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Offshore Oil and Gas Seismic Equipment and Acquisitions Market by Technology and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 139
  • SKU: IRTNTR41138
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The offshore oil and gas seismic equipment and acquisitions market share is expected to increase by USD 1.62 billion by 2026 at a CAGR of 7.13%.

The offshore oil and gas seismic equipment and acquisitions market report extensively covers market segmentation by technology (3D seismic survey, 2D seismic survey, and 4D seismic survey) and geography (Europe, APAC, MEA, South America, and North America).

The market vendors studied and compiled in this report include ARGAS, Fugro NV, ION Geophysical Corp., Mitcham Industries Inc., PGS ASA, Polarcus Ltd., SAExploration Holdings Inc., SeaBird Exploration Plc, Shearwater GeoServices Holdings AS, and TGS-NOPEC Geophysical Co. ASA among others. Furthermore, the offshore oil and gas seismic equipment and acquisitions market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

What will the Offshore Oil and Gas Seismic Equipment and Acquisitions Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Offshore Oil and Gas Seismic Equipment and Acquisitions Market Size for the Forecast Period and Other Important Statistics

 

Offshore Oil and Gas Seismic Equipment and Acquisitions Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing investments in offshore upstream sector is notably driving the offshore oil and gas seismic equipment and acquisitions market growth, although factors such as overcapacity constraints with seismic vessel fleets may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the offshore oil and gas seismic equipment and acquisitions market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Offshore Oil and Gas Seismic Equipment and Acquisitions Market Driver

  • One of the key factors driving the global offshore oil and gas seismic equipment and acquisitions industry growth is the increasing investments in offshore upstream sector.
  • According to the IEA, the global spending on the upstream oil and gas sector grew by 6% in 2019 over that in 2018 and will further surge during the forecast period.
    • According to IEA's New Policies Scenario, the association expects Brazil's annual offshore oil and natural gas investment to reach USD 60 billion by 2040.
    • IEA also predicted that annual offshore investments in the Gulf of Mexico (both the US and Mexican sides) to reach USD 20 billion by 2025 and over USD 30 billion by 2040.
  • Therefore, an increase in investments in the offshore upstream sector will be driving market growth in the coming years.

Key Offshore Oil and Gas Seismic Equipment and Acquisitions Market Trend

  • Increasing adoption of 4D seismic survey technology is one of the key offshore oil and gas seismic equipment and acquisitions market trends that is expected to impact the industry positively in the forecast period.
  • The 2D seismic method uses reflected acoustic waves to produce seismic images of geological structures, whereas the 3D seismic method images a three-dimensional representation of the geology.
  • The development of 4D seismic methods has significantly improved the quality of geological structure data.
  • The 4D technique simultaneously monitors a combination of 3D seismic techniques to improve the image quality of the potential hydrocarbon reservoir.
  • The demand for 4D seismic survey technology is rising owing to the higher accuracy and quality of the data.
  • The improvements in seismic technologies for analyzing the properties of rocks and for the identification of hydrocarbon reserves will improve the efficiency of offshore oil and gas extraction.
  • Such factors will further support the growth of the market in the coming years.

Key Offshore Oil and Gas Seismic Equipment and Acquisitions Market Challenge

  • One of the key challenges to the global offshore oil and gas seismic equipment and acquisitions industry growth is the overcapacity constraints with seismic vessel fleets.
  • The sector was facing several other challenges, such as the implementation of new and advanced techniques and technologies of increased value.
  • The low production costs from onshore oilfields caused the marine seismic services sector to share resources and spending with onshore seismic activities. These factors affect the profitability of the vendors and also reduce the number of new investments in the sector.
  • The high operational costs in the sector and low profitability have forced several companies to exit the market.
  • The high overcapacity constraints and relatively low offshore oil and gas seismic acquisition projects affect will hamper the market growth in the forecast years.

This offshore oil and gas seismic equipment and acquisitions market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global offshore oil and gas seismic equipment and acquisitions market as a part of the global oilfield equipment and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the offshore oil and gas seismic equipment and acquisitions market during the forecast period.

Who are the Major Offshore Oil and Gas Seismic Equipment and Acquisitions Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ARGAS
  • Fugro NV
  • ION Geophysical Corp.
  • Mitcham Industries Inc.
  • PGS ASA
  • Polarcus Ltd.
  • SAExploration Holdings Inc.
  • SeaBird Exploration Plc
  • Shearwater GeoServices Holdings AS
  • TGS-NOPEC Geophysical Co. ASA

 

This statistical study of the offshore oil and gas seismic equipment and acquisitions market encompasses successful business strategies deployed by the key vendors. The offshore oil and gas seismic equipment and acquisitions market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • ARGAS - Under the unified segment, the company offers Sella and leases m26 and nomad 65 vibrators and electronics, field equipment and instruments, field equipment, gun, and LMF compressors.
  • ARGAS - The company offers offshore oil and gas seismic equipment and acquisitions that include Sella and leases m26 and nomad 65 vibrators and electronics, field equipment and instruments, field equipment, gun and LMF compressors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The offshore oil and gas seismic equipment and acquisitions market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Offshore Oil and Gas Seismic Equipment and Acquisitions Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the offshore oil and gas seismic equipment and acquisitions market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Offshore Oil and Gas Seismic Equipment and Acquisitions Market?

