Overall sales of land survey equipment are expected to grow at a 7.2% CAGR between 2022 and 2032, reaching a market value of US$ 11,880.6 million. The global land survey equipment market will be worth US$ 5,945.3 million in 2022, according to Future Market Insights.
The current trend is expected to continue throughout the forecast period. Increased utilisation in a variety of industries, including construction, agriculture, and mining, is driving rising demand for land survey equipment.
According to the most current FMI report, land survey equipment remains in high demand in the construction industry. The construction industry, as well as government and non-government initiatives, are in the limelight due to increased demand for new and enhanced infrastructure. As infrastructure and building expenses have risen around the world, so has the demand for commercial land surveying instruments.
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Additionally, other end-use industries such as oil and gas, mining, agriculture, etc., are fueling the global land survey equipment market. The oil and gas industry is experiencing new developments and demand for fossil fuels; these developments necessitate the use of land survey equipment for exploration purposes. The mining and agriculture sectors demand land survey equipment to locate, measure, and survey both natural and man-made terrestrial features.
In 2020, the demand from end users for land survey equipment decreased slightly as a result of the global pandemic. However, after COVID, there has been an increase in industrial activity and infrastructural construction, which has boosted the market. This is due to the expansion of the industrial sector in developing countries all over the globe.
In the years to come, an increasing number of manufacturers will contribute to market expansion by focusing on research and development related to land survey equipment.
Key Takeaways from Land Survey Equipment Market Study
- By product type, hardware segment holds around 90% of the volume share of the global market in 2021.
- By end use, construction segment is set to hold around 3/4th of the market share on a value basis by the end of the forecast period.
- Based on application, volumetric calculation is the fastest-growing segment of the land survey equipment market, with a global CAGR of 7.5%.
- With booming construction and mining sectors, Europe will remain a leading market for land survey equipment during the forecast period.
- The U.S. holds around 81.6% share of North America land survey equipment.
- Demand for land survey equipment in China is expected to grow at a healthy pace through 2032.
“Land survey equipment demand is expected to rise at a robust pace during the upcoming period on the back of increasing investments in infrastructure development, especially in developing countries.” says a Future Market Insights analyst.
Who is Winning?
The land survey equipment market is moderately consolidated, with around 40–45% market share held by top players across the globe. To achieve more sales, top companies are creating contracts with end users and developing custom products according to the needs of the customers. Along with that, manufacturers have focused on enhancing their sales network to achieve a strong global presence.
Some of the key players in this industry include but are not limited to 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.
Find More Valuable Insights
The research report examines the demand for Land Survey Equipment. The impact of COVID-19, various macroeconomic factors, market trends, and market background have all been considered in the global land survey equipment market. As per Future Market Insights, the market has been analyzed based on product type, application, end-use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both supply-side and demand factors.
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Key Segments Covered in Land Survey Equipment Industry Analysis
By Product Type:
- Hardware
- Software
By Application:
- Inspection
- Monitoring
- Volumetric Calculation
- Layout Points
By End Use:
- Oil & Gas
- Construction
- By Government
- By Non-Government
- Mining
- Agriculture
- Others (Autonomous Vehicle and Marine time)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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