Geophysical Services in the US - Industry Market Research Report

December 2020 •
52 pages •
Report ID: 199079 •
Format: PDF

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Uneven ground: Comparatively low crude oil prices are expected to limit industry growth

Abstract

Geophysical Services in the US
Operators in the Geophysical Services industry survey and map subsurface terrains to find mineral and energy deposits. While the industry primarily serves mining and energy companies, it also contracts services to government agencies and professional services providers, such as consultant engineers. The industry’s heavy reliance on energy companies has resulted in extreme revenue fluctuations, with revenue rising substantially prior to the five-year period to 2019 due to skyrocketing crude oil prices following the economic downturn. Furthermore, the industry’s long-term potential is contingent upon the continued investment in oil and gas. It has also benefited from the development of advanced 3D seismic survey equipment. However, many operators exit the industry when production and exploration expenditure among oil and gas companies slows. Overall, industry revenue is anticipated to have declined during the current period. The industry is forecast to recover over the five years to 2024, as industry revenue is forecast to rise as a result of stabilizing oil and gas prices.

Operators in this industry gather, interpret and map geophysical data. Companies often specialize in locating and measuring the extent of subsurface resources, such as oil, gas and minerals. However, they may also conduct surveys for engineering purposes. Companies also use various surveying techniques depending on the purpose of the survey, including magnetic, gravity, seismic or electrical and electromagnetic surveys.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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