The geophysical services market size was valued at $14.4 billion in 2021, and geophysical services industry is estimated to reach $21.4 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.
Geophysical services refer to a range of techniques and methods used to study and map the physical properties of the Earth’s subsurface. These services are crucial in various industries, including oil and gas exploration, mineral exploration, environmental assessment, engineering, and geotechnical studies.
Geophysical surveys involve the use of various instruments to collect data about the Earth’s subsurface characteristics, such as its composition, density, magnetic properties, and more.
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Ground Penetrating Radar (GPR): GPR uses radar pulses to image the subsurface. It’s effective for shallow investigations and can identify buried objects, structures, and voids. GPR is used in civil engineering, archaeology, and utility detection.
Borehole Geophysics: Borehole geophysics involves collecting data from within boreholes drilled into the Earth’s subsurface. Tools such as gamma-ray detectors, resistivity probes, and acoustic devices are used to gather information about rock properties, fluid content, and geological structures.
Seismoelectric Surveys: Seismoelectric surveys measure the electrical potential generated by seismic waves as they interact with subsurface materials. This method is used to detect fluid movements and boundaries in the Earth’s subsurface.
Remote Sensing: Remote sensing techniques involve collecting data from satellites or aerial platforms to study surface features and vegetation patterns. While not directly subsurface methods, remote sensing can provide valuable information about the Earth’s topography and surface conditions.
North America would exhibit CAGR of 4.1% during 2022-2031.
Aerial based survey is bifurcated into drone based and others. In addition, on the basis of end use, the global geophysical services market is segmented into minerals & mining, oil & gas, wind energy, water exploration, archaeological research and others.
The major companies profiled in geophysical services market report include Schlumberger, CGG, Petroleum Geo-service, TGS, Shearwater Services, Dawson Geophysical Company, Fugro, SGS SA, EON Geosciences, Ramboll Group A/S, Getech, NUVIA Dynamics Inc., Spectrum Geophysics, Abitibi Geophysics, and Xcalibur Multiphysics.
Due to rapidly development of industrialisation has led to the development of demand for heavy manufacturing industries, and light manufacturing industries which in-turn has fuelled the demand for geophysical services as the raw materials used in these industries are declining at a rapid pace.
Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the detection technologies have led to attain key developments in the global geophysical services market trends.
The demand for geophysical services in the oil & gas industries due to the decline in the known resources, owing to its technical application in oil & gas exploration, companies operating in the market are increasing their data base related to geophysics which can be used by many end use industries.
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The rapid industrialization and urbanization has led to increase in the demand for green energy. Owing to the demand for power from green resource led to the increase in the demand for wind energy.
Seismic Surveys: Seismic surveys involve generating and recording seismic waves to create images of subsurface structures. These waves, often produced by vibrating sources or explosions, travel through the Earth and are reflected back by different rock layers. Seismic data is used in oil and gas exploration, geothermal energy assessment, and geological mapping.
Electromagnetic (EM) Surveys: EM surveys measure variations in electromagnetic fields to detect subsurface features. Ground-based or airborne electromagnetic systems are used to identify conductivity contrasts, which can indicate the presence of minerals, groundwater, or hydrocarbons. EM surveys are used in mineral exploration, groundwater studies, and environmental investigations.
Gravity Surveys: Gravity surveys measure variations in the Earth’s gravitational field caused by differences in subsurface density. These variations can help identify geological structures, such as faults, basins, and ore bodies. Gravity surveys are used in mineral exploration and geological mapping.
Magnetic Surveys: Magnetic surveys detect variations in the Earth’s magnetic field caused by magnetic properties of subsurface materials. These surveys are used to map magnetic anomalies, which can indicate the presence of rock formations and geological structures. Magnetic surveys are commonly used in mineral exploration and archaeological studies.
The government of various countries have invested in the development of onshore and offshore wind energy which needs strong support of geophysical data.
The increase in the utilization of geophysical services in the archaeological research to excavate the buried history of ancient civilization also has positive impact on the market.
The presence of natural hazards such as earthquake, tsunami, and floods, has increased the demand for geophysical services market in mining and marine exploration.
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Geophysical services play a vital role in systematic compilation of geophysical data. Data acquisition in geophysical survey is done through various methods. A complete geophysical survey helps extract information about the topography and subsurface of the earth. It has wide range of application in exploration of oil & gas, minerals, water, archaeological research, and others.
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