Seismic Survey Equipment Market – Global Analysis and Forecast (2023- 2029)

Seismic Survey Equipment Market was worth US$ 1.56 Bn. in 2022 and total revenue is expected to grow at a rate of 4.60 % CAGR from 2023 to 2029, reaching almost US$ 2.14 Bn. in 2029.

Essential to improving survey efficiency, demand for right supplies according to the World Economic Forum will boost the market growth. Initially in June 2014, seismic survey equipment market has experienced a prolonged slump that results into increase in oil prices. These have an impact on major oil companies with a steady rise in exploration and production (E&P) activities. Increasing in exploration and production (E&P) activities will result to drive seismic surveys.To know about the Research Methodology:-Request Free Sample Report

Seismic survey equipment is used to carry seismic survey means to study subsurface properties that give a scene of various minerals and size of oil and gas reservoirs. Rise in Multi-client Projects and Increasing Oil Exploration in Africa and Latin America will drive the seismic survey equipment market. While Decrease in seismic survey contracts and Sluggish demand from the oil industry in the Middle East and Europe will restrain the market growth to the certain extent. Also, end-use industries such as construction, oil and gas and mining will significantly boost the Seismic Survey Equipment Market growth.

However, the launching of new product model has become a key trend in survey equipment market that bins to gain competitive players over peers. Also, geophysical survey spaces expand their geographical footprint and increase their client base with proper strategic partnerships with peers.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Seismic Survey Equipment Market is majorly segmented by the By Component, By Technology, By Location, by industrial application and region wise. On the basis of the component; hardware, software, and services are the sub-segmented. Hardware detectors for seismic survey include hydrophones, geophones, and other sources. Thus seismic sources mainly include air gun, Vibroseis, and dynamite to generate the seismic waves. Usually reflected seismic waves are recorded by the hardware detectors which further processes the information to interpret about the sub-surface. Thus, hardware sub-segment is estimated to gain highest CAGR over the forecasting period.
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Global Seismic Survey Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.56 Bn.


Forecast Period 2023 to 2029 CAGR:
4.6%
Market Size in 2029:
US $ 2.14 Bn.


 Segments Covered:
by Component
Hardware
Software


by Technology
2D imaging
3D imaging
4D imaging


by Location
Onshore
Offshore


by Industrial Application
Oil & gas
Others (Mining, construction, energy, among others)



Seismic Survey Equipment Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Seismic Survey Equipment Market, Key Players are
1. CGG, Mitcham Industries, Inc.
2. Geospace Technologies Corporation
3. Wireless Seismic, Inc., BGP Inc.
4. China National Petroleum Corporation
5. Schlumberger Limited
Frequently Asked Questions:

1. Which region has the largest share in Global Seismic Survey Equipment Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Seismic Survey Equipment Market?
Ans: The Global Seismic Survey Equipment Market is growing at a CAGR of 4.6% during forecasting period 2023-2029.

3. What is scope of the Global Seismic Survey Equipment market report?
Ans: Global Seismic Survey Equipment Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Seismic Survey Equipment market?
Ans: The important key players in the Global Seismic Survey Equipment Market are – CGG, Mitcham Industries, Inc., Geospace Technologies Corporation, Wireless Seismic, Inc., BGP Inc., China National Petroleum Corporation, Schlumberger Limited, Fairfield Nodal, ION Geophysical Corporation, BGP, DMT, Geokinetics, Geospace Technologies, IG Seismic Service, INOVA, International Seismic, ION Geophysical, Mitcham Industries, PARAGON GEOPHYSICAL SERVICES, Polaris Seismic International, Schlumberger, Terraseis, Terrex Seismic, Wireless Seismic, CGG, Dawson Geophysical\Geometric, IG Seismic Services, SAExploration, and

