“Latest Market Overview for Seismic Services Market Research Report 2018-2023 with CAGR XX%
Global Seismic Services Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Seismic Services market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Agile Seismic LLC
- BGP Inc.
- CGG SA
- Fugro NV
- Geokinetics Inc.
- Halliburton Co
- ION Geophysical Corporation
- Petroleum Geo-Services ASA
- Polarcus Limited
- SAExploration Holdings Inc.
- Schlumberger Ltd.
- Seabird Exploration PLC
- Sigma Cubed Inc.
- TGS Nopec Geophysical Co ASA
- WGP Group Ltd.
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Description of Seismic Services Market: Seismic Services are witnessing strong demand from activities ranging from exploration and production to monitoring reservoir life, hydraulic fracturing, waste injection, underground gas storage and mining, and others. In order to cater to growing needs, advanced seismic technologies are evolving, and can provide seismic images with high clarity, and deliver with the utmost speed, efficiency, and HSE sensitivity. The seismic services market is now witnessing a steady growth in the 4D survey technology and multi-client seismic projects across the globe. North America dominated the global market for seismic services, with almost 23% of the market share in 2016, and it is expected to dominate the market during the forecast period.
Quest for Shale Gas – Driving the Seismic Services Market
Globally, tapping the vast unconventional shale gas reserves has emerged as an answer to the growing energy needs. Encouraged by the US shale gas boom, countries across the globe with vast shale reserves, such as Canada, Argentina, China, Brazil, and others, have undertaken encouraging steps to increase oil & gas production from shale formations. However, shale gas extraction remains a complicated process, which requires high-precision seismic survey to make an accurate description of the reservoir characteristics, and distribution pattern of shale gas sweet spots. Furthermore, the need to develop reserves of oil and gas, from shale formation, requires the use of oilfield chemicals for hydraulic fracturing and horizontal drilling processes. This supports the need for seismic services, due to HSE sensitivity as well. Thus, the demand for seismic services is expected to remain high during the forecast period, due to a large number of scheduled shale gas exploration and development activities across the globe.
North America to Dominate the Market Growth
The North American region is expected to dominate the demand for seismic services during the forecast period, due to increasing commitment to ramp up domestic oil & gas production from its unconventional reserves, and the proposed plan to open up 90% of the Outer Continental Shelf, off the US coast. The Middle East & African region is expected to register one of the highest CAGR in the global seismic services market during the forecast period.
Increasing Exploration Activities Driving US Seismic Activities
The exploration and production activities for unconventional resources, such as shale oil/gas and tight gas, are expected to remain high during the forecast period. According to the US Energy Information Administration, the GOM production in 2016 set annual high of 1.6 million barrels per day (b/d), surpassing the previous record set in 2009 by 44,000 b/d. Market conditions improving significantly amid rising oil prices, coupled with the support of a new and favorable administration with pro-energy policies, which understands the strategic importance of a healthy oil & gas industry, exploration and production activities are expected to further supplement the US seismic activities. In 2016, the BOEM released the Proposed Final Program (PFP) for the US Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2017-2022. The program includes 11 lease sales across four planning areas, 10 targeting the Gulf of Mexico and one in the US Arctic region. With US producers focusing on increasing production from existing fields and growing seismic applicability across the field lifecycle, the demand for seismic services is expected to surge further during the forecast period.
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The Global demand for Seismic Services Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Following market aspects are enfolded in Global Seismic Services Market Report:
- A wide summarization of the Global Seismic Services Market.
- The present and forecasted regional market size data based on applications, types, and regions.
- Market trends, drivers and challenges for the Global Seismic Services Market.
- Analysis of company profiles of Top major players functioning in the market.
Seismic Services Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Seismic Services Market players in detail. Seismic Services Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Which are the important factors that are mentioned in the Seismic Services Market report 2023?
- Key Market Dynamics: The Global Seismic Services Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
- Major Growth Prospects:The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
- Key Market Highlights: The report gives us an in-depth Market analysis on some of the Seismic Services Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
Browse Detailed TOC, Tables, Figures, Charts, and Companies Mentioned in this Market Research Report @ https://360researchreports.com/Seismic Services-13100764
The growth of this market worldwide is subjected to various factors; including consumer world-class Seismic Services Market of many Seismic Services Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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