Global Land Seismic Equipment and Acquisition Market 2017-2021

Overview of the global land seismic equipment and acquisition market

According to the US Energy Information Administration, there is an upsurge in the consumption of liquid fuel and this will increase the demand for liquid fuel during the forecast period. Technavio’s acquisition market forecast has identified the rising demand for oil and gas across the globe as one of the primary growth factors for the land seismic equipment and acquisition market. To meet the growing fuel demand, oil companies have the need to increase their production or concentrate on drilling new wells. This will increase the demand for oilfield tools and services, which will subsequently trigger the growth of the land seismic equipment and acquisition market. Our acquisition market land seismic equipment & acquisition market forecast has estimated that this market will register a revenue of almost USD 2.5 billion by 2021.

The usage of drones in land seismic data acquisition operations will be one of the key trends that will gain traction in the land seismic equipment and acquisition market in the coming years. Land seismic data acquisition operations require the installation of geophones. Land surveys are difficult and limited de to the lack of easy accessibility since land vehicles find it difficult to cover different terrains. This will drive the preference for drones since they reduce the need for extensive foot crew movement. Since drones can upload and transfer data faster from wireless seismic recording systems and deliver them to the processing center, quickly and accurately the next few years will witness a considerable increase in their demand for land seismic data acquisition.

Competitive landscape and key vendors

The land seismic equipment and acquisition market has the presence of several large-scale vendors offering seismic equipment and data acquisition services. To sustain the competitive environment, this players in this market are focusing on following M&A activities. The vendors are heavily investing in R&D and are also focusing on expanding their consumer base by upgrading their portfolios with latest innovations.

The leading vendors in the market are-

• CGG
• Dawson Geophysical
• Geometrics
• IG Seismic Services
• SAExploration

The other vendors covered in this report are BGP, DMT, Geokinetics, Geospace Technologies, INOVA, International Seismic ION Geophysical, Mitcham Industries, PARAGON GEOPHYSICAL SERVICES, Polaris Seismic International, Schlumberger, Terraseis, Terrex Seismic, and Wireless Seismic.  

Segmentation by type and analysis of the land seismic equipment and acquisition market

• Acquisition
• Equipment

During 2016, the acquisition segment accounted for the major shares of the land seismic equipment and acquisition market. Acquisition services include planning, designing seismic surveys, and carrying out the survey to acquire accurate data. The emergence of wireless technologies and the use of drones will drive the growth of the market in this segment in the coming years.

Segmentation by geography and analysis of the land seismic equipment and acquisition market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the land seismic acquisition market. The region consists of several OPEC countries that are indulged in oil and gas production due to their large petroleum reserves. The rise in exploration and production (E&P) activities and the growing demand for oil and gas that will increase the need for seismic surveys for new exploration activities, will drive the markets’ growth prospects.

Key questions answered in this report 

• What will the land seismic equipment and acquisition market size and the growth rate be in 2021?
• What are the key factors driving the global land seismic equipment and acquisition market?
• What are the key land seismic equipment and acquisition market trends impacting the growth of the market?
• What are the challenges to global land seismic equipment and acquisition market growth?
• Who are the key vendors in the market?
• What are the market opportunities and threats faced by the vendors in the global land seismic equipment and acquisition market?
• Trending factors influencing the land seismic equipment and acquisition market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global land seismic equipment and acquisition market?

Technavio also offers customization on reports based on specific client requirement.