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Land Survey Equipment Market is Expected to Reach $8.7 Billion by 2027

 

Report Code : A07620

quote Growth of the land survey equipment market is majorly driven by urbanization in developing countries and time saving yet accurate output of data by advanced computers. On the basis of product, the GNSS systems segment dominated the land survey equipment market growth in 2019. Moreover, on the basis of industry, the construction segment dominated the market. In addition, on the basis of application, the monitoring & inspection segment dominated the market, and is expected to continue this trend during the forecast period. quote

Rohit Sawant
Industry Analyst, Construction & Manufacturing at Allied Market Research

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According to a recent report published by Allied Market Research, titled, “Land Survey Equipment Market by Product, Industry, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” 

The land survey equipment market was valued at $6,314.3 million in 2019, and is expected to reach $8,662.1 million by 2027, registering a CAGR of 6.1% from 2020 to 2027. In 2019, the construction segment dominated the land survey equipment market, followed by the oil & gas segment. The land survey equipment market includes revenue generated by products used for surveying land by different process in several industries such as construction, mining, defense, and other.

The land survey equipment market is mainly driven by rise in construction activities in developing countries. In addition, rise in application of remote operation of UAVs has led to rise in demand for drones. Moreover, advantages related to time saving and accuracy gained in data output also propel the market growth.

However, lack of skilled manpower operating the land survey equipment and analysis technology act as restraint to the land survey equipment market. Moreover, renting and leasing of these land survey equipment led to restricted sales of land surveying equipment. In addition, lockdown was announced, owing to the outbreak of COVID-19, which, in turn, led to a halt in construction activities as well as other surveying activities. In addition, the mining and oil & gas industries were also operating in limited capacity. This hampered the sales of the land survey equipment. However, the upgraded technology used for data collection and its management is expected to boost the land survey equipment market during the forecast period.

The land survey equipment market is segmented into product, industry, and application. On the basis of product, the market is divided into GNSS systems, total stations & theodolites, levels, 3D laser/laser scanners, unmanned aerial vehicles (UAVs), and others. Depending on industry, it is classified into construction, oil & gas, agriculture, mining, disaster management, and others. Based on application, it is segregated into inspection & monitoring, volumetric calculations, and layout points.

Key findings of the study 

  • By product, the GNSS systems segment was the highest revenue contributor in 2019.
  • By industry, the construction segment generated the highest revenue in 2019.
  • By application, the monitoring & inspection segment generated the highest revenue in 2019.

The major players profiled in the land survey equipment market include Hexagon, Hi-Target, Hudaco Industries Limited, Kolida Instrument Co., Ltd., Robert Bosch GmbH, Shanghai Huace Navigation Technology Ltd. (CHC Navigation), Stonex, Suzhou Foif Co., Ltd., Topcon Corporation, and Trimble Inc. 

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quote Land Survey Equipment Market by Product (GNSS Systems, Total Stations & Theodolites, Levels, 3D Laser/Laser Scanners, Unmanned Aerial Vehicles (UAVs), and Others), Industry (Construction, Oil & Gas, Agriculture, Mining, Disaster Management, and Others), and Application (Inspection & Monitoring, Volumetric Calculations, and Layout Points): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

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