25 July 2018
Visiongain’s new 214-page Marine Seismic Equipment & Acquisition Market Forecast 2018-2028: CAPEX Forecasts for Seismic Equipment (2D, 3D, Seismic Streamers and Associated Command and Control Systems, Seismic Sources and Associated Coordination Systems, 4C) with Revenue Forecasts for Acquisition by Contract (Proprietary & Multi Client Acquisition), Type (2D, 3D & OBS) and by Water Depth (Shallow Water, Deep water & Ultra-deep) Plus Market Share Analysis of Leading Companies and Regional Market Analysis report indicates that the marine seismic equipment and acquisition market will be worth $5.01bn in 2018.
The fall in the price of oil has caused oil companies to react by cutting exploration investments. This in turn has resulted in marine seismic acquisition companies making major spending cuts in order to remain profitable during this market downturn. Recovery in the marine seismic market will occur in line with the recovery of the oil price. Seismic data acquisition is expected to recover faster than the equipment market as companies can seek opportunities in both multi-client and proprietary work to utilise the availability of vessels and equipment.
The oil price fall in late 2014 caused a rapid fall in CAPEX in the equipment market. Over the next ten years, the 3D equipment submarket is expected to at grow at the lowest rate but has the biggest share. This is because of the need for higher-specification vessels and greater vessel efficiency in the future as a recovery in oil prices is anticipated; growth will occur despite the current cautious outlook on vessel orders. With regards to acquisition activity, the oil price fall will hold this back and decrease vessel utilisation rates. With a steady recovery of oil prices anticipated in the following years, seismic acquisition activity is also expected to follow the same trend but will also be affected by the cyclical nature of the exploration market.
The Marine Seismic Equipment & Acquisition Market Forecast 2018-2028: CAPEX Forecasts for Seismic Equipment (2D, 3D, Seismic Streamers and Associated Command and Control Systems, Seismic Sources and Associated Coordination Systems, 4C) with Revenue Forecasts for Acquisition by Contract (Proprietary & Multi Client Acquisition), Type (2D, 3D & OBS) and by Water Depth (Shallow Water, Deep water & Ultra-deep) Plus Market Share Analysis of Leading Companies and Regional Market Analysis report will be of value to anyone who wants to better understand the industry and its dynamics. It will be useful for businesses already involved in segment of the Marine Seismic market, or for those wishing to enter this growing market in the future.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to firstname.lastname@example.org or call her on +44 (0) 207 336 6100
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors.
Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on
Sustainable energy development plans taken by countries are offering favourable policies and incentives that support the growth of the BIPV solar power market. The decreasing cost of solar PV panels and modules is also anticipated to augment market adoption over the coming years.
11 May 2021
Factors such as massive rise in production efficiencies at mature fields and surge in demand of energy are some of the major factors driving the market growth.
06 May 2021
The unpredictability and fluctuations of crude oil price in past two years and turmoil in energy markets has led countries to look for alternate energies such as recovering energy from solar, the wind, fossil fuels, biomass, and waste.
05 May 2021
In the coming decade, enhanced oil recovery strategies are set to be increasingly relevant in the international petroleum industry with increased global energy requirements, ageing oil fields and the shortage of traditional oil finds.