Fairfield Market Research
Geophysical Services Market

Geophysical Services Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Jan 2023 | Format: | No. of Pages: 173

Industry: Energy & Natural Resources | Author Name: Harshad


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The global geophysical services market is estimated to record the revenue of over US$13.2 Bn in 2022 and is all set for a CAGR of 5.2% through the end of 2029, exceeding the valuation of US$18.9 Bn.

Increasing Demand for Geophysical Data for Pre-assessment to Trigger Investments in Geophysical Services Market

The oil and gas industry remains the major pillar of the global energy economy, which is constantly developing. Globally, nearly 4 billion MT of oil is produced a year, making the oil and gas sector a high-risk, high-investment sector. Oil and gas firms need a lot of analytical data, including seismic, magnetic, gravity, and electromagnetic data, supplied by various oilfield service (OFS) companies throughout the early stages of exploration and production (E&P). Geophysicists interpret these measured variations and use them to generate geologic models of varying sophistication. This is expected to drive the geophysical services market forward. Oil E&P firms can use OFS companies for onshore and offshore services like drilling, and seismic testing. Other than the people working in the oil and gas business, metal and mineral mining companies frequently need geophysical services for locating possible locations and reserves. The substantial reliance that mining, mineral, and oil corporations have on.

Growing Yearly Increase in Expenditure for Risk Minimization Propels Geophysical Services Market Revenue

The fundamental driver of the rise in demand for geophysical services worldwide continues to be rising investments in mining and exploration. The demand for geophysical services is anticipated to increase over the upcoming years 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, which fosters the pace of expansion of geophysical services market. Geophysical service providers must supply seismic services and analytical data for the oil and gas industry. Consequently, exploration activities are increasing in industrialized nations.

Year-on-year increase in demand for energy, followed by rise in mining exploration budgets, is expected to benefit the overall demand for geophysical services. The geophysical services market entails high capital investments along and is high risk driven by unpredictable environmental conditions. Experience and skills pertaining to geophysics are required to operate in the geophysical services market. Furthermore, growing concerns regarding carbon emission through the usage of fossil fuel has surged investments in the renewable energy sector. These factors are likely to hamper the demand for geophysical services, in turn creating a headwind for the geophysical services market.

Mineral and Mining, and Oil and Gas Remain Dominant End User Segments in Geophysical Services Market

In terms of end-user, the global geophysical services market is categorized into mineral and mining, upstream oil and gas, agriculture, and water explorations. In 2021, mineral and mining segment constituted more than 50%. Mineral and mining, and oil and gas industries held significant shares in the geophysical services market in 2021. The upstream oil and gas sector constitutes more than 29% share of the global geophysical services market. For geophysical-based data acquisition, multi-client seismic data is more cost-effective and has the potential to offer high profit margins as it can be sold to different companies for several times. Companies providing geophysical services are also engaged in various multi-client data acquisition projects to increase their profit margins. End-use companies prefer multi-client geophysical/seismic data reports due to lower investment involved, which is boosting the geophysical services market, especially in the seismic technology segment.

Land-based Survey Constitutes Lion’s Share in Global Geophysical Services Market

In terms of type, the global geophysical services market is segregated into aerial-based and land-based surveys. In 2021, land-based survey constituted more than 85%. Land-based geophysical surveys play a vital role in the exploration of various minerals, hydrocarbon sources, and oil and gas reserves. These surveys also help with the understanding of the geophysical conditions of the ground surface, and sub-surface. Aerial-based surveys capture images by using fixed-wing aircrafts, and helicopters. Apart from oil and gas, and mining industries, water exploration, agriculture, and environment are the key consumer industries of geophysical data. To attain water and food security, water exploration, and agriculture sectors have started more focused exploration of geophysical services. In developing countries such as India, the minimum daily requirement of a person is 200 litres of water for domestic use, which points to the massive scope for the growth of geophysical services market.

Seismic Survey Remains the Dominant Technology Segment in Geophysical Services Market

In terms of technology, the market is fragmented into magnetic, gradiometry, gravity, electromagnetic, LIDAR, hyperspectral, ground penetrating radar, resistivity, seismic, and others. In 2021, seismic segment dominated the global geophysical serviced market and constituted more than 53% share followed by gravity and magnetic technology. Increase in demand for seismic data acquisition in the oil and gas industry is driving the geophysical services market. Seismic survey is categorized into 2D, 3D, and 4D survey. Upstream oil and gas is the dominant end user of seismic survey data. Magnetic, gravity, and resistivity-based geophysical services are widely used to cater to several end-user industries such as oil and gas, and mineral and mining, water exploration, and agriculture. Investments in magnetic, gravity, electromagnetic, resistivity-based geophysical services is expected to grow at a moderate pace during the forecast period, which is likely to support the growth of geophysical services market.

