GLOBAL GEOPHYSICAL SERVICES MARKET FORECAST & OPPORTUNITIES 2014 – 2024 MARKET INTELLIGENCE . CONSULTING www.techsciresearch.com
May 26, 2020
GLOBAL GEOPHYSICAL SERVICES MARKET
FORECAST & OPPORTUNITIES
2014 – 2024
MARKET INTELLIGENCE . CONSULTINGwww.techsciresearch.com
2
Scope of ReportProduct of Interest (POI): Geophysical Services
Review Period
2014 – 2017
Base Year
2018
Estimated Year
2019
Forecast Period
2020 – 2024
Year Range
REGION
• North America
• Europe
• Middle East & Africa
• Asia-Pacific
• South America
The global geophysical services market is expected to witness significant growth during the forecastperiod owing to the increasing investments in mining and oil & gas exploration activities. Moreover,demand for geophysical services for mineral extraction is expected to increase on account of thestringent environmental regulations imposed by the governments in several countries. Additionally,high demand for geophysical data acquisition services and rising investments in the mining sector forgeophysics are anticipated to propel the geophysical services market during the next five years.
Market Segmentation
TYPE
• Aerial Based Survey
• Land Based Survey
TECHNOLOGY
• Seismic
• Magnetic
• Gravity
• Electromagnetics
• LIDAR
• Ground Penetrating
• Others
SERVICES
• Data Processing
• Data Interpretation
• Data Acquisition
END USER
• Agriculture
• Environment
• Minerals & Mining
• Oil & Gas
• Water Exploration
• Others
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Table of Contents
S. No. Contents Page No.
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Geophysical Services Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1.By Technology (Seismic, Magnetic, Gravity, Electromagnetics, LIDAR, Ground Penetrating, Others)
5.2.2. By Type (Aerial Based Survey, Land Based Survey)
5.2.3. By Services (Data Processing, Data Interpretation, Data Acquisition)
5.2.4. By End User (Agriculture, Environment, Minerals & Mining, Oil & Gas, Water Exploration, Others)
5.2.5. By Company (2018)
5.2.6.By Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa)
5.3. Market Attractiveness Index
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Table of Contents
S. No. Contents Page No.
6. Asia-Pacific Geophysical Services Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Technology
6.2.2. By Type
6.2.3. By Services
6.2.4. By End User
6.2.5. By Country
6.3. Asia-Pacific: Country Analysis
6.3.1. China Geophysical Services Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Technology
6.3.1.2.2. By Type
6.3.1.2.3. By End User
6.3.2. India Geophysical Services Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Technology
6.3.2.2.2. By Type
6.3.2.2.3. By End User
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Table of Contents
S. No. Contents Page No.
6.3.3. Thailand Geophysical Services Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Technology
6.3.3.2.2. By Type
6.3.3.2.3. By End User
6.3.4. Indonesia Geophysical Services Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Value
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By Technology
6.3.4.2.2. By Type
6.3.4.2.3. By End User
6.3.5. Malaysia Geophysical Services Market Outlook
6.3.5.1. Market Size & Forecast
6.3.5.1.1. By Value
6.3.5.2. Market Share & Forecast
6.3.5.2.1. By Technology
6.3.5.2.2. By Type
6.3.5.2.3. By End User
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Table of ContentsS. No. Contents Page No.
7. Europe 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. Europe: Country Analysis
7.3.1. Germany 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. United Kingdom 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
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Table of Contents
S. No. Contents Page No.
7.3.3. Denmark 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
7.3.4. Norway Geophysical Services Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Technology
7.3.4.2.2. By Type
7.3.4.2.3. By End User
7.3.5. Russia Geophysical Services Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Technology
7.3.5.2.2. By Type
7.3.5.2.3. By End User
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Table of Contents
S. No. Contents Page No.
8. North America 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. North America: Country Analysis
8.3.1. United States 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. Mexico 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. Canada Geophysical Services Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
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Table of Contents
S. No. Contents Page No.
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
9. South America 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. South America: Country Analysis
9.3.1. Brazil 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. Argentina 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
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Table of Contents
S. No. Contents Page No.
9.3.2.2.2. By Type
9.3.2.2.3. By End User
9.3.3. Chile 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
9.3.2.2.3. 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
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Table of Contents
S. No. Contents Page No.
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. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
14. Strategic Recommendations
15. About Us & Disclaimer
RESEARCH METHODOLOGY
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Research Methodology
✓ Identifying Key Opinion
Leaders
✓ Questionnaire Design
✓ In-depth Interviews
Data Collection
Developing List of Respondents
Formulating Questionnaire
Market Profiling
Data Validation
Data Analysis
In-depth secondary research was conducted to
determine top players in the global geophysical
services market, overall market size and segmental
market size.
In order to conduct industry experts’
interviews, TechSci formulated a detailed
discussion guide.
