Global Geophysical Services Market Outlook, Opportunities And Strategies
Learn about the global geophysical services market through The Business Research Company, which provides information on geophysical services market size, geophysical services market drivers and restraints, geophysical services market players, the COVID-19 impact on the geophysical services market, and more.
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The global geophysical services market is expected to grow from $12.80 billion in 2021 to $13.39 billion in 2022 at a compound annual growth rate (CAGR) of 4.6%. The growth in the geophysical services market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The geophysical services market is expected to reach $15.14 billion in 2026 at a CAGR of 3.1%.
Growing exploration activities is expected to drive innovation in geophysical services manufacturing, thus driving the market during the forecast period.
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The geophysical services market consists of the sales of geophysical services and related goods by entities (organizations, sole traders and partnerships) that locate and measure the extent of subsurface resources, such as oil, gas, and minerals, and also conduct surveys for engineering purposes. The surveying techniques include magnetic surveys, gravity surveys, seismic surveys, or electrical and electromagnetic surveys. Only goods and services traded between entities or sold to end consumers are included.
Global Geophysical Services Market Segments Include:
By Survey Type: Land, Marine, Aerial
By Technology: Seismic, Magnetic, Gravity, Electromagnetic, Lidar, Ground Penetrating, Others
By Application: Road, Rail, Port, Airport, Pipeline, Others
By End User: Agriculture, Environment, Minerals And Mining, Oil And Gas, Water Exploration, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Geophysical service providers are using drones for conducting aerial geophysical surveys. Estimating the variety of key physical or geochemical boundaries of the earth by means of air is conducted through aerial/airborne geophysical surveying. Drones used for surveying are equipped with a magnetometer and other sensors such as electromagnetic, gamma-ray, spectrometry, magnetic, and gravity to get clear and productive results of the survey.
TBRC’s geophysical services market report covers:
Major Market Players: Schlumberger, TGS Geophysical Company (UK) Ltd, CGG Geoscience company, Ion Geophysical, Polarcus Ltd, Geokinetics, Halliburton Company, Dawson Geophysical Services, EON Geosciences Inc., Geophysical Survey Systems Inc., Phoenix Geophysics, Sea Geo Surveys Pvt Ltd., Spectrum Geophysics, Geotech Survey, P.G.S., BGP Inc., Fugro, SA Exploration, Seabird Exploration, EMGS, Geospace Technologies, COSL-China Oilfield Services Limited, New Resolution Geophysics (NRG), Paradigm, Ramboll Group AS, Sercel SA, IRIS Instruments, DMT Gmbh and Co.KG., Petroleum Geo Services, Geoex Ltd and IG Seismic Services.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Geophysical Services Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides geophysical services market overviews, analyses and forecasts market size, share, geophysical services market players, geophysical services market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s geophysical services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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