Geophysical Services Market Report 2026

The geophysical services market size has grown steadily in recent years. It will grow from $14.24 billion in 2025 to $14.58 billion in 2026 at a compound annual growth rate (CAGR) of 2.4%. The growth in the historic period can be attributed to expansion of oil and gas exploration activities, increasing mineral resource exploration, growth in infrastructure development projects, rising demand for subsurface risk assessment, availability of advanced geophysical instruments.

The geophysical services market size is expected to see steady growth in the next few years. It will grow to $16.75 billion in 2030 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to increasing investments in renewable energy site assessments, growing focus on environmental monitoring, expansion of smart infrastructure projects, rising adoption of automated survey technologies, increased use of geophysics in climate studies. Major trends in the forecast period include increasing use of advanced seismic imaging technologies, rising adoption of remote sensing and lidar surveys, growing integration of ai-based data interpretation, expansion of multi-method geophysical surveys, enhanced focus on environmental and hazard assessments.

The growing demand within the oil and gas industry is expected to drive the expansion of the geophysical services market in the coming years. The oil and gas industry represents a segment of the global economy focused on exploring, extracting, refining, and distributing hydrocarbon-based energy resources such as crude oil and natural gas. Geophysical services play a crucial role in this sector by enabling surveys, assessing subsurface characteristics, locating viable drilling sites, improving exploration efficiency, and supporting effective resource recovery. For example, in October 2023, the U.S. Energy Information Administration (EIA), a U.S.-based government agency, reported that global liquid fuel output - including crude oil and other liquids - is projected to rise by 1.3 million barrels per day in 2023 and by 0.9 million barrels per day in 2024. Therefore, the rising demand associated with the oil and gas industry is fueling the growth of the geophysical services market.

Major players in the geophysical services market are actively concentrating on advancing their processing and imaging capabilities. Innovations in processing and imaging centers are key to enhancing geophysical services, involving the utilization of specialized facilities equipped with cutting-edge technology and software for analyzing, processing, and creating visual representations from raw data. In a notable example, Shearwater GeoServices, a Norwegian company specializing in modern fleet and software solutions, inaugurated its Kuala Lumpur processing and imaging center in May 2023. This center is equipped with state-of-the-art technology, including Shearwater Reveal and innovative seismic data processing software and services. The objective is to deliver unparalleled support to the oil and gas industry, particularly in the exploration and production of hydrocarbon resources. This strategic focus on technological advancements underscores the commitment of major companies to stay at the forefront of geophysical services.

In December 2023, PXGEO, a US-based provider of marine geophysical services, acquired AmpSeis for an undisclosed amount. This acquisition represents a key advancement in PXGEO's strategy to position itself as a technology leader within the ocean bottom seismic industry, strengthening its access to vital technologies for seismic data acquisition. AmpSeis is a Norway-based geophysical company specializing in seismic data acquisition.

Major companies operating in the geophysical services market include BGP Inc., Schlumberger Limited, Halliburton Company, Geotech Surveys International Limited, Sea Geo Surveys Pvt. Ltd., COSL China Oilfield Services Limited, Ramboll Group A/S, CGG SA, Polarcus Limited, Paradigm, TGS Geophysical Company Limited, Sercel SA, Geokinetics Inc., Dawson Geophysical Services Inc., Phoenix Geophysics Ltd., EMGS ASA, Geophysical Survey Systems Inc., IG Seismic Services Ltd., SeaBird Exploration ASA, SA Exploration Holdings Inc., Fugro N.V., GeoEx Ltd., Geospace Technologies Corporation, DMT GmbH & Co. KG, ION Geophysical Corporation, New Resolution Geophysics Inc., Petroleum Geo-Services ASA, EON Geosciences Inc., IRIS Instruments, Dolphin Geophysical AS, Geophysics Ltd., Geophysical Research Company LLC

North America was the largest region in the geophysical services market in 2025. Western Europe was the second largest region in the global geophysical services market share. The regions covered in the geophysical services market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the geophysical services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The geophysical services market consists of revenue earned by entities by providing services such as locating and measuring the extent of subsurface resources, such as oil, gas, and minerals, and also conducting surveys for engineering purposes. The surveying techniques include magnetic surveys, gravity surveys, seismic surveys, or electrical and electromagnetic surveys. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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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