The seismic survey market size has grown strongly in recent years. It will grow from $9.35 billion in 2023 to $9.93 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be attributed to the increased demand for efficient exploration techniques, greater adoption in the oil and gas sector, increased utilization in the mining industry, growth in the geological exploration industries, and investments in infrastructure.
The seismic survey market size is expected to see strong growth in the next few years. It will grow to $12.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to the increasing focus on energy efficiency, growing environmental concerns, depleting reserves and exploration needs, the rising demand for renewable energy, and increased adoption of automated and unmanned survey vehicles. Key trends expected in the forecast period include technological breakthroughs in oil and gas extraction, advancements in seismic technologies, the development of eco-friendly seismic survey technologies and equipment, strategic partnerships, and the launch of advanced solutions.
The seismic survey market is anticipated to experience growth due to the increasing demand for oil and gas. Oil and gas, essential natural resources utilized for energy and fuel, rely significantly on seismic surveys for exploration. This technique involves imaging the earth's subsurface by capturing seismic wave vibrations, enabling the monitoring of oil and gas fields and optimizing production. In July 2023, the U.S. Energy Information Administration predicts a rise in U.S. crude oil production to 12.6 million barrels per day (b/d), surpassing the 2022 record of 11.89 million b/d. Additionally, the International Energy Agency reported that the U.S. consumed 86.6 billion cubic feet of natural gas per day in 2022, the highest annual consumption compared to the previous year, emphasizing the seismic survey market's growth driven by the escalating need for oil and gas.
The seismic survey market is further propelled by the surging demand for energy. As energy, the power capable of transformation into work, sees a 15 percent increase in demand between 2021 and 2050, seismic surveys play a crucial role in locating and characterizing energy resource reservoirs, particularly offshore. ExxonMobil's 2023 data projects this demand escalation, affirming the seismic survey market's growth driven by the heightened energy requirements.
The seismic survey market is witnessing a rise in the adoption of advanced seismic technologies, emerging as a prominent trend. Leading players in the seismic survey sector are actively engaged in the development of groundbreaking technologies to maintain their market standing. As an illustration, in October 2021, Shearwater GeoServices, a Norwegian company specializing in the creation and development of seismic survey technologies, introduced Harmony, a novel seismic source technology tailored for marine surveys. Harmony, an innovative solution, is crafted to enhance subsurface characterization in marine surveys. It offers augmented low frequencies in seismic surveys, enabling more informed decision-making in applications such as development, exploration, carbon capture, and monitoring. The technology facilitates deeper seismic image processing, providing more precise representations of the earth's subsurface and accurate calculations of reservoir parameters for both 3D and 4D applications. Shearwater is committed to widespread accessibility of Harmony, leveraging its extensive fleet of vessels to introduce and integrate this technology for clients across diverse locations.
Prominent entities in the seismic survey market are actively concentrating on the development of 3D seismic technology to deliver dependable services to their clientele. Recognized as a potent tool, 3D seismic technology is employed to generate high-resolution, three-dimensional depictions of the Earth's subsurface. For instance, in December 2023, Ukrnafta, a Ukraine-based natural gas company, initiated 3D seismic surveys in the western regions of Ukraine. Marking the first utilization of a wireless data logging system for 3D seismic surveys in the country, Ukrnafta employs seismic waves generated underground by powerful vibrator machines above ground. The waves are reflected by rocks with specific parameters, and data is collected on the surface through an extensive network of specialized seismic sensors known as geophones. The project involves the deployment of 20,000 receiver sensors, three seismic vibrators, and explosive sources to cover an 80 square meter area.
In June 2022, Ocean Floor Geophysics Inc., a Canadian firm specializing in seismic surveys, completed the acquisition of NCS SubSea Inc. for an undisclosed sum. This strategic move by Ocean Floor Geophysics Inc. aims to secure access to P-Cable technology, fortify its position in the seismic data acquisition market, and expand its geographical footprint. NCS SubSea Inc., based in the United States, is recognized for providing ultrahigh resolution (UHR) 2D/3D/4D marine seismic survey and navigation support services.
Major companies operating in the seismic survey market report are China National Petroleum Corporation, Schlumberger Limited (SLB) Limited, Fugro N.V., CGG SA, Petroleum Geo-Services ASA, Terra Seis Group, TGS Nopec Geophysical ASA, Shearwater Geoservices Limited, Global Geophysical Services Inc., SAExploration Inc., Spectrum ASA, ION Geophysical Corporation, Fairfield Industries Incorporated, Geospace Technologies Corp., Katalyst Data Management LLC, Geokinetics Inc., Dawson Geophysical Co., Terrex Seismic, NodalSeismic LLC, TerraSond Limited, SeaBird Exploration Plc., Pulse Seismic Inc., Axxis Geo Solutions ASA, Alpine Ocean Seismic Survey Inc., Dolphin Geophysical AS, EON Geosciences Inc., Explor, Lone Star Land Surveying and Mapping, New Resolution Geophysics (NRG), Agile Seismic LLC.
