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North America Geophysical Services Market Trends

Report ID: GMI8619
Published Date: Mar 2024
Report Format: PDF

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North America Geophysical Services Market Trends

The North America geophysical services industry is witnessing growth due to increasing demand from oil & gas, mining, and infrastructure sectors. Advanced technologies like 3D seismic surveys, ground penetrating radar, and electromagnetic surveys are gaining traction for resource exploration and environmental studies. For instance, in September 2022, Seequent, a Canadian airborne survey services provider, unveiled 'Mobile Magnetotellurics', advancing subsurface mapping for mineral exploration and environmental monitoring with greater precision. Additionally, the market is influenced by factors such as technological advancements, regulatory policies, and the shift towards renewable energy sources, driving innovation and investment in geophysical services.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size for geophysical services in North America reached USD 5.6 billion in 2023 and is set to witness 6.1% CAGR from 2024 to 2032, owing to increasing exploration activities for oil and gas reserves, particularly in unconventional resources in the region.

North America geophysical services industry from the seismic technology segment is expected to surpass over USD 5.6 billion by 2032, due to offering crucial advantages in resource exploration, including accurate imaging of subsurface structures.

U.S. market is poised to cross USD 8 billion by 2032, attributed to expansion in the oil and gas sector, which fuels demand for advanced exploration technologies like seismic imaging, in the area.

CGG, Dawson Geophysical Company, Fugro, Getech Group plc, Halliburton, NUVIA Dynamics Inc., Paradigm Group B.V., PGS, Ramboll Group A/S, SAExploration, SLB, Spectrum Geophysics, TGS, and Weatherford, are some of the major geophysical services companies in North America.