Surveying Equipment Market to grow by USD 2.85 billion from 2022 to 2027, Growth in the construction industry to drive the growth- Technavio

NEW YORK, Oct. 10, 2023 /PRNewswire/ -- The surveying equipment market size is expected to grow by USD 2.85 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 4.83% during the forecast period. The market is segmented by application (land application and hydrographic application), product (total stations and theodolites levels, GNSS system, UAV, pipe lasers, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

The growth in the construction industry is a key factor driving market growth. It is estimated that India will be a major driver of this growth, due to government initiatives such as Smart Cities and Housing for All. To speed up the construction of new residential buildings, 2022, will encourage affordable housing and favorable policy changes. In addition to India, emerging economies in the Asia-Pacific region such as Vietnam, the Philippines, and Indonesia also offer significant investment opportunities in the construction market. Hence, these factors are expected to drive market growth during the forecast period. 

Key Highlights:

• The report recognizes the following as some of the key players in the surveying equipment market: Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, Raytheon Technologies Corp., Robert Bosch GmbH, Seafloor Systems Inc., Shanghai Huace Navigation Technology Ltd., South Surveying and Mapping Instruments Co. Ltd., SURVEY COPTER, Target Corp., Teledyne Technologies Inc., Thales Group, Topcon Positioning Systems Inc., Trimble Inc., Turner Morris, and Valeport Ltd.
• The surveying Equipment Market is fragmented in nature.
• Market to observe 4.08% YOY growth in 2023.

Market Dynamics:

Major Trend 

• The growth of the UAV market is a major trend in the market.

Significant Challenge

• The environmental conditions that hinder surveying and reduce its accuracy is a significant challenge restricting market growth.

The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample 

Keg Segments:

• The market share growth by the land application segment will be significant during the forecast period.  The increase in passenger and cargo numbers, mainly in the APAC and European regions, has led to significant growth in the global market. Emerging economies, primarily China, have seen significant growth over the past 20 years driven by demand for high-speed trains, both economically and infrastructurally. Furthermore, in Europe, the high-speed train market has great potential due to the need to connect Poland, Spain, Italy, Germany, the Netherlands, the UK, and other European regions. Hence, these factors are expected to drive segment growth during the forecast period. 

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ToC

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio