Press release
Ground Penetrating Radar Market ize is Projected to Grow $1.1 Billion by 2030 | Growing at a CAGR of 8.2%
Ground Penetrating Radar Market
The global ground penetrating radar market size was valued at $0.5 billion in 2020, and is projected to reach $1.1 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.
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Ground penetrating radar (GPR) is a geophysical technology for imaging below the surface of ground by using radar pulses. It is a nonintrusive approach of surveying the subsurface to look for metals, concrete, asphalt, pipes, and cables. This nondestructive method detects reflected signals from subsurface structures using electromagnetic (EM) radiation in the microwave frequency band (VHF/UHF frequencies) of the radio spectrum.
Benefit of GPR systems over other traditional technologies such as radiography and rise in concerns related to safety & protection of underground utilities act as the key growth drivers of the global ground penetrating radar market. In addition, surge in demand for GPR for a wide range of applications such as concrete investigation, transportation infrastructure, municipal inspection, disaster inspection, geology & environment, and archaeology foster the market growth.
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Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed maximum revenue in 2020. However, between 2020 and 2030, the GPR market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to increase in demand from the emerging countries such as India, China, and South Korea.
Competitive Analysis:
The ground penetrating radar industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global ground penetrating radar market include,
⦁ Guideline Geo
⦁ Sensors and Software Inc.
⦁ Leica Geosystems AG
⦁ ids georadar
⦁ Utsi Electronics Ltd.
⦁ Radiodetection
⦁ Chemring Group plc
⦁ Geophysical Survey Systems Inc.
⦁ Hilti
⦁ Penetradar Corp.
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Top Impacting Factors:
The prominent factors that impact the ground penetrating radar market growth include increase in government support for deployment of GPRs and rise in concerns related to safety & protection of underground utilities. In addition, rise in demand for real-time GPR services fuels the market growth. However, high initial cost of ground penetrating radar products restricts the market growth. Conversely, high demand from Asia-Pacific is expected to create lucrative opportunities for the market.
Key Benefits for Stakeholders:
⦁ This study comprises analytical depiction of the global GPR market size along with current trends and future estimations to depict imminent investment pockets.
⦁ The overall ground penetrating radar market analysis is determined to understand the profitable trends to gain a stronger foothold.
⦁ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
⦁ The market ground penetrating radar market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
⦁ The Porter's five forces analysis illustrates the potency of the buyers and the ground penetrating radar market share of key vendors.
⦁ The report includes the market trends and the market share of key vendors.
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