Geophysical Services and Equipment Market Set for Growth, Expected to Reach $16.15 Billion by 2028
Geophysical Services and Equipment Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Geophysical Services and Equipment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The global market for geophysical services and equipment, essential for studying the earth's subsurface, is poised for steady growth. Starting from $13.14 billion in 2023, it is projected to reach $13.81 billion in 2024, growing at a compound annual growth rate (CAGR) of 5.1%. It will grow to $16.15 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. This growth can be attributed to infrastructure development, increased urbanization, and rising demand for geotechnical engineering and water resource management.
Renewable Energy Demand Drives Market Growth
The shift towards renewable energy sources such as solar and wind power is a key driver for the geophysical services and equipment market. These technologies rely on geophysical surveys to identify suitable locations, boosting the market's expansion. For instance, the European Union achieved a 23.0% share of renewable energy in 2022, underscoring the pivotal role of geophysical services in advancing clean energy solutions.
Explore the global geophysical services and equipment market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample_request?id=14382&type=smp
Key Players and Market Trends
Major companies like Schlumberger Limited, Halliburton Company, and Fugro Suhaimi Company Ltd. are focusing on advanced software solutions to enhance operational efficiency. INOVA Geophysical's HyperQ software, launched in 2021, exemplifies innovation in seismic acquisition and processing, improving subsurface imaging for oil and gas exploration.
Market Segments
• Service Type: Multi-client Data Acquisition, Contractual Data Acquisition, Image Processing
• Equipment Type: Electrical Resistivity, Electromagnetic, Seismic, Other Equipment Types
• Technology: Seismic, Magnetic, Electromagnetic, Gravity, LIDAR, Other Technologies
• End-Users: Minerals and Mining, Oil and Gas, Wind Energy, Water Exploration, Archaeological Research, Others End-Users
Regional Insights: Asia-Pacific Leading Growth
North America dominated the market in 2023, while Asia-Pacific is expected to be the fastest-growing region through 2028. Detailed regional dynamics and growth opportunities are covered comprehensively in the full report.
Access the complete report for an in-depth analysis of the global geophysical services and equipment market:
https://www.thebusinessresearchcompany.com/report/geophysical-services-and-equipment-global-market-report
Geophysical Services And Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Geophysical Services And Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on geophysical services and equipment market size, geophysical services and equipment market drivers and trends, geophysical services and equipment market major players, competitors' revenues, market positioning, and market growth across geographies. The geophysical services and equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
General Dental Devices And Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/general-dental-devices-and-equipment-global-market-report
General Electrical Equipment And Components Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/general-electrical-equipment-and-components-global-market-report
Handheld Surgical Devices And Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/handheld-surgical-devices-and-equipment-global-market-report
About The Business Research Company
The Business Research Company has published over 27 industries, spanning over 8000+ markets and 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.
Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn
Hydrogen Fuel Cells Market 2023
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
