Electromagnetic Geophysical Services Market Analysis

Survey Type (Land Based, Marine Based, Aerial Based)

The land-based segment is predicted to account for 50% share of the electromagnetic geophysical services market during the forecast period. This growth in the segment is set to be encouraged by the rising demand for hydrocarbons, further boosting the need for natural gas. For instance, global natural gas production was estimated to reach over 4 trillion cubic meters in 2022. As a result, the demand for electromagnetic geophysical services is poised to grow for natural gas exploration. Furthermore, the segment's growth is also set to be dominated by growing infrastructure development. This is because the locations where the infrastructure is estimated to be developed need to be surveyed to identify potential threats, including the prevalence of landslides and sinkholes, and further determine a suitable location. Also, the use of electromagnetic geophysical services is poised to rise in archaeological surveys to help identify buried artifacts and structures beneath the ground. This adoption eliminates the time needed for excavations.

End User (Oil & Gas, Mining, Agriculture, Water Exploration)

The oil & gas segment is predicted to account for 40% share of the electromagnetic geophysical services market during the forecast period. This growth is set to be dominated by the growing production of oil. Moreover, with the growing production of oil & gas, the risk of groundwater contamination also increases. Hence, the deployment of electromagnetic geophysical services is predicted to rise to monitor the environmental impact of oil & gas operations. This adoption is also set to be influenced by the government's strict rules and regulations for the oil & gas industry to limit contamination. Furthermore, it has also made tracking non-conventional resources such as shale gas, which otherwise cannot be explored. As a result, market revenue for electromagnetic geophysical services is poised to surge.

Our in-depth analysis of the global market includes the following segments:

Survey Type	Land Based Marine Based Aerial Based
End User	Oil & Gas Mining Agriculture Water Exploration

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing need for water exploration, rising environmental concern, and surging deployment of IoT in electromagnetic geophysical services.

The market size of electromagnetic geophysical services is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.

The major players in the market are Ocean Floor Geophysics, Inc., TGS, CGG, Geotech Ltd., and others.

The land-based segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Electromagnetic Geophysical Services Market Analysis