Market size for Seismic Survey was USD 20.88 Billion in 2022 and expected to reach USD 30.15 Billion by 2030 with a CAGR of 4.7% from 2023-2030.
The Seismic Survey Market is expected to be propelled by the application of seismic technology in brownfield development and shale gas exploration, increased demand for oil & gas, and technological advancements in this field. The Global Seismic Survey Market report gives a complete assessment of the market. The report gives an exhaustive analysis of the major segments, trends, drivers, restraints, competitive scenario, and factors contributing significantly to the market.
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Global Seismic Survey Market Overview
Seismic Survey Market is expected to expand in the coming years based on the utilization of seismic technologies in brownfield projects and shale gas development. The market is also expected to grow in subsequent years based on this industry’s increasing demand for oil and gas and technological advancements.
The benefits of seismic survey are also set to propel the market over the forecast period, such as reducing the risk of drilling dry wells, which would halt future drilling, and lowering the environmental impact of oil and gas development. Some challenges and constraints will deter the market from growth. Government regulations on seismic surveys, such as 2013 European Union regulations 2013 SI 134 that assess the environmental footprint of petroleum development, will likely limit the industry.
Global Seismic Survey MarketSegmentation Analysis
The Global Seismic Survey Market is segmented on the basis of Technology, Service, and Geography.
Seismic Survey Market, By Technology
2D imaging
3D imaging
4D imaging
On the basis of Technology, The market is divided into 2D imaging, 3D imaging, and 4D imaging. The 3D imaging segment is expected to hold the largest share in the Global Seismic Survey Market due to its use in problem-solving and uncertainty-reduction methods for exploration, development, and production operations, and the reasons can be attributed to its growing demand. Also, it accelerates the process of data gathering, analysis, and interpretation.
Seismic Survey Market, By Service
Data Acquisition
Data Processing
Data Interpretation
On the Basis of Service, The market is divided into Data Acquisition, Data Processing, and Data Interpretation. The Data Acquisition segment is expected to lead the Seismic Survey Market. Data acquisition is collecting and storing seismic data from the interior of the Earth. Seismic surveys are conducted to understand the geological structures and underlying features. This information is critical to many companies, especially geological research, geothermal energy exploration, and oil and gas exploration.
Seismic Survey Market, By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Based on Regional Analysis, Global Seismic Survey Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Middle East and Africa will dominate the largest market. Increased offshore exploration across regions like offshore West Africa, where there are numerous untapped resources, is taking place throughout the Middle East, and there are opportunities in Africa for oil and gas development companies. For this reason, the seismic services market is likely to be fuelled by explorations in the region.
Key Players
The “Global Seismic Survey Market” research report will give meaningful insight highlighting the global market. The key players in the market include Halliburton Company, CGG SA, PGS ASA, TGS ASA, Schlumberger NV, New Resolution Geophysics (NRG), Geokinetics, Fugro N.V., Pulse Seismic, Inc., Dawson Geophysical Company, Geospace Technologies Corporation, Seabird Exploration, PLC, Agile Seismic, LLC, Ion Geophysical Corporation, Saexploration Holding, Inc., Alpine Ocean Seismic Survey, Inc., Global Geophysical Services, Inc.
Our market study also includes a segment exclusively focused on such key players where our researchers give an insight into the financial reports of all the key players, along with product benchmarking and SWOT analysis.
Major Developments
In February 2022, ADNOC announced the discovery of 1.5 to 2 trillion standard cubic feet of gas in an offshore area in the Northwest of the Emirate.
In March 2022, Santos, a drilling and production company, engaged Shearwater GeoServices to perform two multicomponent surveys offshore Western Australia. The Keraudren North Extension in the Bedout Basin, an area of approximately 680 sq. km, and the Petrel Sub-Basin 3D survey, an area of approximately 1,100 sq. km, are encompassed by the two-month program
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Ace Matrix Analysis
The Ace Matrix given in the report would assist us in knowing how the key players of this industry are performing as we give a ranking to these companies on several parameters like service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these parameters, we classify the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