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27% of the market’s growth will originate from Europe during the forecast period. Norway is the key market for offshore oil and gas seismic equipment and acquisitions in Europe. However, market growth in this region will be slower than the growth of the market in other regions.

The significant increase in investment in offshore oil and gas projects and growing exploration efforts to find new potential reserves in the North Sea and the Black Sea will facilitate the offshore oil and gas seismic equipment and acquisitions market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 outbreak disrupted the offshore oil and gas seismic equipment and acquisitions market in Europe. The outbreak also resulted in low oil prices during the lockdown period and led seismic acquisition companies, such as PGS, to cut costs and decrease their investments. However, after the lifting of lockdowns, the major seismic acquisition companies started their operations while implementing strict social distancing norms. With the recovery of crude oil prices, offshore seismic acquisitions in the region are expected to rise in 2021, which will drive the growth of the offshore oil and gas seismic equipment and acquisitions market in the region during the forecast period.

What are the Revenue-generating Technology Segments in the Offshore Oil and Gas Seismic Equipment and Acquisitions Market?

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The market share growth by the 3D seismic survey segment will be significant during the forecast period. The 3D seismic survey technology is employed to obtain accurate and superior subsurface data. 3D seismic survey technology has become synchronous with modern well exploration and development activities. Most oil and gas producing companies employ the technology to accurately decide the well locations to be drilled, which will propel the demand for 3D seismic surveys in the forecast years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the offshore oil and gas seismic equipment and acquisitions market size and actionable market insights on post COVID-19 impact on each segment.

 

Offshore Oil and Gas Seismic Equipment and Acquisitions Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.13%

Market growth 2022-2026

$ 1.62 billion

Market structure

Concentrated

YoY growth (%)

6.07

Regional analysis

Europe, APAC, MEA, South America, and North America

Performing market contribution

Europe at 27%

Key consumer countries

Norway, Brazil, China, US, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ARGAS, Fugro NV, ION Geophysical Corp., Mitcham Industries Inc., PGS ASA, Polarcus Ltd., SAExploration Holdings Inc., SeaBird Exploration Plc, Shearwater GeoServices Holdings AS, and TGS-NOPEC Geophysical Co. ASA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Offshore Oil and Gas Seismic Equipment and Acquisitions Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive offshore oil and gas seismic equipment and acquisitions market growth during the next five years
  • Precise estimation of the offshore oil and gas seismic equipment and acquisitions market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the offshore oil and gas seismic equipment and acquisitions industry across Europe, APAC, MEA, South America, and North America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of offshore oil and gas seismic equipment and acquisitions market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Technology

