Echo Sounders Market Assessment and Key Insights Analysed from 2022 to 2032
The echo sounders market is expected to be worth US$ 298 million by the end of 2022. During the forecast period of 2022 to 2032, the market is expected to grow at a CAGR of 3.3%, with a closing value of US$ 412 million. Historically, the market grew at a CAGR of 2.9% between 2016 and 2021.
Single beam echo sounders have a wide range of capabilities, including frequency agility to support existing transducer installations, compatibility with traditional thermal record printing, and modern PC screen-based interfaces. However, as multi-beam echo sounders have evolved, their capabilities have expanded with features such as pulse length, number of beams and coverage, and operating frequency, allowing them to be used in new areas.
Echo sounders are a type of Sound Navigation and Ranging (SONAR) device that records the time intervals between emission and pulse return to determine the depth of the water as well as the sound speed. Following the Titanic disaster in 1912, German physicist Alexander Behm developed the technique of echo sounding to detect icebergs and measure sea depth.
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Furthermore, a dual-beam technique in the 1970s, permitting direct fish size in-situ through target strength estimation was invented, followed by the development of the first portable split-beam hydro acoustic system for better accuracy and less variable estimation. The global echo sounders market is estimated to grow at a significant CAGR during the forecast period owing to low power consumption, inexpensive tools, and innovations in product development.
Echo Sounders Market: Dynamics Drivers:
Single beam echo sounders provide an inexpensive seabed mapping tool when attached to a recording device and GPS which is expected to enhance the growth of global echo sounders market during the forecast period. Furthermore, technological advancements in multi-beam echo sounders are potentially making them a cost-effective system. Moreover, the requirement for compact systems with low power consumption in autonomous or remotely operated vehicles are expected to augment the echo sounders market over the forecast period.
Echo Sounders Market Restraints:
The speed of sound is directly proportional to density of the water that can be affected by various factors such as turbidity, temperature of water sample, pressure and salinity, and consequently expected to hamper the growth of the global echo sounders market during the forecast period.
Echo Sounders Market Trends:
With the development of the multi-beam echo sounders systems for offering narrow bandwidths, there is further demand for complementary increase in the number of beams provided to retain full ensonification of the seabed. Furthermore, to provide better control over the application and distribution of soundings, progress in the provision of greater number of soundings has been allied for advancement in beam-forming technology.
Echo Sounders Market: Region-wise Outlook
North America is expected to dominate the global echo sounders market during the forecast period owing to stringent marine regulations and awareness among consumers for better operations. Furthermore, Europe is estimated to witness significant growth rate during the forecast period owing to growing military & defense applications in France, the U.K. and other parts, with growing adoption of advance technologies for better and accurate results.
Moreover, Asia Pacific is expected to register substantial growth over the forecast period majorly due to countries such as China, India and ASEAN, which deals with import and export through shipments as their way of business. The Latin America and Middle East & Africa markets are estimated to enhance the growth of the global echo sounders market due to adoption of single as well as multi-beam echo sounders for better safety and results.
Echo Sounders Market: Participants
Examples of some of the market participants in the global echo sounders market are:
Kongsberg Maritime As Navico, Knudsen Engineering Ltd. Teledyne Odom Hydrographic, Inc., CEE Hydrosystems, Furuno Electric Co., Ltd., Kaizen Imperial, Fugro, Sonar Products Limited Neptune Sonar Ltd
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments Covered in the Echo Sounders Industry Analysis
Echo Sounders Market by Product Type:
Single beam Echo Sounder Multi-beam Echo Sounder
Echo Sounders Market by Application:
Echo Sounders for Fishing Echo Sounders for Marine Survey Echo Sounders for Other Applications
Echo Sounders Market by Usage:
Fixed Echo Sounders Portable Echo Sounders
Echo Sounders Market by Frequency Range:
Below 30 kHz Echo Sounders 30 to 100 kHz Echo Sounders Above 100 kHz Echo Sounders
Echo Sounders Market by Region:
North America Echo Sounders Market Latin America Echo Sounders Market Europe Echo Sounders Market Asia Pacific Echo Sounders Market The Middle East & Africa Echo Sounders Market
Report Highlights:
Detailed overview of parent market Changing market dynamics in the industry In-depth market segmentation Historical, current and projected market size in terms of volume and value Recent industry trends and developments Competitive landscape Strategies of key players and products offered Potential and niche segments, geographical regions exhibiting promising growth A neutral perspective on market performance Must-have information for market players to sustain and enhance their market footprint.