Asia Pacific to Display Strongest Growth in in Geophysical Services Market by 2029 End

In 2021, North America dominated the global geophysical services market and constituted more than 29%. North America is a highly attractive region in the global geophysical services market owing to the rise in explorations related to shale gas in the region. In North America, the US dominates the geophysical services market in North America, due to high number of geophysical survey activities in areas such as basins of Oakland, Houston, Seattle, Florida, New York, and Philadelphia. The various players in the region’s geophysical services market have been constantly conducting geophysical surveys in the US, and Canada for the past two years.

Europe’s geophysical services market is led by Russia & CIS nations, the key producer of natural gas in Europe. The demand for geophysical services in the upstream oil and gas industry in Russia is likely to increase during the forecast period. Russia is rich in mineral resources, which has accounted for the year-on-year increase in the region’s mining exploration budget. This is likely to benefit the demand for geophysical services in the next few years. However, the ongoing war between Russia-Ukraine is likely to impact investments in mining sectors.

In Asia Pacific, China leads the geophysical services market. In Asia Pacific, rise in exploitation of mining sites and increase in expenditure in E&P activities is expected to drive the demand for geophysical services in the next few years. The market in Asia Pacific is anticipated to witness significant growth owing to the increase in mineral, and oil and gas exploration activities within the region. Rise in oil and gas, and mining exploration activities in Australia, and countries in ASEAN are propelling the demand for geophysical services in Asia Pacific.

Global Geophysical Services Market: Competitive Landscape

Some of the key players in the geophysical services market include TGS, EON Geosciences, Phoenix Geophysics, New Resolution Geophysics, Sea Geo Surveys Pvt. Ltd., Compagnie Générale de Géophysique (CGG), Dawson Geophysical Inc., Geotec Surveys Ltd., Spectrum Geophysics, and GSSI Geophysical Survey Systems, Inc. The global geophysical services market is highly consolidated. Several geophysical survey-based data acquisition companies operate in the global marketplace.

Recent Notable Developments

  • In November 2022, TGS, a global provider of energy data and intelligence, announced the Beyond Far East 3D, a new onshore seismic program in the Midland Basin. This project will encompass approximately 59 square miles in Mitchell County, TX. Data acquisition is expected to begin in Q1 2023, with final data available to clients in early Q3 2023

  • In November 2022, CGG was awarded a multi-year contract extension by Brunei Shell Petroleum Company Sdn Bhd (BSP) to continue operating a dedicated seismic imaging center at its head office in Seria, Brunei

The Global Geophysical Services Market is Segmented as Below:

By Type Coverage          

  • Aerial-based
  • Land-based

By End-user Coverage    

  • Mineral & Mining
  • Upstream Oil & Gas
  • Agriculture
  • Water Exploration
  • Others

By Technology Coverage

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

By Geographical Coverage         

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • 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
    • Saudi Arabia
    • Kuwait
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

Leading Companies   

  • TGS
  • EON Geosciences
  • Phoenix Geophysics
  • New Resolution Geophysics
  • SEA GEO SURVEYS PVT LTD
  • Compagnie Générale de Géophysique (CGG)
  • Dawson Geophysical Inc.
  • GEOTEC SURVEYS
  • Spectrum Geophysics
  • GSSI Geophysical Survey Systems, Inc.

Inside This Report You Will Find:

1. Executive Summary
2. Market Overview
3. Price Trends Analysis
4. Global Geophysical Services Market Outlook, 2018 - 2029
5. North America Geophysical Services Market Outlook, 2018 - 2029
6. Europe Geophysical Services Market Outlook, 2018 - 2029
7. Asia Pacific Geophysical Services Market Outlook, 2018 - 2029
8. Latin America Geophysical Services Market Outlook, 2018 - 2029
9. Middle East & Africa Geophysical Services Market Outlook, 2018 - 2029
10. Competitive Landscape
11. Appendix

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1. Executive Summary
     1.1. Global Geophysical Services Market Snapshot
     1.2. Future Projections
     1.3. Key Market Trends
     1.4. Analyst Recommendations

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
            2.2.1. Drivers
            2.2.2. Restraints
            2.2.3. Market Opportunities
            2.2.4. Economic Trends
     2.3. Value Chain Analysis
     2.4. Porter’s Five Forces Analysis
     2.5. COVID-19 Impact
            2.5.1. Supply Chain
            2.5.2. Technology Customer Impact Analysis

