According to a recently published analytical report by Future Market Insights, the global market for seismic survey equipment is expected to generate US$1.6 billion in sales by 2022. The market is anticipated to reach a valuation of US$ 2.2 Bn by the end of the forecast period, with 3.8% predicted growth between 2022 and 2032. The Seismic Survey Equipment Market’s top revenue-generating segment, hardware, is anticipated to expand at a CAGR of more than 3.9% between 2022 and 2032.
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From 2018 to 2021, the seismic survey equipment market will be worth $. Comparatively speaking to the Demand Forecast for 2022 to 2032
A provider of market research and competitive data, Future Market Insights estimates that the Seismic Survey Equipment Market’s historical growth rate between 2018 and 2021 was around 4.3%. By 2032, the market is projected to be valued US$ 2.3 billion, with an absolute dollar potential of US$ 702 million.
The primary revenue drivers that affect the market for seismic survey equipment are rising risk management investments and the need for modern land survey equipment.
Due to the advantages of using computerised devices when conducting land surveys, the market is anticipated to expand.
Which nation commands the largest share of the seismic survey equipment market in terms of revenue?
By the end of 2032, the United States is anticipated to have the largest market, worth US$ 393.8 Mn. It is anticipated to grow in value by an absolute amount of US$141.4 million. The presence of multinational corporations like Geostuff, Baker Hughes, Throop Rock Bit, Geospace Technologies, Ion Geophysical, and Wireless Seismic, Inc. in the nation also contributes to the market size of the nation.
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Seismic Survey Equipment Market Segmentation
By Component:
- Hardware
- Software
- Services
By Technology:
- 2D
- 3D
- 4D
By Location:
- Onshore
- Offshore
By Industry:
- Oil & Gas
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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