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Asia Pacific Seismic Services Market Size - By Survey Type (Land Based, Marine based), By End User (Oil & gas, Mining), Country Outlook & Forecast, 2024 – 2032

  • Report ID: GMI8888
  • Published Date: Apr 2024
  • Report Format: PDF

Asia Pacific Seismic Services Market Size

Asia Pacific Seismic Services Market was valued at USD 1.8 billion in 2023 and is anticipated to grow at a CAGR of 7% between 2024 and 2032. Increasing exploration and production activities in oil and gas reserves drive the demand for seismic services. Additionally, advancements in technology, particularly in seismic imaging and data processing, enhance the efficiency and accuracy of exploration efforts.
 

Asia Pacific Seismic Services Market

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Governmental initiatives and schemes to boost investments in infrastructure development, particularly in emerging economies, spur demand for geological surveying and site characterization services, further fuelling market growth in the region.
 

Asia Pacific Seismic Services Market Trends

In the Asia-Pacific region, seismic services market trends include a shift towards digitalization and advanced technologies such as AI and machine learning for enhanced data interpretation. Increased focus on sustainable practices drives demand for eco-friendly seismic solutions. Rising exploration activities in emerging economies contribute to market growth, particularly in oil and gas sectors. Additionally, infrastructure development projects and growing investments in renewable energy sources fuel demand for geological surveys. Strategic collaborations and mergers among key players are observed to strengthen market presence and expand service offerings.
 

Asia Pacific Seismic Services Market Analysis

Asia Pacific Seismic Services Market Size, By Survey Type, 2022 - 2032 (USD Billion)
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Segmented by survey type, the market in the Asia Pacific region is divided into land-based and marine-based surveys. Land-based seismic surveys constitute a significant share of the market and are expected to surpass USD 1.9 billion by 2032, driven by expanding energy exploration and infrastructure development. Technological advancements in seismic imaging and data analytics are enhancing efficiency and accuracy, further fueling market demand. With rising demand for energy and infrastructure in the region, the Asia-Pacific seismic services market is projected to continue its upward trajectory, offering lucrative opportunities for key industry players and stakeholders.
 

Asia Pacific Seismic Services Market Share, By End User, 2023
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Based on end user, the oil and gas industry will register over 6.5% CAGR up to 2032. This growth is fueled by ongoing exploration and production activities, necessitating advanced seismic services for resource identification and extraction efficiency. Moreover, technological advancements and substantial investments in infrastructure development contribute to the increasing demand for seismic services, driving market expansion. These factors collectively indicate a robust trajectory for the seismic service market in the Asia Pacific region, with significant growth potential in the coming years.
 

China Seismic Services Market Size, 2022 – 2032 (USD Million)
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The China seismic services market valuation to cross USD 1.3 billion by 2032. This substantial growth can be attributed to several factors including the increasing demand for energy resources, which necessitates enhanced exploration activities, driving the need for seismic services. Technological advancements, including 3D seismic imaging and data analytics, are enabling more accurate and efficient exploration processes. Additionally, initiatives aimed at boosting domestic oil and gas production further contribute to the market's expansion, fostering a conducive environment for seismic service providers.
 

Asia Pacific Seismic Services Market Share

Asia Pacific Seismic Services Company Market Share Analysis, 2023

China Oilfield Services Limited (COSL) stands out as one of the top players in the APAC seismic services. With its extensive experience, advanced technology, and substantial regional presence, COSL consistently delivers high-quality seismic solutions. Its comprehensive range of services, coupled with a strong focus on innovation and efficiency, solidifies its position as a leader in the industry across the Asia Pacific region.
 

Asia Pacific Seismic Services Market Companies

Some of the major key players operating across the Asia Pacific seismic services industry are:

  • ASIAN ENERGY SERVICES LTD
  • CGG
  • China Oilfield Services Limited
  • EGS (International) Ltd
  • Fugro
  • Getech Group plc
  • Halliburton
  • PGS
  • Ramboll Group A/S
  • SAExploration
  • Seismic Asia Pacific
  • SLB
  • Terrex Seismic
  • TGS
  • Weatherford
     

Asia Pacific Seismic Services Industry News

  • In February 2023, Schlumberger acquired Gyrodata, specialists in survey tech and wellbore positioning. This bolstered SLB's Well Construction arm, offering advanced drilling solutions. Integrating Gyrodata's gyroscopic measurements enhances wellbore precision, especially in tough terrains. The collaboration aims for better trajectory control, streamlined data acquisition, and improved drilling efficiency.
     
  • In January 2022, TGS entered a strategic collaboration with WesternGeco, SLB’s geophysical services product line. The collaboration involved the continuation of an offset ocean-bottom node of acquisition in the Green Canyon region of the U.S. Gulf of Mexico. WesternGeco was responsible for data processing & imaging. The project focused on enhancing inversion velocity model building.
     

Asia Pacific seismic services market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:

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Market, By Survey Type

  • Land Based
  • Marine Based

Market, By End User

  • Oil & Gas
  • Mining
  • Others

The above information has been provided for the following countries:

  • China
  • Japan
  • India
  • Australia

 

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific market for seismic services was worth over USD 1.8 billion in 2023 and will record 7% CAGR during 2024 and 2032, due to advancements in seismic technology and rising investments in infrastructure projects.
The land-based surveys segment in the Asia Pacific seismic services industry is estimated to reach 1.9 billion through 2032, driven by the extensive landmass and diverse geological landscapes of the region, necessitating thorough seismic exploration for oil and gas reserves.
China seismic services industry will cross USD 1.3 billion by 2032, owing to extensive exploration and production activities in oil & gas.
Leading Asia Pacific seismic services industry players are ASIAN Energy Services Ltd, CGG, China Oilfield Services Limited, EGS (International) Ltd, Fugro, Getech Group plc, Halliburton, PGS, Ramboll Group A/S, SAExploration, Seismic Asia Pacific, SLB, Terrex Seismic, TGS, Weatherford, among others.

Asia Pacific Seismic Services Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 90
  • Countries covered: 4
  • Pages: 105
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