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The Global Geophysical Services Market is forecast to grow to $ 16.2 billion by 2024 on account of increasing investments in mining and oil & gas exploration activities. Moreover, the demand for geophysical services for mineral extraction is expected to increase on account of the environmental regulations imposed by governments of several countries. High demand for geophysical data acquisition services and increase in investments in the mining sector for geophysics are anticipated to propel the geophysical services market during the forecast period. Additionally, revival in crude oil prices would further fuel the growth of the Global Geophysical Services Market over the next five years.Speak directly to the analyst to clarify any post sales queries you may have.
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The Global Geophysical Services Market is segmented based on technology, type, services, end-user, region and company. Based on technology, the market can be segmented into Seismic, Magnetic, Gravity, Electromagnetics, LIDAR, Ground Penetrating and Others. The Seismic technology segment is projected to register the highest CAGR during forecast period owing to its widespread use in oil & gas industry. Seismic services help the oil and gas companies to make critical exploration and reservoir decisions. Based on type, the market can be bifurcated into Aerial Based Survey and Land Based Survey. The land-based surveys are expected to dominate the market during forecast period attributable to the increase in demand for seismic surveys in the oil & gas industry. Additionally, land-based surveys play a vital role in exploration and extraction of various minerals. Based on end-user, the market can be categorized into Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration and Others. The minerals & mining segment is expected to hold a substantial market share during the forecast period on account of increasing investments in the mining industry.
Regionally, the geophysical services market is gaining traction and expanding to various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America region is expected to dominate the overall geophysical services market followed by Asia-Pacific, Europe, Middle East and Africa, and South America.
The major players operating in the geophysical services market are EON Geosciences Inc., Dawson Geophysical Inc., Geotech Ltd., Compagnie Générale de Géophysique (CGG), TGS-NOPEC Geophysical Company L.P., Spectrum Geo Inc., Geophysical Survey Systems, Inc., Sea Geo Surveys Pvt Ltd, ION Geophysical Corporation, Phoenix Geophysics Limited and others. Major companies are developing advanced technologies in order to stay competitive in the market.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the market size of the Global Geophysical Services Market.
- To classify and forecast the Global Geophysical Services Market based on technology, type, services, end-user, and company and regional distribution.
- To identify drivers and challenges for the Global Geophysical Services Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Geophysical Services Market.
- To conduct pricing analysis for the Global Geophysical Services Market.
- To identify and analyze the profile of leading players operating in the Global Geophysical Services Market.
Both primary as well as exhaustive secondary research was performed for this study. Initially, They sourced a list of geophysical service providers across the globe. Subsequently, researchers conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, they could include geophysical service providers which could not be identified due to the limitations of secondary research. The author analyzed the geophysical service providers, equipment manufacturers, distribution channels and presence of all major players across the globe.
Researchers calculated the market size of the Global Geophysical Services Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. They sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Geophysical service providers and geophysical equipment manufacturers
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to geophysical services
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as geophysical service providers, equipment manufacturers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
Report Scope:
In this report, the Global Geophysical Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By Technology:
- Seismic
- Magnetic
- Gravity
- Electromagnetics
- LIDAR
- Ground Penetrating
- Others
Market, By Type:
- Aerial-based Survey
- Land-based Survey
Market, By Services:
- Data Processing
- Data Interpretation
- Data Acquisition
Market, By End-User Industry:
- Agriculture
- Environment
- Minerals & Mining
- Oil & Gas
- Water Exploration
Market, By Region:
- North America
- United States
- Mexico
- Canada
- Asia-Pacific
- China
- India
- Indonesia
- Malaysia
- Thailand
- Europe
- Germany
- Denmark
- United Kingdom
- Norway
- Russia
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Nigeria
- South America
- Brazil
- Argentina
- Chile
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Geophysical Services Market.
Available Customizations:
With the given market data, the author offers customizations according to a client’s specific needs.
Table of Contents
1. Product Overview2. Research Methodology3. Executive Summary4. Voice of Customer12. Market Trends & Developments
5. Global Geophysical Services Market Outlook
6. North America Geophysical Services Market Outlook
7. Asia Pacific Geophysical Services Market Outlook
8. Europe Geophysical Services Market Outlook
9. Middle East and Africa Geophysical Services Market Outlook
10. South America Geophysical Services Market Outlook
11. Market Dynamics
13. Competitive Landscape
14. Strategic Recommendations
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- EON Geosciences Inc.
- Dawson Geophysical Inc.
- Geotech Ltd.
- Compagnie Générale de Géophysique (CGG)
- TGS-NOPEC Geophysical Company L.P.
- Spectrum Geo Inc.
- Geophysical Survey Systems, Inc.
- Sea Geo Surveys Pvt Ltd
- ION Geophysical Corporation
- Phoenix Geophysics Limited
