Geophysical Services Market Size and Growth Report till 2028

Summary

Report Description

Global Geophysical Services Market is expected to grow at impressive rate through 2028 owing to the rising usage of geophysical software and the expansion of exploratory operations, the global market for geophysical services is expected to expand during the course of the forecast period.

Geophysical services is defined as to collect systemic data of earth’s surface or subsurface for various factors including site characterization, monitoring of electric magnetic fields, exploring potential mining, oil & gas minerals.

Rising Demand for Oil and Gas

In the oil business, geophysical services are crucial to the discovery and identification of oil and gas resources. It gives comprehensive information about hydrocarbon reserves, which are frequently found at great depths, while also enable the proper placement of drilling. Additionally, as the world's population has been growing at an increasingly rapid rate in this new era, there has been a progressive increase in the need for energy resources, particularly for gas and oil. Favourable government policies for conventional resources will influence the industry's expansion, together with the rising demand for natural gas. Furthermore, increasing investment toward lease equipment and surface design with advanced technological innovations across the upstream sector will positively gain the oil & gas infrastructure industry. For instance, in March 2022, Enterprise Products announced to acquire a midstream company Navitas Midstream Partners from the private equity organization Warburg Pincus. The deal accounted for USD 3.25 billion which will accelerate the company’s natural gas pipeline network. Hence, with the rising demand for oil and gas, the demand for geophysical services is also expected to increase during the forecast period.

Increasing Investment in Mining and Hydrocarbon Exploration

In the past, geophysical services have been used in exploration to locate and define mineral resources, and they have proven crucial in lowering geological uncertainty in mining. Additionally, the situation of the global mining industry today might be referred to as the start of a new era of sustainable growth. Global demand for geophysical services is expanding as a result of rising mining and exploration investments as well as increased hydrocarbon exploration. Rising demand for precious metals including gold, platinum, titanium, and silver is anticipated to boost demand for geophysical services in the upcoming years. Additionally, the presence of continuous fossil fuel exploration and extraction will offer numerous prospects for market development. For instance, Asian Energy Services and Rosgeologia, a Russian Joint Stock Company, signed a Memorandum of Understanding in 2021 regarding a long-term partnership in seismic and geophysical surveys in India and other nations.

Rising Technological Advancement Drives the Market’s Growth

Over the last decade, new geophysical technologies such as artificial intelligence, 5G communication technologies and nanoelectronics for mining exploration, oil & gas industry, agriculture sector, water exploration, etc. were developed and are directly applicable, which drive the growth of the Global Geophysical Services Market. In addition, the majority of global industries are implementing Internet of Things (IoT) technology to boost productivity and efficiency. The oil and gas industries have started to use digital technologies that improve health and safety requirements, increase the efficiency of production at oil fields, and focus on understanding reservoir resources. The majority of the major oil companies are embracing the use of digital technologies in their oil wells, which has increased the demand for detection technology equipment and is expected to fuel the growth of the global geophysical services market throughout the projection period.

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Market Segments

Global Geophysical Services Market is segmented on the basis of technology, by type, by services, by end user, and by region. Based on technology, the market is segmented into seismic, magnetic, gravity, electromagnetics, lidar, ground penetrating, and others. Based on type, the market is further bifurcated into aerial based survey and land based survey. Based on services, the market is segmented into data processing, data interpretation, and data acquisition. Based on end user, the market is further split into agriculture, environment, minerals & mining, oil & gas, water exploration, and others.

Market Players

Major market players in the Global Geophysical Services Market are EON Geosciences Inc., Dawson Geophysical Inc., Geotech Ltd., Compagnie Générale de Géophysique (CGG), TGS-NOPEC Geophysical Company L.P., Spectrum Geo Inc., Geophysical Survey Systems, Inc., Sea Geo Surveys Pvt. Ltd., ION Geophysical Corporation, and Phoenix Geophysics Limited.

Recent Developments

In 2022, Ocean Floor Geophysics (OFG) and PGS will buy NCS SubSea, a marine seismic company that offers ultra-high-resolution 3D seismic data to the oil and gas and new energy sectors via P-Cable system. Additionally, OFG expanded their already wide variety of geophysical goods and services by adding P-Cable.

