Global Geophysical Services Market
The Global Geophysical Services Market is expected to grow from US$ 19.41 Billion in 2021 to US$ 28.04 Billion by 2027; it is estimated to grow at a CAGR of 4.4% from 2021 to 2027.
The geophysical services market is composed of businesses (organisations, sole proprietors, and partnerships) that locate and gauge the extent of subsurface resources, such as oil, gas, and minerals, as well as carry out surveys for engineering purposes, sell geophysical services and related products. Magnetic, gravity, seismic, electrical, and electromagnetic surveys are a few of the surveying methods.
Drivers: The fundamental driver of the rise in demand for geophysical services worldwide continues to be rising investment in mining and exploration. The demand for geophysical services is anticipated to increase in the near future due to the rising demand for precious metals including gold, platinum, titanium, and silver. Due to the proven commercial viability of existing onshore oil reserves at a price lower than offshore oil reserves, the oil and gas sector has been placing a focus on onshore areas. Rising investments in geophysical services in the US are mostly due to the country's increased shale gas reserve exploration. Geophysical service providers must supply seismic services and analytical data for the oil and gas industry. Thus, it is anticipated that the worldwide geophysical services market will be driven by an increase in exploration efforts in developed nations like the US throughout the forecast period. The overall market for geophysical services is anticipated to gain from an increase in energy consumption year over year, which will be followed by an increase in budgets for mining exploration.
Impact of Covid-19
The ongoing epidemic had a significant negative impact on the exploration and production (E&P) sector by squeezing supply and upsetting supply systems. Oil and gas prices fell as a result of an increase in supply, which also caused the market to shrink. The market's growth rate has also been slowed down by regulations that different countries have enacted regulating lockdown and restricting people's freedom of movement. Major players had to downsize their workforce or finances in order to continue operating in this competitive market. This reduced the need for geophysical services even more during the course of the predicted period.
Segmentation By Type: Geophysical Services Market is classified on the basis of Type into Aerial-based Survey, Marine-based Survey, and Land-based Survey.
Segmentation By Technology: Geophysical Services Market is classified on the basis of Technology into Seismic, Magnetic, Electromagnetic, Gravity, LIDAR, and Others.
Segmentation By End Use: Geophysical Services Market is classified on the basis of End Use into Minerals & Mining, Oil & Gas, Infrastructure, Wind Energy, Water Exploration, Archaeological Research, and Others.
Segmentation By Region: Geophysical Services Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape: There are only a few significant firms operating globally in the geophysical services market, which is consolidated. There are rising new players with customised products that look promising. The ability of the businesses to get new contracts is significantly influenced by price, accuracy, and industry experience. Key services like multi-client geophysical data libraries and geophysical service packages that incorporate them differ from one service provider to another. Fugro, Compagnie Générale de Géophysique (CGG), TGS, Spectrum Geophysics, Atlas Geophysics Pty Ltd., DMT, Phoenix Geophysics, EON Geosciences Inc., GSSI Geophysical Survey Systems, Inc., Sander Geophysics Limited (SGL), and MPX Geophysics Ltd. are a few of the major players in the geophysical services market.
Industrial Development
Market Taxonomy
By Type
By Technology
By End-use
By Region
Key Questions Addressed by the Report
Global Geophysical Services Market TOC
1. Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2. Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sizes
3. Executive Summary
4. Global Geophysical Services Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Challenges
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5. Global Geophysical Services Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.3 Global Geophysical Services Market Size and Forecast, By Type
5.3.1 Aerial-based Survey
5.3.2 Drone Based
5.3.3 Other Conventional
5.3.4 Marine-based Survey
5.3.5 Land-based Survey
6. Global Geophysical Services Market, By Technology
6.1 Y-o-Y Growth Comparison, By Technology
6.2 Global Geophysical Services Market Share Analysis, By Technology
6.3 Global Geophysical Services Market Size and Forecast, By Technology
6.3.1 Seismic
6.3.2 Magnetic
6.3.3 Electromagnetic
6.3.4 Gravity
6.3.5 LIDAR
6.3.6 Others
7. Global Geophysical Services Market, By End Use
7.1 Y-o-Y Growth Comparison, By End Use
7.2 Global Geophysical Services Market Share Analysis, By End Use
7.3.1 Minerals & Mining
7.3.2 Oil & Gas
7.3.3 Infrastructure
7.3.4 Wind Energy
7.3.5 Water Exploration
7.3.6 Archaeological Research
7.3.7 Others
8. Global Geophysical Services Market, By Region
8.1 Global Geophysical Services Market Share Analysis, By Region
8.2 Global Geophysical Services Market Size and Forecast, By Region
8.2 Global Geophysical Services Market Size and Forecast, By Region
9. North America Geophysical Services Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Geophysical Services Market Share Analysis, By Type
9.3 North America Geophysical Services Market Size and Forecast, By Technology
9.4 North America Geophysical Services Market Size and Forecast, By End Use
9.5 North America Geophysical Services Market Size and Forecast, By Country
9.5.1 US
9.5.2 Canada
9.5.3 Mexico
10. Europe Geophysical Services Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Geophysical Services Market Share Analysis, By Type
10.3 Europe Geophysical Services Market Size and Forecast, By Technology
10.4 Europe Geophysical Services Market Size and Forecast, By End Use
10.5 Europe Geophysical Services Market Size and Forecast, By Country
10.5.1 UK
10.5.2 Germany
10.5.3 France
10.5.4 Rest of Europe
11. Asia Pacific Geophysical Services Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Geophysical Services Market Share Analysis, By Type
11.3 Asia Pacific Geophysical Services Market Size and Forecast, By Technology
11.4 Asia Pacific Geophysical Services Market Size and Forecast, By End Use
11.5 Asia Pacific Geophysical Services Market Size and Forecast, By Country
11.5.1 China
11.5.2 India
11.5.3 Japan
11.5.4 South Korea
11.2.5 Rest of Asia Pacific
12 Latin America Geophysical Services Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Geophysical Services Market Share Analysis, By Type
12.3 Latin America Geophysical Services Market Size and Forecast, By Technology
12.4 Latin America Geophysical Services Market Size and Forecast, By End Use
12.5 Latin America Geophysical Services Market Size and Forecast, Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Geophysical Services Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Geophysical Services Market Share Analysis, By Type
12.3 Middle East Geophysical Services Market Size and Forecast, By Technology
13.4 Middle East Geophysical Services Market Size and Forecast, By End Use
13.5 Middle East Geophysical Services Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14. Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15. Company Profiles
15.1 Fugro
15.1. Overview
15.1.2 Offering
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Compagnie Générale de Géophysique (CGG)
15.2.1. Overview
15.2.2 Offering
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. TGS
15.3.1 Overview
15.3.2 Offering
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4. Spectrum Geophysics
15.4.1 Overview
15.4.2 Offering
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5. Atlas Geophysics Pty Ltd.
15.5.1 Overview
15.5.2 Offering
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6. Phoenix Geophysics
15.6.1 Overview
15.6.2 Offering
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7. MPX Geophysics Ltd.
15.7.1 Overview
15.7.2 Offering
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