3. Price Trends Analysis

4. Global Geophysical Services Market Outlook, 2018 - 2029

     4.1. Global Geophysical Services Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
            4.1.1. Key Highlights
                    4.1.1.1. Aerial-based
                    4.1.1.2. Land-based
            4.1.2. BPS Analysis/Market Attractiveness Analysis, by Type
     4.2. Global Geophysical Services Market Outlook, by End-user, Value (US$ Mn), 2018 - 2029
            4.2.1. Key Highlights
                    4.2.1.1. Mineral & Mining
                    4.2.1.2. Upstream Oil & Gas
                    4.2.1.3. Agriculture
                    4.2.1.4. Water Exploration
                    4.2.1.5. Others
            4.2.2. BPS Analysis/Market Attractiveness Analysis, by End-user
     4.3. Global Geophysical Services Market Outlook, by Technology, Value (US$ Mn), 2018 - 2029
            4.3.1. Key Highlights
                    4.3.1.1. Magnetic
                    4.3.1.2. Gradiometry
                    4.3.1.3. Gravity
                    4.3.1.4. Electromagnetic
                    4.3.1.5. LIDAR
                    4.3.1.6. Hyperspectral
                    4.3.1.7. Ground Penetrating Radar
                    4.3.1.8. Resistivity
                    4.3.1.9. Seismic
                    4.3.1.10. Others
            4.3.2. BPS Analysis/Market Attractiveness Analysis, by Technology
     4.4. Global Geophysical Services Market Outlook, by Region, Value (US$ Mn), 2018 - 2029
            4.4.1. Key Highlights
                    4.4.1.1. North America
                    4.4.1.2. Europe
                    4.4.1.3. Asia Pacific
                    4.4.1.4. Latin America
                    4.4.1.5. Middle East & Africa
            4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region

5. North America Geophysical Services Market Outlook, 2018 - 2029
     5.1. North America Geophysical Services Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
            5.1.1. Key Highlights
                    5.1.1.1. Aerial-based
                    5.1.1.2. Land-based
     5.2. North America Geophysical Services Market Outlook, by End-user, Value (US$ Mn), 2018 - 2029
            5.2.1. Key Highlights
                    5.2.1.1. Mineral & Mining
                    5.2.1.2. Upstream Oil & Gas
                    5.2.1.3. Agriculture
                    5.2.1.4. Water Exploration
                    5.2.1.5. Others
     5.3. North America Geophysical Services Market Outlook, by Technology, Value (US$ Mn), 2018 - 2029
            5.3.1. Key Highlights
                    5.3.1.1. Magnetic
                    5.3.1.2. Gradiometry
                    5.3.1.3. Gravity
                    5.3.1.4. Electromagnetic
                    5.3.1.5. LIDAR
                    5.3.1.6. Hyperspectral
                    5.3.1.7. Ground Penetrating Radar
                    5.3.1.8. Resistivity
                    5.3.1.9. Seismic
                    5.3.1.10. Others
     5.4. North America Geophysical Services Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
            5.4.1. Key Highlights
                    5.4.1.1. U.S. Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    5.4.1.2. Canada Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029

6. Europe Geophysical Services Market Outlook, 2018 - 2029
     6.1. Europe Geophysical Services Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
            6.1.1. Key Highlights
                    6.1.1.1. Aerial-based
                    6.1.1.2. Land-based
     6.2. Europe Geophysical Services Market Outlook, by End-user, Value (US$ Mn), 2018 - 2029
            6.2.1. Key Highlights
                    6.2.1.1. Mineral & Mining
                    6.2.1.2. Upstream Oil & Gas
                    6.2.1.3. Agriculture
                    6.2.1.4. Water Exploration
                    6.2.1.5. Others
     6.3. Europe Geophysical Services Market Outlook, by Technology, Value (US$ Mn), 2018 - 2029
            6.3.1. Key Highlights
                    6.3.1.1. Magnetic
                    6.3.1.2. Gradiometry
                    6.3.1.3. Gravity
                    6.3.1.4. Electromagnetic
                    6.3.1.5. LIDAR
                    6.3.1.6. Hyperspectral
                    6.3.1.7. Ground Penetrating Radar
                    6.3.1.8. Resistivity
                    6.3.1.9. Seismic
                    6.3.1.10. Others
     6.4. Europe Geophysical Services Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
            6.4.1. Key Highlights
                    6.4.1.1. Germany Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    6.4.1.2. U.K. Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    6.4.1.3. France Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    6.4.1.4. Russia & CIS Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    6.4.1.5. Rest of Europe Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029

