The size of the world market for land survey equipment was US$ 5,579.8 million in 2021, and in 2022, it is anticipated to grow to US$ 5,945.3 million. The overall demand for land survey equipment is also anticipated to increase at a 7.2% CAGR between 2022 and 2032, reaching a market valuation of US$ 11,880.6 Mn by that year due to rising applications across numerous industries.
In the context of various industries, including construction, oil & gas, agriculture, and mining, “land survey equipment” refers to a variety of tools used for inspection & monitoring, volumetric calculations, and layout points. These tools include, among others, GNSS, theodolites, laser scanners, unmanned aerial vehicles, levelling apparatus, total stations, and data collectors.
Land surveying has become simpler and faster thanks to equipment development and advancements. They give end users the chance to save money, drastically increase productivity, and require less labor. In addition, these tools aid in lowering the number of construction accidents that could lead to the destruction of property and the loss of lives.
The global land survey equipment market is largely driven by rising urbanisation and infrastructure development, and this trend is anticipated to last throughout the forecast period.
The developments in automotive and marine applications are also driving up demand for land survey equipment. The land survey equipment market is anticipated to benefit significantly from an increasing fleet of linked and autonomous vehicles, as well as the increased use of GNNS systems in small marine applications.
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The growing number of manufacturers working on research & development for Land Survey equipment is expected to contribute to market growth in the coming years.
Key Takeaways from Land Survey Equipment Market Study
- Because of its low cost and wide application, level equipment is expected to account for roughly half of the market in terms of volume over the projected period.
- The inspection segment is expected to account for more than 29 percent of the market in terms of application by 2031, owing to the increasing usage of inspection techniques in the construction sector.
- Europe will remain a primary market, with a share of more than 27 percent by the end of the projected period.
- Over the next decade, the markets in India and China are expected to grow at a CAGR of around 8.3 percent and 7.6 percent, respectively.
- With a valuation of around US$ 271.0 Mn in 2021, the Nordics are developing as an important market in Europe.
“The land survey equipment market is growing at a strong pace, driven largely by increasing demand for energy efficient and precise measuring equipment. Increasing upstream and downstream exploration in oil & gas and mining coupled with rising adoption of drone technology in surveying are propelling growth of the market,” says a FMI analyst.
Competitive Analysis:
The land survey equipment market is moderately consolidated, with the top players controlling more than 30% of the market. To preserve their market presence, these businesses are expected to invest in new technology innovations, distribution network growth, and partnerships with significant end-users.
Trimble Inc., Hexagon AB, Topcon, Beijing UniStrong Science & Technology Co., South Surveying & Mapping Instrument Co., Ltd., and Hi-Target Surveying Instrument Co., Ltd. are among the leading players in this business.
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Land Survey Equipment Market by Category
By Product Type:
- GNSS
- Theodolite
- Level Equipment
- Total Station
- Laser Scanning
- UAV
- GIS Asset Collection
- Data Collectors
By Application:
- Inspection
- Monitoring
- Volumetric Calculation
- Layout Points
By End Use:
- Oil & Gas
- Construction
- By Government
- By Non-Government
- Mining
- Agriculture
- Others
Competitive Landscape
Leading market players operating in the global land survey equipment market include M&P Survey Equipment Ltd., Shanghai Huace Navigation Technology Ltd., South Surveying & Mapping Instrument Co., Ltd., u-Blox Holding AG, Trimble, Hexagon AB, Beijing UniStrong Science & Technology Co., Ltd., Hi-Target Surveying Instrument Co., Ltd., Suzhou FOIF Co., Ltd., Guangdong Kolida Instrument Co., Ltd., Pentax Precision, Nedo, Satlab Geosolutions AB., Tianjin Xing Ou Surveying Instrument Manufacture, Theis Feinwerktechnik, and Emlid Ltd .
These players are continuously adopting various organic and inorganic strategies such as new product launches, facility expansions, mergers, collaborations, partnerships, and acquisitions to increase their revenue share and gain a competitive edge in the market.
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The post Sales Of Land Survey Equipment Are Anticipated To Rise At A CAGR Of About 7.2% In Terms Of Value During The Forecast Period appeared first on Future Market Insights.