North America was the largest region in the seismic survey market in 2023. The regions covered in the seismic survey market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the seismic survey market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The main types of seismic surveys include reflection, refraction, and surface waves. Reflection involves the process of a spreading wave (light or sound) bouncing back off a surface. Seismic survey services encompass data interpretation, data processing, and data acquisition. These surveys can be conducted both offshore and onshore, utilizing various technologies such as 2D imaging, 3D imaging, and 4D imaging. They find applications in diverse fields including oil and gas exploration, geological studies, mining, and other related areas.
The seismic survey market research report is one of a series of new reports that provides seismic survey market statistics, including seismic survey industry global market size, regional shares, competitors with a seismic survey market share, detailed seismic survey market segments, market trends and opportunities, and any further data you may need to thrive in the seismic survey industry. This seismic survey market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The seismic survey market consists of revenues earned by entities by providing services such as borehole seismic surveys, multi-client acquisition surveys, seismic consulting, interpretation, seismic data visualization, and seismic data processing. The market value includes the value of related goods sold by the service provider or included within the service offering. The seismic survey market also includes sales of recording systems, data interpretation tools, seismic sensors, and the seismic acquisition system. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The seismic survey market size is expected to see strong growth in the next few years. It will grow to $12.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to the increasing focus on energy efficiency, growing environmental concerns, depleting reserves and exploration needs, the rising demand for renewable energy, and increased adoption of automated and unmanned survey vehicles. Key trends expected in the forecast period include technological breakthroughs in oil and gas extraction, advancements in seismic technologies, the development of eco-friendly seismic survey technologies and equipment, strategic partnerships, and the launch of advanced solutions.
The seismic survey market is anticipated to experience growth due to the increasing demand for oil and gas. Oil and gas, essential natural resources utilized for energy and fuel, rely significantly on seismic surveys for exploration. This technique involves imaging the earth's subsurface by capturing seismic wave vibrations, enabling the monitoring of oil and gas fields and optimizing production. In July 2023, the U.S. Energy Information Administration predicts a rise in U.S. crude oil production to 12.6 million barrels per day (b/d), surpassing the 2022 record of 11.89 million b/d. Additionally, the International Energy Agency reported that the U.S. consumed 86.6 billion cubic feet of natural gas per day in 2022, the highest annual consumption compared to the previous year, emphasizing the seismic survey market's growth driven by the escalating need for oil and gas.
The seismic survey market is further propelled by the surging demand for energy. As energy, the power capable of transformation into work, sees a 15 percent increase in demand between 2021 and 2050, seismic surveys play a crucial role in locating and characterizing energy resource reservoirs, particularly offshore. ExxonMobil's 2023 data projects this demand escalation, affirming the seismic survey market's growth driven by the heightened energy requirements.
The seismic survey market is witnessing a rise in the adoption of advanced seismic technologies, emerging as a prominent trend. Leading players in the seismic survey sector are actively engaged in the development of groundbreaking technologies to maintain their market standing. As an illustration, in October 2021, Shearwater GeoServices, a Norwegian company specializing in the creation and development of seismic survey technologies, introduced Harmony, a novel seismic source technology tailored for marine surveys. Harmony, an innovative solution, is crafted to enhance subsurface characterization in marine surveys. It offers augmented low frequencies in seismic surveys, enabling more informed decision-making in applications such as development, exploration, carbon capture, and monitoring. The technology facilitates deeper seismic image processing, providing more precise representations of the earth's subsurface and accurate calculations of reservoir parameters for both 3D and 4D applications. Shearwater is committed to widespread accessibility of Harmony, leveraging its extensive fleet of vessels to introduce and integrate this technology for clients across diverse locations.
Prominent entities in the seismic survey market are actively concentrating on the development of 3D seismic technology to deliver dependable services to their clientele. Recognized as a potent tool, 3D seismic technology is employed to generate high-resolution, three-dimensional depictions of the Earth's subsurface. For instance, in December 2023, Ukrnafta, a Ukraine-based natural gas company, initiated 3D seismic surveys in the western regions of Ukraine. Marking the first utilization of a wireless data logging system for 3D seismic surveys in the country, Ukrnafta employs seismic waves generated underground by powerful vibrator machines above ground. The waves are reflected by rocks with specific parameters, and data is collected on the surface through an extensive network of specialized seismic sensors known as geophones. The project involves the deployment of 20,000 receiver sensors, three seismic vibrators, and explosive sources to cover an 80 square meter area.
In June 2022, Ocean Floor Geophysics Inc., a Canadian firm specializing in seismic surveys, completed the acquisition of NCS SubSea Inc. for an undisclosed sum. This strategic move by Ocean Floor Geophysics Inc. aims to secure access to P-Cable technology, fortify its position in the seismic data acquisition market, and expand its geographical footprint. NCS SubSea Inc., based in the United States, is recognized for providing ultrahigh resolution (UHR) 2D/3D/4D marine seismic survey and navigation support services.
