The soil testing equipment market is projected to grow at a CAGR of 10.8%
NEW YORK, Dec. 30, 2019 /PRNewswire/ --
The soil testing equipment market is projected to grow at a CAGR of 10.8%.
The global soil testing equipment market size is estimated to be valued at USD 3.3 billion in 2019 and is projected to reach USD 6.2 billion by 2025, at a CAGR of 10.8% from 2019 to 2025. The market is driven by factors such as the growing urbanization, industrialization, and organic farmlands.
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By end-user industry, the agriculture segment is projected to witness the fastest growth during the forecast period.
The agriculture segment is projected to grow at the highest CAGR, as there is increasing adoption of soil testing equipment in farm management programs across various countries.Precision agriculture is the current trend that is aimed at optimizing the efficiency of fields by effective usage of operational processes.
The development and adoption of precision farming over the years have promoted soil testing, which has become a basis for understanding the variations in the yield potential and the decision to add the right amount of fertility.
By type of tests, the residual segment in the soil testing equipment market is projected to grow at the highest CAGR during the forecast period.
There are several types of tests for soil testing; these include chemical, physical, and residual.The soil testing market for residual elements, conducted across various sectors, such as the agriculture, construction, environment, and oil & gas industries, is projected to grow at the highest CAGR from 2019 to 2025.
The equipment largely used for residual testing are GC-MS, ICP-MS, AAS, and others.
North America is projected to be the fastest-growing region in the soil testing equipment industry due to the presence of a large number of equipment providers and R&D funding.
North America accounted for the majority of the global soil testing equipment market share in 2018.Several environment governing organizations have been actively contributing to market growth and enforced various environment protection policies.
The North American testing soil testing equipment market addresses multiple environmental issues, such as climate change, acid rain reduction, industrialization, soil erosion, and construction.
Break-up of Primaries
• By Company Type: Tier 1 - 35%, Tier 2 - 35%, and Tier 3 - 30%
• By Designation: C-level - 26%, Directors - 37%, and Others* - 37%
• By Region: North America - 9%, Europe - 24%, Asia Pacific - 57%, and RoW** - 10%
*Others include sales managers, marketing managers, and product managers.
**RoW includes South America, the Middle East, and Africa.
The three tiers of the companies are defined based on their total revenues as of 2016.
Leading players profiled in this report:
• Agilent Technologies (US)
• Thermo Fisher Scientific Inc. (US)
• Merck Group (Germany)
• PerkinElmer Inc. (US)
• Controls S.p.A (Italy)
• LaMotte Company (US)
• Geotechnical Testing Equipment UK Ltd (UK)
• Sun Labtek Equipments (I) Pvt. Ltd (India)
• Martin Lishman Ltd (UK)
• S.W. Cole (UK)
• Ele International (UK)
• Gilson Company Inc. (US)
• Humboldt Mfg. Co. (US)
• EIE Instruments Pvt. Ltd (India)
• Eurofins Scientific (Luxemburg)
• Alfa Testing Equipment (US)
• Matest (Italy)
• M&L Testing Equipments (Canada)
• Shambhavi Impex (India)
Research Coverage
This report segments the soil testing equipment market based on end-user industry, site, type of tests, degree of automation, and region. In terms of insights, this research report focuses on various levels of analysis—competitive landscape, end-user analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the soil testing equipment industry, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the soil testing equipment industry
• To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
• To gain insights about the major countries/regions in which the soil testing equipment market is flourishing
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