Gravimeter is a type of accelerometer that measures the gravitational force by constantly measuring the downward acceleration of the Earth’s gravity. Gravimeters are primarily used in exploration phases prospecting for subsurface deposits of natural resources such as mineral ores and petroleum reserves. In addition, these instruments are used by geodesists to study the gravitational field and shape of the Earth. Gravimeters are commonly used across a wide range of applications including metrology, geodesy, seismology, petroleum and mineral exploration, geophysical surveys, and several others. 

The most prominent factor driving the gravimeters market is the superior benefits of gravity measurement as compared to other exploration methods. Gravity measurement is relatively less costly and reliable as compared to other methods such as seismic exploration. Gravimeters are highly effective in applications having lower depths. In addition, gravity measurement is easy to perform and is a non-destructive process. Further, anticipated growth in the oil & gas sector too is projected to emerge as a driving factor for the gravimeter market. However, declining exploration budgets from the mining industry may hamper the market growth from the segment.

The evolution of gravimeters too has played a crucial role in market growth. For instance, absolute gravity measurement is a difficult method as it requires accurate measurement of time and distance. Over the period of time, the use of lasers and atomic clocks has facilitated precise measurement of time and distance. This makes absolute gravity measurement more accurate and reliable. Another prominent factor driving the gravimeters market growth is the steady pace of advancement in the industry. Apart from land-based applications, gravimeters are now used on airplanes as well as ships. This significantly broadens and simplifies the application area of gravimeters, thereby supporting the market growth. 

The report titled “Global Gravimeters Market- Growth, Future Prospects, and Competitive Analysis, 2020 – 2028” provides an in-depth analysis of the global gravimeters market in addition to market size and estimates for the period from 2018 to 2028. The research study provides strategic insights on various market segments based on output, platform, application, and cross-sectional analysis for different geographic regions. The report offers a comparative analysis of various segments for the years 2019 and 2028. 

In order to help decision-makers, the report covers competitive profiling of the leading manufacturers of gravimeters, competitive landscape, and key market developments. Some of the major players included in the report are Scintrex Limited, AOSense, Inc., Muquans SAS, ZLS Corporation, Micro-g LaCoste, Inc., GWR Instruments, Inc., Canadian Micro Gravity Pty Ltd., and Dynamic Gravity Systems LLC.

Other detailed analysis covered in the report includes:

• Current and future market trends to pointing out attractive investment areas within the gravimeters industry
• Market drivers, market restraints, and their impact on the market estimations
• In-depth competitive analysis
• 2-year historic market size data (2018 – 2019)

Overall, the research study provides a comprehensive view of the global gravimeters market, offering market size and estimates for the forecast period from 2020 to 2028, considering the above-mentioned dynamics.

In 2016, the overall gravimeters market worldwide was led by the relative gravimeters segment. The segment held almost three fourth of the overall market share in terms of value in 2016. Relative gravimeters are comparatively fast in operation and provide fairly accurate results. Due to ease of operation, these gravimeters have witnessed immense penetration in wide range of applications. The absolute gravimeters segment has witnessed new product development in the recent years with researchers working on developing small and extremely cheap gravimeters. The introduction of such tiny gravimeters could open up new avenues of applications which could not be achieved in the current state of the product.

In 2016, the gravimeters market worldwide was led by land-based gravimeters segment, accounting for over half of the overall market value. Due to wider range of applications of land-based gravimeters as compared to other platforms, the segment is projected to remain dominant in the market during the forecast period. Land-based segment was followed by marine-based gravimeters segment in 2016. In the following years, airborne gravimeters segment is projected to register the highest growth in the market. This is primarily due to increasing adoption of these platforms for geophysical studies.

In 2016, North America dominated the gravimeters market on account of its huge oil & gas and research sectors. The market here is primarily governed by the U.S. contributing to nearly 88% of the overall regional market value. Europe held the second largest share, after North America, in the overall gravimeters market across the globe. In the following years, Asia Pacific is set to register the highest growth in the market. This is primarily attributed to relatively steady oil & gas and mining sector here.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Gravimeters market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Gravimeters market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Gravimeters market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Gravimeters market?
• Which is the largest regional market for Gravimeters market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Gravimeters market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Gravimeters market worldwide?