economical reserves due to the slump in oil prices. The industry demand for seismic surveys is anticipated to grow as unconventional reserves are explored. A majority of the oil production in African continent takes place in Nigeria, Egypt (EG), Angola, and Algeria.

Breakdown of Primaries

Comprehensive interviews have been managed with several key industry participants, subject-matter experts, C-suite executives of key industry players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitate info as well as assess future industry prospects. The classification of primaries interviews is like:

By Company Type: Tier 1 55.0 percent, Tier 2 20.0 percent, and Tier 3 25.0 percent

By Designation: C-Level- 75.0 percent and Manger Level- 25.0 percent

By area: North america (NA)- 15%, Europe- 20.0 percent, Asia-pac- 40%, Middle East- 10.0 percent, South America- 10.0 percent, and Africa- 5.0 percent

Note: The 1/3 of the companies, the tiers of the corporations has been defined on the basis of their final revenue as of 2016: Tier 1 => $10.0B, Tier 2 = From $1.0B to $10.0B, and Tier 3 =< $1.0B

The industry's leading players have been profiled with their new developments and other strategic activities. These include Compagnie Generale de Geophysique, Petroleum Geo-Services, Fugro N.V., Polarcus Limited, Tomlinson Geophysical Services -Norwegian Petroleum Exploration Consultants Geophysical Company, SeaBird Exploration, PLC, Agile Seismic, Limited liability company, New Resolution Geophysics, Ion Geophysical Corporation, Geokinetics, Schlumberger Limited-WesternGeco, Pulse Seismic, Incorporated, SA Exploration Holding, Incorporated, Dawson Geophysical Company, Alpine Ocean Seismic Survey, Incorporated, Geospace Technologies Corporation, and Global Geophysical Services, Incorporated.

Segment Research

The seismic survey market segments included in this report contain data acquisition, data processing, and data interpretation services and 2D, 3D, and 4D technology. The market research aims at evaluating the size and future increase potential of the market across different areas. Moreover, the study also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, business overviews, and recent evolutions.

Note: Geophysical equipment has not been considered in this analysis

Why acquire this industry report?

1. The analysis determines and addresses the top industries for seismic surveys, which is useful for oil & gas exploration activities.

2. The market research includes analyses of the main sectors for seismic surveys. It also analyzes historical forecasts and estimations for 2022, assisting in strategic decision-making.

3. It presents the competition by analyzing recent market developments including top contracts & strategic agreements, recent product launches, business developments, and mergers & acquisitions by the main overall market actors. This helps understand the strategies of the competition and plan respective initiatives.