Global Geophysical Services Market 2020 Trends & Key Companies
The global geophysical services market size was USD 14.43 Billion in 2018 and is projected to reach USD 20.59 Billion by 2026, exhibiting a CAGR of 4.6% during the forecast period.
The survey may be carried out on the ground surface or aerially to produce a detailed mapping of an area. Geophysical survey is majorly used in the oil & gas industry as well as metal & minerals to meet the growing demand for energy and metals, respectively. Hence, a geophysical survey is essential to discover valuable energy resources that may offer a lucrative market in the upcoming years.
"Increasing Demand for Technical Expertise For Discovering New Resources to Fuel the Market"
Fast-paced global economic development is resulting in an increasing demand for energy. Several companies seek technical expertise to precisely locate fossil fuel deposits. Geophysical services are being widely used in mining, oil & gas, agriculture, archaeology, and others to analyze the geological properties of the earth. The most important characteristic of geophysical service is that it is a non-destructive means and ideal for use in populated areas. The enormous population growth coupled with urbanization limits exploration activities. But with the help of geophysical service, detailed mapping of energy deposits can be carried out efficiently. It not only provides realistic information about the subsurface of the earth but also reduces the overall production cost by precisely locating minerals, metals, oil & gas, etc. Hence, substantial investment in the exploration of fossil fuel deposits may drive the geophysical services market growth.
The world is changing faster than ever before, driven by population growth, urbanization, technological change, and climate change, among others. Geophysical services play an important role in creating a safer and more liveable world. It is used for specific problem setting such as bedrock condition before an underground construction, mapping of natural resources, risk analysis of landslides, and mapping of contaminated sites. Geophysical mapping provides a full representation of how the physical properties vary region by region for cost-effective exploration of oil & gas as well as minerals & materials. Hence, the geophysical survey is widely used by oil & gas operators, mining industries, and archaeologists to get more authentic data beneath the earth.
INDUSTRY KEY PLAYERS
"Exciting New Opportunities to be Lapped up by Market Players"
The geophysical service market is highly dominated by Schlumberger, CGG, and PGS among others. Schlumberger is one of the leading companies that provide comprehensive solutions for locating natural deposits. The company delivers expertise in seismic services, seismic data processing, and mapping of geological information. In addition, CGG and PGS are significant players in the market for bringing unique solutions to their clients across the world. They are recognized for providing extremely precise data and images of the Earth’s subsurface.
LIST OF KEY COMPANIES COVERED:
-Schlumberger
-CGG
-PGS
-TGS
-Halliburton
-Fugro
-COSL- China Oilfield Services Limited
-Polarcus
-Geokinetics, Inc.
-SAExploration
-Dawson Geophysical
-Global Geophysical Services
-ION Geophysical
-Paradigm
The report provides an in-depth analysis of the global Geophysical Services Market. It highlights the latest products and innovations in the market and discusses its impact on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years.
Forecast values have been provided for the market for the period of 2020-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
Regional Analysis for Geophysical Services Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Geophysical Services Market:
- Introduction
- Executive Summary
- Market Dynamics
- Key Geophysical Services Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Geophysical Services Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
- Conclusion