Business Technology

Geophysical Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026

The Global Geophysical Services Market is highly consolidated. Large numbers of geophysical survey-based data acquisition companies operate in the global market. 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 market players. Besides oil & gas and mining, other end-user industries such as water exploration, agriculture, and environment are key consumers of geophysical services. Land-based geophysical services play a vital role in the exploration of various minerals, hydrocarbon sources, oil and gas reserves, etc. 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.

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This report analyzes and forecasts the geophysical services market at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2017 to 2026, considering 2017 as the base year. The study includes drivers and restraints of the global geophysical services market. It also covers impact of these drivers and restraints on demand for geophysical services during the forecast period. The report also highlights opportunities in the geophysical services market at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global geophysical services market. Porter’s Five Forces model for the geophysical services market has also been included to help understand the competitive landscape. The study encompasses market attractiveness analysis, wherein products and applications are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global geophysical services market by segmenting it in terms of technology, end-user industry, type, and region/country. In terms of technology, the geophysical services market has been classified into magnetic, gradiometry, gravity, electromagnetic, LIDAR, hyperspectral, ground penetrating radar, resistivity, seismic, and others. Based on end-user industry, the geophysical services market has been divided into oil & gas, minerals & mining, agriculture, water exploration, and others. In terms of type, the global geophysical services market has been segregated into aerial-based survey and land-based survey. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for geophysical services in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides the actual size of the geophysical services market for 2017 and estimated size for 2018 with forecast for the next eight years. The global geophysical services market has been analyzed in terms of revenue. Market numbers have been estimated based on technology, end-user industry, and type of geophysical services. Market revenue and size have been provided in terms of global, regional, and country level markets.

The report comprises profiles of major companies operating in the global geophysical services market. Key players include EON Geosciences Inc., Dawson Geophysical Inc., Geotech Surveys, Compagnie Générale de Géophysique (CGG), TGS, Spectrum Geophysics, Geophysical Survey Systems, Inc., SEA GEO SURVEYS PVT LTD., New Resolution Geophysics, ION Geophysical Corporation, and Phoenix Geophysics. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

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The global geophysical services market has been segmented as follows:

Global Geophysical Services Market, by Technology

  • Magnetic
  • Gradiometry
  • Gravity
  • Electromagnetics
  • LIDAR
  • Hyperspectral
  • Ground Penetrating Radar
  • Resistivity
  • Seismic
  • Others

Global Geophysical Services Market, by End-user Industry

  • Oil & Gas
  • Minerals & Mining
  • Agriculture
  • Water Exploration
  • Environment
  • Others

Global Geophysical Services Market, by Type

  • Aerial-based Survey
  • Land-based Survey

Global Geophysical Services Market, by Region

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • K.
    • France
    • Italy
    • Norway
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • Kuwait
    • Qatar
    • Nigeria
    • South Africa
    • Rest of Middle East & Africa

Key Takeaways

  • North America is the leading consumer of geophysical services across the globe. The region constitutes around 25% to 30% share of the global market. The market in the region is expected to expand at a moderate pace during the forecast period owing to the shale gas revolution.
  • Costs of geophysical services are highly dependent on type of service (per mile) with respect to the equipment utilized
  • The aerial-based segment is projected to expand at a faster pace in the mining sector vis-à-vis that in other sectors. Currently, the mining industry accounts for more than 70% share of aerial-based services.

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