Geophysical Service Market Share, Industry Demand, Growth Rate, SWOT Analysis, and Business Development by 2026

Posted on Sep 12 2022 5:03 AM

"Geophysical Services Market Size, Share & COVID-19 Impact Analysis, By Technology (Seismic, Magnetic, Electromagnetic, Gradiometry, Gravity, Borehole logging, and Others) By Survey Type (Land-based, Marine-based, Aerial-based), By End-user (Oil & Gas, Mining, Agriculture, Water Exploration, Others) and Regional Forecasts, 2022-2029 "

The global Geophysical Service Market Size" is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information.  The International Monetary Fund (IMF) estimates that the global economy is set to grow at 3.9% till 2023, with almost all regions performing well. Oil being a key growth driver, especially for developing economies such as India, increasing demand for it is a strong indicator of healthy economic development. Thus, oil and gas exploration activities will gather momentum, creating the need for advanced geophysical service equipment for locating these resources as accurately as possible.

The global geophysical services market size stood at 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 report evaluates the important characteristics of the market based on present industry scenarios, market demands and business strategies. Also, the research report separates the industry based on the Geophysical Service Market share, types, applications, growth factor, key players and regions.

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The market has the presence of a large number of big industry players. Some of the eminent players in the market include:

  • Schlumberger
  • CGG
  • PGS
  • TGS
  • Halliburton
  • Fugro
  • COSL- China Oilfield Services Limited
  • Polarcus
  • Geokinetics, Inc.
  • SAExploration
  • Dawson Geophysical
  • Global Geophysical Services
  • Ion Geophysical
  • Paradigm

Geophysical Service Market Report Scope:

REPORT ATTRIBUTE DETAILS
Market size available for years 2022-2026
CAGR Value   6.6%
Base year considered 2021
Historical data 2018-2020
Forecast Period 2022-2026
Quantitative units Revenue in USD million and CAGR from 2022-20261
Segments Covered Types, Applications, End-Users, and more.
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
Customization scope Report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Avail of customized purchase options to meet your exact research needs. Explore purchase options

 
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An Overview of the Impact of COVID-19 on this Market:

Latest Update: This has brought along several changes this report also covers the impact of Current COVID-19 situation

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

Stepping into a Post-COVID Economy: How Energy and Power Industry Will Play an Essential Role in its Recovery. Request Sample Copy.

Geophysical Service Market Regional Analysis:

  • Top regional growth avenues: North America, Europe, Asia-Pacific, South America, Middle East & Africa, South East Asia.
  • Net revenue and sales amassed by each region.
  • Records for the yearly growth rate of each geography over the forecast period.

For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.

Intense Competition to Rule the Geophysical Service Market Trends

The market for geophysical services is diverse and offers ample opportunities for players to mark their presence. Two of the most preferred strategies that have been adopted by companies are acquisitions and strategic collaborations. These activities are anticipated to greatly intensify the competition in this market.

Market Drivers: 

North America to Lead the Pack; Growth in Asia-Pacific to be Sturdy

With a revenue generation of USD 5.51 billion in 2018, North America is expected to lead the Geophysical Service Market share. This will be a result of increased hydrocarbon exploration and production activities in the US and Canada. In Asia-Pacific, growth will mainly be driven by rising investment by China in oil and gas production and by India in its mining and oil and gas industries. In the Middle East, rising focus on upscaling hydrocarbon production will propel the market in the region. Large-scale availability of crucial mineral ores and increasing extraction activities will favor the market in Latin America, says the Geophysical Service Market forecast of Fortune Business Insights.

Competitive Strategy 

To enhance their market position in the global sustainable aviation fuel market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
For example,

June 2018: SAExploration, Inc. acquired certain assets of the almost bankrupt Geokinetics, Inc. with the aim of enhancing their seismic data collection capacities and strengthening their logistical services. The acquisition will also increase SAExploration’s machinery and equipment stock.
November 2019: ION Geophysical Corporation was awarded a two-year contract by Saudi Arabia-based ARGAS for seabed nodal data collection and processing purposes. This will enable ION to enter the market in the Middle East and expand its operations in the region.

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.

The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

Some of the Key Questions Answered in this Report:

  • Detailed Overview of Geophysical Service Market will help deliver clients and businesses making strategies.
  • Influencing factors that are thriving demand and latest trends running in the market.
  • Geophysical Service Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
  • What trends, challenges and barriers will impact the development and sizing of the Global Geophysical Service Market?
  • SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
  • What is the Geophysical Service Market growth momentum or market carries during the forecast period?
  • Which region may tap the highest market share in the coming era?
  • Which application/end-user category or Product Type may seek incremental growth prospects?
  • What focused approach and constraints are holding the Geophysical Service Market demand?

The Geophysical Service Market research report offers a complete assessment of the industry. The projections included in the report have been determined utilizing demonstrated research philosophies and presumptions.

Detailed TOC of Global Geophysical Service Market Report 2022

Key Points from TOC:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Global Statistics — Key Countries
4.2 New Product Launches
4.3 Pipeline Analysis
4.4 Regulatory Scenario — Key Countries
4.5 Recent Industry Developments — Partnerships, Mergers & Acquisitions
5. Global Internet of Things Market Analysis, Insights and Forecast
5.1. Key Findings/ Summary
5.2. Market Analysis — By Product Type
5.3. Market Analysis — By Distribution Channel
5.4. Market Analysis — By Countries/Sub-regions
……………
11. Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis
11.3. Competition Dashboard
11.4. Comparative Analysis — Major Players
12. Company Profiles
12.1 Overview
12.2 Products & Services
12.3 SWOT Analysis
12.4 Recent developments
12.5 Major Investments
12.6 Regional Market Size and Demand
13. Strategic Recommendations
TOC Continued……………….

Continued….

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