Seismic Support Vessels Market Share, Size, Trends, Industry Analysis Report, By Dimension (medium, large, very large); By Application; By Region; Segment Forecast, 2024- 2032

PUBLISHED: March 24, 2024

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The global seismic support vessels market size is expected to reach USD 11.34 billion by 2032, according to a new study by Polaris Market Research. The report "Seismic Support Vessels Market Share, Size, Trends, Industry Analysis Report, By Dimension (medium, large, very large); By Application; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Seismic vessels are created to conduct seismic surveys in the ocean. These distinctive ships assist in identifying the ideal oil drilling location and reducing marine life disturbance. In determining the suitable location for drilling, they fire seismic waves and measure the return. These vessels can examine the ocean's geology, including trenches, rocks, and other submerged features, by employing delicate equipment. Companies are working on increasing their expenditure on seismic support vessels to cater to global energy requirements, as they enable them to identify acceptable places for oil exploration.

According to the major oilfield services firm, SLB, global expenditure on offshore oil and gas exploration is expected to witness more than 20% growth in 2023 and is likely to retain its position over the coming years. This demonstrates the ongoing concerns among the industrials to capture a larger consumer base by increasing their oil productivity, necessitating the adoption of the latest technology with a view to establishing offshore projects without disturbance to the marine ecosystem. Seismic support vessels are gaining traction from oil and gas companies, driven by their ability to improve the amount of oil and gas extraction with a view to stimulating their profitability.

The global market is witnessing a huge demand for oil and gas exploration activities, driven by an increasing need for sufficient oil and energy as nations are experiencing price instability attributable to supply shortages. According to industrial experts, the demand for seismic services is anticipated to expand by another 14%, or $1.1 billion, and reach roughly $9.3 billion in 2023 because of increased exploration activities. Companies in this field are witnessing profits attributable to the growing demand for seismic support vessel services.

For instance, according to research Q2 2023 figures from CGG, the sensing and monitoring segment revenue witnessed $146 million, which is 222% up from the year-on-year highly influenced by ocean bottom node seismic equipment deliveries. This is driving the other market players to innovate new product innovations in the marketplace with a view to improving their share in the global market.

Seismic Support Vessels Market Report Highlights

Very large segment is anticipated to witness the highest growth in the coming years due to its capability to accommodate deep-water environments.

Oil and gas segment accounted for the largest market share owing to rising energy demand and exploration activities.

APAC is projected to register the largest growth rate in the study period owing to government initiatives promoting energy production.

North America is expected to have the fastest growth owing to the increasing drilling activities in the region to meet regional electricity needs.

The global players include Cemre Shipyard, Damen Shipyards Group, Naval Dynamics, Rederij Groen, Sanco Shipping, Salt Ship Design, Swire Pacific Offshore Operations, Tananger Offshore & Ulstein Group.

Polaris Market Research has segmented the seismic support vessels market report based on dimension, application and region:

Seismic Support Vessels, Dimension Outlook (Revenue - USD Billion, 2019 - 2032)

Medium (Less than 40 m)
Large (Between 40m - 70m)
Very large (Greater than 70m)

Seismic Support Vessels, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Oil & Gas Industry
Geological Survey
Defence

Seismic Support Vessels, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa

Product Code: PM4722

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Seismic Support Vessels Market Insights

4.1. Seismic Support Vessels Market - Industry Snapshot
4.2. Seismic Support Vessels Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising investments in the oil and gas industry are boosting the demand for seismic support vessels
  - 4.2.1.2. Growing Offshore Exploration Activities
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. High Capital Costs and Long Lead Times
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Seismic Support Vessels Industry trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Seismic Support Vessels Market, by Dimension

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Seismic Support Vessels, by Dimension, 2019-2032 (USD Billion)
5.3. Medium (Less than 40 m)
- 5.3.1. Global Seismic Support Vessels Market, by Medium (Less than 40 m), by Region, 2019-2032 (USD Billion)
5.4. Large (Between 40m - 70m)
- 5.4.1. Global Seismic Support Vessels Market, by Large (Between 40m - 70m), by Region, 2019-2032 (USD Billion)
5.5. Very large (Greater than 70m)
- 5.5.1. Global Seismic Support Vessels Market, by Very large (Greater than 70m), by Region, 2019-2032 (USD Billion)

6. Global Seismic Support Vessels Market, by Application

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
6.3. Oil & Gas Industry
- 6.3.1. Global Seismic Support Vessels Market, by Oil & Gas Industry, by Region, 2019-2032 (USD Billion)
6.4. Geological Survey
- 6.4.1. Global Seismic Support Vessels Market, by Geological Survey, by Region, 2019-2032 (USD Billion)
6.5. Defence
- 6.5.1. Global Seismic Support Vessels Market, by Defence, by Region, 2019-2032 (USD Billion)

