Mining Industry to Lead Geophysical Equipment Market through 2024
Technological advancements
and rising demand for minerals and the growing exploration activities to fuel global geophysical
equipment market through 2024
According to a report published by TechSci Research on “Global
Geophysical Equipment Market By Equipment Type, By
End User, By Region, Competition, Forecast & Opportunities, 2024”, global geophysical equipment is predicted to
grow at 6.7% CAGR during forecast period on account of improvement in crude oil
and gas price along with rising demand for energy across the developed and
emerging regions. Moreover, increasing demand for oil and gas, growing
exploration activities in emerging countries and growing applications in
environmental geophysics is further positively influencing global geophysical
equipment market.
In terms of end user, global geophysical
equipment market is categorized into mining, oil & gas exploration, geothermal
exploration, groundwater exploration and others. Among these, mining industry
accounted for the majority share in global geophysical equipment market in 2018
and is anticipated to maintain its position during forecast period as well on
account of year-on-year growth in mining activities globally. Moreover, high
demand for geophysical data acquisition services and increase in investments in
the mining sector for geophysics are further anticipated to propel demand for
geophysical equipment in the mining industry.
Browse market data Tables and Figures
spread through 110 Pages and an in-depth TOC on " Global Geophysical Equipment Market "
https://www.techsciresearch.com/report/geophysical-equipment-market/4049.html
In terms of region, global geophysical
equipment market is categorized into North America, Europe, South America,
Middle East & Africa and Asia-Pacific. Among these regions, North America
accounted for a significant portion of global geophysical equipment market. The
region is also anticipated to grow at a healthy rate during forecast period
owing to rising mineral exploration activities in the region. Among the
countries, United States accounted for majority of North America geophysical
market and is expected to remain as the largest market throughout the forecast
period. United States mining industry is one of the largest in the world, led
by high number of geophysical survey activities in areas such as basins of
Oakland, Houston, Seattle, Florida, New York, and Philadelphia.
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“Global geophysical equipment market is
predicted to witness a decent growth landscape over the course of next five
years. The growth of the market is majorly attributable to the exponential rise
in oil and gas exploration activities in different regions. Moreover, significant
rise in demand for minerals and metals is resulting in increasing mining
activities, which is further boosting the growth of global geophysical
equipment market.” said, Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Geophysical Equipment Market By
Equipment Type, By End User, By Region, Competition, Forecast &
Opportunities, 2024” has evaluated the future growth potential of
the global geophysical equipment market and provides statistics and information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in
global geophysical equipment market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
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innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
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