The global land survey equipment market size was US$ 6,211.7 million in 2021. The global land survey equipment market is forecast to grow to US$ 10112.1 million by 2030 by growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2022 to 2030.
The land survey equipment market products include 3D laser/laser scanners, GNSS systems, total stations & theodolites, unmanned aerial vehicles, and levels. These systems are used in various industries, such as construction, disaster management, mining, oil & gas, volumetric calculations, agriculture, etc.
Factors Influencing the Market
Growing construction activities and rising urbanization will drive the land survey equipment market forward. In addition, rising investments in smart city projects will contribute to the growth of the global land survey equipment market. For instance, the government of India shortlisted around 100 cities to transform them into smart cities in the coming years.
The growing population and the rising demand for water, energy, sanitation, and other necessities will escalate the demand for proper management, thereby boosting the growth of the land survey equipment market.
Land survey equipment offers high accuracy and also saves the time of the users. Thus, the benefits associated with the equipment will escalate the growth of the overall land survey equipment market.
Drones are gaining significant traction across various industrial verticals. Thus, it will also contribute to the growth of the land survey equipment market.
Lack of skilled laborers may restrict the growth of the global land survey equipment market. On the contrary, upgrades in data management systems are expected to drive the industry forward. Data management has become one of the important necessities to record and compile the data and use it later. Similarly, data from the survey of lands can be used later for inspection. Thus, it will benefit the overall land survey equipment market during the study period.
Regional Analysis
Due to growing urbanization and industrialization, the Asia-Pacific land survey equipment market is forecast to grow at the highest rate. It is due to the growing impact of China and rising urban areas in the country. Furthermore, growing investments in smart city projects in India will escalate the growth of the market. In India, the adoption of advanced technology is increasing at a rapid pace. For instance, the Airport Authority of India (AAI) announced the installation of the GNSS system in 21 airports in 2020 due to difficulties in landing and takeoff for aircraft during poor weather conditions. Thus, such advancements will also upsurge the demand for the land survey equipment market during the forecast period.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic has negatively impacted the growth of the land survey equipment market. Due to the pandemic, the maximum number of construction projects were either postponed or canceled. Thus, it restricted the growth of the global land survey equipment market.
Competitors in the Market
Market Segmentation
The global land survey equipment market segmentation focuses on Product, Industry, Application, and Region.
By Product Outlook
By Industry Outlook
By Application Outlook
By Region
