ID: MRFR/SEM/9555-HCR | February 2023 | Region: Global | 150 Pages
Ground Penetrating Radar Market is expected to grow USD 1.1 billion at a CAGR 8.2% during the forecast period 2022-2030.
$1.1 billion
8.2%
North America
2022-2030
The global ground penetrating radar market size is projected to be worth ~USD 1.1 billion by 2030, registering a CAGR of ~8.2% during the forecast period (2022 - 2030)
A geophysical device called a ground-penetrating radar (GPR) sensor can record underlying features without the need for drilling. GPR is a non-destructive technique that uses sophisticated radar to transmit electromagnetic pulses at various frequencies (Up to 1000 MHz). Subsurface structures reflect these frequencies. Due to a swift change in velocity, the sent pulses will pull back when they are transmitted over multiple materials. Increasing rental purchases of GPR systems to grow the Ground Penetrating Radar Market. It is anticipated that the industry will be driven by worries about the security and protection of subsurface services. Additionally, government backing for the use of ground-penetrating radars is accelerating market expansion. Future market prospects will be brought on by a high demand for real-time GPR services and an outdated infrastructure. The impending obstacles for the market, however, are related to a lack of knowledge and skills required to operate GPR equipment.
The COVID-19 pandemic has affected the electronics industry, which has led to production facilities suspending their operations. This, in turn, has led to an increase in demand for semiconductors and electronic goods. Its most significant repercussions include the cessation of a significant amount of manufacturing activity across Europe and the cessation of Chinese parts exports, both of which impede the ground-penetrating radar market opportunity. Once the economy starts to show signs of improvement, it is anticipated that the demand for items that are both new and inventive will increase.
Drivers
Market Opportunities
Market Restraints
Value Chain Analysis
The global ground penetrating radar market is projected to exhibit significant growth during the forecast period. This is attributed to factors such as the rising usage of radar, and the growing military applications. In addition, a surge in demand for real time ground penetrating radar services has further contributed to the market growth. The value chain analysis for the market is comprised of five major components, which start with research & product development, followed by product manufacturing, distribution & sales, and end with post-marketing surveillance.
By Type
Based on type, the Ground Penetrating Radar Market is segmented into handheld systems, cart-based systems, and vehicle-mounted systems. The handheld systems is expected to grow at significant CAGR over the forecast period. The concrete inspection sector benefits greatly from handheld GPR equipment. They may be used to instantly gauge the thickness of concrete slabs and find rebars, conduits, post-tension cables, and voids. In small areas or above the head survey locations, their compact shape makes concrete inspection simple, and their ruggedized plastic casing and wheels assure long-lasting performance. They have an all-in-one concrete inspection tool that combines the control unit, positioning system, and antenna into a single, maneuverable item. Because there are no cables, boxes, or bulky pieces of equipment in the entire series, users may travel easily between job sites. With the help of cutting-edge algorithms, the instrument assists in target detection by showing targets as tiny dots when conduit or rebar features are recognized. SPX Corporation, Hexagon AB, Geophysical Survey Systems, Inc., Chemring Group PLC, and Hilti are among the well-known suppliers of portable GPR systems.
By Application
Based on application, the Ground Penetrating Radar Market is segmented into utility detection, archaeology, concrete investigation, transportation infrastructure, law enforcement & military, geology & environment, others. The transportation infrastructure is expected to grow at highest CAGR during the forecast period. Infrastructure for transportation consists of things like roads, railroads, bridges, airports, ports, canals, and tunnels. With GPR, there is an increasing need for condition assessments of transportation infrastructure. It is possible to scan bridge decks, parking decks, and other structures to determine the degree of deterioration without causing any damage. GPR equipment is mostly used for pavement forensics, buried target finding, sinkhole and void detection, and pavement scanning. Additionally, they have employed in bridge forensics and deck deterioration studies.
The ground penetrating radar market based on the region has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Due to the swift structural growth in nations like China and Japan, the market in the Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. The Chinese government intends to make significant investments in a variety of infrastructure development projects, including those involving the construction of roads and railroads. Thus, through issuing special-purpose bonds, the local governments of the nation are attempting to raise money for infrastructure projects (SPBs). The demand for real-time monitoring and inspection of the structures grows as a result of the nation's propensity for frequent natural disasters like earthquakes and landslides. To assure safety, the government and several regional authorities are installing monitoring systems in buildings with the assistance of various businesses. For instance, FBG-instrumented strain tubes were erected in the Erlangmiao landslide, crossing oil and gas pipelines in China, to monitor subsurface displacements, while FBG-instrumented anchor bolts were installed to monitor the Xiaolongtan slope in Yunnan.
Over the forecast period, Europe is expected to hold a significant market share. This growth is attributed to the UK government's growing support for the use of GPRs. Throughout the anticipated era, the rest of the world experiences extraordinary growth. The Middle East and Africa are seeing an increase in underground mineral exploration, which is responsible for this expansion.
The key industry players are adopting various business strategies such as significant investments in R&D activities to increase their market presence and to expand their product portfolio thereby, driving the ground penetrating radar market. In addition, the market players are adopting several strategic initiatives such as new product launches, mergers & acquisitions, contractual agreements, increasing investments, and collaboration with other players to expand their global footprint. For instance, in October 2019, GSSI, a US based GPR equipment manufacturer, announced the launch of new 200 MHz antenna. It is intended for applications that demand greater penetration depth.
The study covers the existing short-term and long-term market effects. It helps decision-makers to draught short-term and long-term business plans by region. The report covers major regions in North America, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.
Global Ground Penetrating Radar Market, By Type
Global Ground Penetrating Radar Market, By Application
Global Ground Penetrating Radar Market, By Region
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: ~USD 1.1 Billion |
CAGR | ~8.2% |
Base Year | 2020 |
Forecast Period | 2022-2030 |
Historical Data | 2018, 2019, and 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, and Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World |
Key Vendors | 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) |
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 |
The global ground penetrating radar market is registering a CAGR of ~8.2% during the forecast period (2022 - 2030)
The global ground penetrating radar market size is projected to be worth ~USD 1.1 billion by 2030
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)
Asia Pacific is anticipated to grow at the highest CAGR over the forecast period