Land Survey Equipment Market Projected to reach $9.9 billion by 2026

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 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. Growth of this market can be attributed to the rise in trade of survey equipment, developments in the renewable energy sector, and transportation sector.

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Major players in the land survey equipment market include Hexagon AB (Sweden), Trimble Inc. (US), Topcon (Japan), CHC-Navigation (China), Hi-Target (China), U-Blox Holdings AG (Switzerland), and Hudaco Industries (South Africa). Other key players in the market are Robert Bosch GmBH (Germany), GeoTech (Russia), and Guangdong Kolida Instruments (China). The report covers various industry trends and new technological innovations in the land survey equipment market for the period, 2018-2026.

UAVS and DRONES FOR LAND SURVEYS

UAVs are used extensively for surveys and offer significant flexibility in gathering object images and low cost. With the help of advanced airborne systems, it is possible to accurately map and model remote geographic areas. Moreover, small and lightweight systems enable the use of smaller aircraft that are cost-efficient. UAVs are being used in places where physical access is difficult and are beneficial as these can scan wide stretches of terrain quickly and fly at high speeds while still being able to maneuver easily and get accurate scans. Drones have the added benefit of being versatile and can be equipped with conventional survey equipment, such as high-resolution cameras or remote sensing technologies, such as LiDAR, to collect information about the terrain below.

Leading UAV manufacturers are collaborating with land survey equipment manufacturers to provide UAVs with improved capabilities to carry out surveys. According to Investor's Business Daily, in 2017, the Federal Aviation Authority (FAA) permitted four companies, namely, Trimble Navigation, VDOS Global, Clayco, and Woolpert, to perform aerial surveys, construction site monitoring, and oil rig flare stack inspection. UAVs can also be used to survey volcanoes to enhance disaster response.

Hardware section of solution segment of Land survey equipment market is projected to witness a higher CAGR during the forecast period

Hardware of land survey equipment includes instruments like GNSS systems, total stations, theodolites, levels, laser, 3D laser scanners, UAVs, and machine control systems. The market for hardware is expected to grow from USD 4664.2 million in 2021 to USD 6055.3 million in 2026, at the highest CAGR of 5.36%.

Mining and construction industry segment is estimated to be the largest share in Land survey equipment market

Land survey equipment have significant use in the mining and construction industry to measure, map, and monitor mines and construction sites. The growth of the construction industry is one of the major factors driving the land survey equipment market, which is attributed to rapid urbanization in emerging economies of Asia and Africa. According to the Global Construction Outlook 2021, the global construction industry is expected to grow at an average of 2.8% during the next five years. Construction contracts are also increasing with rising in construction activities worldwide. Mining includes mineral exploration, mine planning, manufacturing plant establishment, and infrastructural development. These activities are carried out with the aid of land survey equipment, such as total stations, GNSS receivers, levels, and UAVs, which provide solutions to analyze exploration data sets such as geologic maps, radiometric surveys, and mineral deposits. For instance, total stations are extensively used in geodetic and engineering survey measurements.

The mining and construction segment is projected to grow from an estimated USD 2746.8 million in 2021 to USD 3566.1 million by 2026, at a CAGR of 5.36%.

Layout Points Application segment is estimated to account for the largest share of the land survey equipment market during the forecast period
Layout points refers to construction plans interpreted by marking the coordinates of new structures. This ensures that ongoing projects are being developed as per planned designs. These points also help in proposed improvements in existing projects, along with ensuring prompt completion. This segment is projected to reach USD 2,938.7 million by 2026, at a CAGR of 5.15%. In the past few decades, research has been focused on the use of IT to plan layouts; for instance, 4D simulations, AI, virtual reality, and BIM, which can help optimize the layout plan during various phases of construction.

Commercial segment projected to lead the land survey equipment market during the forecast period

In the commercial segment, land survey equipment is used in the construction, agricultural, mining, oil and gas industries, as well as in forestry, telecommunications, electricity, and water utilities. Land survey equipment manufacturers are constantly upgrading their equipment to produce more technically advanced equipment to meet the demand from land surveyors and land survey service providers for better and enhanced land survey equipment. Due to various technological advancements, such as GNSS technology for survey purposes, the adoption of land survey equipment for commercial purposes is expected to increase, leading to high demand. Furthermore, increasing construction activities in Asia Pacific, Africa, and North America, increasing mining activities globally, and focused efforts on better precision farming are other factors contributing to the growth of the commercial segment. The commercial segment is projected to grow from an estimated USD 4,226.7 million in 2021 to USD 5,487.3 million by 2026.

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Asia pacific region accounts for largest market share in Land survey equipment market

Asia Pacific is the largest market for land survey equipment in terms of demand as well as presence of key land survey equipment manufacturers. The region accounted for a total share of 37.65% of the global Land survey equipment market in 2020. Asia Pacific has many developing countries that invest a good amount of money in building infrastructure. The region also has several countries like India, Indonesia, etc., which have agriculture as their main source of income. Also, the mining business in Asia Pacific countries like China, Australia, etc., is fairly large. This results in a high requirement of land survey equipment in the Asia Pacific. Asia pacific market of Land Survey Equipment is expected to grow from USD 3.1 billion in 2021 to USD 4.2 Billion by 2026 at the highest CAGR of 6.5% during the forecast period.

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This release was published on openPR.