global-seismic-services-market Global Seismic Services Market

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Global Seismic Services Market

  • Published Date: 17 Feb 2018
  • Number of Pages: 220
  • Category: Energy and Utilities
  • Country: Global
Micro seismic technology is used to find information about oil and natural gas reservoirs present in difficult terrains. Drilling for oil is an expensive gamble and hence companies try to be as sure as they can. So, seismic services have become a major tool of exploration whether it be onshore or offshore. Oil and gas companies use this information to find out potential locations of petroleum reservoirs. Using such services reduces cost and risk while increasing safety at the same time.
The seismic data collected is mainly in 2D, 3D, and 4D forms. Currently, the international seismic service market is witnessing a rise in the 4D seismic services technology. Along with length, breadth, and width, a 4D form also takes into account an additional component of time. As a result, this technology has seen a rise in the exploration and production domain of the oil and gas sector.

End-user/Technology

The end user of these services are the oil and gas companies that are constantly looking for different petroleum reservoirs. Seismic wave technology is used when probing for reservoirs. A seismic wave is generated underneath the earths surface, which is later picked up by sensors called "geophones" as the waves bounce off from the subsurface formations. This rough signal is then filtered and processed to edit out background noise and produce a clean, sharp final signal which gives us the required information.

Market Dynamics

The global seismic market incurred heavy losses post 2013 due to which the market suffered from decreased demands and heavy debts. But the market has recovered from the downturn and is expected to make moderate profits in the upcoming years. The seismic services market has been estimated at USD XXXX million in 2016 and is projected to reach XXXX million by the end of the year 2021. The major trend driving the seismic research market is the continuous increase in demand for petroleum and energy worldwide. This has forced companies to look for more reservoirs and hence have increased the demand for seismic services market. Growing applications of seismic technologies in the gas and oil sector is also a reason for the rise in seismic services.
However, the market is challenged by the ever-present uncertainty in the oil market. Ageing skilled human resource, increase in environmental awareness and decrease in CapEx spending by major production and exploration players is also a concern. Also, the competition in this segment will always be dominated by the big firms because of the high entry barriers.

Market Segmentation

The market is segmented either by the type of technology used or geography. In the case of type of technology used, the market is segmented into 2D survey, 3D survey, 4D survey, and ocean bottom nodes. On the basis of geography, the market is segmented into North America, Asia Pacific, Europe and rest of the world.

Regional/Geographic Analysis

North America is leading the market for seismic service activities with the USA being the major market. This market is primarily driven by increasing offshore exploration in Gulf of Mexica and the Shale boom. Asia Pacific and Europe are behind the USA but are catching at a fast pace due to increased focus towards untraditional oil and gas reserves.

Opportunities

With the rise in demand for energy and petroleum year after year, seismic services market is expected to grow over the upcoming years. Since this sector is mainly dependent on technology, so the opportunities are immense.

Key Players
Some of the major players in the market are Polarcus, TGS, CGG SA, and PGS.

Report Contents:

> Market segments
> Market Drivers, Restraints and Opportunities
> Market Size & Forecast 2016 to 2022
> Supply & Demand Value Chain
> Market - Current Trends
> Competition & Major Companies
> Technology and R&D Status
> Porters Five Force Analysis
> Strategic and Critical Success Factor Analysis of Key Players

Regional Analysis:

> North America

>> US and Canada


> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America


> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe


> Eastern Europe

>> Russia
>> Poland
>> Rest of Eastern Europe


> Asia Pacific

>> China
>> India
>> Japan
>> Australia and New Zealand
>> Rest of Asia Pacific


> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa



This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Report Highlights:

> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
> Consumer and Pricing Analysis
> Market dynamics of the industry
> Market Segmentation
> Estimated Market Sizing in terms of volume and value
> Recent trends in Market and impact
> Research Status and Technology Overview
> Extensive Industry Structure Coverage

Publisher Name : Market Litmus

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