7. Global Seismic Support Vessels Market, by Geography

7.1. Key findings
7.2. Introduction
- 7.2.1. Seismic Support Vessels Market Assessment, By Geography, 2019-2032 (USD Billion)
7.3. Seismic Support Vessels Market - North America
- 7.3.1. North America: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
- 7.3.2. North America: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.3.3. Seismic Support Vessels Market - U.S.
  - 7.3.3.1. U.S.: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.3.3.2. U.S.: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.3.4. Seismic Support Vessels Market - Canada
  - 7.3.4.1. Canada: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.3.4.2. Canada: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
7.4. Seismic Support Vessels Market - Europe
- 7.4.1. Europe: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
- 7.4.2. Europe: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.4.3. Seismic Support Vessels Market - UK
  - 7.4.3.1. UK: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.4.3.2. UK: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.4.4. Seismic Support Vessels Market - France
  - 7.4.4.1. France: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.4.4.2. France: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.4.5. Seismic Support Vessels Market - Germany
  - 7.4.5.1. Germany: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.4.5.2. Germany: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.4.6. Seismic Support Vessels Market - Italy
  - 7.4.6.1. Italy: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.4.6.2. Italy: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.4.7. Seismic Support Vessels Market - Spain
  - 7.4.7.1. Spain: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.4.7.2. Spain: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.4.8. Seismic Support Vessels Market - Netherlands
  - 7.4.8.1. Netherlands: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.4.8.2. Netherlands: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.4.9. Seismic Support Vessels Market - Russia
  - 7.4.9.1. Russia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.4.9.2. Russia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
7.5. Seismic Support Vessels Market - Asia Pacific
- 7.5.1. Asia Pacific: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.5.3. Seismic Support Vessels Market - China
  - 7.5.3.1. China: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.5.3.2. China: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.5.4. Seismic Support Vessels Market - India
  - 7.5.4.1. India: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.5.4.2. India: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.5.5. Seismic Support Vessels Market - Malaysia
  - 7.5.5.1. Malaysia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.5.5.2. Malaysia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.5.6. Seismic Support Vessels Market - Japan
  - 7.5.6.1. Japan: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.5.6.2. Japan: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.5.7. Seismic Support Vessels Market - Indonesia
  - 7.5.7.1. Indonesia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.5.7.2. Indonesia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.5.8. Seismic Support Vessels Market - South Korea
  - 7.5.8.1. South Korea: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.5.8.2. South Korea: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
7.6. Seismic Support Vessels Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.6.3. Seismic Support Vessels Market - Saudi Arabia
  - 7.6.3.1. Saudi Arabia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.6.3.2. Saudi Arabia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.6.4. Seismic Support Vessels Market - UAE
  - 7.6.4.1. UAE: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.6.4.2. UAE: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.6.5. Seismic Support Vessels Market - Israel
  - 7.6.5.1. Israel: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.6.5.2. Israel: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.6.6. Seismic Support Vessels Market - South Africa
  - 7.6.6.1. South Africa: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.6.6.2. South Africa: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
7.7. Seismic Support Vessels Market - Latin America
- 7.7.1. Latin America: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.7.3. Seismic Support Vessels Market - Mexico
  - 7.7.3.1. Mexico: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.7.3.2. Mexico: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.7.4. Seismic Support Vessels Market - Brazil
  - 7.7.4.1. Brazil: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.7.4.2. Brazil: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
- 7.7.5. Seismic Support Vessels Market - Argentina
  - 7.7.5.1. Argentina: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
  - 7.7.5.2. Argentina: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)

8. Competitive Landscape

8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

9.1. Cemre Shipyard
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
9.2. Damen Shipyards Group
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
9.3. Naval Dynamics
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
9.4. Rederij Groen
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
9.5. Sanco Shipping
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
9.6. Salt Ship Design
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
9.7. Swire Pacific Offshore Operations
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
9.8. Tananger Offshore
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
9.9. Ulstein Group
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development

Product Code: PM4722

List of Tables

Table 1 Global Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 2 Global Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 3 Seismic Support Vessels Market Assessment, By Geography, 2019-2032 (USD Billion)
Table 4 North America: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 5 North America: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 6 U.S.: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 7 U.S.: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 8 Canada: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 9 Canada: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 10 Europe: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 11 Europe: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 12 UK: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 13 UK: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 14 France: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 15 France: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 16 Germany: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 17 Germany: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 18 Italy: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 19 Italy: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 20 Spain: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 21 Spain: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 22 Netherlands: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 23 Netherlands: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 24 Russia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 25 Russia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 26 Asia Pacific: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 27 Asia Pacific: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 28 China: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 29 China: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 30 India: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 31 India: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 32 Malaysia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 33 Malaysia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 34 Japan: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 35 Japan: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 36 Indonesia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 37 Indonesia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 38 South Korea: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 39 South Korea: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 40 Middle East & Africa: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 41 Middle East & Africa: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 42 Saudi Arabia: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 43 Saudi Arabia: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 44 UAE: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 45 UAE: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 46 Israel: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 47 Israel: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 48 South Africa: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 49 South Africa: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 50 Latin America: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 51 Latin America: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 52 Mexico: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 53 Mexico: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 54 Brazil: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 55 Brazil: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)
Table 56 Argentina: Seismic Support Vessels Market, by Application, 2019-2032 (USD Billion)
Table 57 Argentina: Seismic Support Vessels Market, by Dimension, 2019-2032 (USD Billion)

List of Figures

Figure 1 Global Seismic Support Vessels Market, 2019-2032 (USD Billion)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
Figure 4 Market by Geography
Figure 5 Porter's Five Forces
Figure 6 Market by Application
Figure 7 Global Seismic Support Vessels Market, by Application, 2022 & 2032 (USD Billion)
Figure 8 Market by Dimension
Figure 9 Global Seismic Support Vessels Market, by Dimension, 2022 & 2032 (USD Billion)
Figure 10 Seismic Support Vessels Market Assessment, By Geography, 2019-2032 (USD Billion)
Figure 11 Strategic Analysis - Seismic Support Vessels Market