A recent report published by Infinium Global Research on the ground penetrating radar market provides in-depth analysis of segments and sub-segments in the global as well as regional ground penetrating radar market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ground penetrating radar market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global ground penetrating radar market. According to the report, the global ground penetrating radar market is projected to grow at a CAGR of about 8% over the forecast period of 2022-2028.
The global ground penetrating radar market was valued at over USD 3600 million in 2022 and is expected to reach more than USD 5600 million in 2028, with a CAGR of about 8.0% during the forecast period. Ground penetrating radar (GPR) is a geophysical technology for imaging below the surface of the ground by using radar pulses. It is a non-intrusive approach to surveying the subsurface to look for metals, concrete, asphalt, pipes, and cables. Rising utilization of ground penetrating radar systems over traditional technologies of detection. Moreover, the increase in the innovative advanced technology and the rising utilization of ground penetrating radar for a wide range of applications such as transportation infrastructure, archaeology, utility detection, disaster inspection, geology and environment, military and law enforcement, and several others are the major factors anticipated to people the growth of ground penetrating radar market during the forecast period.
Increasing government support for the application of ground penetrating radar and growing concerns related to the protection & safety of subversive utilities is the major growth factor for the market growth. Additionally, the increasing demand for real-time ground penetrating radar services propels the growth of the market. The growth of the worldwide ground penetrating radar market is expected to be enhanced because of the factors such as the benefit of advanced GPR systems over old technologies such as an increase in concerns related to the protection & safety of underground utilities, and radiography. Furthermore, an increase in demand for GPR for various applications like geology & environment, transportation infrastructure, concrete investigation, archaeology fuels, municipal inspection, and disaster inspection fuels the market growth within the forecast period. Furthermore, increasing demand from the Asia-Pacific region is projected to create growth opportunities for the market during the forecast period. However, the high installation cost of ground penetrating radar products hampers the growth of the market.
The ground penetrating radar market has a negative impact on the COVID-19 epidemic because of the lockdowns imposed by several countries. Various countries because of the lockdown restrictions have suffered a major loss of revenue and business, due to the shutdown of production units. The uneven supply of raw materials had a major impact on the manufacturing industries because of the outbreak of the COVID-19 pandemic, which further affected the growth of the ground penetrating radar market during the forecast period. Furthermore, a decrease in the investment to develop advanced technology due to the increased investment in building the health care infrastructure has severely affected the growth of the market during the covid-19 pandemic.
Based on the region, the worldwide ground penetrating radar market is segmented into the Asia Pacific, North America, Europe, and also the Middle East & Africa. Among the regions, North America is the largest region in the ground penetrating radar market due to the growth of the transportation infrastructure sector in the U.S. during the forecast period. Rising spending on research and development, and increasing utilization for military purposes to enhance safety have fuelled the market growth European region. The Asia Pacific region is expected to be the fastest-growing region due increasing presence of the major market players in the region during the forecast period.
The report on global ground penetrating radar market covers segments such as type, offering, and application. On the basis of type, the sub-markets include hand held, and cart based. On the basis of offering, the sub-markets include equipment, and services. On the basis of application, the sub-markets include law enforcement, utility detection, and concrete investigation.
The report provides profiles of the companies in the market such as GSSI Geophysical Survey Systems, Inc., IDS GeoRadar, National GPR Service, Inc., Chemring Group, Sensors and Software Inc., Geoscanners AB, Exploration Instruments, LLC, Hexagon AB, SPX Corporation, and Utsi Electronics Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the ground penetrating radar market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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