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Seismic Vessels Market is expected to reach a value of over US$ 2,548.84 Mn by the end of forecast period at a CAGR of 10.5% | Mitsubishi Heavy Industries,Ulstein Group,Singapore Technologies ,Drydocks World,Hijos de J. Barreras SA,Factorias Vulcano,Niest

Seismic Vessels Market is expected to reach a value of over US$

A Brief Overview of the Research Methodology Incorporated in the Seismic Vessels Market Report

Persistence Market Research (PMR) uses a modelling-based approach and triangulation methodology, which includes market profiling, hypothesis generation, data collection, forecast development, pricing analysis and competition mapping.
In order to estimate the global volume sales of seismic vessels, the total number of vessels installed worldwide has been tracked. From the company seismic vessel fleet, the number of seismic vessels from overall vessels has been identified. This is further verified from the supply side wherein the market shares of the companies considered has been tracked and new seismic vessel sales have been arrived at.

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Seismic Vessels Market Dynamics

Recovering crude oil prices will be among the main drivers of the global seismic vessel market. The exploration and production (E&P) segment has been taking the brunt of the investment cuts since the oil price slump in 2014, thereby directly affecting offshore seismic activity and the seismic vessels market. Between 2014 and 2016, global oil & gas funding dropped by nearly 44% with majority of the price cuts affecting the exploration sector of the industry. With crude oil prices stabilizing, E&P companies are starting to allocate a larger percentage of funds to the E&P segment, and the global oil & gas spending is expected to see a steady rise of 5 – 6%, which is expected to boost the seismic vessel market.

The volatile oil & gas prices and rise of renewable sources of energy are among the major challenges faced in the global seismic vessels market.

Rise in Offshore Exploration Investments to Drive the Seismic Vessels Market

Oil prices play an important role in the seismic vessel market. Rise in oil prices has a positive impact on global oil & gas activity, encouraging E&P operators to increase spending in oil & gas exploration. Since the oil price slump, the oil & gas industry has seen a drastic decrease in the investments for exploration, especially offshore, which has been affecting the global seismic vessel market. The last couple of years have seen oil prices stabilizing, which is driving investments in offshore exploration activities. This has increased the number of tenders for new offshore seismic acquisitions and new seismic vessel orders.

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Deep Water Exploration to be a Major Segment in the Global Seismic Vessels Market

Deep water holds a major share of offshore oil & gas reserves. Even though shallow water holds a significant portion of reserves, deep water leads the offshore oil & gas exploration segment. This is expected to drive the seismic vessel market and the deep water segment is project hold over 60% of the market share in the global seismic vessels market by the end of forecast period.

EMEA to Remain a High Value – High Growth Region in the Seismic Vessels Market

The presence of a large number of untapped and unexplored oil & gas reserves in the region is expected to drive the demand for seismic vessels in the region. EMEA is projected to register a CAGR of 14.6% in terms of value, which is 0.9X the collective CAGR of the other two regions. The region holds one of the most oil-rich offshore zones in the world. North Sea, Gulf of Guinea, Mediterranean Sea and Norwegian Sea are some of the busiest offshore E&P regions in the world, with still a large amount of reserves yet to be explored. This provides huge market potential for seismic vessels in the region. Along with this, the region also has some of the major seismic vessel manufacturing companies, which is further contributing towards the growth of the seismic vessel market in the region.

Increasing industrialization and urbanization has created greater demand for energy in the APAC region. The region is exploring new potential oil & gas reserves to cater to the growing energy demand. This will propel the growth of the seismic vessels market in the region, and the region is projected to grow at a CAGR of 8.0%.

The Americas region is projected to register almost the same growth rate as APAC in the seismic vessels market, given the rise in offshore exploration in Gulf of Mexico and offshore Latin America. The U.S. is expected to lead the Americas region in the seismic vessel market, given the country’s desire to be the number one oil producing nation in the world. Latin America will closely follow, with increased investments in the offshore waters of Brazil, Colombia, Peru and other Latin American countries.

Collaboration with Geophysical Companies in the Seismic Vessels Market

Seismic vessel manufacturers are entering into partnerships with geophysical companies to provide custom-made solutions as per the client’s custom requirements and perform better acquisition capabilities in complex reservoirs. The presence of a large number of complex reservoirs across the globe is projected to drive the collaborative efforts between companies in the seismic vessels market.

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Table of Contents

1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. Wheel of Fortune
1.4. PMR Analysis and Recommendations

2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy

3. Seismic Vessels Market Background
3.1. Macro-Economic Factors
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Trends
3.3. Opportunity Analysis
3.4. Value Chain Analysis
3.5. Forecast Factors – Relevance & Impact

4. Global Seismic Vessels Market Analysis 2013–2017 and Forecast 2018-2026
4.1. Market Volume Projections
4.2. Pricing Analysis
4.3. Market Size Projections
4.3.1. Y-o-Y Projections
4.3.2. Absolute $ Opportunity Analysis

5. Global Seismic Vessels Market Analysis 2013–2017 and Forecast 2018-2026, By Acquisition Type
5.1. Introduction
5.1.1. Market Value Share Analysis By Type
5.2. Historical Market Size (US$ Mn) and Volume By Acquisition Type, 2013–2017
5.3. Market Size (US$ Mn) and Volume Forecast By Acquisition Type , 2018-2026
5.3.1. 2D
5.3.2. 3D
5.3.3. 4C/4D
5.4. Market Attractiveness Analysis By Type

6. Global Seismic Vessels Market Analysis 2013–2017 and Forecast 2018-2026, By Depth
6.1. Introduction
6.1.1. Market Value Share Analysis By Depth
6.2. Historical Market Size (US$ Mn) and Volume By Depth, 2013–2017
6.3. Market Size (US$ Mn) and Volume Forecast By Depth, 2018-2026
6.3.1. Shallow Water
6.3.2. Deep Water
6.4. Market Attractiveness Analysis By Depth

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Persistence Market Research
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About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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