A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Marine
Seismic Equipment and Acquisition
market. The study,
titled “Marine
Seismic Equipment and Acquisition Market - Global Industry Analysis,
Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020”,
is available for sale on the firm’s website.
Decrease
in conventional reserves and the necessity to carry out exploration
in an increasingly harsh environment means that advanced seismic
exploration technologies are required. Currently, there is a
continuous trend for increasing the penetration of seismic surveys,
which is only possible due to improved equipment sensitivity. High
sensitivity receivers and multichannel recording systems are
preferred due to better efficiency and reliable life span. However,
with increase in the distribution of multichannel technologies,
rising problem of power supply can be resolved. The increase in the
number of equipments units while packaging a grid and the usage of
digital sensors leads to huge power consumption at the time of
conducting the survey.
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For
better data recording wireless data systems are preferred. Using
standalone unit reduces down the labor and time costs for unreeling
and laying cables and it also allows seismic exploration to take
place in highly complex terrains. Various oilfield service companies
have started using wireless data recording system, but the chances of
usage of wireless data recording system by many companies are quite
narrow.
Seismic
equipment market is regulated by the volume and structure of demand
for geological exploration by various oil producing companies. Till
2008, the global seismic equipment market was growing at a healthy
rate due to the increasing capacities of oilfield service companies,
majorly driven by the desire of exploration and production (E&P)
companies to increase the number of surveys they were conducting.
Crisis that had taken place in the year of 2008 has led to a decrease
in the volume of exploration works by E&P companies, which had
led to a rapid decrease in real volumes in the seismic equipment
market. Simultaneously, the oilfield service providing companies had
underused the production capacities, leading to a reduction in demand
for seismic equipment.
In
the year 2010, the seismic exploration market was worth USD 8.9
billion. Small percentage of the market comprises equipment
manufacturers while the remaining percentage consisted of seismic
data processing and field works. Global seismic equipment market is
heterogeneous in nature. Development of local market is determined
through the demand of seismic exploration in various regions and also
by the demand for specific technologies in a region.
Traditionally
marine seismic equipments comprises of the large share of the seismic
equipment market whereas surface equipment contributes only 45%.
Highest share of the surface equipment market belongs to data
registration systems (45%) and vibroseis sources (31%) whereas signal
receiver accounts for 24% market share in 2010.
Methods
such as Slip Sweep and Flip Flop are continuously used to get high
quality signals and such methods needs wide involvement of vibroseis
sources. Special synchronized systems are utilized to ensure
efficient and effective use of groups of vibroseis sources. Key
technological trends for conducting seismic surveys are accelerating
the continuous up gradation and expansion of the equipments of
oilfield service companies, which in turn is driving the seismic
equipment market to grow.
Some
of the key drivers of the seismic equipment market include the
renewal cycles of the technology used and the growing numbers of
seismic surveys being conducted. However, large amount of capital
required to carry out the seismic survey can hamper the growth of the
market. Ample opportunities are there for marine seismic equipment
market as demand for energy is increasing at a rapid rate.
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Market Research Report with ToC & Analysis :
Some
of the key companies in the business of marine seismic equipments are
SIG FRANCE, Mitcham Industries Inc., ION Geophysical Corporation and
Tesla Exploration International Limited among others.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends.
Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
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and analyze information.
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data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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