Land Seismic Equipment Market to be Worth $450M in 2016, According to a New Study on ASDReports

Thursday 17 December 2015, Amsterdam

The new report, now available on ASDReports, “The Land Seismic Equipment and Acquisition Markets 2016-2026” indicates that the land seismic equipment and acquisition markets will reach a value of $450m and $1,959m respectively in 2016. The onshore seismic industry is a cautious one and has suffered a significant decline in spending after the oil price collapse of late 2014. Visiongain anticipates that CAPEX will recover gradually in line with the anticipated oil price recovery, with certain areas of both markets affected at different levels.

Expenditure for land seismic equipment and data acquisition is part of overall oil & gas exploration expenditure and the land seismic equipment and acquisition markets are important to follow as spending and trends within these markets indicate future locations for drilling and resource exploitation. Seismic surveys use energy waves to build up an image of the subsurface.  Explosives or vibrators create seismic waves which travel through the ground and are reflected by layers of rock. The reflected waves are picked up by sensors (geophones) with the pattern of reflections revealing whether rock formations and types are such as to be able to accommodate hydrocarbon resources. This information forms the basis of the decision on where exploratory drilling should occur.

The lead analyst of the report commented that, “Oil companies react to low oil prices by cutting exploration budgets and consequently land seismic acquisition companies cut spending on new equipment. Depressed onshore seismic acquisition activity has created an excess capacity in equipment meaning that the anticipated recovery of the acquisition market will, in the short term, be accommodated by existing equipment. Going forward, technological advancements in equipment and the need to satisfy demand for higher fidelity data will boost the equipment market. Increasing energy demand in developing economies and growing interest in shale resource development are also important drivers for land seismic acquisition.”

The 182 page report contains 120 tables, charts and graphs that add visual analysis in order to explain developing trends within the land seismic equipment and acquisition markets. Visiongain provides individual global forecasts, in terms of capital expenditure (US$), on land seismic equipment and acquisition for the period 2016-2026. In addition to these global forecasts, there are five equipment submarkets individually analysed and forecasted (Land Seismic Sensors, Land Seismic Sources, Cable Base Acquisition Systems, Wireless Acquisition Systems, Other Equipment). The acquisition market analysis also includes ten year capital expenditure (US$) forecasts on a regional basis for North America, Asia Pacific, Middle East, Russia & CIS, Africa, South America and Europe.

An interview with OPAC BARATA provides insight into the overall industry and current market trends, while a company chapter provides detailed analysis and outlooks for the more than 40 land seismic acquisition and equipment companies.

The Land Seismic Equipment & Acquisition Markets 2016-2026 will be of value to current and potential future stakeholders and/or investors in the seismic industry and upstream segment of the oil and gas industry. It will also benefit companies and research centres that wish to broaden their knowledge and understanding of a niche market that is critical to the development of offshore resources worldwide.