According to a new market research report published by Acute Market Reports “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, 2020 - 2028”, the global gravimeters market is expected to grow sustainably during the forecast period from 2020 to 2028.
The complete report is available at https://www.acutemarketreports.com/report/gravimeters-market
Market Insights:
Gravimeter is an instrument used to measure the Earth’s gravitational force in 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 the gravitational field, the shape of the Earth as well as geological activities. One of the most promising factors driving the market is anticipated growth in the oil & gas sector. Although the oil & gas and mining sector has been witnessing a gradual slowdown since the past few years, the anticipated increase in exploration budgets is projected to spur the demand for gravimeters in the following years. In addition, the advantages of gravity measurement as compared to other exploration methods are another prominent factor in driving the market growth. However, the high costs of these products coupled with the uncertain nature of end-user industries pose a significant threat to market growth.
Competitive Insights:
The gravimeters market is consolidated and characterized by the presence of a 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, GWR Instruments, Inc., Canadian Micro Gravity Pty Ltd., and Dynamic Gravity Systems LLC.
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