Global Seismic Survey Market to Display Bright Growth by 2021, Driven By Positive Developments in Oil Prices

Published on : Jun 22, 2017

Albany, New York, June 22, 2017: Due to the rising number of oil and gas exploration activities across the world to locate new gas and oil reserves, the demand for seismic survey technology is rising significantly from exploration companies. The global market currently is trending with vessel reactivation, sprouting contract seismic market, and increased converted contracts demand, finds the latest study which has been published to the online repository of Market Research Hub (MRH). The report is titled as “Global Seismic Survey Market: Industry Analysis & Outlook (2017-2021)”, which is a comprehensive synopsis of the growth trajectory and future growth prospects arising for market players.

In recent years, seismic surveys have become a major tool of exploration for both onshore and offshore. Seismic data is collected is mainly in 2D, 3D, and 4D forms. As per the research key findings, the global seismic market saw a decline post-2013 due to which the market suffered from heavy debts, decreased demand and slashed exploration budgets. However, at present, the market has started to finally recover from the slump and is expected to register moderate growth in the coming few years. Most companies in the business are taking to the efforts of earning profitability and rationalizing costs instead of shelling out more capital on the development of newer forms of seismic survey.

The authors of the global seismic survey market report have employed exhaustive primary and secondary research for exploring the key factors of the industry, including the competitive landscape. Initially, the report covers the market overview of seismic survey, together with its type, phases, seismic acquisition; and analysis of multi-client seismic and contract seismic market. The research further describes the seismic wave research forms, which is an essential part of the oil exploration and production industry. These waves also help in examining the ability to understand and foresee earthquakes and tsunamis.

Moving further, an in-depth analysis of the trends prevalent in the global seismic survey market along with the dynamics that are anticipated to positively or negatively impact the growth of the market. According to the report, the global seismic survey market growth will mainly be driven by factors such as positive development in oil prices, increasing activity level both offshore & onshore and strong regaining ocean seismic market. However, the market will be confronted by elderly skilled human resource. Also, the competition of the market will be largely controlled by top firms as the entry to the market is very difficult due to numerous barriers.

In the later part, major companies are profiled together with their business overview, financial overview and key business strategies. They are CGG SA, Petroleum Geo-Services (PGS), TGS and Polarcus Ltd.

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