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Asia Pacific Geophysical Services Market Size

Report ID: GMI8766
Published Date: Mar 2024
Report Format: PDF

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Asia Pacific Geophysical Services Market Size

Asia Pacific Geophysical Services Market size was accessed at USD 3.5 billion in 2023 and is projected to grow at a CAGR of 7.2% between 2024 and 2032, driven by increasing exploration activities in the oil and gas sector, coupled with rising demand for mineral resources, are key drivers. Advancements in technology, such as seismic imaging and remote sensing, enhance exploration efficiency and accuracy.

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For instance, in August 2023, Sercel, a CGG subsidiary, introduced MetaBlue, a pioneering data-driven solution for marine seismic survey management and planning. MetaBlue optimizes the entire process, aiming to reduce project turnaround times for marine seismic service providers and exploration and production companies.

Asia Pacific Geophysical Services Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific Geophysical Services Market Size in 2023:	USD 3.5 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.2%
2032 Value Projection:	USD 6.7 Billion
Historical Data for:	2019 to 2023
No. of Pages:	140
Tables, Charts & Figures:	145
Segments covered:	Technology, Survey Type, End User
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 for geophysical services in Asia Pacific reached USD 3.5 billion in 2023 and is set to witness 7.2% CAGR from 2024 to 2032, owing to the increasing exploration activities in the oil and gas sector, coupled with rising demand for mineral resources worldwide.

Asia Pacific geophysical services industry from the seismic technology segment is expected to exceed USD 3 billion by 2032, due to its benefits in resource exploration, offering precise imaging, detection of potential hydrocarbon reservoirs, and evaluation of geological formations.

China market is expected to cross USD 2.4 billion by 2032, attributed to rapid urbanization, infrastructure development, and the need for energy and mineral resource exploration in the country.

CGG, EGS (International) Ltd, Fugro, GeoSiam Geophysical Services Co., Ltd., Getech Group plc, GSL, Halliburton, PGS, Ramboll Group A/S, SAExploration, Sinopec Oilfield Service Corporation, SLB, TGS, and Weatherford, are some of the major geophysical services companies in Asia Pacific.