Drilling down: Continued industry consolidation is expected to improve profit margins

The Geophysical Services industry in Canada gathers, interprets and maps geophysical data. Companies often specialize in locating and measuring subsurface resources, such as oil, natural gas and minerals, but they may also conduct surveys for engineering purposes. Since demand for geophysical services is dependent on the global oil, gas and mining sectors, volatile commodity prices have been responsible for the industry's unstable performance. The recovery of global energy and mineral prices is expected to spur industry revenue growth over the five years to 2024. Additionally, industry operators are expected to benefit from greater government demand for geophysical services, as the federal government attempts to stimulate new resource exploration...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 14-19
-2.4%
Forecast Growth 19-24
Profit
Employment
6,772
Businesses
1,426
Market Share of Companies

Industry Threats & Opportunities

  • Operators will benefit from greater government demand for industry services
  • With industry revenue slashed, many companies were forced out of business
  • Demand for geophysical services will be driven by downstream clients
  • Industry Report - Starting a New Business Chapter

    The Geophysical Services industry in Canada has high barriers to entry, including high start-up costs, excess supply of services in the global market and tremendous difficulties associated with establishing a foothold in the market. Industry operators typically accumulate excess supply, with more equipment and industry operators available than worldwide demand. During the recession, the industry was saddled with oversupply as oil producers reduced spending and vessels sat idle. Meanwhile, events such as the Deepwater Horizon oil spill in 2010 have temporarily exacerbated worldwide oversupply by closing off entire geographic regions to exploration...purchase to read more.

    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 (except oil and gas) in the Geophysical Services industry impact industry performance..

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    What's in this report

    What is the Geophysical Services Industry?

    Operators in this industry gather, interpret and map geophysical data. They 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. Operators use a variety of surveying techniques depending on the purpose of the survey, including magnetic surveys, gravity surveys, seismic surveys or electrical and electromagnetic surveys.

    Industry Products
  • Geophysical data sales
  • Geophysical data collection
  • Integrated geophysical services
  • Other specialized services
  • Industry Activities
  • Geophysical surveying and mapping of subsurface terrain or formations
  • Identifying subsurface fault lines and mineral deposits
  • Performing magnetic surveys
  • Performing gravity surveys
  • Performing seismic surveys
  • Performing 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

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World production of oil
  • Demand from mining (except oil and gas)
  • World price of natural gas
  • Value of nonresidential construction

  • Current Performance
  • Volatile downstream demand
  • Industry landscape
  • Volatile profit margins
  • Chart: Revenue Growth

  • Industry Outlook
  • Rising commodity prices will spur demand
  • Benefiting from greater government involvement
  • A changing industry landscape
  • Table: Geophysical Services Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Mining In Canada
  • Oil Drilling & Gas Extraction in Canada
  • Water Supply & Irrigation Systems in Canada
  • Construction In Canada
  • Public Administration in Canada

  • Key Selling Industries
  • Computer & Packaged Software Wholesaling in Canada
  • Heavy Equipment Rental in Canada
  • IT Consulting in Canada
  • Laboratory Supply Wholesaling in Canada
  • Ship Building in Canada

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

  • Demand Determinants
  • Resource exploration

  • Major Markets
  • Oil and gas industries
  • Metal and nonmetallic mineral mining industries
  • Other
  • Governments and public institutions
  • Chart: Major Market Segmentation for the Geophysical Services Industry

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

  • Basis of Competition
    Internal CompetitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Geophysical Services Industry

  • Industry Globalization
    Schlumberger Limited,
  • Table: Schlumberger Limited - financial performance

  • 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
    Table: Industry Data for the Geophysical Services Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)
  • World production of oil (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    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.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Geophysical Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    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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