Will Rising Government Investments in Construction Activities
Impact Land Survey Equipment Sales Across the U.S., Belgium, France, Italy, Japan,
Korea, the U.K., and 30+Countries? Find Out This with FMI's New
Report!
NEWARK,
Del, June 26, 2024 /PRNewswire/ -- According to
Future Market Insights (FMI), the worldwide land survey
equipment market is expected to reach USD 7487.6 million in 2024 and
USD 15868.4 million by
2034. The market is projected to rise at a CAGR of 7.8%
from 2024 to 2034.
Increasing population, urbanization, industrialization,
infrastructure development in developing nations, and ambitious
plans for smart cities are factors fueling growth. Technology
advancements like GNSS are essential for assessing locations and
tracking construction activities, spurring demand.
Land survey equipment is gaining traction in transportation
networks, renewable energy projects, and site suitability
assessment. This equipment aids in construction, grading, and site
design optimization, ensuring regulatory compliance and maximizing
energy production while minimizing environmental impact.
Legal requirements and the need for accurate data for
construction projects are set to drive the market. Consumer
awareness of safety norms and the benefits of inspection and
monitoring are further fueling demand for land survey
equipment.
Get The Sample Copy Of Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-6805
Land survey equipment refers to a variety of tools used for
inspection & monitoring, volumetric calculations, and layout
points across industries such as construction, oil & gas,
agriculture, and mining. These tools include GNSS, theodolite,
laser scanning, UAV, level equipment, total station, and data
collectors, among others.
Automation and robotics integration in land surveying offers
efficiency but comes with high costs and complexities. Initial
investment, maintenance, and specialized expertise are set to be
costly for smaller companies. Continuous upgrades are also required
for competitiveness. These challenges are particularly significant
for smaller players and occasional users in the market.
Governments are investing a lot for achieving new infrastructure
development initiatives and resuming older projects that had been
postponed due to the pandemic. The principles of mathematics,
geometry, and other sciences are used in association with land
survey technology to locate, measure, and survey both natural and
man-made terrestrial features. The elevation, angles, and property
boundaries can all be measured by a land surveyor using a variety
of equipment.
Key Takeaways from the Land Survey Equipment Market
Report:
- The land survey equipment industry is expected to reach a value
of USD 15868.4 million by 2034.
- The market is projected to surge at a CAGR of 7.8% by
2034.
- Japan's land survey equipment
market is expected to grow at a CAGR of 3.3% by
2034.
- The United States is projected
to surge at a CAGR of 4.4% by 2034.
- Based on the product, the GNSS system segment is expected to
hold a market share of 31.3% in 2024.
"The booming construction industry, government
initiatives, and real estate reforms worldwide are driving demand
for land survey equipment. Integration of technologies such as
GNSS, 3D scanning, and UAVs are projected to enhance accuracy and
efficiency in the construction industry, fueling sales of land
survey equipment." Opines Nikhil Kaitwade Associate Vice
President at Future Market Insights (FMI).
Which Factors Can Hinder the Land Survey Equipment
Market?
"Growth in Land Survey Equipment Rental Services Hindering
New Sales Potential"
Manufacturers of land survey equipment are focusing their
efforts on research and development (R&D) activities to offer
cutting-edge land survey equipment on the market. The land
surveying equipment rental business has expanded during the last
few years. Even if new development is advantageous in terms of use,
new sales of land survey equipment are being prohibited as a
consequence. Instead of buying new products, many consumers choose
rental services for infrequent use.
Additionally, small-scale businesses across the world provide
rental services, offering expensive but up-to-date products at
reasonable costs. This enables clients to use upgraded land survey
equipment without making a significant financial investment. This
situation has the potential to significantly slow the market for
land survey equipment.
"Intense Competition Negatively Affecting the Pricing
Mechanism Amongst Market Participants."
Growing demand for land survey equipment from end-use industries
has an impact on manufacturers. This contributed to the R&D
division of the land survey equipment industry placing a greater
emphasis on new, cutting-edge, and creative technologies. The oil
and gas industry, the construction industry (both government and
private), mining, agriculture, and other end-use sectors are some
examples of land survey equipment's end-use industries.
The competition among manufacturers of land survey equipment is
growing in almost every region of the world as a result of the
growing globalization of enterprises. Additionally, as global
brands enter the market, this competition is being further
intensified. To establish their supremacy in the market, every
manufacturer is engaged in competition with every other company. In
the market for land survey equipment, some startup companies are
also emphasizing sustainability.
This intensified competition has had a negative impact on
pricing strategies. This is a significant problem for global
manufacturers as they work to retain profit margins and grow sales
as a result of the tougher competition that is forcing them to
offer high-quality products at reduced rates.
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Competition Landscape:
Land survey equipment companies are leveraging strategies like
product launches, partnerships, collaborations, acquisitions, and
mergers to boost sales and gain a competitive edge in the global
market.
The market is highly consolidated, with a few large-scale
vendors dominating. Companies invest heavily in research and
development to create new products and digital services. Key
players in this sector include product expansion, mergers, and
collaborations.
For instance,
- In August 2023, Hexagon AB
introduced Leica BLK2FLY Indoor, a new indoor scanning system for
digital twin creation, offering exceptional autonomy and real-time
spherical imaging with a 1.5-meter operational range.
- In March 2023, Stonex
introduced the R180 Robotic Total Station, a fast, accurate Android
robotic station with 180°/sec rotation speed and 1 mm + 1 ppm EDM
accuracy, capable of ranging up to 1000m.
Leading Land Survey Equipment Brands
- Trimble Inc.
- Hexagon AB
- Topcon Corporation
- Autodesk, Inc.
- FARO Technologies, Inc.
- Nikon Corporation
- Geospatial Corporation
- CHC Navigation
- Spectra Precision (Trimble)
- South Surveying & Mapping Instrument Co., Ltd.
Get More Valuable Insights:
Future Market Insights (FMI), in its new offering, provides an
unbiased analysis of the global land survey equipment market,
presenting historical demand data (2019 to 2023) and forecast
statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the land survey
equipment market based on product (GNSS system, total stations, and
theodolites, levels, 3D laser, UAV, pipe lasers, and others),
industry (construction, oil and gas, agriculture, mining, disaster
management, and others), application (inspection and monitoring,
volumetric calculations, and layout points), and region.
Report Preview:
https://www.futuremarketinsights.com/reports/land-survey-equipment-market
About the Industrial Automation Division at Future Market
Insights (FMI)
The Industrial Automation division of FMI offers extensive
coverage and valuable insights about the automation industry,
including areas such as robotics, artificial intelligence, machine
learning, and process automation. Our market research findings and
competitive intelligence help various industry stakeholders,
including manufacturers, technology providers, distributors, and
service providers, make informed decisions and stay updated with
the latest market trends and developments.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
Have a Look at Related Research Reports on Industrial
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the
Stevie Award, and a member of the Greater
New York Chamber of Commerce) offers profound insights into
the driving factors that are boosting demand in the market. FMI
stands as the leading global provider of market intelligence,
advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer Technology, Healthcare, Industrial, and
Chemicals markets. With a vast team of over 400
analysts worldwide, FMI provides global, regional, and local
expertise on diverse domains and industry trends across more than
110 countries.
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