USD 12.56Bn Land Survey Equipment Market Size to Grow at 7.7% CAGR During (2022-2028) - COVID-19 Impact and Global Analysis by The Insight Partners

New York, Sept. 19, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Land Survey Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Solution (Hardware, Software, and Services), Industry (Mining, Construction, Agriculture, Oil & Gas, and Others), Application (Volumetric Calculations, Inspection, Layout Points, Monitoring, and Others), and Hardware (GNSS Systems, levels, 3D Laser Scanners, Total Stations, Theodolites, Unmanned Aerial Vehicles, Machine Control Systems, Machine Guidance Systems, and Others)". The global land survey equipment market growth is driven by rising developments in real estate and increasing growth of industrial ad agriculture sectors.

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Land Survey Equipment Market Report Scope, Segmentations, Regional & Country Scope:

Market Size Value inUSD 8 Billion in 2022
Market Size Value byUSD 12,56 Billion by 2028
Growth rateCAGR of 7.7% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages269
No. of Tables158
No. of Charts & Figures126
Historical data availableYes
Segments coveredSolution, Industry, Application, and Hardware
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends

Land Survey Equipment Market: Competitive Landscape and Key Developments

Hexagon AB; GUANGDONG KOLIDA INSTRUMENT CO., LTD.; Shanghai Huace Navigation Technology Ltd.; South Surveying & Mapping Technology CO., LTD.; Topcon Corporation; Trimble Inc.; Hi-Target; PENTAX Surveying; Suzhou FOIF Co., Ltd.; and Robert Bosch Tool Corporation are a few of the key land survey equipment market players. Several other major land survey equipment market players were also analyzed for a holistic view of the land survey equipment market report.

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In 2021, Topcon Corporation announced that they had entered into a contract with DDK Positioning Ltd. to supply Global Navigation Satellite System and hardware components. DDK Positioning will use Topcon's positioning system to deliver its MAX services to Oceaneering International, Inc.'s clients.

In 2021, Shanghai Huace Navigation Technology Ltd. released LandStar 7.3.6 land survey app. It is a field data collection software that is designed for high-precision surveying, engineering, mapping, road stakeout, and pipeline surveying. The new version of the software has improved productivity and is more efficient.

Land Survey Equipment Market Analysis: Impact of COVID-19 Pandemic

Various economies in Asia Pacific witnessed a sharp decline in their gross domestic product (GDP) in 2020 due to the sudden discontinuation in many economic activities across the region. According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic severely affected countries such as India, Australia, China, and Japan. Limitations imposed by governments of various APAC countries to control the spread of SARS-CoV-2 during the initial time stages of the crisis affected the production process in these countries due to the limited workforce availability, which hampered the land survey equipment market growth in 2020.

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All construction activities in these countries were suspended due to the lockdown. For instance, in India, the nationwide lockdown, which was announced in March 2020, temporarily discontinued the construction activities of several residential and commercial projects. The real estate industry was reeling under the pressure to deliver the housing projects that had been delayed for years. Due to the loss of jobs amid the COVID-19 pandemic, more than 30% of the construction workers left for their native places during the lockdown. As a result, the construction activities in major cities such as Bangalore, Delhi, Mumbai, and Pune, were significantly affected. However, in Q4 2020, the land survey equipment market reopened partially, which slowly resumed the construction work.

As economies reopened and industries began their operations in 2021, the need for land survey equipment from various end users grew gradually. Also, with large-scale vaccination efforts and ease in social restrictions, companies resumed work with high workforce capacities.

The demand for products such as apparel, electronics, and other consumer durables is increasing, owing to the rising population and high disposable income. For instance, according to the Ministry of Statistics and Programme Implementation (MOSPI), as of May 2022, India's industrial production jumped 19.6% Y-o-Y, which was the industrial sector's largest growth since 2021, due to increasing output for all sectors, such as manufacturing (20.6%), electricity (23.5%), and mining (10.9%). Further, the agriculture sector is witnessing tremendous growth in several countries such as India, China, the US, and Peru. Peru's agricultural exports increased from US$ 645 million in 2000 to US$ 7.8 billion in 2020. The country quadrupled its agricultural land to ~200,000 hectares due to increased agricultural exports. Moreover, in China, the agricultural sector contributed ~7.3% to the country's GDP in 2021, whereas the industrial sector contributed ~39% of economic value added (EVA). The rising growth of the industrial & agricultural sectors is generating more demand for land, which is subsequently increasing the sales of land survey equipment. Thus, such factors are driving the land survey equipment market growth.

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In Australia and New Zealand, many regulations, legislation, and bylaws are established to control the survey-related activities and the surveyor's criteria and qualifications. Surveyor requires a government-approved license to undertake land surveys. In Australia, the Intergovernmental Committee on Surveying and Mapping (ICSM) looks after the nation's survey and mapping. However, in New Zealand, the New Zealand Institute of Surveyors (NZIS) governs the country's survey-related activities. ICSM includes the authorities of the government of Australia and New Zealand, the defense forces of Australia, and the states and territories of Australia.

Land Survey Equipment Market Analysis: Application Overview

Based on application, the land survey equipment market report is segmented into volumetric calculation, inspection, layout points, monitoring, and others. The others segment is further bifurcated into scanning and mobile mapping. The inspection segment led the land survey equipment market share in 2021 due to a large number of companies offering equipment for land inspection purposes, such as Solverra Technologies Pvt. Ltd., an India-based company that offers survey drones for the inspection surveys of mining, infrastructure, and energy & power industries.

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