Product ID: UCMIG10B2009
Geophysical Service Market Size, Share, Growth Analysis, By Technology(Seismic, Magnetic), By Survey Type(Land-based, Marine-based), By End-user(Oil & Gas, Minerals & Mining), By regions(North America, Europe) - Industry Forecast 2024-2031
Report ID:
UCMIG10B2009 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Geophysical Service Market Insights
Market Overview:
The global geophysical services market was worth USD 12.65 billion in 2021, and it is expected to grow at a CAGR of 6.6% during the forecast period, reaching USD 20.55 billion by 2029, starting from USD 13.12 billion in 2022. The COVID-19 pandemic had a significant impact on the demand for geophysical services worldwide, resulting in lower-than-anticipated demand across all regions compared to pre-pandemic levels. Our analysis shows that the global market experienced a decline of -20.2% in 2020 compared to 2019.
Geophysical Service Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Oil & Gas Equipment & Services by segment aggregation, the contribution of the Oil & Gas Equipment & Services in Energy Service and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Geophysical Service Market Report Snapshots
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