5. What is the study period of this market?
Ans: The Global  Market is studied from 2022 to 2029.  
was worth US$ 1.56 Bn. in 2022 and total revenue is expected to grow at a rate of 4.60 % CAGR from 2023 to 2029, reaching almost US$ 2.14 Bn. in 2029. Essential to improving survey efficiency, demand for right supplies according to the World Economic Forum will boost the market growth. Initially in June 2014, seismic survey equipment market has experienced a prolonged slump that results into increase in oil prices. These have an impact on major oil companies with a steady rise in exploration and production (E&P) activities. Increasing in exploration and production (E&P) activities will result to drive seismic surveys.  Seismic survey equipment is used to carry seismic survey means to study subsurface properties that give a scene of various minerals and size of oil and gas reservoirs. Rise in Multi-client Projects and Increasing Oil Exploration in Africa and Latin America will drive the seismic survey equipment market. While Decrease in seismic survey contracts and Sluggish demand from the oil industry in the Middle East and Europe will restrain the market growth to the certain extent. Also, end-use industries such as construction, oil and gas and mining will significantly boost the Seismic Survey Equipment Market growth. However, the launching of new product model has become a key trend in survey equipment market that bins to gain competitive players over peers. Also, geophysical survey spaces expand their geographical footprint and increase their client base with proper strategic partnerships with peers. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. Seismic Survey Equipment Market is majorly segmented by the By Component, By Technology, By Location, by industrial application and region wise. On the basis of the component; hardware, software, and services are the sub-segmented. Hardware detectors for seismic survey include hydrophones, geophones, and other sources. Thus seismic sources mainly include air gun, Vibroseis, and dynamite to generate the seismic waves. Usually reflected seismic waves are recorded by the hardware detectors which further processes the information to interpret about the sub-surface. Thus, hardware sub-segment is estimated to gain highest CAGR over the forecasting period.  Seismic Survey Equipment technologies are sub-segmented into 2D imaging, 3D imaging, and 4D imaging. Among these, 4D imaging is expected to expand the highest CAGR during the forecasting period. Also, the 3D segment was the topmost revenue generating segment in 2022. As 3D imaging layout grid pattern from detectors and seismic sources is much easier to interpret and understand. Basically, Seismic Surveys are conducted on onshore and offshore. Segment offshore is expected to gain high CAGR during the forecasting period. As the offshore seismic survey is carried out in marine areas. According to 2022, the Denmark-based geophysical solution provides US$ 25 Mn contract for the data acquisition of ocean bottom in the Middle East region. Also, there are still many large areas underwater remain unexplored for the production of oil & gas. Thus investment in offshore seismic surveys will be extended towards growth. Usually on the basics of industrial end-user, Seismic Survey Equipment Market is sub-segmented into oil & gas and others such as Mining, construction, energy. Generally, in 2022, oil and gas segment for consumer seismic survey equipment share the highest revenue i.e. around 90% during the forecasting period. North American countries are leading the Seismic Survey Equipment Market and further followed by Europe till 2022. Increase in oil exploration and production activity in the region such as North America is expected to gain the largest CAGR during the forecasting period. According to 2022 in North America, International Energy Agency (IEA) produce 10mn barrels of oil per day. Also, the Asia-Pacific region gain the market by increasing oil and gas exploration activates viz. majorly driven by China. Some important key players which mainly operate in the seismic survey equipment. They are CGG Schlumberger Limited, Geospace Technologies Corporation, Wireless Seismic, Inc., BGP Inc., China National Petroleum Corporation, Mitcham Industries Inc., and Fairfield Nodal, ION Geophysical Corporation. Detailed company profiling such as financials, SWOT analysis, business strategies, recent developments, and other strategic information develop these key players to the certain extent. Thus Production capacity expansion, brand portfolio expansion, mergers, collaborations and acquisitions are the key strategies adopted by Seismic Survey Equipment Market industries. The objective of the report is to present comprehensive analysis Seismic Survey Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Seismic Survey Equipment Market dynamics, structure by analyzing the market segments, and project the Seismic Survey Equipment Market size. Clear representation of competitive analysis of key player by type, price, financial position, product portfolio, growth strategies, and regional presence in the Seismic Survey Equipment Market make the report investor’s guide.(United States, Canada and Mexico)(UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)(China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)(South Africa, GCC, Egypt, Nigeria and Rest of ME&A)(Brazil, Argentina Rest of South America)1. CGG, Mitcham Industries, Inc. 2. Geospace Technologies Corporation 3. Wireless Seismic, Inc., BGP Inc. 4. China National Petroleum Corporation 5. Schlumberger Limited 6.Fairfield Nodal 7. ION Geophysical Corporation 8. BGP 9. DMT 10. Geokinetics 11. Geospace Technologies 12. IG Seismic Service 13. INOVA 14. International Seismic 15. ION Geophysical 16. Mitcham Industries 17. PARAGON GEOPHYSICAL SERVICES 18. Polaris Seismic International 19. Schlumberger 20. Terraseis 21. Terrex Seismic 22. Wireless Seismic 23. CGG 24. Dawson Geophysical\Geometric 25. IG Seismic Services 26. SAExplorationNorth America region held the highest share in 2022.The Global Seismic Survey Equipment Market is growing at a CAGR of 4.6% during forecasting period 2023-2029.Global Seismic Survey Equipment Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.The important key players in the Global Seismic Survey Equipment Market are – CGG, Mitcham Industries, Inc., Geospace Technologies Corporation, Wireless Seismic, Inc., BGP Inc., China National Petroleum Corporation, Schlumberger Limited, Fairfield Nodal, ION Geophysical Corporation, BGP, DMT, Geokinetics, Geospace Technologies, IG Seismic Service, INOVA, International Seismic, ION Geophysical, Mitcham Industries, PARAGON GEOPHYSICAL SERVICES, Polaris Seismic International, Schlumberger, Terraseis, Terrex Seismic, Wireless Seismic, CGG, Dawson Geophysical\Geometric, IG Seismic Services, SAExploration, andThe Global Market is studied from 2022 to 2029.