The ground penetrating radar market
(GPR) is expected to reach USD 726 million by 2024 from USD 493 million by 2019
at a CAGR of 8.1% from 2019 to 2024.
The major
key factors driving the growth of this market are concerns related to safety
and protection of underground utilities, advantages of GPR systems over other
traditional technologies, and government support for deployment of GPRs, among
others.
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Services to witness higher CAGR in ground penetrating radar market
during forecast period
The ground
penetrating radar market for services is expected to grow at a higher CAGR
during the forecast period. This growth is due to factors such as the rise in
the practice of procuring GPR systems on a rental basis owing to their high
cost of ownership, continuous innovation in GPR, and imposed regulations and
standards by the government for using a suitable detecting device before
commencing digging, demolishing, or constructing any infrastructure.
Cart-based GPR systems to account for largest size of ground
penetrating radar market during forecast period
Cart-Based
GPR systems are expected to account for the largest share of GPR market for the
forecast period. These systems enable the addition of more antennas and display
units. They can collect data in any environment for any application. The
cart-based GPR equipment provide reliable and high resolution data about depths
of subsurfaces.
Americas to account for largest size of ground penetrating radar market during forecast period
The Americas
is expected to hold the largest size of the ground
penetrating radar market during the forecast period. The aging civil
structures and deteriorating buildings because of harsh environmental
conditions, resulting in increased maintenance, repair, and overhaul cost,
would drive the demand for the market in the region.
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Key Market Players
IDS Georadar
(Italy), Sensors & Software Inc. (Canada), Guideline Geo (Sweden), Chemring
Group (UK), Geophysical Survey Systems, Inc. (US), Leica Geosystems AG
(Switzerland), Radiodetection (UK), Penetradar Corp. (UK), Utsi Electronics
Ltd. (UK), Hilti ( Liechtenstein), Pipehawk PLC (UK), and Geoscanners (UK) are
among a few major players in the ground penetrating radar market.
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