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.
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.
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
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Geophysical Services Market Outlook 5.1. Market Size & Forecast 5.1.1. By Value 5.2. Market Share & Forecast 5.2.1. By Technology (Seismic, Magnetic, Gravity, Electromagnetics, LIDAR, Ground Penetrating, Others) 5.2.2. By Type (Aerial Based Survey, Land Based Survey) 5.2.3. By Services (Data Processing, Data Interpretation, Data Acquisition) 5.2.4. By End User (Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration, Others) 5.2.5. By Region 5.2.6. By Company (2018) 5.3. Market Attractiveness Index
6. North America Geophysical Services Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Technology 6.2.2. By Type 6.2.3. By Services 6.2.4. By End User 6.2.5. By Country (United States; Canada; & Mexico) 6.3. North America: Country Analysis
7. Asia Pacific Geophysical Services Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Technology 7.2.2. By Type 7.2.3. By Service 7.2.4. By End User 7.2.5. By Country (China; India; Japan; South Korea; Australia; New Zealand and Rest of Asia Pacific) 7.3. Asia-Pacific: Country Analysis
8. Europe Geophysical Services Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Technology 8.2.2. By Type 8.2.3. By Services 8.2.4. By End User 8.2.5. By Country (France; Germany; UK; Italy; Norway; Russia and Rest of Europe) 8.3. Europe & CIS: Country Analysis
9. Middle East and Africa Geophysical Services Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Technology 9.2.2. By Service 9.2.3. By Type 9.2.4. By End User 9.2.5. By Country (UAE; Saudi Arabia; South Africa; Kuwait; Qatar; Nigeria and Rest of Middle East & Africa) 9.3. MEA: Country Analysis
10. South America Geophysical Services Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value 10.2. Market Share & Forecast 10.2.1. By Technology 10.2.2. By Type 10.2.3. By End User 10.2.4. By Country (Brazil; Argentina; Chile; and Rest of South America) 10.3. South America: Country Analysis
