Seismic Survey Market Projected to Grow At A CAGR Of 3.96% During 2021-2030

Research Nester has released a report titled Seismic Survey Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

The final consumption of gas/diesel and motor gasoline, according to the statistics by the International Energy Agency (IEA), touched 1297065.0 kt and 1047841.0 kt respectively in the year 2018, up from 1146515.0 kt and 921686.0 kt respectively in the year 2010.

The statistics portray the growing consumption of energy, such as oil & gas, backed by increasing urbanization, rising demand for oil & gas from the transportation industry as well as in other end-use organizations. Owing to such a factor, the oil & gas companies are increasingly focusing on exploring new reserves so as to raise their production. This, as a result, is driving the need for using seismic survey services to enhance the exploration process, which in turn, is anticipated to drive the growth of the global seismic survey market in the coming years.

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The global seismic survey market is anticipated to grow with a CAGR of 3.96% over the forecast period, i.e., 2021 – 2030. The market is estimated to garner a revenue of USD 11658.2 Million by the end of 2030, up from a revenue of USD 7990.3 Million in the year 2020. The market is segmented by technology into 2D imaging, 3D imaging, and 4D imaging, out of which, the 3D imaging segment is expected to generate the largest revenue of USD 6857.4 Million by the end of 2030, and further grow with the highest CAGR of 4.44% during the forecast period. Moreover, in the year 2020, the market generated the largest revenue of USD 4489.0 Million.

On the basis of region, the global seismic survey market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in the Asia Pacific region is anticipated to generate the largest revenue of USD 3286.4 Million by the end of 2030. Further, the market generated a revenue of USD 2070.3 Million in the year 2020 and is expected to grow the highest CAGR of 4.84% during the forecast period.

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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

However, the high cost associated with seismic survey is one of the major factors predicted to hinder the market growth in the coming years.

This report also provides the existing competitive scenario of some of the key players of the global seismic survey market, which includes company profiling of PT Elnusa Tbk, CGG Group, Fugro N.V., Polarcus Limited, Alphageo (India) Limited, PGS Group, SeaBird Exploration Group, Agile Seismic LLC, ION Geophysical Corporation, Pulse Seismic Inc., and others.

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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Seismic Survey Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global seismic survey industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global seismic survey market in the near future.

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