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Magnetic Geophysical Services Market Size

Report ID: GMI8923
Published Date: Apr 2024
Report Format: PDF

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Magnetic Geophysical Services Market Size

Magnetic Geophysical Services Market was valued at USD 1.6 billion in 2023 and is projected to expand at a CAGR of 6.7% from 2024 to 2032. Increasing exploration activities in sectors such as oil and gas, mining, and environmental studies are driving demand for geophysical services.

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Advancements in technology, such as improved sensing capabilities and data analytics, are enhancing the efficiency and accuracy of magnetic geophysical surveys, further fuelling market growth.

Magnetic Geophysical Services Market Report Attributes
Report Attribute	Details
Base Year:	2023
Magnetic Geophysical Services Market Size in 2023:	USD 1.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.7%
2032 Value Projection:	USD 3 Billion
Historical Data for:	2019 - 2023
No. of Pages:	240
Tables, Charts & Figures:	283
Segments covered:	Technology, Survey Type
Growth Drivers:	Growing metal and minerals demand Increasing E&P activities in developing nations Rising environmental monitoring activities
Pitfalls & Challenges:	High initial investment

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of magnetic geophysical services was reached USD 1.6 billion in 2023 and is expected to register over 6.7% CAGR from 2024-2032 owing to the increasing exploration activities in sectors such as oil and gas, mining, and environmental studies worldwide.

Magnetic geophysical services industry from the magnetometers segment is expected to record over USD 1.9 billion by 2032 due to their distinct advantages, including higher sensitivity, improved resolution, and greater depth penetration.

North America magnetic geophysical services industry is expected to surpass USD 900 million by 2032 due to rising demand across industries such as oil and gas exploration, renewable energy projects, mining, and environmental monitoring in the region.

BainGeo, CGG, Dawson Geophysical Company, Fugro, Geotech Ltd., Getech Group plc., Magee Geophysical Services LLC, PARSAN Overseas Private Ltd., PGS, SENSYS GmbH, SkyTEM, Spectrem Air, TGS, and Weatherford, are some of the major magnetic geophysical services companies worldwide.