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Geophysical Services in the US - Industry Market Research Report

  • January 2017
  • -
  • Ibisworld
  • -
  • 40 pages

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Uneven ground: Falling crude oil prices will cause industry revenue to plummet

Abstract

Geophysical Services in the US

The Geophysical Services industry's heavy reliance on energy companies has resulted in extreme revenue fluctuations, with revenue rising substantially prior to the current five-year period, thanks to skyrocketing crude oil prices following the economic downturn. However, the tempering of oil prices and their ultimate collapse has led to declining revenue. Industry revenue is projected to grow over the next five years, hampered by rising crude oil prices. Since industry growth generally follows the projected rise of investment in US petroleum and natural gas exploration, growth in energy prices will likely result in more demand for the assessment of onshore natural gas deposits and reservoirs.

Operators in this industry gather, interpret, and map geophysical data. Companies often specialize in locating and measuring the extent of subsurface resources, such as oil, gas, and minerals, but may also conduct surveys for engineering purposes. Companies also use a variety of surveying techniques depending on the purpose of the survey, including magnetic, gravity, seismic, or electrical and electromagnetic surveys.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.



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