7. Asia Pacific Geophysical Services Market Outlook, 2018 - 2029
     7.1. Asia Pacific Geophysical Services Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
            7.1.1. Key Highlights
                    7.1.1.1. Aerial-based
                    7.1.1.2. Land-based
     7.2. Asia Pacific Geophysical Services Market Outlook, by End-user, Value (US$ Mn), 2018 - 2029
            7.2.1. Key Highlights
                    7.2.1.1. Mineral & Mining
                    7.2.1.2. Upstream Oil & Gas
                    7.2.1.3. Agriculture
                    7.2.1.4. Water Exploration
                    7.2.1.5. Others
     7.3. Asia Pacific Geophysical Services Market Outlook, by Technology, Value (US$ Mn), 2018 - 2029
            7.3.1. Key Highlights
                    7.3.1.1. Magnetic
                    7.3.1.2. Gradiometry
                    7.3.1.3. Gravity
                    7.3.1.4. Electromagnetic
                    7.3.1.5. LIDAR
                    7.3.1.6. Hyperspectral
                    7.3.1.7. Ground Penetrating Radar
                    7.3.1.8. Resistivity
                    7.3.1.9. Seismic
                    7.3.1.10. Others
     7.4. Asia Pacific Geophysical Services Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
            7.4.1. Key Highlights
                    7.4.1.1. China Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    7.4.1.2. India Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    7.4.1.3. Australia Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    7.4.1.4. ASEAN Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    7.4.1.5. Rest of Asia Pacific Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029

8. Latin America Geophysical Services Market Outlook, 2018 - 2029
     8.1. Latin America Geophysical Services Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
            8.1.1. Key Highlights
                    8.1.1.1. Aerial-based
                    8.1.1.2. Land-based
     8.2. Latin America Geophysical Services Market Outlook, by End-user, Value (US$ Mn), 2018 - 2029
            8.2.1. Key Highlights
                    8.2.1.1. Mineral & Mining
                    8.2.1.2. Upstream Oil & Gas
                    8.2.1.3. Agriculture
                    8.2.1.4. Water Exploration
                    8.2.1.5. Others
     8.3. Latin America Geophysical Services Market Outlook, by Technology, Value (US$ Mn), 2018 - 2029
            8.3.1. Key Highlights
                    8.3.1.1. Magnetic
                    8.3.1.2. Gradiometry
                    8.3.1.3. Gravity
                    8.3.1.4. Electromagnetic
                    8.3.1.5. LIDAR
                    8.3.1.6. Hyperspectral
                    8.3.1.7. Ground Penetrating Radar
                    8.3.1.8. Resistivity
                    8.3.1.9. Seismic
                    8.3.1.10. Others
     8.4. Latin America Geophysical Services Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
            8.4.1. Key Highlights
                    8.4.1.1. Brazil Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    8.4.1.2. Mexico Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    8.4.1.3. Rest of Latin America Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029

9. Middle East & Africa Geophysical Services Market Outlook, 2018 - 2029
     9.1. Middle East & Africa Geophysical Services Market Outlook, by Type, Value (US$ Mn), 2018 - 2029
            9.1.1. Key Highlights
                    9.1.1.1. Aerial-based
                    9.1.1.2. Land-based
     9.2. Middle East & Africa Geophysical Services Market Outlook, by End User, Value (US$ Mn), 2018 - 2029
            9.2.1. Key Highlights
                    9.2.1.1. Mineral & Mining
                    9.2.1.2. Upstream Oil & Gas
                    9.2.1.3. Agriculture
                    9.2.1.4. Water Exploration
                    9.2.1.5. Others
     9.3. Middle East & Africa Geophysical Services Market Outlook, by Technology, Value (US$ Mn), 2018 - 2029
            9.3.1. Key Highlights
                    9.3.1.1. Magnetic
                    9.3.1.2. Gradiometry
                    9.3.1.3. Gravity
                    9.3.1.4. Electromagnetic
                    9.3.1.5. LIDAR
                    9.3.1.6. Hyperspectral
                    9.3.1.7. Ground Penetrating Radar
                    9.3.1.8. Resistivity
                    9.3.1.9. Seismic
                    9.3.1.10. Others
     9.4. Middle East & Africa Geophysical Services Market Outlook, by Country, Value (US$ Mn), 2018 - 2029
            9.4.1. Key Highlights
                    9.4.1.1. Saudi Arabia Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    9.4.1.2. Kuwait Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    9.4.1.3. Qatar Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    9.4.1.4. South Africa Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029
                    9.4.1.5. Rest of Middle East & Africa Geophysical Services Market, Value (US$ Mn), by Type, End-user, Technology, 2018 - 2029

