Global Seismic Equipment and Acquisitions Market 2018-2022
About Seismic Equipment and Acquisitions
The global seismic equipment and acquisitions market plays a significant role in the global upstream oil and gas market for the identification of hydrocarbon reserves in the earth crust. Post identification, E&P activities are started for the extraction of non- renewable resources from the reserve.
Technavio’s analysts forecast the global seismic equipment and acquisitions market to grow at a CAGR of 4.4% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global seismic equipment and acquisitions market for 2018-2022. To calculate the market size, the report considers the revenue generated from the use seismic equipment and acquisitions in different service type
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Seismic Equipment and Acquisitions Market 2018-2022
Technavio recognizes the following companies as the key players in the global seismic equipment and acquisitions market: CGG, Dawson Geophysical, ION Geophysical, PGS, Polarcus, SAExploration, TGS.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the use of METIS for seismic analysis. The innovation for improving the geographical imaging of complex topographies lead to the development of METIS, which helps in solving one of the most significant problems faced in oil and gas E&P activities.”
According to the report, one of the major drivers for this market is the rise in oil and gas consumption. The rise in requirement of seismic equipment and acquisition in the oil and gas industry has been due to rise hydrocarbon reserves for exploration projects.
Further, the report states that one of the major factors hindering the growth of this market is the decreasing investment in oil and gas industry. The investments in the electricity sector overtook the oil and gas investments. The decrease in investments has been seen except for the US which is investing in unconventional gas extractions such as shale and tight gas.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook