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Global Geophysical Services (Land, Marine, Aerial) Market Report 2021: Market is Expected to Reach $9.74 Billion in 2025 at a CAGR of 0.9%DUBLIN, June 23, 2021 /PRNewswire/ -- The "Geophysical Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering. The global geophysical services market is expected to grow from $8.69 billion in 2020 to $9.38 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The market is expected to reach $9.74 billion in 2025 at a CAGR of 0.9%. The geophysical services market consists of the sales of geophysical services and related goods by entities (organizations, sole traders and partnerships) that locate and measure the extent of subsurface resources, such as oil, gas, and minerals, and also conduct surveys for engineering purposes. The surveying techniques include magnetic surveys, gravity surveys, seismic surveys, or electrical and electromagnetic surveys. Only goods and services traded between entities or sold to end consumers are included. The geophysical services market covered in this report is segmented by service into geophysical data collection, geophysical data sales, integrated geophysical services and othergeophysical services. It is also segmented by survey type into land, marine, aerial, by technology into seismic, magnetic, gravity, electromagnetic, LIDAR, ground penetrating, others, by application into road, rail, port, airport, pipeline, others, and by end user into agriculture, environment, minerals and mining, oil and gas, water exploration, others. In September 2020, Liberty Oilfield Services, a US-based, oilfield service company, announced the acquisition of the hydraulic fracturing arm of Schlumberger Ltd for $448 M. With the help of this deal, Liberty will gain the OneStim business unit of Schlumberger and expand technology portfolio in geophysical services. Schlumberger is a US-based company providing services in oilfields, geophysics, and others. It was founded in 1926. Growing exploration activities is contributing to the growth of the geophysical services market. Mineral exploration aims to discover deposits of minerals and rocks that can be used to meet the resource needs of society which could be fulfilled by geophysical services. According to the Australia Bureau of Statics, released in August 2020, in the first quarter of June 2020, mineral exploration expenditure rose 11.91%, or $72.7 million to $683.3 million. As per GoldHub of World Gold Council, the gold mine of Russia saw an 8% increase year-on-year (y-o-y) production in 2019. Total mine production of Australia rose by 3% y-o-y due to higher production at a few mines. Thus, the rise in production and exploration in different sectors by using geophysical devices is paving the growth for the geophysical services market. Key Topics Covered:
6.2. Global Geophysical Services Market, Segmentation by Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Geophysical Services Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.4. Global Geophysical Services Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Geophysical Services Market Regional and Country Analysis
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