The Asia Pacific Ground Penetrating Radar Market would witness market growth of 8.6% CAGR during the forecast period (2022-2028).
The benefits of GPR systems across other conventional technologies like radiography, as well as a growth in issues about the safety and preservation of subsurface utilities, are expected to propel the GPR market forward. Additionally, the market is observing an increase in demand for GPR in a variety of applications such as transportation infrastructure, concrete investigation, municipal inspection, municipal inspection, disaster inspection, geology & environment, and archaeology.
It is a non-destructive approach for shallow subsurface study and exploration that utilize radar pulses and has numerous applications in diverse industries. In the water, mining, sewage, oil and gas, and construction industries, ground-penetrating radar is utilized to detect underground assets. Parking decks, bridge decks, and other constructions are also assessed using these. Subways are being built in major cities to battle pollution, travel time, and growing fuel prices by providing an economical and safe mode of transit.
For example, China invested about USD 125 billion in the development of a high-speed rail network in 2019. China Railway Corporation plans to open 6,800 kilometers of new lines, comprising 4,100 kilometers of high-speed infrastructure, a 45 percent increase over the total mileage launched in 2018. By the end of 2018, it had extended over 4000 route kilometers to its 29,000 km of high-speed lines, covering two-thirds of the world. It has cut travel time between major Chinese cities in half, and authorities are considering extending additional lines to some of the country's most isolated locations.
As per the International Energy Administration, China recorded record oil and gas imports in 2018, and it maintains the world's top crude oil importer after overtaking the United States in 2017. China is also the world's second-largest natural gas importer, following Japan. China was the world's fifth-largest oil producer in the same year, but it intends to remove up the environment and lessen its dependency on coal. All of the factors, as well as maintaining energy security by growing oil and gas reserves, are driving import growth. As per Reuters, China's central government wants to improve domestic energy security by increasing local exploration and lowering imports. Additionally, the absence of infrastructure has slowed the transition from coal to natural gas. This is why the 13th Five Year Plan's aims for oil and gas self-sufficiency and infrastructure expansion are so prominent. Reforms in this area in recent years and in the foreseeable future may provide new chances for domestic and foreign businesses.
The China market dominated the Asia Pacific Ground Penetrating Radar Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $79.4 Million by 2028. The Japan market is poised to grow at a CAGR of 8% during (2022 - 2028). Additionally, The India market would display a CAGR of 9.3% during (2022 - 2028).
Based on Component, the market is segmented into Antenna, Control Unit, Power Supply, and Others. Based on Offering, the market is segmented into Equipment and Services. Based on Type, the market is segmented into Handheld Systems, Cart Based Systems, and Vehicle Mounted Systems. Based on Application, the market is segmented into Transportation Infrastructure, Utility Detection, Archaeology, Concrete Investigation, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Ground Penetrating Radar Market is Projected to reach USD 936.8 Million by 2028, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IDS GeoRadar s.r.l.(Hexagon AB), Radiodetection Ltd. (SPX Corporation), Chemring Group PLC, Hilti AG, PipeHawk plc (Utsi Electronics Ltd), Guideline Geo AB, Geophysical Survey Systems, Inc., Penetradar Corporation, and Geoscanners AB.
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