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South America Hydrographic Survey Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component and End User

South America Hydrographic Survey Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component and End User

  • April 2021
  • 90 pages
  • ID: 6065036
  • Format: PDF
  • The Insight Partners


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The SAM hydrographic survey market is expected to grow from US$ 9.21 million in 2019 to US$ 14.97 million by 2027; it is estimated to grow at a CAGR of 6.4 % from 2020 to 2027. The increasing demand for energy & power projects across SAM propels the market growth. Developing countries in SAM are likely to offer numerous growth opportunities to the hydrographic survey providers during the forecast period. The growth in industrialization in these economies has led to urbanization, resulting in a rapid increase in energy consumption. Moreover, the demand for energy and power is set to increase with surging household incomes and expanding manufacturing and heavy industries. The number of energy & power projects, including wind and solar projects, is mounting rapidly in various SAM countries. Thus, the rise in demand for energy and power—leading to the escalation in the related projects—especially in developing countries in SAM, is expected to provide numerous profitable business opportunities for the SAM hydrographic survey market players during the forecast period.

In case of COVID-19 outbreak, Brazil has the highest number of confirmed cases, followed by other countries such as Colombia, Argentina, Peru, and Chile.The governments of various countries in SAM are imposing several measures, such as lockdowns, trade bans, and travel restrictions, to protect people and contain the spread of novel coronavirus in the region.

These measures are expected to directly impact the region’s economic growth as the region is witnessing lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America.The shutdown of businesses and halt in ongoing offshore projects due to lockdown have directly affected the growth of the hydrographic survey market in this region.

The sharp decline in business activities and product sales also affected the growth rate of the hydrographic survey in this region in 2020, and it is most likely to continue till Mid-2021.

Based on end user, the oil & gas segment led the SAM hydrographic survey market in 2019.Several SAM countries are witnessing high growth in the oil & gas sector due to rising investments in it.

The oil & gas include pipeline route survey, waterpower, energy, floating wind farm, floating solar plants, and drilling rigs/exploration.The oil & gas sector needs hydrographic data for building, deploying, and operating seismic surveys, well drilling and production platforms, and pipeline facilities with greater accuracy.

In this sector, hydrographic surveying is essential prior to installing or decommissioning offshore structures as well as before the deployment and structural inspection of subsea pipelines, wellheads, and production platforms. The importance of hydrographic surveying as mentioned above is expected to propel its demand from the oil & gas industry during forecast period.

The overall SAM hydrographic survey market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for SAM hydrographic survey market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the SAM hydrographic survey market. Esri, HYPACK / Xylem Inc., OceanWise Limited, Quality Positioning Services B.V. (QPS), and Teledyne Marine (Teledyne Technologies Incorporated) are among the players operating in the market.

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