List of industry players and industry
specialists was developed.
TechSci conducted interviews with
industry experts and industry players for data collection and
verification.
Data obtained as a result of primary
and secondary research was
validated through rigorous
triangulation.
The data was scrutinized using MS-Excel, statistical
tools and internal proprietary database to obtain qualitative and
quantitative insights about the global geophysical
services market.
Data
Collection
Data Filter
& AnalysisResearch &
Intelligence
Actionable
InsightsBusiness
Solution
Primary Research Desk Research Company Analysis
✓ Recent Developments
✓ Market Changing
Aspects/Dynamics
✓ Government Policies
✓ Conclusion
✓ Market Participants
✓ Key Strengths
✓ LinkedIn✓ TechSci Internal
Database
✓ Factiva✓ Hoovers
Paid Sources
✓ Company Websites✓ Company Annual
Reports✓ White Paper Study✓ Financial Reports✓ Investor
Presentations✓ Regulatory Body✓ Associations, etc.
Secondary Research
Primary Research
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Research Methodology
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of the global geophysical services market. The team has analyzed
the outlook of various segments of this market, while considering the major influencing factors such as increasing investments in mining and oil & gas
exploration activities. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to
achieve sustainability in the global geophysical services market.
Methodology Followed for Calculation of Market Size:
• Market Size by Value: Market size, in terms of value, for the year 2018 was calculated based on information collected through exhaustive
secondary research and primary surveys, with various key opinion leaders/stakeholders, such as geophysical services companies, channel partners,
market influencers & end users, industry experts, and other industry participants.
• The team interviewed more than 15 – 20 geophysical services companies, 100 – 120 end users, and 15 – 20 industry experts and other value chain
stakeholders in the global geophysical services market to obtain the overall market size from 2014 to 2018, which was validated by the Delphi
technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2014-2018.
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Research Methodology
• Respondents were asked about the current and future market growth rates, market shares by technology, by type, by services, by end user, by each
region, and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated
across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further
triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares:
Market shares by technology, by type, by services, by end user, by region and by company were calculated based on the responses received through
primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of
geophysical services markets. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after
eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in
SPSS/Tableau Software.
• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global geophysical
services market, TechSci Research used various forecast techniques such as:
✓ Moving Average
✓ Time Series Analysis
✓ Regression Analysis
✓ Econometric and Judgmental Analysis
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Research Methodology
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used
the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that
the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD),
with the market size indicated in USD million.
Partial List of Companies Interviewed Key Secondary Sources
▪ 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
▪ World Bank
▪ TechSci Research Proprietary Database & Knowledge
Repository
▪ Company Annual Reports
▪ Industry Magazines
▪ Industry Reports
▪ News Dailies
▪ Credible Paid Databases
17
INDUSTRY BRIEF
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 projected to cross $ 16 billion by 2024. Geophysical services are witnessing increasing adoption on account of
growing investments in mineral & mining industries, rising instability in crude oil prices and increasing demand of aerial-based geophysical surveys. Moreover, the matured
hydrocarbon reserves are impelling the oil & gas exploration activities. Furthermore, the improvement in crude oil prices are expected to bring new project, that are likely to
propel the demand for geophysical surveys, therefore driving the global geophysical services market during the forecast period.
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 oil & gas segment is anticipated to lead the market during the forecast period owing to increasing investments in the mining industry.
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.
“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 among the largest exporters of minerals and
metals, globally.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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SAMPLE DATA - SNAPSHOT
Global Geophysical Services Market Size, By Value (USD Million), 2014–2024F
5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00
2014 2018 2019E 2024F
By Value (USD Million)
CAGR By Value CAGR By Value
XX% YY%
North America Geophysical Services Market Share, By Technology, By Value, 2014–2024F
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
10%10%10%10%10%10%10%10%10%10%10%
2014
2015
2016
2017
2018
2019E
2020F
2021F
2022F
2023F
2024F
Seismic Magnetic Gravity Electromagnetics LIDAR Ground Penetrating Others
United States Geophysical Services Market Share, By Technology, By Value, 2014–2024F
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
15%15%15%15%15%15%15%15%15%15%15%
10%10%10%10%10%10%10%10%10%10%10%
2014
2015
2016
2017
2018
2019E
2020F
2021F
2022F
2023F
2024F
Seismic Magnetic Gravity Electromagnetics LIDAR Ground Penetrating Others
19
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Report Name: GLOBAL GEOPHYSICAL SERVICES MARKET
FORECAST & OPPORTUNITIES
2014 – 2024
About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci
Research provides market research reports in number of areas to organizations. The company uses innovative business
models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting
models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a
unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of
company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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Partial List of Clients
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation
is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been
obtained from various sources including which it considers reliable and firsthand. However, TechSci Research does not guarantee the
accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from
the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The
information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are
indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will
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