Integrated Geophysical Services Global Market Report 2022- Market Size, Trends, And Global Forecast 2022 - 2026

The Business Research Company’s Integrated Geophysical Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 18, 2022 /EINPresswire.com/ -- Drones are increasingly being used by integrated geophysical services companies to get precise information and to decrease the burden on people in the harsh environment. Total’s Multiphysics Exploration Technology Integrated System (METIS) uses the autonomous drones and ground drop off vehicles which don’t need human intervention. METIS is an automated technology which conducts seismic surveys in harsh environments like the desert that are tough on human and equipment.

Increasing demand for oil and gas contributed to the integrated geophysical services industry growth. In 2020, the transportation industry in the United States consumed 44.61 billion gallons (1.06 billion barrels) of distillate fuel, which is effectively diesel fuel, at a rate of around 122 million gallons per day. According to the US Energy Information Administration estimates, global consumption of petroleum and liquid fuel averaged 94.3 million barrels per day in 2019, and it is expected to increase by 3.3 million barrels per day in 2022. The increasing consumption of oil and gas is driving the demand for integrated geophysical services. This is because integration between different oil and gas exploration methods as archaeological surveys and remote sensing from aerial platforms and satellite obtain required geological information and evaluate core samples or cuttings. The sub-surface analysis is important for accurate reservoir and flow modelling leading to more informed production decisions and the ability to produce more energy. According to the global integrated geophysical services market analysis, the increasing demand for oil and gas is therefore driving the market.

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The global integrated geophysical services market is expected to grow from $1.95 billion in 2021 to $2.08 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%. The growth in the integrated geophysical services market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The integrated geophysical services market share is expected to reach $2.56 billion in 2026 at a CAGR of 5.3%.

Major players covered in the global integrated geophysical services industry are CGS, Halliburton, Polarcus, Geokinetics, Petroleum Geo-Services (PGS) and Schlumberger WesternGeco.

TBRC’s global integrated geophysical services market report is segmented by method into vertical electrical sounding, electrical resistivity tomography (ERT), seismic refraction, microgravity survey with differential GPS, magnetic profiles, induced polarization, 2D seismic prospection (refraction tomography and reflection sections), ground penetrating radar (GPR), by application into infrastructure and building constructions, offshore wind farm surveys, offshore cable tracking surveys, mineral exploration and mining engineering, natural resources and energy, water resource, environment and waste management, archaeological surveys, by survey type into aerial-based, land-based.

Integrated Geophysical Services Global Market Report 2022 - By Method (Vertical Electrical Sounding, Electrical Resistivity Tomography (ERT), Seismic Refraction, Microgravity Survey With Differential GPS, Magnetic Profiles, Induced Polarization, 2d Seismic Prospection (Refraction Tomography And Reflection Sections), Ground Penetrating Radar (GPR)), By Application (Infrastructure And Building Constructions, Offshore Wind Farm Surveys, Offshore Cable Tracking Surveys, Mineral Exploration And Mining Engineering, Natural Resources And Energy, Water Resource, Environment And Waste Management, Archaeological Surveys), By Survey Type (Aerial-Based, Land-Based) - Market Size, Trends, And Global Forecast 2022 - 2026 is one of a series of new reports from The Business Research Company that provides a integrated geophysical services market overview, integrated geophysical services forecast, integrated geophysical services market size and integrated geophysical services growth for the whole market, integrated geophysical services market segments, geographies, integrated geophysical services market trends, integrated geophysical services market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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