Seismic Survey Market Report 2025

The seismic survey market size has grown strongly in recent years. It will grow from $9.84 billion in 2024 to $10.4 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increased demand for efficient exploration techniques, increased adoption in the oil and gas sector, increased use in the mining industry, growth in the geological exploration industries, infrastructure investments.

The seismic survey market size is expected to see strong growth in the next few years. It will grow to $13.07 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to the increasing focus on energy efficiency, growing environmental concerns, depleting reserves and exploration needs, increasing demand for renewable energy, increased adoption of automated and unmanned survey vehicles. Major trends in the forecast period include technological breakthroughs in oil and gas extraction, advancement in seismic technologies, development of eco-friendly seismic survey technologies and equipment, strategic partnerships, advanced solution launches.

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 rising demand for energy is significantly driving the growth of the seismic survey market. Energy refers to power that is used or can be converted into work. Seismic surveys are the primary method for identifying and characterizing energy resource reservoirs, particularly offshore. For example, in June 2023, the Energy Information Administration, a US government agency, reported that renewable energy consumption rose to 13.2 quads in 2022, up from 12.1 quads in 2021 in the United States. Therefore, the growing demand for energy will continue to propel the seismic survey market forward.

Major companies in the seismic survey market are concentrating on developing innovations, such as advanced processing techniques, to improve imaging quality and provide detailed insights into subsurface structures. Advanced processing techniques refer to sophisticated methods employed across various industries to enhance efficiency, quality, and precision in production processes. For instance, in July 2024, TGS, a US-based advanced data and intelligence company, launched a new seismic survey in the Seram Basin, Indonesia, aiming to acquire over 1,800 kilometers of 2D seismic data. This survey will utilize advanced processing techniques like PSTM, PSDM, and FWI to enhance subsurface imaging. The project focuses on imaging beneath shallow carbonates in the Seram thrust belt, indicating active petroleum systems. This marks the fifth seismic survey in the region for the year.

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 include 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 2024. 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.

A seismic survey is a geophysical exploration method that aims to measure the earth's characteristics by utilizing physical principles such as electric, magnetic, thermal, gravitational, and elastic theories. It relies on the concept of elasticity and seeks to determine the elastic properties of materials by observing their reactions to seismic (elastic) waves, which are disturbances in elasticity.

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.

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