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Premium Report Details
Base Year: 2024
Companies covered: 18
Tables & Figures: 21
Countries covered: 18
Pages: 135
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Geophysical Services Market
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Geophysical Services Market Size
The global geophysical services market was valued at USD 15.8 billion in 2024 and is estimated to reach the value of USD 29.3 billion by 20234, growing at a CAGR 6.3% from 2025 to 2034, propelled by advances in exploration activities of petroleum and gas, mining, and renewable energy extraction.
The development of new technologies including seismic imaging and electromagnetic surveying allows more accurate data and high-quality imaging of the subsurface. Environment and infrastructure development government spending also helps in the development of the market. The ASCE attributed advancements over the past four years to the USD 1.2 trillion Infrastructure Investment and Jobs Act, enacted in 2021, which allocates USD 550 billion over five years to bridges, roads, broadband, water, and energy systems.
Oil price fluctuations affect exploration budgets and service demand. The integration of autonomous systems and AI in geophysical data processing improves operational efficiency and reduces operational costs. In 2023, the European Climate, Infrastructure, and Environment Executive Agency (CINEA) successfully selected 34 projects for grants under Horizon Europe Mission calls and budgeted USD 318.88 million, which complements the service adoption.
The strategic focus on sustainable resources exploration along with the development of offshore wind energy is opening new sectors in the market. Corporations are actively seeking new strategic partnerships, mergers, or new technology to solidify their market presence.
Geophysical Services Market Trends
Geophysical Services Market Analysis
Geophysical Services Market Share
In geophysical services industry, the leading six firms are SLB, CGG, PGS, TGS, Fugro and China Oilfield Services Limited (COSL), collectively having a market share more than 40% for the year 2024. These companies serve the oil & gas, mining, and renewable energy industries with the services of seismic data acquisition, data processing, and geophysical surveying. Their market leadership stems from technological capabilities, global operations, and strategic collaborations.
SLB through its extensive geography, sophisticated seismic equipment, and existing clientele in oil and gas exploration industry, dominates the market for geophysical services. The company has focused on the areas of AI-based data processing, high-resolution seismic imaging, and comprehensive evaluation of subsurface resources.
Such ongoing research, along with acquisitions and partnerships, help strengthen the company’s position in both conventional and new energy markets. In October 2024, SLB in conjunction with Viridien finished offshore data capture in Australia, which improved the quality of seismic imaging in regard to energy exploration.
Geophysical Services Market Companies
Major players operating in the geophysical services market are:
Geophysical Services Industry News
This geophysical services market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2034, for the following segments:
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Market, By Technology
Market, By Survey Type
Market, By End Use
The above information has been provided for the following regions and countries: