Geophysical Services Market

Global Geophysical Services Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026 at a CAGR of XX% during the forecast period.

As part of the transition to low carbon economy, the world has witnessed a remarkable growth in renewable energy technologies, which accounted for more than 15% of the global energy consumption. Solar, wind, energy storage system, and lithium-ion battery are expected to witness a high growth due to their increasing adoption in a carbon-constrained environment, resulting in huge demand for wide range of minerals and metals. As a result, the demand for geophysical services are expected to be driven by increasing renewable energy capacity.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Land-based geophysical services play a vital role in exploration and extraction of various minerals. These services also help understand geophysical conditions of the ground surface and sub-surface. Aerial-based survey captures images by using fixed-wing aircraft and helicopters. However, drones are expected to replace fixed-wing aircraft and helicopters in aerial-based geophysical surveys in the near future.

The global geophysical services market for mineral & mining industry is highly consolidated. Large numbers of geophysical survey-based data acquisition companies operate in the global geophysical services market for mineral & mining industry. Players that dominate the market account for significant market share. This leads to intense competition. Design, technology, and engineering of systems are key differentiating factors for different players. Scale of operations, range of data network, and capability to analyze and offer feasible solutions determine profitability and market share of players.
In terms of region, North America dominated the global geophysical services market for mineral & mining industry in 2017. The U.S. dominates the geophysical services market for mineral & mining in North America, led by the high number of geophysical survey activities in areas such as basins of Oakland, Houston, Seattle, Florida, New York, and Philadelphia. Canada is one of the largest exporters of minerals and metals in the world. It supplies approximately 60 mineral commodities to more than 100 countries across the globe. North America and Asia Pacific are expected to be lucrative regions for geophysical service in the near future. Rise in mineral exploration activities is driving the demand for geophysical services in North America. Asia Pacific is likely to be a highly attractive region for geophysical services owing to the increase in demand for mineral excavation to meet the needs of the rising population.

Although the industry is currently in challenging times, the demand for these products and energy is not going away, and fossil fuels will dominate the energy supply for decades, requiring the ability to explore and develop resources currently out of reach. Critical resource plays are moving farther offshore and into more complex onshore formations.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the geophysical servicesmarket. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.

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Scope of Global Geophysical Services Market

Global Geophysical Services Market, By Technology

• Magnetic
• Gradiometry
• Gravity
• Electromagnetic
• LIDAR
• Hyperspectral
• Ground Penetrating Radar
• Resistivity
• Seismic
Global Geophysical Services Market, By Type

• Aerial based Survey
• Land based Survey
Global Geophysical Services Market, By End User

• Oil and Gas
• Minerals and Mining
• Agriculture
• Water Exploration
Global Geophysical Services Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Geophysical Services Market

• EON Geosciences
• Dawson Geophysical Inc
• Geotech Surveys
• TGS
• Phoenix Geophysics
• SEA GEO SURVEYS PVT LTD
• Geophysical Survey Systems, Inc.
• SA Global
• Ramboll Group A/S
• DMT
• Schlumberger Limited, BGP Inc.

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