Global Geophysical Equipment and Services Market | Blackridge Research

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The market for Geophysical Equipment & Services is expected to witness a rapid growth during the forecast period due to rising demand and consumption for LNG. Among all the major regions, North America emerges as the largest market.

Global Geophysical Equipment and Services Market | Blackridge Research

The oil and gas exploration is growing owing to the rise in demand for clean energy clean LNG especially in Asia, coupled with recovery of oil and gas market exploration investment are seen in the following year. According to IEA, global gas demand is expected to grow by 1.6% a year for the next five years, with consumption reaching almost 4,000 billion cubic meters (bcm) by 2022, up from 3,630 bcm in 2016. China will account for 40% of this growth. Demand from the industrial sector becomes the main engine of gas consumption growth, replacing power generation, where growing renewables and competition are squeezing gas from coal.

The mining industry has show recovery in the present owing to the increase in global budget for non-ferrous exploration in the past few years after the market downfall in 2016. The growing demand for alternate energy technologies has surged high requirements for commodities like lithium and cobalt. Increases in battery demand will be a reliable driver of lithium consumption soon. Lithium exploration budgets reached a new high of USD 247.1 Mn in 2018, a 58% increase year over year and will have a positive impact on the market in the following period.

The affordability of renewable energy and government policies for the worlds commitment to reduce CO2 emission has created a rise in demand for low-carbon technology. Clean energy technologies such as wind, solar, and batteries are more material intensive than fossil fuel-based energy systems. And hence, demand for minerals and metals such as copper, lithium, cobalt, graphite and nickel, which are used in low-carbon technologies. According to the World Banks analysis, the global production of critical minerals used in low-carbon technologies is projected to rise by 965% for lithium, 585% for cobalt, 383% for graphite, 241% for indium, 173% for vanadium by 2050.

The global Geophysical Equipment & Services market is segmented on the end-user and equipment type. The market is segmented by the end-user process into the mining industry, oil & gas industry and others. By equipment type, it is segmented into electrical resistivity, electromagnetic, gravity, seismic, and others. Further, the market for Geophysical Equipment & Services is segmented by geography into North America, Europe, Asia Pacific, South America, and Middle-East & Africa. Asia-Pacific will show healthy growth in the forecast period owing to the exploration activities in China and South Asian countries. To increase oil and gas production, China will allow foreign companies to take part in oil and gas exploration and production in the country. In the past, international companies could only enter the industry by working with Chinese firms, such as state-owned enterprises. And policies change applies form May 2020.

Some of the prominent players in the Geophysical Equipment & Services market are Phoenix Geophysics, Geometrics Inc, Geotech Ltd., Sander Geophysics Limited, Crone Geophysics & Exploration Ltd, Quantec Geoscience Pty Ltd, CSA Global, Ramboll Group A/S, DMT Group, and Schlumberger Limited.

In January 2020, Equinox Gold Corp. and Leagold Mining Corporation have entered into a definitive agreement (the Arrangement Agreement ) to combine in an at-market merger (the Transaction ), creating one of the worlds top gold producing companies operating entirely in the Americas. The combined entity will continue as Equinox Gold and be headquartered in Vancouver, Canada.

In December 2019, Chinas two biggest state-owned oil and gas companies are collaborating on large-scale upstream exploration, aiming to expand oil and gas companies, and China Petroleum and Chemical Corp. signed a joint research framework agreement. The 3-year contracts also cover the sharing of offshore facilities.

1. Executive Summary

2. Research Scope and Methodology

9. Conclusions and Recommendations

List of Tables & Figures

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Additional Notes

Disclaimer

• Review the current state of the geophysical equipment and services sector and explore trends and issues impacting the industry.

• Discover information on recent developments in geophysical technologies and its effects.

• Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development.

• Capitalize on growth opportunities to build a strong market position.

• Gain a comprehensive view of the emerging market trends and developments to assess market opportunities.

• Be better informed of your competition by gaining access to detailed information and analysis of key industry players.

• Keep on top of M&A developments, JV’s and other agreements to assess the evolving competitive landscape and enhance your competitive position.

Global Geophysical Equipment & Services Market Revenue, in USD billion, 2019-2025

Global Geophysical Equipment & Services Market Revenue Share, by End User, 2019

Global Geophysical Equipment & Services Market Revenue Share, by Equipment Type, 2019

Global Geophysical Equipment & Services Market Revenue Share, by Region, 2019

Mining Industry - Market Revenue, in USD billion, 2019-2025

Oil & Gas Industry - Market Revenue, in USD billion, 2019-2025

Others- Market Revenue, in USD billion, 2019-2025

Electrical Resistivity - Market Revenue, in USD billion, 2019-2025