Market NEWS: The hydrographic
survey equipment market is projected to grow from USD 2.07 Billion in 2016 to
USD 2.74 Billion by 2022, at a CAGR of 5.39% from 2017 to 2022 during the
forecast period.
The hydrographic
survey equipment market is projected to grow from USD 2.07 Billion in 2016
to USD 2.74 Billion by 2022, at a CAGR of 5.39% from 2017 to 2022 during the
forecast period. The base year considered for the study is 2016 and the
forecast period is from 2017 to 2022.
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Among types, the
unmanned vehicles segment is estimated to account for the largest share in the
hydrographic survey equipment market in 2017. Growth in the unmanned vehicles
segment is attributed to the increased demand for unmanned vehicles from the
commercial sector, owing to their application for deep water exploration and
production activities, drilling support and pipeline inspection, and
hydrographic surveys.
Among depths, the shallow water segment is
estimated to account for the largest share in the hydrographic survey equipment
market in 2017. The shallow water basins in North America, Europe, Asia
Pacific, and the Middle East are expected to play a key role in driving the
hydrographic survey equipment market.
Among applications, the offshore
oil & gas survey segment is estimated to account for the largest share in
the hydrographic survey equipment market in 2017. Increasing investments in
offshore oil & gas exploration activities by emerging economies, such as
India, China, South Korea, and Brazil is driving the hydrographic survey
equipment market.
Among end users, the commercial
segment is projected to be the fastest-growing market during the forecast
period in the hydrographic survey equipment market. Increase in dredging
operations, pipeline & cable laying, oil & gas exploration, offshore
surveys, and drilling activities by commercial companies is expected to drive
this segment.
Know more about the Global Market:
North America is estimated to
account for the largest share in the hydrographic survey equipment market in
2017, which includes the US and Canada. The US is leading the market for
hydrographic survey equipment in North America. Factors responsible for the
leading position of North America are the extensive use of hydrographic survey
equipment in dredging, subsea research activities, and oil and gas exploration
in the region.
However, factors including the
high costs associated with carrying out hydrographic surveys and lack of
technical expertise in undertaking hydrographic surveys is expected to restrain
the growth of the hydrographic survey equipment market in the near future.
Issues related to the management of the high volume of survey data is a key
challenge in the growth of the hydrographic survey equipment market.
The types of hydrographic survey
equipment offered by various companies in the market have been listed in this
report. The recent developments section of the report lists the latest and
important developments by companies in the hydrographic survey equipment market
between 2014 and 2017. The major players
in the hydrographic survey equipment market are Kongsberg Maritime (Norway),
Teledyne Technologies (US), INNOMAR Technologie GmbH (Germany), Edgetech (US),
Sonardyne International (UK), iXblue SaS (France), and SyQwest Inc. (UK), among
others. New product launches and contracts accounted for a major share of
all the growth strategies adopted by leading players in the hydrographic survey
equipment market.
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