Press release
Demand for Land Survey Equipment in the U.S is Expanding due to Construction Sector Propelling - FMI
The trend is anticipated to continue during the forecast period. Growing usage across numerous industries, including construction, agriculture, and mining, is a major factor driving demand for land survey equipment.
According to the most recent analysis by FMI, the construction industry continues to have a high demand for land survey equipment. Due to the rising demand for new and improved infrastructure, the construction industry, as well as government and non-government projects, are in the spotlight. The demand for land surveying tools for use in businesses has increased as infrastructure and construction costs around the world have risen.
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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.
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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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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.
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