A $699.9 Million Global Opportunity for Ground Penetrating Radars by 2026 - New Research from StrategyR
SAN FRANCISCO, Jan. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Ground Penetrating Radars - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Global Ground Penetrating Radars Market to Reach US$699.9 Million by the Year 2026
Amid the COVID-19 crisis, the global market for Ground Penetrating Radars estimated at US$452.9 Million in the year 2020, is projected to reach a revised size of US$699.9 Million by 2026, growing at a CAGR of 7.7% over the analysis period. Equipment, one of the segments analyzed in the report, is projected to grow at a 7.4% CAGR to reach US$461.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 8.3% CAGR for the next 7-year period. This segment currently accounts for a 38.2% share of the global Ground Penetrating Radars market. Notable progress over the past two decades has enabled GPR equipment to evolve from an unreliable option to an accurate and highly dependable solution for concrete testing. Latest GPR equipment offers a sophisticated imaging option that relies on wideband sinusoidal electromagnetic waves for offering high-resolution images related to subsurface materials up to a depth of 10 meters.
The U.S. Market is Estimated at $171.9 Million in 2021, While China is Forecast to Reach $99 Million by 2026
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SOURCE Global Industry Analysts, Inc.
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