The Integrated Geophysical Services Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. This helps to understand about the crucial opportunities as well as threats that can impact market globally as world economy has great impact due to COVID 19.
The global integrated geophysical services market is expected to grow from $1.35 billion in 2020 to $1.46 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.51 billion in 2025 at a CAGR of 0.8%.
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Top Leading Companies Mentioned are CGS, Halliburton, Polarcus, Geokinetics, Petroleum Geo-Services (PGS), and Schlumberger WesternGeco.
The decreasing investments in seismic surveys are expected to limit the growth of the integrated geophysical services market. The sharp fall in oil prices is the major reason affecting the investments in seismic surveys. The Brent crude oil slumped more than 60 percent from its high peak at the beginning of the year, 2020. The production of unconventional oil, weakening global demand, the unwinding of some geopolitical risks, and an appreciation of the US are some of the factors causing the oil price slump. In March 2020, Polarcus Ltd, a company which operates ships that search for offshore oil and gas by using ships for collecting seismic data, announced the cancellation of two projects due to the effects of the oil price slump on the energy services sector. Therefore, decreasing investments in seismic surveys are negatively affecting the integrated geophysical services market.
The integrated geophysical services market covered in this report is segmented by method into vertical electrical sounding; electrical resistivity tomography (ERT); seismic refraction; microgravity survey with differential GPS; magnetic profiles; induced polarization; 2D seismic prospection (refraction tomography and reflection sections); ground penetrating radar (GPR) and by application into infrastructure and building constructions; offshore wind farm surveys; offshore cable tracking surveys; mineral exploration and mining engineering; natural resources and energy; water resource, environment and waste management; archaeological surveys.
This report provides a detailed analysis of the Integrated Geophysical Services market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.
Following are major Table of Content of Integrated Geophysical Services Industry:
- Integrated Geophysical Services Market Sales Overview.
- Integrated Geophysical Services Market Sales Competition by Manufacturers.
- Integrated Geophysical Services Market Sales Analysis by Region.
- Integrated Geophysical Services Market Sales Analysis by Type.
- Integrated Geophysical Services Market Analysis by Application.
- Integrated Geophysical Services Market -Manufacturers Analysis.
Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Integrated Geophysical Services in these regions, from 2015 to 2030(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa.
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