Geophysical Services market report key highlights
- Estimated year-on-year growth rate: 2.00%
- Key market segments: Type (land, marine, and aerial) and geography (North America, Europe, APAC, MEA, and South America)
- Key Consumer Region & contribution: APAC at 45%
Geophysical Services Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3% |
Market growth 2020-2024 |
USD 2.52 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.00 |
Regional analysis |
North America, Europe, APAC, MEA, and South America |
Performing market contribution |
APAC at 45% |
Key consumer countries |
US, China, Russian Federation, France, and Canada |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
CGG SA, EON Geosciences Inc., Geophysical Survey Systems Inc., GeoTech, Halliburton Co., ION Geophysical Corp., PGS ASA, Phoenix Geophysics, Schlumberger Ltd., and TGS-NOPEC Geophysical Co. ASA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Geophysical Services market trend
- 4D surveys increasingly using multi-sensors
The emergence of 4D for the identification of hydrocarbon reserves has benefitted E&P activities, and this technique is being used widely. Improvements in seismic technologies for analyzing the properties of the rock and for identifying hydrocarbon reserves will improve the efficiency of oil and gas extraction. The adoption of 4D technique is being adopted at a high rate owing to an increase in oil and gas exploration projects. This is expected to drive the market during the forecast period.
- Slowdown in investments in oil and gas industry
Volatility in the prices of oil and gas can affect the growth of the market. Upstream companies are adversely impacted by fluctuations in global crude oil prices. The selling price of crude oil is determined by the market, while production costs are largely fixed. Thus, investment decisions and profits are affected because of the capital-intensive nature of oil and gas operations, which results in slow growth or decline in oil and gas E&P activities, including delays and cancellations of oil and gas projects.
View a report sample for extensive insights on key market Drivers, Trends, and Challenges influencing the market.
Key market vendor insights
The geophysical services market is fragmented, and the vendors are deploying growth strategies such as constantly focusing on M&A activities to compete in the market. Some of the key market vendors are:
- CGG SA
- EON Geosciences Inc.
- Geophysical Survey Systems Inc.
- GeoTech
- Halliburton Co.
- ION Geophysical Corp.
- PGS ASA
- Phoenix Geophysics
- Schlumberger Ltd.
- TGS-NOPEC Geophysical Co. ASA
For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download a sample report
Key Segment Analysis by Type
- Land: The land segment will have significant market share growth during the forecast period. Land-based survey plays an important role in the exploration and extraction of various mineral and oil fields. They include techniques such as seismic surveys, magnetic surveys, radiometric surveys, gravity surveys, induced polarity (IP) surveys, and electromagnetic (EM) surveys..
- Marine
- Aerial
Regional Market Analysis
APAC will contribute to 45% of the geophysical services market share growth during the forecast period. China is the major market for the market in APAC. Increasing investments in the oil and gas industry in China and a few countries in Southeast Asia, as well as the focus on optimizing oil and gas production, will spur the growth of the geophysical services market in the region.
Request our report sample for additional highlights and key segments that are expected to impact the market during the forecast period.
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Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five force summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Land - Market size and forecast 2019-2024
- Marine - Market size and forecast 2019-2024
- Aerial - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- CGG SA
- EON Geosciences Inc.
- Geophysical Survey Systems Inc.
- GeoTech
- Halliburton Co.
- ION Geophysical Corp.
- PGS ASA
- Phoenix Geophysics
- Schlumberger Ltd.
- TGS-NOPEC Geophysical Co. ASA
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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