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Global Geophysical Services Market: By Technology: Gravity, Magnetic, Borehole logging, Electromagnetic, Seismic, Gradiometry, Others; By Survey Type: Marine, Land, Aerial; By End User; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Geophysical Services Market Outlook

The global market for geophysical services reached a value of about USD 14.42 billion in 2021. The market is further expected to grow at a CAGR of about 6.80% in the forecast period of 2022-2027 to reach a value of around USD 18.76 billion by 2027.

 

North America to be a Significant Regional Market for Geophysical Services

North America is expected to account for the largest market share during the forecast period due to rising exploration and production activities. The increasing investments from government and private entities have also provided significant impetus to market growth. The expanding mining market has been adding to the volume of the market. Within North America, the United States dominate the geophysical services market for mineral and mining in North America, led by a high number of geophysical survey activities in areas such as the basins of Oakland, Houston, Seattle, Florida, New York, and Philadelphia. The number of geophysical surveys is increasing in the United States, further aiding the market growth in this region. Various market players have constantly been conducting geophysical surveys in the United States and Canada for the past few years, further invigorating the market growth.

Europe is anticipated to occupy a substantial market share in global contribution owing to the rising hydrocarbon exploration and rising energy demand from emerging economies like the United Kingdom, Norway, Russia, and others.

On the other hand, Asia Pacific is likely to account for a significant market share due to the rising demand for consumer goods and increasing demand for metals and minerals. China leads the global geophysical services market in the Asia Pacific region. Aside from the oil and gas and mineral and mining industries, geophysical services are increasingly used in the water exploration, agriculture, and environmental assessment sectors. Civil works are also increasing the demand for geophysical services in the region.

 

Market Segmentations

Geophysical services are essential in the systematic collection of geophysical data for mining exploration. They give the precise mapping of energy deposits with reliable and accurate data. Minerals, Metals, oil extracts, and gas resources are accurately located using these services. The interior and topography of the Earth's magnetic and gravitational fields require a geophysical service.

Based on technology, the market is segmented into:

  • Gravity
  • Magnetic
  • Borehole Logging
  • Electromagnetic
  • Seismic
  • Gradiometry
  • Others

Based on survey type, the geophysical services market is divided into:

  • Marine
  • Land
  • Aerial

The end-users of the market are:

  • Oil and Gas
  • Mining and Minerals
  • Agriculture
  • Water Exploration
  • Others

The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

Increasing Investment in Mining and Exploration Augmenting the Market Growth

Increasing investment in mining and exploration and rising hydrocarbon explorations remain the key factors responsible for the rise in the demand for geophysical services across the globe. In the coming years, rising demand for precious metals, including gold, platinum, titanium, and silver, is predicted to increase the demand for geophysical services. The increased exploration of shale gas reserves has contributed to the increase in geophysical services investments in the country. The oil and gas sector requires seismic services and analytical data geophysical service providers. Thus, a rise in exploration activities in developed countries, such as the United States, is expected to drive the global geophysical services market during the forecast period. During the forecast period, factors such as the oil and gas industry's increasing adoption of digital services and performance enhancement through service integration will propel the market for geophysical services forward. Additionally, the advent of new technologies and the enhanced capability of real-time data analysis would drive the market growth forward at a faster pace.

 

Key Players in the Global Market for Geophysical Services

The report gives a detailed analysis of the following key players in the global geophysical services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Schlumberger Limited
  • Emerson Paradigm Holding LLC
  • Dawson Geophysical, Co.
  • Weatherford International plc
  • SAExploration
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Geophysical Services Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Geophysical Services Historical Market (2017-2021) 
    8.3    Global Geophysical Services Market Forecast (2022-2027)
    8.4    Global Geophysical Services Market by Technology
        8.4.1    Gravity
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Magnetic
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Borehole logging
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Electromagnetic
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
        8.4.5    Seismic
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2017-2021)
            8.4.5.3    Forecast Trend (2022-2027)
        8.4.6    Gradiometry
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2017-2021)
            8.4.6.3    Forecast Trend (2022-2027)
        8.4.7    Others 
    8.5    Global Geophysical Services Market by Survey Type
        8.5.1    Marine
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Land
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Aerial
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
    8.6    Global Geophysical Services Market by End User
        8.6.1    Oil and Gas
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Mining and Minerals
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Agriculture
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Water Exploration
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
        8.6.5    Others
    8.7    Global Geophysical Services Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Schlumberger Limited
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Emerson Paradigm Holding LLC
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Dawson Geophysical, Co.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Weatherford International plc
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    SAExploration
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Geophysical Services Market: Key Industry Highlights, 2017 and 2021
2.    Global Geophysical Services Historical Market: Breakup by Technology (USD Billion), 2017-2021
3.    Global Geophysical Services Market Forecast: Breakup by Technology (USD Billion), 2022-2027
4.    Global Geophysical Services Historical Market: Breakup by Survey Type (USD Billion), 2017-2021
5.    Global Geophysical Services Market Forecast: Breakup by Survey Type (USD Billion), 2022-2027
6.    Global Geophysical Services Historical Market: Breakup by End User (USD Billion), 2017-2021
7.    Global Geophysical Services Market Forecast: Breakup by End User (USD Billion), 2022-2027
8.    Global Geophysical Services Historical Market: Breakup by Region (USD Billion), 2017-2021
9.    Global Geophysical Services Market Forecast: Breakup by Region (USD Billion), 2022-2027
10.    North America Geophysical Services Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    North America Geophysical Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Europe Geophysical Services Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Europe Geophysical Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Asia Pacific Geophysical Services Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Asia Pacific Geophysical Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Latin America Geophysical Services Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Latin America Geophysical Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Middle East and Africa Geophysical Services Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Middle East and Africa Geophysical Services Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Global Geophysical Services Market Structure

Key Questions Answered in the Report

In 2021, the global market attained a value of nearly USD 14.42 billion.

The market is projected to grow at a CAGR of 6.80% between 2022 and 2027.

The market is estimated to witness healthy growth in the forecast period of 2022-2027 to reach USD 18.76 billion by 2027.

The major drivers of the market include the increasing investment in mining and exploration, increasing number of geophysical surveys, increasing energy demand, rising demand for precious metals, rise in exploration activities, and the advent of new technologies.

Increasing demand from the oil and gas industry and rising hydrocarbon explorations are the key industry trends propelling the market's growth.

The major regions in the market include North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Based on technology, the market is segmented into gravity, magnetic, borehole logging, electromagnetic, seismic, and gradiometry, among others.

The market is segmented into marine, land, and aerial based on survey type.

The services find end-uses in oil and gas, mining and minerals, agriculture, and water exploration, among others.

The major players in the market include Schlumberger Limited, Emerson Paradigm Holding LLC, Dawson Geophysical, Co., Weatherford International plc, and SAExploration, among others.

Analyst Review

The global geophysical services market attained a value of USD 14.42 billion in 2021, driven by the rising demand from the oil and gas industry. Aided by the growing investment in mining and exploration and rising hydrocarbon explorations, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 6.80%. The market is projected to reach USD 18.76 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on technology, the market is segmented into gravity, magnetic, borehole logging, electromagnetic, seismic, and gradiometry, among others. The market is divided into marine, land, and aerial-based on survey type. The end-users of the market are oil and gas, mining and minerals, agriculture, and water exploration, among others. The major regional markets for geophysical services are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are Schlumberger Limited, Emerson Paradigm Holding LLC, Dawson Geophysical, Co., Weatherford International plc, and SAExploration, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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