According to a new report published by Allied Market Research, titled, “Land Survey Equipment Market,” The land survey equipment market size was valued at $7.3 billion in 2020, and is estimated to reach $13.4 billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030.
The major players include in this report:
- 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,
- Trimble Inc.
In 2020, the construction segment dominated the 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 others.
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The land survey equipment market growth 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 land survey equipment and analysis technology acts as a restraint for 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, mining and oil & gas industries were also operating in limited capacity. This hampered 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 industry during the forecast period.
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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. By 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 2020.
- By industry, the construction segment generated the highest revenue in 2020.
- By application, the monitoring & inspection segment generated the highest revenue in 2020.
- By region, the Asia-Pacific region had the highest land survey equipment market share in 2020.
- The report includes land survey equipment market forecast from 2021-2030.
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