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Seismic Survey Market Segmentation by Service Type (Data Interpretation, Data Processing, and Data Acquisition); by End-Use Vertical (Non-Oil & Gas, and Oil & Gas); and by Technology (2D, 3D, and 4D Imaging) – Global Demand Analysis & Opportunity Outlook 2020-2030

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Extensive insights into the Growth of Seismic Survey Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • May 28th, 2021: Pulse Seismic Inc. announced that it had signed a contract for seismic data licensing worth USD 17 Million. The license is for 3D seismic data of Central Alberta, which is located in a liquids rich fairway in the west shale basin with multi-zone potential.

  • April 08th, 2021: ION Geophysical Corporation announced that it had been selected by the Ministry of Energy and Petroleum for 3D multi-client programs offshore in Kenya.

Global Seismic Survey Market Highlights Over 2020 - 2030

The global seismic survey market is estimated to garner a revenue of USD 11658.2 Million by the end of 2030, by growing with a CAGR of 3.96% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market garnered a revenue of USD 7990.3 Million. The growth of the market can primarily be attributed to the growing demand for energy, majorly oil and gas, from several end-use industries, and the rising oil and gas exploration activities around the globe. Exploration operations are held worldwide to identify fresh oil and gas deposits. By the use of seismic survey technology, oil explorers are highly benefitted as these technologies help in enhancing their search and drive the overall searching process at a faster pace. Seismic survey tools measure the properties of the earth by utilizing physical principles of geophysical survey, such as elastic, gravitational, thermal, magnetic, and electric theories. By utilizing these tools, oil & gas exploration companies are benefitted with detailed images of the sub-surface, which allow detection of both lateral and depth variations. Moreover, different types of seismic surveys allow direct detection of hydrocarbon and delineate stratigraphically.

Seismic Survey Market GraphSeismic surveys are used as an important geophysical survey tool by the oil & gas companies. Backed by the rising demand for oil in the end-use industries, the demand for these survey tools is expected to increase significantly, and in turn, drive the market growth. According to the statistics by the International Energy Agency (IEA), the final consumption of gas/diesel and motor gasoline, increased from 1146515.0 kt and 921686.0 kt respectively in the year 2010, to 1297065.0 kt and 1047841.0 kt respectively in the year 2018. CLICK TO DOWNLOAD SAMPLE REPORT

Consumption of Gas image

Besides this, the growing investments and the supportive investments by the government of various nations to develop the oil & gas sector, along with the rising advancements in seismic survey technologies, are some of the additional factors anticipated to drive the market growth.

Global Seismic Survey Market Regional Synopsis

Regionally, the global seismic survey market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is anticipated to generate the largest revenue of USD 3286.4 Million by the end of 2030, up from a revenue of USD 2070.3 Million in the year 2020. The market in the region is also expected to grow with the highest CAGR of 4.84% during the forecast period. One of the major factors anticipated to drive the growth of the market in the Asia Pacific is the growing focus of the government of nations, such as in China and India, to develop public infrastructure, as the region possesses numerous earthquake prone areas. Moreover, the increasing demand for oil and gas from several countries in the region is also anticipated to drive the market growth in the coming years. Further, the availability of several oil & gas reserves in the region is also expected to drive the market growth. According to the Center for Strategic & International Studies (CSIS) Asia Maritime Transparency Initiative (AMTI) statistics, around 11 Billion barrels of oil and 190 Trillion cubic feet of natural gas in proved and probable reserves are available in South China Sea. The market in the region is segmented by country into China, India, Australia, South East Asia, and the Rest of Asia Pacific. Out of these, the market in China is anticipated to garner the largest revenue of USD 1366.2 Million by the end of 2030, and also grow with the highest CAGR of 5.61% during the forecast period.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges Impacting the Growth of the Global Seismic Survey Market

Growth Drivers

  • Growing Use of Seismic Technology for Oil & Gas Exploration
  • Increasing Advancements in Seismic Survey Technology

Challenges

  • High Cost Associated with Seismic Survey

Global Seismic Survey Market Segmentation Synopsis

The global seismic survey market is segmented by service type into data acquisition, data processing, and data interpretation. Out of these, the data acquisition segment is anticipated to garner the largest revenue of USD 8646.9 Million by the end of 2030, up from a revenue of USD 6073.4 Million in the year 2020. By end-use vertical, the market is segmented into oil & gas, and non-oil & gas. Out of these, the oil & gas segment is expected to hold the highest market share by the end of 2030 and also grow with the highest CAGR of 4% during the forecast period. By technology, the market is segmented into 2D imaging, 3D imaging, and 4D imaging. Out of these, the 3D imaging segment is expected to generate the largest revenue of USD 6857.4 Million by the end of 2030, up from a revenue of USD 4489.0 Million in the year 2020. The segment is also expected to grow with the highest CAGR of 4.44% during the forecast period. The 4D imaging segment, on the other hand, is projected to grow with the second-highest CAGR of 3.98% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global seismic survey market that are included in our report are PT Elnusa Tbk, CGG Group, Fugro N.V., Polarcus Limited, Alphageo (India) Limited, PGS Group, SeaBird Exploration Group, Agile Seismic LLC, ION Geophysical Corporation, Pulse Seismic Inc., and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

