Portland, OR, May 03, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the ground penetrating radar market generated $0.5 billion in 2020 and is expected to reach $1.1 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030. The report offers a detailed analysis of the changing trends in the market, major segments, major investment pockets, value chain and regional landscape. , and competitive scenario.
Advantages of ground penetrating radar (GPR) systems over traditional technologies such as radiography, increasing concerns related to the safety and protection of underground utilities and demand for a wide range of applications such as infrastructure transportation, concrete investigation, disaster inspection, municipal inspection, geology and environment, and archeology are driving the growth of the global ground penetrating radar market. However, lack of skilled labor for operating GPR equipment is limiting the growth of the market. On the other hand, the modernization of existing infrastructures presents opportunities in the coming years.
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- Due to lockdown restrictions imposed in many countries, manufacturing activities have been halted. In addition, disruptions in the supply chain have resulted in a shortage of raw materials. This factor also impacted manufacturing activities.
- The demand for applications such as concrete investigation, transportation infrastructure, archeology and others has declined significantly due to the shutdown of operations during the lockdown. However, demand picked up after the lockdown.
- Massive manufacturing disruptions across Europe and a ban on Chinese parts export business have limited market growth opportunities during the pandemic.
The report offers detailed segmentation of the global Ground Penetrating Radar market based on component, offering, type, application, and region. Based on components, the control unit segment accounted for the largest share in 2020, contributing almost a third of the total share. However, the antenna segment is expected to witness the highest CAGR of 9.9% from 2021 to 2030.
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Based on type, the portable systems segment contributed the highest share of the global ground penetrating radar market in 2020, accounting for nearly two-thirds of the total market share, and is expected to maintain its leading position during the forecast period. However, it is believed that the cart-based systems segment exhibits the Fastest CAGR of 9.9% from 2021 to 2030.
By region, North America held the highest share in 2020, accounting for almost a third of the total share. However, Asia-Pacific is estimated to show the highest CAGR of 9.6% during the forecast period.
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Key players of the global ground penetrating radar market analyzed in the research include Chemring Group, Guideline Geo, Geophysical Survey Systems Inc., IDS Georadar, Hilti, Penetradar Corp., Leica Geosystems AG, Geoscanners, Radiodetection, and Utsi Electronics Ltd. These markets players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their position in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.