Ground Penetrating Radar Market to be Driven by the Heightened Deployment of GPR Services in the Oil and Gas Industry
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The new report by Expert Market Research titled, ‘Global Ground Penetrating Radar Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global ground penetrating radar market, assessing the market based on its segments like offerings, product types, applications, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 531.5 Million
- Forecast CAGR (2022-2027): 8%
The ground penetrating radar market is being driven by the growing demand for ground penetrating radar services across industry verticals, such as the construction and mining industry. In the oil and gas industry, the ground penetrating radar systems helps in the precise monitoring of the underground oil wells, which helps save time and mining costs. The increased demand for GPR services, particularly on a rental basis, can be related to the rising cost of GPR equipment. The availability of new GPR equipment with enhanced features is driving up demand, which is projected to boost market growth in the future years. The increased demand for detection, such as utility detection, is expected to boost market expansion. In addition, growing demand for ground penetrating radar systems in the construction industry to ascertain the base soil is also predicted to aid the market.
Industry Definition and Major Segments
Ground penetrating radar is a device that helps in the monitoring and surveying of a surface, subsurface or geospatial surfaces to investigate its properties. This instrument utilises electromagnetic radiations to detect the contrasts under the surface. In addition, it is a non-intrusive process that requires no destruction of the surface.
The ground penetrating radar market, on the basis of offering, can be segmented into:
- Equipment
- Services
Based on product type, the industry can be segregated into:
- Handheld Systems
- Cart-Based Systems
- Vehicle-Mounted Systems
On the basis of application, the market can be distributed into:
- Utility Detection
- Concrete Investigation
- Forensics and Archaeology
- Transportation Infrastructure
- Geotechnical and Environment
- Others
The regional markets for ground penetrating radar include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The global ground penetrating radar industry is being driven by the increased demand for radar sensing in the forensics and archaeology sector across the globe. This can be attributed to the non-intrusive benefits offered by the radar systems, which enable accurate location of an artefact, while also requiring the potential for careful excavation without disturbing the rest of the surface. The rising population density and the heightened demand for commercial and industrial infrastructure development is further propelling the market growth. In addition, the factors such as enhanced imaging, precise detection through varied surfaces, and ability to detect metals, nonmetals, and other irregularities in the surface, among others are predicted to augment the market growth. These factors are anticipated to provide aid the market growth in the coming years.
Key Market Players
The major players in the market are IDS GeoRadar s.r.l., Sensors & Software Inc. Guideline Geo, Chemring Group PLC, GSSI Geophysical Survey Systems, Inc., Geoscanners AB, Leica Geosystems AG, US Radar Inc., and Radiodetection Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
