Land Survey Equipment Market Overview:
Land surveying is the process of adopting both onsite and offsite techniques to map and measure a predetermined area. Boundary survey, aerial survey, location survey, construction survey, topographic survey, and hydro graphic survey and so on are some of the surveying types in construction and mining fields. The use of surveying techniques to collect data for mapping has created the chance to increase the variety and mass of achievable information. Geometric modelling and surveying are now accessible through the availability of real-time monitoring systems based on digital photographic techniques, GPS, robotic total stations, satellite, high resolution satellite imagery, and terrestrial laser scanners devices. Therefore, land survey equipment plays a critical role in extracting related surveying information.
Land Survey Equipment Market Size:
The land survey equipment market is projected to grow from USD 6.01 Billion in 2017 to USD 8.70 Billion by 2022, at a CAGR of 7.67% during the forecast period.
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Land Survey Equipment Market Growth Factors, Drivers and Restraints:
One of the factors contributing to the growth of this segment is technological advancements in land survey equipment to meet the demand for improved survey equipment from land surveyors for various purposes such as construction, agriculture, mining, and monitoring. The main restricting factor is the lack of skilled workforce and technical knowledge about the use of latest instruments, challenging the growth of the land survey equipment market. The rental and leasing service providers for equipment also hampering the market boom.
Land Survey Equipment Market Geographical Overview:
Growing economies like Asia Pacific and MEA are witnessing urbanization on huge scale which will consequently result in acceleration in the demand of transportation, residential area, construction and energy resources. Mining and oil & gas industry is continuously growing to full fill the demand of end-use industries. Furthermore, increasing demand for energy by various industries to full fill the need for nuclear fuel, coal and petroleum is also fuelling the growth of mining industries in developed economies like North America & Europe.
The growth of the market can be attributed to rapid urbanization, development of smart cities, and increasing construction activities in North America, Asia Pacific, and Africa regions. The land survey equipment market in the Asia Pacific region is anticipated to grow at the highest CAGR from 2017 to 2022. Rapid urbanization in mainland China and the growth in China’s real estate and construction market are driving the market in the region.
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Key Players of Land Survey Equipment Market:
The land survey equipment market includes some of the key manufacturers like Trimble, Hexagon, Topcon, Meggitt PLC, Hi-Target, CHC-Navigation, Suzhou FOIF, Stonex, etc.
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