According to a new market research report published by Credence Research “Gravimeters Market (By Output – Absolute and Relative; By Platform: Land-based, Marine-based and Airborne; By Application: Oil and Gas Exploration, Mineral Exploration, Geological Mapping, Civil Engineering and Others) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global gravimeters market is expected to grow sustainably during the forecast period from 2017 to 2025.
The complete report is available at https://goo.gl/mYKk2k
Gravimeter is an instrument used to measure the Earth’s gravitational force at a given area. These are primarily used in exploration processes to discover underground deposits of natural resources including mineral ores and petroleum reserves. Additionally, gravimeters are used to study gravitational field, shape of the Earth as well as geological activities. One of the most promising factors driving the market is anticipated growth in oil & gas sector. Although oil & gas and mining sector have been witnessing gradual slowdown since the past few years, anticipated increase in exploration budgets is projected to spur the demand for gravimeters in the following years. In addition, advantages of gravity measurement as compared to other exploration methods is another prominent factor driving the market growth. However, high costs of these products coupled with uncertain nature of end-user industries pose significant threat to the market growth.
Gravimeters market is consolidated and characterized by the presence of limited number of players. Most of the leading players are based out of North America with their products supplied throughout the world. One of the most common strategies adopted by the manufacturers of gravimeters is to form alliances with the local survey service providers for better market penetration. Some of the key manufactures of gravimeters include Scintrex Limited, AOSense, Inc., Muquans SAS, ZLS Corporation, Micro-g LaCoste, Inc., GWR Instruments, Inc. and Canadian Micro Gravity Pty Ltd.
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- Market expected to be primarily driven by the demand from oil & gas and mineral exploration activities
- Rising number of geological survey providers making use of gravimeters
- Research towards design and development of compact and cheaper absolute gravimeters