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.
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