Press Release

North America Region to Dominate Offshore Oil & Gas Seismic Equipment and Acquisitions Solutions Market till 2024

Increasing focus on E&P activities in challenging geographical areas, technological advancements and rising demand for oil & gas to fuel demand for offshore oil and gas seismic equipment and acquisitions solutions globally through 2024

According to a report published by TechSci ResearchGlobal Offshore Oil & Gas Seismic Equipment and Acquisitions Solutions Market By Type, By Dimension, By Service Type, By Region, Competition, Forecast & Opportunities, 2024”, global offshore oil and gas seismic equipment and acquisitions solutions is forecast to surpass 890 million by 2024, on account of stability in the crude oil price, rising investments in oil & gas exploration activities and growing demand for fossil fuels globally. Moreover, increasing number of offshore drilling activities and rising number of strategic partnerships in oil & gas industry are further expected to boost the global offshore oil and gas seismic equipment and acquisitions solutions market. SeaBird Exploration, PGS, Schlumberger WesternGeco and Breckenridge Geophysical are the major players operating in global offshore oil and gas seismic equipment and acquisitions solutions market.  

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In terms of dimension, global offshore oil and gas seismic equipment and acquisitions solutions market is categorized into 2D (2-dimensional) and 3D (3-dimensional), of which, 3D category accounts for majority of the global offshore oil and gas seismic equipment and acquisitions solutions market. The category is expected to remain as the largest during forecast period as well, as this dimension is user friendly and continual rising usage of this technology for identifying process of oil and gas reserves. Moreover, 3D also provides accurate data compared with 2D.  In by Type segment, Seismometer accounted for the largest share in global offshore oil and gas seismic equipment and acquisitions solutions market, on account of rising investments in R&D for technological advancements and growing usage while exploration of Shale Gas. Among regions, North America dominated the global offshore oil and gas seismic equipment and acquisitions solutions market and is anticipated to continue its dominance during the forecast period as well, on account of presence of a large number deep and ultradeep offshore wells in the region and growing demand for oil & gas.

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“As per British petroleum statistics, the global primary energy consumption stood at around 13,865 MTOE (Million tonnes of Oil Equivalent), as of 2019 and it is expected to reach around 20,000 MTOE by 2040. Moreover growing technological advancements, rising exploration activities and stability in crude oil prices are further expected to boost the global offshore oil and gas seismic equipment and acquisitions solutions market in the coming years.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Offshore Oil & Gas Seismic Equipment and Acquisitions Solutions Market By Type, By Dimension, By Service Type, By Region, Competition, Forecast & Opportunities, 2024,” has evaluated the future growth potential of global offshore oil and gas seismic equipment and acquisitions solutions market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global offshore oil and gas seismic equipment and acquisitions solutions market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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Relevant Reports

Global Offshore Oil & Gas Seismic Equipment and Acquisitions Solutions Market By Type (Seismometer; Data Acquisition Devices & Others), By Dimension (2D & 3D), By Service Type (Hardware & Software), By Region, Competition, Forecast & Opportunities, 2024

Oil and Gas | Jul, 2019

Increasing focus on E&P activities in challenging geographical areas, technological advancements and rising demand for oil & gas to fuel demand for offshore oil and gas seismic equipment and acquisitions solutions globally through 2024

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