Dublin, July 15, 2020 (GLOBE NEWSWIRE) -- The "Seismic Survey Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Seismic Survey Equipment estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.6 Billion by 2027, growing at a CAGR of 3.1% over the analysis period 2020-2027. Hardware, one of the segments analyzed in the report, is projected to grow at a 3.5% CAGR to reach US$927.6 Million by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 2.8% CAGR for the next 7-year period. This segment currently accounts for a 29.7% share of the global Seismic Survey Equipment market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 5.7% CAGR for the Period of 2020-2027
The Seismic Survey Equipment market in the U. S. is estimated at US$356.3 Million in the year 2020. The country currently accounts for a 27.01% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$337.4 Million in the year 2027 trailing a CAGR of 5.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 2.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR while Rest of European market (as defined in the study) will reach US$337.4 Million by the year 2027.
Services Segment Corners a 14.8% Share in 2020
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$147.8 Million in the year 2020 will reach a projected size of US$169.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$226.8 Million by the year 2027, while Latin America will expand at a 3.2% CAGR through the analysis period. The publisher brings years of research experience to this 8th edition of our report. The 465-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others
- BGP Inc.
- CGG S. A.
- China National Petroleum Corporation
- Fairfield Geotechnologies
- Geospace Technologies Corp.
- Ion Geophysical Corporation
- Mitcham Industries, Inc.
- Schlumberger Ltd.
- Wireless Seismic Inc.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Competitor Market Shares
- Seismic Survey Equipment Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 42
For more information about this report visit https://www.researchandmarkets.com/r/nueb8d
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