Land Survey Equipment Marke Growth, Analysis, Latest Trends and Forecast till 2026

The report on the land survey equipment market provides a detailed trend analysis from 2018 to 2026. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.

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The land survey equipment market is estimated to be USD 7.7 billion in 2021 and is projected to reach USD 9.9 billion by 2026, at a CAGR of 5.3% from 2021 to 2026. The market is driven by various factors, such as development of advanced UAV based land survey equipment, increasing use of land survey equipment in mining & construction industry, and technological advancements in land survey equipment.

Based on industry, The land survey equipment market will majorly be driven by the growing demand for land survey equipment in mining & construction industry in the forecasted year. Mining & construction industry includes all the military & non-military building operations and all the machine control equipment used in mining industry.

Based on Application, the market for land survey equipment used for layout points is projected to grow at the highest CAGR during the forecast period. Layout points application of land survey equipment is used across several industries like construction, mining, forestry, precision farming, energy & power, Transportation, etc. The layout points application is used in construction industry for inspection of land and planning and implementing the structures.

Based on End User, the commercial survey equipment is projected to grow at the highest CAGR rate for the land survey equipment market during the forecast period. Commercial land survey equipment are used in several industries such as mining, construction, forestry, scientific & geological research, transportation, energy & power and precision farming.

Asia Pacific is projected to be the largest regional share of the global land survey equipment market during the forecast period. Asia Pacific is estimated to account for a share of 37.7 % of the land survey equipment market in 2021. The market in this region has been studied for Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific, which include Indonesia, Singapore, Taiwan, and Thailand. The Asia Pacific market is projected to grow from USD 3055.6 million in 2021 to USD 4191.3 million by 2026, at the highest CAGR of 6.5% during the forecast period. China, India, and South Korea are major players in the global construction industry. Due to a fall in construction projects from 2020 because of covid, the demand for land survey equipment from this industry has also decreased. However, the market is expected to rise after 2021 due to the rise in new construction projects and resuming of the old projects. This is expected to increase the demand for land survey equipment.

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Management and the development of new renewable energy projects and oil & gas projects are fueling the demand for land survey equipment used in energy & power industry. Investments in renewable energy, oil and gas, and utility service activities have also contributed to the growth of the land survey equipment market. The land survey equipment used in the above applications (oil & gas activities, renewable energy, and utility services) include Total stations, levels, laser, GNSS systems, and Theodolites.

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This release was published on openPR.