DUBLIN--(BUSINESS WIRE )--The "Global Geophysical Services Market Size, Trends & Growth Opportunity By Type, By Technology, By End-use, and By Region and Forecast to 2027." report has been added to ResearchAndMarkets.com's offering.
Global Geophysical Services Market Size, Trends & Growth Opportunity By Type (Aerial-based Survey, Marine-based Survey, and Land-based Survey), By Technology (Seismic, Magnetic, Electromagnetic, Gravity, LIDAR, and Others), By End-use (Minerals & Mining, Oil & Gas, Infrastructure, Wind Energy, Water Exploration, Archaeological Research, and Others), and By Region and Forecast till 2027.
The Global Geophysical Services Market is expected to grow from US$ 19.41 Billion in 2021 to US$ 28.04 Billion by 2027; it is estimated to grow at a CAGR of 4.01 % from 2021 to 2027.
The geophysical services market is composed of businesses (organisations, sole proprietors, and partnerships) that locate and gauge the extent of subsurface resources, such as oil, gas, and minerals, as well as carry out surveys for engineering purposes, sell geophysical services and related products. Magnetic, gravity, seismic, electrical, and electromagnetic surveys are a few of the surveying methods.
The fundamental driver of the rise in demand for geophysical services worldwide continues to be rising investment in mining and exploration. The demand for geophysical services is anticipated to increase in the near future due to the rising demand for precious metals including gold, platinum, titanium, and silver. Due to the proven commercial viability of existing onshore oil reserves at a price lower than offshore oil reserves, the oil and gas sector has been placing a focus on onshore areas.
Rising investments in geophysical services in the US are mostly due to the country's increased shale gas reserve exploration. Geophysical service providers must supply seismic services and analytical data for the oil and gas industry. Thus, it is anticipated that the worldwide geophysical services market will be driven by an increase in exploration efforts in developed nations like the US throughout the forecast period. The overall market for geophysical services is anticipated to gain from an increase in energy consumption year over year, which will be followed by an increase in budgets for mining exploration.
Key Questions Addressed by the Report
4. Global Geophysical Services Market Outlook
5. Global Geophysical Services Market, By Type
6. Global Geophysical Services Market, By Technology
7. Global Geophysical Services Market, By End Use
8. Global Geophysical Services Market, By Region
9. North America Geophysical Services Market Analysis and Forecast (2022-2027)
10. Europe Geophysical Services Market Analysis and Forecast (2022-2027)
11. Asia Pacific Geophysical Services Market Analysis and Forecast (2022-2027)
12 Latin America Geophysical Services Market Analysis and Forecast (2022-2027)
13 Middle East Geophysical Services Market Analysis and Forecast (2022-2027)
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900