    • 5.1 Market segments
      • Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)
    • 5.2 Comparison by Technology
      • Exhibit 26: Chart on Comparison by Technology
      • Exhibit 27: Data Table on Comparison by Technology
    • 5.3 3D seismic survey - Market size and forecast 2021-2026
      • Exhibit 28: Chart on 3D seismic survey - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on 3D seismic survey - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on 3D seismic survey - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on 3D seismic survey - Year-over-year growth 2021-2026 (%)
    • 5.4 2D seismic survey - Market size and forecast 2021-2026
      • Exhibit 32: Chart on 2D seismic survey - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on 2D seismic survey - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on 2D seismic survey - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on 2D seismic survey - Year-over-year growth 2021-2026 (%)
    • 5.5 4D seismic survey - Market size and forecast 2021-2026
      • Exhibit 36: Chart on 4D seismic survey - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on 4D seismic survey - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on 4D seismic survey - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on 4D seismic survey - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Technology
      • Exhibit 40: Market opportunity by Technology ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.4 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.5 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 North America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 Brazil - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Brazil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Brazil - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Brazil - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Brazil - Year-over-year growth 2021-2026 (%)
    • 7.10 Norway - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Norway - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Norway - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Norway - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Norway - Year-over-year growth 2021-2026 (%)
    • 7.11 UK - Market size and forecast 2021-2026
      • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.12 US - Market size and forecast 2021-2026
      • Exhibit 82: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Agile Seismic LLC
              • Exhibit 93: Agile Seismic LLC - Overview
              • Exhibit 94: Agile Seismic LLC - Product / Service
              • Exhibit 95: Agile Seismic LLC - Key offerings
            • 10.4 ARGAS
              • Exhibit 96: ARGAS - Overview
              • Exhibit 97: ARGAS - Product / Service
              • Exhibit 98: ARGAS - Key offerings
            • 10.5 Fugro NV
              • Exhibit 99: Fugro NV - Overview
              • Exhibit 100: Fugro NV - Business segments
              • Exhibit 101: Fugro NV - Key offerings
              • Exhibit 102: Fugro NV - Segment focus
            • 10.6 ION Geophysical Corp.
              • Exhibit 103: ION Geophysical Corp. - Overview
              • Exhibit 104: ION Geophysical Corp. - Business segments
              • Exhibit 105: ION Geophysical Corp. - Key offerings
              • Exhibit 106: ION Geophysical Corp. - Segment focus
            • 10.7 MIND TECHNOLOGY INC.
              • Exhibit 107: MIND TECHNOLOGY INC. - Overview
              • Exhibit 108: MIND TECHNOLOGY INC. - Product / Service
              • Exhibit 109: MIND TECHNOLOGY INC. - Key offerings
            • 10.8 PGS ASA
              • Exhibit 110: PGS ASA - Overview
              • Exhibit 111: PGS ASA - Product / Service
              • Exhibit 112: PGS ASA - Key offerings
            • 10.9 SAExploration Holdings Inc.
              • Exhibit 113: SAExploration Holdings Inc. - Overview
              • Exhibit 114: SAExploration Holdings Inc. - Product / Service
              • Exhibit 115: SAExploration Holdings Inc. - Key offerings
            • 10.10 SeaBird Exploration Plc
              • Exhibit 116: SeaBird Exploration Plc - Overview
              • Exhibit 117: SeaBird Exploration Plc - Business segments
              • Exhibit 118: SeaBird Exploration Plc - Key offerings
              • Exhibit 119: SeaBird Exploration Plc - Segment focus
            • 10.11 Shearwater GeoServices Holdings AS
              • Exhibit 120: Shearwater GeoServices Holdings AS - Overview
              • Exhibit 121: Shearwater GeoServices Holdings AS - Product / Service
              • Exhibit 122: Shearwater GeoServices Holdings AS - Key offerings
            • 10.12 TGS-NOPEC Geophysical Co. ASA
              • Exhibit 123: TGS-NOPEC Geophysical Co. ASA - Overview
              • Exhibit 124: TGS-NOPEC Geophysical Co. ASA - Business segments
              • Exhibit 125: TGS-NOPEC Geophysical Co. ASA - Key offerings
              • Exhibit 126: TGS-NOPEC Geophysical Co. ASA - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 127: Inclusions checklist
                • Exhibit 128: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 129: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 130: Research methodology
                • Exhibit 131: Validation techniques employed for market sizing
                • Exhibit 132: Information sources
              • 11.5 List of abbreviations
                • Exhibit 133: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The offshore oil and gas seismic equipment and acquisitions market growth will increase by $1628.82 million during 2022-2026.
              The offshore oil and gas seismic equipment and acquisitions market is expected to grow at a CAGR of 7.13% during 2022-2026.
              Technavio has segmented the offshore oil and gas seismic equipment and acquisitions market by technology (3D seismic survey, 2D seismic survey, and 4D seismic survey) and geographic (Europe, APAC, Middle East and Africa, South America, North America, Europe, APAC, MEA, South America, and North America).
              Agile Seismic LLC, ARGAS, BGP Inc., CGG SA, CSR GeoSurveys Ltd., Fairfield Geotechnologies, Fugro NV, ION Geophysical Corp., Lynx Information Systems Ltd., MIND TECHNOLOGY INC., MMA Offshore Ltd., PGS ASA, SAExploration Holdings Inc., Schlumberger Ltd., SeaBird Exploration Plc, SEVMORNEFTEGEOFIZIKA, Shearwater GeoServices Holdings AS, TerraSond td., TGS-NOPEC Geophysical Co. ASA, TNG-Group are a few of the key vendors in the offshore oil and gas seismic equipment and acquisitions market.
              Europe will register the highest growth rate of 27.31% among the other regions. Therefore, the offshore oil and gas seismic equipment and acquisitions market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the offshore oil and gas seismic equipment and acquisitions market growth are:
              • Increasing investments in offshore upstream sector
              • Increasing adoption of 4D seismic survey technology
              The offshore oil and gas seismic equipment and acquisitions market vendors should focus on grabbing business opportunities from the 3d seismic survey segment as it accounted for the largest market share in the base year.
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