Ground Penetrating Radar Market Overview:
The Ground Penetrating Radar market report offers a thorough analysis of the opposition, together with information on market share and company profiles for the leading foreign rivals. The scope of the study includes a full examination of the Ground Penetrating Radar Market as well as the factors influencing regional variations in the growth of the sector.
Ground Penetrating Radar Market is expected to reach US$ 844.71 Mn. by 2029, at a CAGR of 8.24% during the forecast period. The report has covered region wise market trends with competitive landscape.
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Market Scope:
After market engineering, which involved market statistics calculations, market size predictions, market projections, market breakdown, and data triangulation, was complete, extensive primary research was carried out to collect data and check and validate important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the overall market segments and sub-segments outlined in this research. In order to provide vital information throughout the study, all data collected during the market engineering process is submitted to extensive qualitative and quantitative analysis.
Drivers:
The global market for ground penetrating radar was valued at USD 448.34 million in 2021 and is projected to grow at an average annual rate of 8.24% to reach USD 844.71 million by 2029. The primary factor influencing the market's growth is an increase in the use of ground-penetrating radar for locating underground utilities, plastic ducts, or concrete storm and sanitary sewers, as well as variations in the subsurface's dielectric properties. Additionally, it is used in military applications for the detection of unexploded artillery and tunnels, which would support the global market for ground-penetrating radar. High development costs and the high level of skill needed for ground penetrating radar analyses are two obstacles to growth, though. Due to the growing demand for autonomous vehicles and rising military spending in developing countries, the market has enormous potential.
Segmentation:
With a share of 56.12%, the cart-based Product type segment dominated the ground penetrating radar market during the forecasted period. Due to its expanding use in geophysical surveys, underground infrastructure mapping, unexploded ordnance (UXO), and mine detection, cart-based GPR is leading the overall GPR market. The construction industry's use of hand-held GPR for tracing rebar, conduits, post-tension cables & voids, and controlling concrete slab thickness in real-time will grow the hand-held market.
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Key Players:
To identify the market's leaders and predict market revenue, both primary and secondary research are performed. CEOs, marketing executives, and seasoned front-line employees are just a few of the influential thought leaders and subject matter experts who are included in the main study's in-depth interviews. As part of the primary research, extensive interviews with important thought leaders and business professionals, such as CEOs, marketing executives, and seasoned front-line staff, were conducted. As part of the secondary research, a review of the annual and financial reports of the major manufacturers was also done. Secondary data is employed to calculate percentage splits, market shares, growth rates, and market breakdowns. The results of these calculations are then compared to primary data. The Ground Penetrating Radar market is dominated by the following businesses:
• IDS Georadar
• Guideline GEO
• Sensors & Software Inc.
• Chemring Group
• Geophysical Survey Systems, Inc. (GSSI)
• Leica Geosystems AG
• US Radar
• Radiodetection
• Penetradar Corp.
• Utsi Electronics Ltd.
• Geoscanners
• Groundradar
• Pipehawk PLC
• Proceq
• Impulseradar
• Transient Technologies
• Hilti
• 3D Radar
• T&A Survey
• Maverick Inspection
Regional Analysis:
The regional overview of market research for Ground Penetrating Radar also discusses key market-influencing elements and legal developments that have an impact on current and future market trends. Current and upcoming trends are investigated in order to evaluate the whole market potential and find lucrative patterns in order to establish a better footing. The basis for evaluating the regional market is the current environment and expected trends.
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COVID-19 Impact Analysis on Ground Penetrating Radar Market:
Owing to a halt in operations, the growth of end-user industries using Ground Penetrating Radar decreased from January 2020 to May 2020. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. As a result, the market for Ground Penetrating Radar manufacturers as well as the profits of companies operating in these industries both experienced a sharp decline. This had an impact on the market's expansion in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business need for Ground Penetrating Radar has been severely decreased.
Key Questions Answered in the Ground Penetrating Radar Market Report are:
- Which market segment accounted for the most percentage of Ground Penetrating Radar in 2021?
- How competitive is the market environment?
- What are the primary factors influencing the Ground Penetrating Radar market's growth?
- Which region dominates the Ground Penetrating Radar market in terms of market share?
- What is the expected market CAGR from 2022 to 2029?
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