10. Competitive Landscape
     10.1. Company Market Share Analysis, 2021
     10.2. Strategic Collaborations
     10.3. Company Profiles
            10.3.1. TGS
                    10.3.1.1. Company Overview
                    10.3.1.2. Product Portfolio
                    10.3.1.3. Financial Overview
                    10.3.1.4. Business Strategies and Development
            10.3.2. EON Geosciences
                    10.3.2.1. Company Overview
                    10.3.2.2. Product Portfolio
                    10.3.2.3. Financial Overview
                    10.3.2.4. Business Strategies and Development
            10.3.3. Phoenix Geophysics
                    10.3.3.1. Company Overview
                    10.3.3.2. Product Portfolio
                    10.3.3.3. Financial Overview
                    10.3.3.4. Business Strategies and Development
            10.3.4. New Resolution Geophysics
                    10.3.4.1. Company Overview
                    10.3.4.2. Product Portfolio
                    10.3.4.3. Financial Overview
                    10.3.4.4. Business Strategies and Development
            10.3.5. SEA GEO SURVEYS PVT LTD
                    10.3.5.1. Company Overview
                    10.3.5.2. Product Portfolio
                    10.3.5.3. Financial Overview
                    10.3.5.4. Business Strategies and Development
            10.3.6. Compagnie Générale de Géophysique (CGG)
                    10.3.6.1. Company Overview
                    10.3.6.2. Product Portfolio
                    10.3.6.3. Financial Overview
                    10.3.6.4. Business Strategies and Development
            10.3.7. Dawson Geophysical Inc.
                    10.3.7.1. Company Overview
                    10.3.7.2. Product Portfolio
                    10.3.7.3. Financial Overview
                    10.3.7.4. Business Strategies and Development
            10.3.8. GEOTEC SURVEYS
                    10.3.8.1. Company Overview
                    10.3.8.2. Product Portfolio
                    10.3.8.3. Financial Overview
                    10.3.8.4. Business Strategies and Development
            10.3.9. Spectrum Geophysics
                    10.3.9.1. Company Overview
                    10.3.9.2. Product Portfolio
                    10.3.9.3. Financial Overview
                    10.3.9.4. Business Strategies and Development
            10.3.10. GSSI Geophysical Survey Systems, Inc.
                    10.3.10.1. Company Overview
                    10.3.10.2. Product Portfolio
                    10.3.10.3. Financial Overview
                    10.3.10.4. Business Strategies and Development

11. Appendix
     11.1. Research Methodology
     11.2. Report Assumptions
     11.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2021

2018 - 2021

2022 - 2029 

ValueUS$ Million

 

REPORT FEATURES

DETAILS

Type Coverage

  • Aerial-based
  • Land-based

End-user Coverage

  • Mineral & Mining
  • Upstream Oil & Gas
  • Agriculture
  • Water Exploration
  • Others

Technology Coverage

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

Geographical Coverage

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • 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
    • Saudi Arabia
    • Kuwait
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

Leading Companies

  • TGS
  • EON Geosciences
  • Phoenix Geophysics
  • New Resolution Geophysics
  • SEA GEO SURVEYS PVT LTD
  • Compagnie Générale de Géophysique (CGG)
  • Dawson Geophysical Inc.
  • GEOTEC SURVEYS
  • Spectrum Geophysics
  • GSSI Geophysical Survey Systems, Inc.

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porters 5 Forces Analysis, Historical Trend (2018-2021), Price Trend Analysis, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain)

FAQs : Geophysical Services Market

Global geophysical services market is anticipated to reach US$18.9 Bn by 2029.

Global top 5 players in geophysical services include CGG, TGS, EON Geosciences, Dawson Geophysical Inc., and Spectrum Geophysics.

In 2021, North America constituted 29.3% of the global geophysical services market by value. In terms of value, Asia Pacific is expected to register a CAGR of 6.0% from 2022-2029.

In terms of type, land-based survey constituted more than 80% of the market in the year 2021. By technology, seismic segment is expected to lead the global geophysical services market by 2029. By end-user, both upstream oil and gas, and mineral and mining constituted more than 80% share in 2021.

The geophysical services market witnessed positive impact during the COVID-19. There has been a significant fall in demand for geophysical services due to derail in investments into exploration of new assets in oil and gas, mining, water exploration, and agriculture.

Our Research Methodology

Under uncertainty, traditional approaches to strategic planning can be downright dangerous. True ambiguity is no basis to forecast the future – degree of risk, the magnitude of circumstances, conditions and consequences are not known or unpredictable. To avoid dangerous binary views of uncertainty; strategic posture, moves and actions through market research is the best bet.

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