Seismic Survey Market Share

Regionally, the global seismic survey market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is anticipated to generate the largest revenue of USD 3286.4 Million by the end of 2030, up from a revenue of USD 2070.3 Million in the year 2020. The market in the region is also expected to grow with the highest CAGR of 4.84% during the forecast period. One of the major factors anticipated to drive the growth of the seismic survey market in the Asia Pacific is the growing focus of the government of nations, such as in China and India, to develop public infrastructure, as the region possesses numerous earthquake prone areas. Moreover, the increasing demand for oil and gas from several countries in the region is also anticipated to drive the market growth in the coming years. Further, the availability of several oil & gas reserves in the region is also expected to drive the market growth. According to the Center for Strategic & International Studies (CSIS) Asia Maritime Transparency Initiative (AMTI) statistics, around 11 Billion barrels of oil and 190 Trillion cubic feet of natural gas in proved and probable reserves are available in South China Sea. The seismic survey market in the region is segmented by country into China, India, Australia, South East Asia, and the Rest of Asia Pacific. Out of these, the market in China is anticipated to garner the largest revenue of USD 1366.2 Million by the end of 2030, and also grow with the highest CAGR of 5.61% during the forecast period.