In November 2022, TGS, a global provider of energy data and intelligence announced a strategic cooperation agreement with SAND Geophysics and Norwegian Geotechnical Institute (NGI) to provide early-phase ground condition and geohazard evaluations for offshore wind farm development. Moreover, in this collaboration, the companies aim to support wind farm front-end engineering design (FEED) studies and survey evaluation and design (SED) through the development of multi-client desktop studies across the Global Geophysical Services Market.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, company share, growth factors, and trends
Segments covered	By Technology By Type By Services By End User By Region
Regional Scope	North America, Europe, Asia-Pacific, South America, Middle East & Africa
Country scope	United States, Canada, Mexico, China, India, Thailand, Indonesia, Malaysia, Germany, UK, Denmark, Norway, Russia, UAE, Saudi Arabia, South Africa, Nigeria, Brazil, Argentina, Chile
Key companies profiled	EON Geosciences Inc., Dawson Geophysical Inc., Geotech Ltd., Compagnie Générale de Géophysique (CGG), TGS-NOPEC Geophysical Company L.P., Spectrum Geo Inc., Geophysical Survey Systems, Inc., Sea Geo Surveys Pvt Ltd, ION Geophysical Corporation, Phoenix Geophysics Limited
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Global Geophysical Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Geophysical Services Market, By Technology:

Seismic
Magnetic
Gravity
Electromagnetics
LIDAR
Ground Penetrating
Others

Geophysical Services Market, By Type:

Aerial Based Survey
Land Based Survey

Geophysical Services Market, By Services:

Data Processing
Data Interpretation
Data Acquisition

Geophysical Services Market, By End User:

Agriculture
Environment
Minerals & Mining
Oil & Gas
Water Exploration
Others

Geophysical Services Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia Pacific

§ China

§ India

§ Thailand

§ Indonesia

§ Malaysia

§ Rest of Asia Pacific

o Europe

§ Russia

§ Germany

§ United Kingdom

§ Denmark

§ Norway

§ Rest of Europe

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Nigeria

§ Rest of MEA

o South America

§ Brazil

§ Argentina

§ Chile

§ Rest of South America

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Geophysical Services Market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

· Detailed analysis and profiling of additional market players (up to five).

Global Geophysical Services Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Services Overview

1.1. Market Definition

1.2. Scope of the Study

2. Research Methodology

2.1. Baseline Methodology

2.2. Methodology Followed for Calculation of Market Size

2.3. Methodology Followed for Calculation of Market Shares

2.4. Methodology Followed for Forecasting

3. Executive Summary

4. Impact of COVID-19 on Global Geophysical Services Market

5. Voice of Customer

6. Global Geophysical Services Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Technology (Seismic, Magnetic, Gravity, Electromagnetics, LIDAR, Ground Penetrating, Others)

