Global Geophysical Equipment Market By Equipment Type (Electrical Resistivity; Electromagnetic; Seismic & Others), By End User (Mining; Oil & Gas Exploration; Geothermal Exploration & Others), By Region, Competition, Forecast & Opportunities, 2024
Global geophysical equipment market was valued at $ 9 billion in 2018 and is projected to witness a steady growth of 6.7% CAGR to reach $ 13.5 billion by 2024. Clean energy transition is driving demand for metals and minerals, which is expected to result in rising need for geophysical equipment and services. Geophysical studies can be considered as a great tool as it can enable exploration teams to have remote access to a vast variety of data in a fraction of seconds. Geophysical equipment enables geologists to utilize technology and fetch accurate data in a much lesser period. There are various applications of geophysical, however, it is widely used in mining and oil & gas industry. As a part of oil & gas industry, it is also used in subsea systems. Additionally, maturation of old hydrocarbon reserves and fall in rig counts is expected to propel exploration activities, which in turn, would drive geophysical equipment market across various regions.
In terms of equipment type, geophysical equipment market is categorized into electrical resistivity, electromagnetic, seismic and others. Among these, seismic accounted for a significant share of the market in 2018.
Among regions, the market for geophysical equipment is categorized into North America, Europe, South America, Asia-Pacific and Middle East & Africa. Of all, Middle East and Africa and South America are anticipated to show a healthy growth during forecast period on account of increasing oil and gas exploration activities in the regions.
Developments and innovations in products and technologies are the basic trends in global geophysical equipment market. Some of the major players operating in global geophysical equipment are Phoenix Geophysics, IRIS Instruments, Geotech Ltd., Sercel SA, CSA Global, Ramboll Group A/S, Dawson Geophysical Inc. among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
- bjective of the Study:
- To analyze and forecast global geophysical equipment market size.
- To forecast global geophysical equipment market based on equipment type, end user and regional distribution.
- To identify drivers and challenges for global geophysical equipment market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global geophysical equipment market.
- To conduct pricing analysis for global geophysical equipment market.
- To identify and analyze the profile of leading players operating in global geophysical equipment market.
Some of the leading players in the global geophysical equipment market are Phoenix Geophysics, IRIS Instruments, Geotech Ltd., Sercel SA, CSA Global, Ramboll Group A/S, DMT, Dawson Geophysical Inc., Geoex Ltd., Schlumberger Limited, BGP Inc. etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of geophysical equipment manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the developers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated global geophysical equipment market size using a top down approach, wherein data for various application across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Geophysical equipment stakeholders
- Geophysical equipment end-user industries
- Organizations, forums and alliances related to geophysical equipment market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as equipment manufacturers, Service providers and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
In this report, global geophysical equipment market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, Equipment Type
- Electrical Resistivity
- Market, End User
- Oil & Gas Exploration
- Geothermal Exploration
- Groundwater Exploration
Deep Crustal Research
Earthquake Prediction Research
- Market, by Region:
Company Profiles: Detailed analysis of the major companies present in global geophysical equipment market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.
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