Marine Seismic Equipment and Acquisition Market is Anticipated to Reach US--content--.53Posted by pranav suryawanshi on September 25th, 2019 The global marine seismic equipment and acquisition market demonstrates a highly consolidated competitive landscape, finds a new research study by Transparency Market Research (TMR). In 2015, nearly 90% of the whole market was acquired by the top six players, namely, CGG, PGS, TGS, Polarcus DMCC, Fugro N.V., and SeaBird Exploration PLC. The slowdown in the demand from the main end user of marine seismic equipment and acquisition, that is, the oil and gas industry is expected to intensify the competition within this market substantially in the near future, states the report. As per TMR’s estimations, the global marine seismic equipment market presented an opportunity worth US--content--.36 bn in 2015. Expanding at a CAGR of 4.50% during the period from 2016 to 2024, the market is expected to cross US--content--.53 bn mark by the end of the forecast period. Over the same period of time, the global market for marine seismic acquisition is estimated to rise from US.5 bn in 2015 to US.6 bn by 2024, increasing at a CAGR of 5.30%. The 3D survey is the key technology used for marine seismic acquisitions and is projected to continue to lead over the next few years. The information Presented in this Review is Based on Press-Release by TMR
Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa have been considered as the key regional markets for marine seismic equipment and acquisitions in this research report. With US4.1 mn in marine seismic acquisition and US.1 mn in marine seismic equipment, Europe led this market in 2015. Thanks to the high demand for conventional oil reserves, this regional market is likely to remain seated in the leading position throughout the forecast period. Get Research Solutions on a Wide Range of Products and Industries that you plan on venturing into Like it? Share it! More by this author |