Rising demand for precious
metals such as gold, platinum, titanium, and silver is expected to drive global
geophysical services market through 2024
According to
TechSci Research report, “Global Geophysical
Services Market By Technology, By Type, By
Services, By End User, By Region, Competition, Forecast & Opportunities,
2024”, the global geophysical services market is
expected to grow at a CAGR of around 7% during the forecast period. The geophysical
services are witnessing adoption on account of growing investments in mineral
& mining industries, rising instability in crude oil prices and increasing
usage of aerial-based geophysical surveys. Moreover, minerals
are being excavated at a faster rate in order to meet the needs of the rising
population. Mining of precious metals such as gold, copper, silver, and
iron is further fueling the market for geophysical services globally. However, downturn in the oil & gas
industry is likely to hamper the global geophysical services market during the
forecast period.
Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on " Global Geophysical
Services Market"
The global geophysical services
market is segmented based on based on technology, type, services, end user,
region and company. Based on technology, the market can be fragmented into
Seismic, Magnetic, Gravity, Electromagnetics, LIDAR, Ground Penetrating, and Others. The Seismic technology segment is expected to
hold a significant market share during forecast period on account of its
widespread use in oil & gas industry for making critical exploration and
reservoir decisions. Based on type, the market can be bifurcated into Aerial
Based Survey and Land Based Survey. The land-based surveys are expected to
dominate the market during forecast period owing to the surging demand for
seismic surveys in the oil & gas industry. Based on end user, the market
can be categorized into Agriculture, Environment, Minerals & Mining, Oil
& Gas, Water Exploration and Others. The minerals & mining segment is anticipated
to lead the market during the forecast period owing to increasing investments
in the mining industry.
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 and others are some of the
leading players operating in global geophysical services market. The companies
operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share.
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“North America
is expected to be the largest and fastest growing market during the forecast
period, owing to rise in mineral exploration activities and a high number of
geophysical survey activities in the region. The US dominates the geophysical
services market for mineral & mining in North America, led by the high
number of geophysical survey activities in areas such as basins of Oakland,
Houston, Seattle, Florida, New York, and Philadelphia. Additionally, Canada is
one of the largest exporters of minerals and metals in the world.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Geophysical Services Market By Technology, By Type, By Services, By End User, By
Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global geophysical
services market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global geophysical services market.
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