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

IBISWorld’s industry research report on Geophysical Services provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.


Industry Threats & Opportunities

  • Rising energy prices will drive demand for exploration into onshore natural gas deposits
  • Mergers among key energy producers and exploration companies drove down prices
  • Concentration among the industry’s clients increased, growing purchasing power
  • Industry Analysis & Industry Trends

    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.

    Industry Report - Industry SWOT Analysis Chapter

    The Geophysical Services industry is considered to be in a mature phase of its life cycle. Over the five years to 2016, the price of oil has fluctuated significantly, contributing to considerable revenue volatility. This is largely because industry performance heavily relies on the demand of downstream industries, including oil and gas companies. However, performance fluctuations are projected to be more subdued over the next five years. The industry's contribution to the overall economy, as measured by industry value added (IVA), is expected to increase at an average annual rate of 1.7% in the 10 years to 2021, compared with annualized GDP growth of 2.0% over the same period. Alt

    Additional Insights for the Geophysical Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Geophysical Services Industry are

  • Development of a symbiotic relationship with another industry
  • Access to the latest available and most efficient technology and techniques
  • Ability to accommodate environmental requirements
  • IBISWorld analysts also discuss how external factors such as World production of oil and Demand from mining in the Geophysical Services industry impact industry performance..

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    Industry Products

    What is the Geophysical Services Industry?

    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.

    Industry Products
    Geophysical data collection
    Other specialized services
    Geophysical data sales
    Provision of integrated geophysical services
    Industry Activities
    Geophysical surveying and mapping of subsurface terrain or formations.
    Identifying subsurface fault lines and mineral deposits.
    Magnetic surveys
    Gravity surveys
    Seismic surveys
    Electrical and electromagnetic surveys
    Geophysical surveying for metal mining (contract basis)
    Geophysical surveying for oil and gas fields (contract basis)
    Geophysical surveying for nonmetallic minerals (contract basis)

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • World production of oil
  • Demand from mining
  • World price of natural gas
  • GDP of mainland China

  • Current Performance
  • Volatile market conditions
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Energy prices
  • Recovering profit
  • Table: Geophysical Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Geophysical Services Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Mining
  • Oil Drilling & Gas Extraction
  • Water Supply & Irrigation Systems
  • Construction
  • Public Administration

  • Key Selling Industries
  • Charter Flights
  • Computer & Packaged Software Wholesaling
  • Heavy Equipment Rental
  • IT Consulting
  • Laboratory Supply Wholesaling
  • Ship Building
  • Space Research and Technology

  • Products & Services
  • Geophysical data collection
  • Other specialized services
  • Geophysical data sales
  • Provision of integrated geophysical services
  • Chart: Geophysical Services Industry Products and Services Segmentation

  • Demand Determinants
  • Oil, gas and mineral exploration
  • Government demand

  • Major Markets
  • Oil and gas industries
  • Metal and nonmetallic mineral mining industries
  • Other
  • Government departments and agencies
  • Chart: Major Market Segmentation for the Geophysical Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases and depreciation
  • Wages
  • Rent and utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Geophysical Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Geophysical Services Industry

  • Industry Globalization
    Major Companies
    Schlumberger LimitedFugro NVCGG SAPetroleum Geo-ServicesDawson Geophysical Company
  • Table: Schlumberger Limited - financial performance
  • Table: Fugro NV - financial performance
  • Table: CGG SA - financial performance
  • Table: Petroleum Geo-Services - financial performance
  • Table: Dawson Geophysical Company - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Geophysical Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Geophysical Services Industry
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • World production of oil (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
    Geophysical Survey
  • Combination of the principles of geology and physics that are used to study the substrata of the Earth and its oceans. Used extensively in oil and gas exploration, mineral deposits and in archaeology.
  • Seismic Survey
  • Form of geophysical survey that measures the properties of the Earth by seismic waves using magnetic, electric, gravitational, thermal and elastic theories.
  • Survey Crew
  • Team of people who conduct seismic and other tests and exploratory drills to determine the properties of the Earth.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Geophysical Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Geophysical Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Geophysical Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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