Ground Penetrating Radar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted May 9, 2021 by Statzyreports

The ground penetrating radar market is expected to register a CAGR of 7.5% over the forecast period 2021 - 2026.
 
The ground penetrating radar market is expected to register a CAGR of 7.5% over the forecast period 2021 - 2026. It is a non-destructive method that uses radar pulses for shallow subsurface investigation and exploration and has broad applications in various industries. Ground penetrating radar is used to detect underground assets in mining, water and sewage, oil & gas, and construction industries. These are also used to evaluate the amount of deterioration of bridge decks, parking decks, and other structures.

- Major cities of Asia pacific regions are experiencing the growth of subways construction to combat the problems of pollution, travel time and rising prices of fuel by providing affordable and safe means of transportation.
- For instance, in 2019, China invested more than USD 125 billion for the construction of high-speed rail network. China Railway Corporation is set to open 6,800 km of new lines, including 4,100 km of high-speed infrastructure, which is 45% more than the total mileage commissioned in 2018. By the end of 2018, it was operating 29,000 km of high-speed lines, two-thirds of the world and had added more than 4000 route-km in 2018. It has reduced the travel time between major Chinese cities, and authorities are looking to extend new lines into some of the remote corners of the country.
- Over the decade, demand for non-renewable resources is increasing and pushing companies to develop more sophisticated equipment to detect and identify the new oil reserves. This has increased the use of modern instruments and tools based on GPR technology that gather, analyze, and process huge amounts of data, which allows technicians and specialists to make fast and valuable decisions. These are also used to detect underground pipeline leaks and prevent any explosion.
- However, higher cost of GPR equipments and its maintenance has been restricting the market and preventing its penetration in various industry.

Key Market Trends

Oil and Gas Industry to Witness Significant Growth

- GPR tools and equipments are used to reduce the level of danger by providing extremely accurate and reliable information. The engineers rely upon GPR equipment for the examination of geological bodies dangerous for drilling operations (carven-load, bedded ices), detection of underground pipeline leakage, the precise location of coal, natural gas and oil deposits.
- As per the IOGP’s global production report 2019, demand for oil and gas is at the peak, greater than ever before, with dramatic growth in Africa, Asia Pacific, the Middle East and the Americas. This has fueled the investment in the exploration and production of oil to meet the growing demand.
- Many mid-sized players are forming strategic alliances for the development of unconventional resources. For instance, in 2019, Ecopetrol and Occidental Petroleum Corp agreed to form a joint venture for the development of unconventional reservoirs in approximately 97,000 acres of the Permian Basin in the State of Texas which is one of the largest and most active oil basins in the United States, accounting for approximately 30% of the total U.S. oil production. Thus, strengthening the demand of GPR equipment in oil and gas industry.

North America to Record a Significant Growth

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- North America ground penetrating radar market is expected to hold a significant share due to the favorable development in military, utility detection, transport infrastructure.
- US military is constantly upgrading equipments with advanced technology every year to bring about ground-breaking change. The U.S Army is planning to install ground-penetrating radar on drone that will be capable of surveying previously inaccessible locations. They are attempting to embed this technology onto a chip so that it can display a digital map of the surroundings.
- The players operating in the region are focusing on new product developments to increase their production capabilities. For instance, in October 2019, GSSI, United States based ground penetrating radar (GPR) equipment manufacturer has introduced the new 200 MHz (200 HS) antenna, the first of the next-generation, high-performance GS Series that is designed for applications that require deeper depth penetration. It is ideal for geophysical, geotechnical, or environmental applications that require high reliability under challenging survey conditions.

Competitive Landscape

The major players in the market are Sensors & Software Inc., IDS GeoRadarhave, Guideline Geo, Leica Geosystems AG, Penetradar Corp., Utsi Electronics Ltd, and others. The market is dominated by these players, hence the market is consolidated. Therefore, market concentration is high.

- March 2020 - Worldsensing and IDS GeoRadar have cooperated and launched the most comprehensive mine safety monitoring system. This integrated system, the first in the world, offers surface, sub-surface and geospatial monitoring in a single package. The joint solution will simplify data management using HxGN GeoMonitoring Hub integrated visualization and analysis platform, delivered through IDS GeoRadar.

- October 2019 - Guideline Geo has launched the MALÅ AI, the world’s first real AI technology for the interpretation of GPR data. The real-time AI will enable automatic detection, warnings, avoidance. For instance, in utility locating MALÅ AI will instantly analyze the GPR data and will mark the detected objects with a red square to warn the user and help to avoid damaging important infrastructure such as fibre, power cables or gas lines.
- February 2019 - SPX Corporation has completed the acquisition of the Sabik Marine and obstruction lighting business of Carmanah Technologies Corporation. The company will leverage Sabik’s highly-engineered technology and products to expands and strengthens its position.

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Tags covid19 impact , ground penetrating radar market , ground penetrating radar market forecast , ground penetrating radar market share , ground penetrating radar market size
Last Updated May 9, 2021