NEW YORK, July 5, 2016 /PRNewswire/ -- The survey equipment market is estimated to be USD 5.09 billion in 2016 and is projected to reach USD 6.91 billion by 2021, at a CAGR of 6.30% between 2016 and 2021. Boom in maritime commerce, increased demand of surveys for error-free nautical charts, coastal management and development, and increased infrastructure development and mining operations are driving the demand for survey equipment across the globe.
"Construction & civil application to dominate the application segment of the survey equipment market"
The construction & engineering application is driving the land survey equipment market. Advanced construction techniques, especially in the offshore oil and gas, construction, and aerospace and defense sectors are driving the survey equipment market globally, both, in land as well as hydrographic segments. Advanced techniques, such as standardization and modularization have become an integral part of land surveying operations in the construction and engineering sector.
"North America to dominate the survey equipment market"
North America is estimated to capture the largest market share in the overall survey equipment market in 2016 due to rapid development of infrastructure and maintenance program. The survey equipment market in the APAC region is projected to grow at the highest CAGR during the forecast period. Rise in railway infrastructure as well as maritime commerce is driving the survey equipment market in the region.
Break-up of profile of primary participants of the survey equipment report:
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, APAC – 30%, RoW – 5%
Technological innovation for improved data management, potential demand for hydro survey in the Arctic region, and focus on technological advancements to minimize operation time are some the potential growth opportunities for the market players in the survey equipment market.
In 2015, the key global players in the market were Thales S.A. (France), Trimble Navigation Ltd. (U.S.), Topcon Corporation (Japan), Fugro (Netherlands), and Hexagon AB (Sweden), among others. These companies adopted growth strategies such as new product launches, supply contracts, and business acquisition to capture a majority share in the growing survey equipment market. Among these, Thales S.A. (France) has a widespread geographic presence in the survey equipment market.
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis — industry analysis, market share analysis of top players, supply chain analysis, and company profiles. This comprises and discusses basic views on the competitive landscape, emerging and high-growth segments of the survey equipment market, high-growth regions and countries, and their respective regulatory policies, market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on survey equipment offered by the top 18 players in the global survey equipment market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading market players
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