Major companies operating in the seismic survey market report are China National Petroleum Corporation, Schlumberger Limited (SLB) Limited, Fugro N.V., CGG SA, Petroleum Geo-Services ASA, Terra Seis Group, TGS Nopec Geophysical ASA, Shearwater Geoservices Limited, Global Geophysical Services Inc., SAExploration Inc., Spectrum ASA, ION Geophysical Corporation, Fairfield Industries Incorporated, Geospace Technologies Corp., Katalyst Data Management LLC, Geokinetics Inc., Dawson Geophysical Co., Terrex Seismic, NodalSeismic LLC, TerraSond Limited, SeaBird Exploration Plc., Pulse Seismic Inc., Axxis Geo Solutions ASA, Alpine Ocean Seismic Survey Inc., Dolphin Geophysical AS, EON Geosciences Inc., Explor, Lone Star Land Surveying and Mapping, New Resolution Geophysics (NRG), Agile Seismic LLC.
North America was the largest region in the seismic survey market in 2023. The regions covered in the seismic survey market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the seismic survey market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The main types of seismic surveys include reflection, refraction, and surface waves. Reflection involves the process of a spreading wave (light or sound) bouncing back off a surface. Seismic survey services encompass data interpretation, data processing, and data acquisition. These surveys can be conducted both offshore and onshore, utilizing various technologies such as 2D imaging, 3D imaging, and 4D imaging. They find applications in diverse fields including oil and gas exploration, geological studies, mining, and other related areas.
The seismic survey market research report is one of a series of new reports that provides seismic survey market statistics, including seismic survey industry global market size, regional shares, competitors with a seismic survey market share, detailed seismic survey market segments, market trends and opportunities, and any further data you may need to thrive in the seismic survey industry. This seismic survey market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The seismic survey market consists of revenues earned by entities by providing services such as borehole seismic surveys, multi-client acquisition surveys, seismic consulting, interpretation, seismic data visualization, and seismic data processing. The market value includes the value of related goods sold by the service provider or included within the service offering. The seismic survey market also includes sales of recording systems, data interpretation tools, seismic sensors, and the seismic acquisition system. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Seismic Survey Market Characteristics3. Seismic Survey Market Trends and Strategies32. Global Seismic Survey Market Competitive Benchmarking33. Global Seismic Survey Market Competitive Dashboard34. Key Mergers and Acquisitions in the Seismic Survey Market
4. Seismic Survey Market - Macro Economic Scenario
5. Global Seismic Survey Market Size and Growth
6. Seismic Survey Market Segmentation
7. Seismic Survey Market Regional and Country Analysis
8. Asia-Pacific Seismic Survey Market
9. China Seismic Survey Market
10. India Seismic Survey Market
11. Japan Seismic Survey Market
12. Australia Seismic Survey Market
13. Indonesia Seismic Survey Market
14. South Korea Seismic Survey Market
15. Western Europe Seismic Survey Market
16. UK Seismic Survey Market
17. Germany Seismic Survey Market
18. France Seismic Survey Market
19. Italy Seismic Survey Market
20. Spain Seismic Survey Market
21. Eastern Europe Seismic Survey Market
22. Russia Seismic Survey Market
23. North America Seismic Survey Market
24. USA Seismic Survey Market
25. Canada Seismic Survey Market
26. South America Seismic Survey Market
27. Brazil Seismic Survey Market
28. Middle East Seismic Survey Market
29. Africa Seismic Survey Market
30. Seismic Survey Market Competitive Landscape and Company Profiles
31. Seismic Survey Market Other Major and Innovative Companies
35. Seismic Survey Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Seismic Survey Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on seismic survey market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for seismic survey? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Reflection; Refraction; Surface-Wave
2) By Service Type: Data Interpretation; Data Processing; Data Acquisition
3) By Deployment: Offshore; Onshore
4) By Technology: 2D Imaging; 3D Imaging; 4D Imaging
5) By Application: Oil and Gas; Geological Exploration; Mining; Other Applications
Key Companies Mentioned: China National Petroleum Corporation; Schlumberger Limited (SLB) Limited; Fugro N.V.; CGG SA; Petroleum Geo-Services ASA
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- China National Petroleum Corporation
- Schlumberger Limited (SLB) Limited
- Fugro N.V.
- CGG SA
- Petroleum Geo-Services ASA
- Terra Seis Group
- TGS Nopec Geophysical ASA
- Shearwater Geoservices Limited
- Global Geophysical Services Inc.
- SAExploration Inc.
- Spectrum ASA
- ION Geophysical Corporation
- Fairfield Industries Incorporated
- Geospace Technologies Corp.
- Katalyst Data Management LLC
- Geokinetics Inc.
- Dawson Geophysical Co.
- Terrex Seismic
- NodalSeismic LLC
- TerraSond Limited
- SeaBird Exploration Plc.
- Pulse Seismic Inc.
- Axxis Geo Solutions ASA
- Alpine Ocean Seismic Survey Inc.
- Dolphin Geophysical AS
- EON Geosciences Inc.
- Explor
- Lone Star Land Surveying and Mapping
- New Resolution Geophysics (NRG)
- Agile Seismic LLC.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 9.93 Billion |
| Forecasted Market Value ( USD | $ 12.25 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