6.2.2. By Type (Aerial Based Survey, Land Based Survey)

6.2.3. By Services (Data Processing, Data Interpretation, Data Acquisition)

6.2.4. By End User (Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration, Others)

6.2.5. By Region (North America, Asia-Pacific, Europe, Middle East & Africa and South America)

6.2.6. By Company (2022)

6.3. Market Map (By Technology, By Type, By Services, By End User, By Region)

7. North America Geophysical Services Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Technology

7.2.2. By Type

7.2.3. By Services

7.2.4. By End User

7.2.5. By Country

7.3. North America: Country Analysis

7.3.1. United States Geophysical Services Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Technology

7.3.1.2.2. By Type

7.3.1.2.3. By End User

7.3.2. Canada Geophysical Services Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Technology

7.3.2.2.2. By Type

7.3.2.2.3. By End User

7.3.3. Mexico Geophysical Services Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Technology

7.3.3.2.2. By Type

7.3.3.2.3. By End User

8. Asia-Pacific Geophysical Services Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Technology

8.2.2. By Type

8.2.3. By Services

8.2.4. By End User

8.2.5. By Country

8.3. Asia-Pacific: Country Analysis

8.3.1. China Geophysical Services Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Technology

8.3.1.2.2. By Type

8.3.1.2.3. By End User

8.3.2. India Geophysical Services Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Technology

8.3.2.2.2. By Type

8.3.2.2.3. By End User

8.3.3. Thailand Geophysical Services Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Technology

8.3.3.2.2. By Type

8.3.3.2.3. By End User

8.3.4. Indonesia Geophysical Services Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Technology

8.3.4.2.2. By Type

8.3.4.2.3. By End User

8.3.5. Malaysia Geophysical Services Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Technology

8.3.5.2.2. By Type

8.3.5.2.3. By End User

9. Europe Geophysical Services Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Technology

9.2.2. By Type

9.2.3. By Services

9.2.4. By End User

9.2.5. By Country

9.3. Europe: Country Analysis

9.3.1. Germany Geophysical Services Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Technology

9.3.1.2.2. By Type

9.3.1.2.3. By End User

9.3.2. United Kingdom Geophysical Services Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Technology

9.3.2.2.2. By Type

9.3.2.2.3. By End User

9.3.3. Denmark Geophysical Services Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Technology

9.3.3.2.2. By Type

9.3.3.2.3. By End User

9.3.4. Norway Geophysical Services Market Outlook

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Technology

9.3.4.2.2. By Type

9.3.4.2.3. By End User

9.3.5. Russia Geophysical Services Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Technology

9.3.5.2.2. By Type

9.3.5.2.3. By End User

10. Middle East & Africa Geophysical Services Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Technology

10.2.2. By Type

10.2.3. By Services

10.2.4. By End User

10.2.5. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. South Africa Geophysical Services Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Technology

10.3.1.2.2. By Type

10.3.1.2.3. By End User

10.3.2. Saudi Arabia Geophysical Services Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Technology

10.3.2.2.2. By Type

10.3.2.2.3. By End User

10.3.3. UAE Geophysical Services Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Technology

10.3.3.2.2. By Type

10.3.3.2.3. By End User

10.3.4. Nigeria Geophysical Services Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Technology

10.3.4.2.2. By Type

10.3.4.2.3. By End User

11. South America Geophysical Services Market outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Technology

11.2.2. By Type

11.2.3. By Services

11.2.4. By End User

11.2.5. By Country

11.3. South America: Country Analysis

11.3.1. Brazil Geophysical Services Market Outlook

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Technology

11.3.1.2.2. By Type

11.3.1.2.3. By End User

11.3.2. Argentina Geophysical Services Market Outlook

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Technology

11.3.2.2.2. By Type

11.3.2.2.3. By End User

11.3.3. Chile Geophysical Services Market Outlook

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Technology

11.3.3.2.2. By Type

11.3.3.2.3. By End User

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Competition Outlook

14.2. Company Profiles

14.2.1. EON Geosciences Inc.

14.2.2. Dawson Geophysical Inc.

14.2.3. Geotech Ltd.

14.2.4. Compagnie Générale de Géophysique (CGG)

14.2.5. TGS-NOPEC Geophysical Company L.P.

14.2.6. Spectrum Geo Inc.

14.2.7. Geophysical Survey Systems, Inc.

14.2.8. Sea Geo Surveys Pvt Ltd

14.2.9. ION Geophysical Corporation

14.2.10. Phoenix Geophysics Limited

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

Who are the key players in the Global Geophysical Services market?

The key players in the Geophysical Services market include EON Geosciences Inc., Dawson Geophysical Inc., Geotech Ltd., Compagnie Générale de Géophysique (CGG), TGS-NOPEC Geophysical Company L.P., Spectrum Geo Inc., Geophysical Survey Systems, Inc., Sea Geo Surveys Pvt Ltd, ION Geophysical Corporation, and Phoenix Geophysics Limited.

What is geophysical features?

Geophysics deals with a wide collection of geologic phenomena, including the temperature distribution of the Earth's interior; the source, configuration, and variations of the geomagnetic field; and the large-scale features of the terrestrial crust, such as rifts, continental sutures, and mid-oceanic ridges.

What is the best geophysical method?

Seismic surveys are an extremely useful geophysical method for studying the ground conditions to a significant depth and over a large area. Seismic is utilized in many applications for subsurface investigations, mineral exploration being one of them.

What is the purpose of geophysical method?

Geophysical methods can be used for cost-effective site characterization and monitoring by observing variations in the electrical, magnetic, and seismic properties of subsurface materials.

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Parvati Sharma

Account Manager BD

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Press Release

North America is Expected to Dominate the Geophysical Services Market until 2028

Jan, 2023

Increasing hydrocarbons explorations and increasing demand for geophysical technologies are expected to drive the Global Geophysical Services Market during the forecast period of 2024-2028.

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