The Business Research Company’s report on the Seismic Survey Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the seismic survey market’s growth in recent years?
The growing need for oil and gas is expected to propel the growth of the seismic survey market going forward. Oil and gas refer to natural resources extracted from the earth and used as energy and fuel sources. Seismic surveys play a significant role in oil and gas exploration. It is a technique used to image the earth’s subsurface by recording the vibrations caused by seismic waves, monitoring oil and gas fields, and optimizing production. For instance, in July 2023, according to the U.S. Energy Information Administration, a US-based federal statistical system for gathering, processing, and disseminating energy data, there will be an increase in U.S. crude oil production to 12.6 million barrels per day (b/d) in 2023 from the record high of 11.89 million barrels per day in 2022. It is estimated to reach 12.85 million b/d in the year 2024. Furthermore, in September 2022, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, the U.S. consumed an average of 86.6 billion cubic feet of natural gas per day (Bcf/d) in 2022, the highest annual consumption of natural gas in the U.S. as compared to the previous year. Therefore, the growing need for oil and gas is driving the growth of the seismic survey market.
Access Your Free Sample of the Global Seismic Survey Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12654&type=smp
How does the future projection of the seismic survey market size compare to its historical growth?
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.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=12654&type=smp
Which key players are shaping the future of the seismic survey market?
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.
What trends will propel the growth and evolution of the seismic survey market?
Major companies operating in the seismic survey market are focusing on developing innovation, such as advanced processing techniques to enhance imaging quality and provide detailed subsurface insights. Advanced processing techniques refer to innovative and sophisticated methods used in various industries to enhance the efficiency, quality, and precision of production processes. For instance, in July 2024, TGS, a US-based advanced data and intelligence company, launched a new seismic survey aiming to acquire over 1,800 kilometers. A new seismic survey has commenced in the Seram Basin, Indonesia, covering over 1,800 kilometers of 2D seismic data. Advanced processing techniques like PSTM, PSDM, and FWI will be used to improve subsurface imaging. The project focuses on imaging beneath shallow carbonates in the Seram thrust belt, indicating active petroleum systems. This is the fifth seismic survey in the region this year.
Which regions are expected to become dominant players in the seismic survey market?
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
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/seismic-survey-global-market-report
What are the emerging key segments in the seismic survey market, and how are they evolving?
The seismic survey market covered in this report is segmented –
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
Subsegments:
1) By Reflection: 2D Reflection Surveys, 3D Reflection Surveys, Pre-Stack And Post-Stack Analysis
2) By Refraction: Seismic Refraction Surveys, Tomography Techniques, Layered Models And Analysis
3) By Surface-Wave: Rayleigh Wave Analysis, Love Wave Analysis, Multi-Channel Analysis Of Surface Waves
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12654
What defines the structure and scope of the seismic survey market?
A seismic survey refers to a type of geophysical survey that attempts to measure the earth’s characteristics using physical concepts such as electric, magnetic, thermal, gravitational, and elastic theories. It relies on the concept of elasticity and attempts to determine the elastic characteristics of materials by observing how they react to seismic (or elastic) waves, which are elastic disturbances.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