Global Seismic Survey Market TOC

  1. Market Definition
    1. Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
    4. Market Size Estimation
  4. Executive Summary – Global Seismic Survey Market
  5. Industry Value Chain Analysis
    1. Raw Material Procurement
    2. Manufacturers
    3. Distributors
    4. End-Users
  6. Market Dynamics
    1. Market Drivers
    2. Market Trends
  7. Key Market Opportunities
  8. Major Roadblocks for the Market Growth
  9. Regulatory and Standards Landscape
  10. Industry Risk Analysis
  11. Impact of COVID-19 on the Global Seismic Survey Market (2020-2030)
    1. Impact on the Overall Market
    2. Impact on the Supply and Demand Chain
    3. Impact on Key Manufacturers
    4. Impact on the End-Use Industries
    5. Impact on the Pricing
  12. Competitive Landscape
    1. Market Share Analysis, 2020
    2. Company Profiles
      1. PT Elnusa Tbk
      2. CGG Group
      3. Fugro N.V.
      4. Polarcus Limited
      5. Alphageo (India) Limited
      6. PGS Group
      7. SeaBird Exploration Group
      8. Agile Seismic LLC
      9. ION Geophysical Corporation
      10. Pulse Seismic Inc.
  13. Comparative Analysis
  14. Global Seismic Survey Market 2020-2030
    1. Market Overview
    2. By Value (USD Million)
  15. Global Siesmic Survey Market – Segmentation Analysis 2020-2030
    1. Service Type
      1. Data Acquisition, 2020-2030F (USD Million)
        1. Land Acquisition, 2020-2030F (USD Million)
        2. Marine Acquisition, 2020-2030F (USD Million)
        3. Airborne Acquisition, 2020-2030F (USD Million)
      2. Data Processing, 2020-2030F (USD Million)
      3. Data Interpretation, 2020-2030F (USD Million)
    2. End-Use Vertical
      1. Oil & Gas, 2020-2030F (USD Million)
      2. Non-Oil & Gas, 2020-2030F (USD Million)
    3. Technology
      1. 2D Imaging, 2020-2030F (USD Million)
      2. 3D Imaging, 2020-2030F (USD Million)
      3. 4D Imaging, 2020-2030F (USD Million)
    4. Region
      1. North America
      2. Europe
      3. Asia Pacific
      4. Latin America
      5. Middle East & Africa
  16. North America Seismic Survey Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Service Type
        1. Data Acquisition, 2020-2030F (USD Million)
          1. Land Acquisition, 2020-2030F (USD Million)
          2. Marine Acquisition, 2020-2030F (USD Million)
          3. Airborne Acquisition, 2020-2030F (USD Million)
        2. Data Processing, 2020-2030F (USD Million)
        3. Data Interpretation, 2020-2030F (USD Million)
      2. End-Use Vertical
        1. Oil & Gas, 2020-2030F (USD Million)
        2. Non-Oil & Gas, 2020-2030F (USD Million)
      3. Technology
        1. 2D Imaging, 2020-2030F (USD Million)
        2. 3D Imaging, 2020-2030F (USD Million)
          1. 4D Imaging, 2020-2030F (USD Million)
      4. Country
        1. United States
        2. Canada
  17. Europe Seismic Survey Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Service Type
      2. End-Use Vertical
      3. Technology
      4. Country
        1. United Kingdom
        2. Norway
        3. Russia
        4. Rest of Europe
  18. Asia Pacific Seismic Survey Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Service Type
      2. End-Use Vertical
      3. Technology
      4. Country
        1. China
        2. India
        3. Australia
        4. South East Asia
        5. Rest of Asia Pacific
  19. Latin America Seismic Survey Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Service Type
      2. End-Use Vertical
      3. Technology
      4. Country
        1. Brazil
        2. Argentina
        3. Mexico
        4. Rest of Latin America
  20. Middle East & Africa Seismic Survey Market
    1. Market Overview
    2. Market Value (USD Million)
    3. Market Segmentation by:
      1. Service Type
      2. End-Use Vertical
      3. Technology
      4. Country
        1. Africa
        2. Middle East
  21. Vessel Analysis

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