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Magnetic Geophysical Services Market Trends

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

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Magnetic Geophysical Services Market Trends

The magnetic geophysical services industry is witnessing a notable growth owing to several key trends. There is an increasing adoption of advanced technologies such as drone-based surveys and AI-driven data analysis, enhancing the efficiency and accuracy of exploration activities. Rising environmental concerns are driving demand for geophysical surveys for groundwater exploration and environmental monitoring. In addition, the market is experiencing growth in emerging economies, particularly in Asia-Pacific and Africa, fueled by infrastructure development and natural resource exploration initiatives.

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.