Ground Penetrating Radar Market is estimated to reach $1.1 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030

According to a new report published by Allied Market Research, titled, "Ground Penetrating Radar Market," The ground penetrating radar market size was valued at $0.5 billion in 2020, and is estimated to reach $1.1 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030. Asia-Pacific is expected to be the leading contributor toward the ground penetrating radar market during the forecast period, followed by LAMEA and Europe.

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Ground penetrating radar (GPR) is a geophysical locating technique that uses radio waves to record images beneath the ground's surface in a noninvasive manner. The ability to determine the placement of subterranean services without disturbing the ground is a key benefit of GPR.

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. However, lack of skilled workforce to operate GPR equipment acts as a major deterrent factor of the global market. Conversely, modernization of existing infrastructure is expected to offer remunerative opportunities for the expansion of the global GPR market in the near future.

Moreover, developing nations tend to witness high penetration of GPR products, especially in transportation infrastructure and utility detection segments, which is anticipated to augment the ground penetrating radar market growth. Increase in government support for deployment of GPRs further accelerates the market growth.

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The global ground penetrating radar industry is segmented into type, component, offering, application, and region. By type, the market is classified into handheld systems, cart-based systems, and vehicle-mounted systems. On the basis of component, it is fragmented into control unit, antenna, power supply, and others. As per offering, it is bifurcated into equipment and services. Depending on application, it is categorized into utility detection, concrete investigation, transportation infrastructure, archaeology, and others. Also, the report provides a detailed ground penetrating radar market analysis based on competitive intensity and how the competition will take shape in coming years.

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.

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KEY FINDINGS OF THE STUDY
• The equipment segment is projected to be the major offering, followed by services.
• Asia-Pacific and North America collectively accounted for more than 55% of the ground penetrating radar market share in 2020.
• India is anticipated to witness highest growth rate during the forecast period.
• U.S. was the major shareholder in the North America GPR market, accounting for approximately 78% share in 2020.
• Depending on application, the transportation infrastructure segment generated the highest revenue in 2020. However, the utility detection segment is expected to witness the highest growth rate in the future.
• Region wise, the GPR market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.

The key players profiled in the report include Chemring Group, Geophysical Survey Systems Inc., Guideline Geo, Hilti, IDS Georadar, Leica Geosystems AG, Penetradar Corp., Radiodetection, Geoscanners, and Utsi Electronics Ltd. These players have adopted various strategies such as partnership, acquisition, and product launch to strengthen their foothold in the industry.

Report Overview : https://www.alliedmarketresearch.com/ground-penetrating-radar-market-A07391

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