New York, US, Dec. 08, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Ground Penetrating Radar Market Research Report: Information by Type, by Application, by Region - Forecast till 2030”, the global ground penetrating radar market will touch USD 1.1 billion at an 8.2% CAGR by 2030, as per the present Market Research Future report.
Ground Penetrating Radar Market Analysis
The global ground penetrating radar market's players are finding lucrative money-making opportunities as 3D data formats become more widely used. In comparison to conventional 2D format, 3D offers a number of special benefits, including high clarity and more context.
Increasing Adoption in Water & Wastewater Industry to offer Robust Opportunities
In order to ensure utility safety and safeguard the equipment against damage, there is an increasing need for ground penetrating radar equipment in the water and wastewater industry. This will provide robust opportunities for this market in the forecast period.
Ground Penetrating Radar Market Key Players
Eminent industry players profiled in the global ground penetrating radar market report include,
- IDS Georadar (Italy)
- Sensors & Software Inc. (Canada)
- Guideline Geo (Sweden)
- Chemring Group (UK)
- Geophysical Survey Systems Inc. (GSSI) (US)
- Ground Penetrating Radar Systems LLC (US)
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Restraints
Availability of Alternatives to act as Market Restraint
The availability of alternatives like robot cars and dearth of skilled workforce for operating GPR equipment may act as market restraints in the forecast period. Besides, the impact of the COVID-19 may also impede market growth.
Challenges
Complex Manufacturing Process to act as Market Challenge
The complex manufacturing process, fluctuations in raw material prices, and the high price related to the development and purchase of such mechanical devices may act as market challenges in the forecast period.
Ground Penetrating Radar Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 1.1 Billion |
| CAGR during 2022-2030 | 8.2% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Increasing need for GPRs in military applications |
| Key Market Drivers | GPR equipment is in high demand for utility safety and damage prevention The ground penetrating radar market is predicted to grow due to the benefits of advanced systems over traditional system The market is expanding as a result of rising demand for real-time ground penetrating radar services |
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Ground Penetrating Radar Market Segmentation
The ground penetrating radar market has been classified based on application and type.
By type, handheld systems will lead this market in the forecast period.
By application, transportation infrastructure will domineer this market over the assessment period.
Ground Penetrating Radar Market Regional Analysis
APAC to Lead Ground Penetrating Radar Market
The market in the Asia Pacific will grow at the highest CAGR in the forecast period as a result of the quick structural growth in countries like China and Japan. The Chinese government intends in making significant investments in a number of infrastructure development projects, including the building of roads and railroads. Local governments across the country are issuing special-purpose bonds to raise money for infrastructure projects (SPBs). Real-time monitoring and inspection of the structures are increasingly important due to the nation's propensity for frequent natural disasters such as earthquakes & landslides. The federal government & several regional authorities have been installing monitoring systems in buildings to ensure safety with the help of various businesses.
For example, FBG-instrumented strain tubes & FBG-instrumented anchor bolts were installed for monitoring the Xiaolongtan slope in Yunnan & the Erlangmiao landslide, which crossed oil & gas pipelines in China. However, Asia-Pacific will record the highest CAGR during this time. This is as a result of increased deployment for transportation infrastructure, utility detection, and military applications. In the upcoming years, the market for ground penetrating radar is expected to develop at the highest rate in Asia Pacific. Fast-moving infrastructure projects being developed in advanced economies like Japan and China as well as rising investments by regional governments to expedite these infrastructure development projects are some of the main factors boosting the growth of the Asia Pacific market. Additionally, it is likely that in the upcoming years, rising demand for transportation infrastructure in these economies will spur the growth of the Asia Pacific ground penetrating radar market.
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North America to Have Significant Growth in Ground Penetrating Radar Market
The market for ground penetrating radar in North America is expanding, though, as a result of the region's ageing infrastructure and the increasing demand for renovation and maintenance. Due to the rising demand for GPR systems in geological surveys, North America is predicted to experience rapid growth during the forecast period. In the upcoming years, it is likely that the market will expand quickly due to the rising use of radar sensors in the U.S. During the forecast period, the North America region will grow at an 8.60% CAGR. The market's growth in North America is primarily driven by the extensive use of GPR for geologic surveys.
The USGS (U.S. Geological Survey) has increased antennas in boats or floating antennas on water to conduct GPR in environmental, hydrologic, geologic, and bridge-scour studies. Another important factor driving market growth in the area is the expanding use of radar sensors. Due to the favorable development in the military, utility detection, and transportation infrastructure, the North American ground penetrating radar market is anticipated to hold a sizable share. Every year, the US military invests in cutting-edge equipment upgrades to bring about revolutionary change. The U.S. Army intends to equip a drone with ground-penetrating radar so that it can survey previously inaccessible areas. They are attempting to incorporate this technology onto a chip so that it can show an environment digital map. To expand their capacity for production, the regional players are concentrating on the development of new products.
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In recent years, the demand for GPRs has increased in North America. This demand has been fueled by the growth of the construction industry, particularly the explosion in real estate projects and the construction of infrastructures like roads and bridges. The demand for GPR in military applications has further boosted the region's GPR market. One of the technologies the military can use to locate roadside mines, which typically kill and seriously hurt innocent soldiers and civilians, is this one. Since the technology is quickly becoming a necessary tool for planning mine excursions and explosions, the mining industry has already started to adopt it. The use of GPR drone-integrated systems is also growing. These innovations aim to improve the efficiency of viewing or inspecting subsurface infrastructure.
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