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Global Seismic Services Market: By Service: Data Acquisition, Data Processing and Interpretation; By Location of Deployment: Onshore, Offshore; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments
Global Seismic Services Market Outlook
The global seismic services market is expected to grow at a CAGR of 5.20% in the forecast period of 2022-2027.
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Data Acquisition, Processing, and Interpretation to Account for a Substantial Market Share of the Seismic Services Industry
The heightened demand for seismic services in the oil and gas industry is projected to bolster the market growth in the forecast period. In this regard, the demand for data acquisition and accurate processing and interpretation is witnessing a surge to reduce the risk of accidents during boring processes. For instance, the Indian Ministry of Petroleum and Natural Gas in its 2021 report stated that the seismic survey for data acquisition, processing and interpretation achieved a success of 93.5%. In addition, the rising demand for oil and natural gas for various applications in industrial and transportation sector is resulting in increased government efforts towards the promotion of seismic services and surveys, which is estimated to support the market growth.
The Asia Pacific Region to Hold a Significant Market Share of the Seismic Services Industry
The Asia Pacific Region is estimated to possess a significant share of the seismic services industry. This can be attributed to the rising demand for oil and natural gas in the region. The Annual report by the Ministry of Petroleum and Natural Gas of India stated the increase in seismic surveys and activities done in Northeastern region of the country. In addition, the rapid technological advancements in the development of seismic imaging technology and data processing are estimated to aid the market for seismic services.
Seismic Services: Market Segmentation
Seismic services deal with the extraction of oil and natural gas under the Earth surface for processing and market use. In this regard, seismic survey is an efficient method conducted to find large scale and small-scale deposits. These help scientists to see under the ocean and locate the natural reservoirs. They are environmentally friendly with little to no impact on the environment.
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By service, the market is divided into:
- Data Acquisition
- Data Processing and Interpretation
Based on the location of deployment, the market can be segregated into:
- Onshore
- Offshore
The regional markets for seismic services can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Environmental Consciousness and Advancements in Technology to Bolster the Market Growth of Seismic Services
The reduced risk factors and low environmental impact caused by seismic services are projected to propel the growth of the industry in the forecast period. In addition, the use of geophysical technologies helps in the accurate detection of the oil and natural gas reservoirs, which is expected to bolster the market growth. Furthermore, the increased deployment of seismic surveys in the construction industry is also projected to support the market growth in the forecast period.
Key Industry Players in the Global Seismic Services Market
The report gives a detailed analysis of the following key players in the global seismic services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Schlumberger Limited
- CGG S.A.
- PGS ASA
- TGS-NOPEC Geophysical Company ASA
- Halliburton Company
- Furgo N.V.
- Polarcus Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Service, Location of Deployment, Region |
| Breakup by Service | Data Acquisition, Data Processing and Interpretation |
| Breakup by Location of Deployment | Onshore, Offshore |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Schlumberger Limited, CGG S.A., PGS ASA, TGS-NOPEC Geophysical Company ASA, Halliburton Company, Furgo N.V., Polarcus Limited, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Seismic Services Market Analysis
8.1 Key Industry Highlights
8.2 Global Seismic Services Historical Market (2017-2021)
8.3 Global Seismic Services Market Forecast (2022-2027)
8.4 Global Seismic Services Market by Service
8.4.1 Data Acquisition
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Data Processing and Interpretation
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.5 Global Seismic Services Market by Location of Deployment
8.5.1 Onshore
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Offshore
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Global Seismic Services Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Schlumberger Limited
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 CGG S.A.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 PGS ASA
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 TGS-NOPEC Geophysical Company ASA
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Halliburton Company
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Furgo N.V.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Polarcus Limited
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Seismic Services Market: Key Industry Highlights, 2017 and 2027
2. Global Seismic Services Historical Market: Breakup by Service (USD Million), 2017-2021
3. Global Seismic Services Market Forecast: Breakup by Service (USD Million), 2022-2027
4. Global Seismic Services Historical Market: Breakup by Location of Deployment (USD Million), 2017-2021
5. Global Seismic Services Market Forecast: Breakup by Location of Deployment (USD Million), 2022-2027
6. Global Seismic Services Historical Market: Breakup by Region (USD Million), 2017-2021
7. Global Seismic Services Market Forecast: Breakup by Region (USD Million), 2022-2027
8. North America Seismic Services Historical Market: Breakup by Country (USD Million), 2017-2021
9. North America Seismic Services Market Forecast: Breakup by Country (USD Million), 2022-2027
10. Europe Seismic Services Historical Market: Breakup by Country (USD Million), 2017-2021
11. Europe Seismic Services Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Asia Pacific Seismic Services Historical Market: Breakup by Country (USD Million), 2017-2021
13. Asia Pacific Seismic Services Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Latin America Seismic Services Historical Market: Breakup by Country (USD Million), 2017-2021
15. Latin America Seismic Services Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Middle East and Africa Seismic Services Historical Market: Breakup by Country (USD Million), 2017-2021
17. Middle East and Africa Seismic Services Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Global Seismic Services Market Structure
Key Questions Answered in the Report
The global seismic services market is projected to grow at a CAGR of 5.20% between 2022 and 2027.
The major drivers of industry include the rising demand for oil or natural gas across industries, rapidly increasing offshore boring activities in the oil and gas, and the growing environmental consciousness and the stringent government regulations to combat climate change.
The key market trends guiding the growth of the industry include the rapid technological advancements in seismic technologies.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The services explored in the market report include data acquisition, and data processing and interpretation.
The major locations of deployment considered in the market report include onshore and offshore.
The major players in the industry are Schlumberger Limited, CGG S.A., PGS ASA, TGS-NOPEC Geophysical Company ASA, Halliburton Company, Furgo N.V., and Polarcus Limited, among others.
Analyst Review
The global seismic services market is driven by the increasing demand for oil or natural gas across industry verticals. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 5.20%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on service, the seismic services industry can be segmented into data acquisition, and data processing and interpretation. On the basis of location of deployment, the industry is divided into onshore and offshore. The major regional markets for seismic services are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Schlumberger Limited, CGG S.A., PGS ASA, TGS-NOPEC Geophysical Company ASA, Halliburton Company, Furgo N.V., and Polarcus Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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