Global Soil Testing Equipment Market Forecast to 2028
The global soil testing equipment market size is expected to reach USD 8.36 Billion in 2028 and register a steady CAGR over the forecast period, according to the latest analysis by Emergen Research. Steady market revenue growth can be attributed to the growing utilization of soil testing equipment in the construction sector. Increasing construction activities in developing countries, the responsibility to ensure safe construction, and the need for reliable geotechnical soil investigation are contributing to increasing demand for and use of soil testing equipment in the construction sector globally. Structural engineers opt for mandatory soil testing to determine weight bearing capacity and structure stabilization on soil. Assessment of the behavior of soils under varying conditions of loading, moisture, temperature, and stress requires the use of soil testing accessories and equipment. Geotechnical investigation of soil helps structural engineers make better decisions, thus leading to the success of the construction project. Increasing investment by major players in the launch of technologically more advanced soil testing equipment is projected to drive growth in the soil testing equipment market.
By carefully analyzing the vital commercial data and broad geographic dispersion of the business, Emergen Research created a market research study on Soil Testing Equipment. The study provides comprehensive coverage of the qualitative and quantitative analysis of the market for Soil Testing Equipment as well as important market statistics. The study paper offers current estimates through 2021 as well as historical data from 2017 to 2018. The profiles of both well-known and emerging industry participants in the research contain a summary of the company, its product portfolio, strategic relationships, and corporate expansion goals.
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Competitive Terrain:
The global Soil Testing Equipment industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Agilent Technologies, Thermo Fisher Scientific, Merck Group, PerkinElmer, Controls S.p.A., LaMotte Company, Inc., Geotechnical Testing Equipment UK Ltd., Sun Labtek Equipment (I) Pvt. Ltd., Martin Lishman Ltd., and S.W. Cole
Research Report on the Soil Testing Equipment Market Addresses the Following Key Questions:
Who are the dominant players of the Soil Testing Equipment market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Soil Testing Equipment market?
What are the key growth drivers and restraining factors of the Soil Testing Equipment market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Soil Testing Equipment market and its key segments?
Market Overview:
The report bifurcates the Soil Testing Equipment market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Type Outlook (Revenue, USD Billion; 2018–2028)
Chemical
Physical
Residual
Site Outlook (Revenue, USD Billion; 2018–2028)
On-site
Laboratory
End-use Outlook (Revenue, USD Billion; 2018–2028)
Construction
Agriculture
Others
Regional Landscape section of the Soil Testing Equipment report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights from the Report
In June 2020, Agilent Technologies announced the launch of two new mass spectrometry (MS) products namely the Agilent 6470B Triple Quadrupole LC/MC (6470 LC/TQ) system and the Agilent Rapid Fire 400 system. Both the systems deliver faster detection of target compounds providing customers increased sample throughput and reduced time to generate results.
Residual segment accounted for largest revenue share in 2020. Growing awareness among consumers regarding negative effects of chemical residues such as fertilizers and pesticides in fruits and vegetables is driving need for soil testing.
Laboratory segment revenue is expected to expand at a rapid CAGR during the forecast period. Geotechnical laboratories for research and development are increasingly utilizing more advanced equipment to improve soil testing accuracy.
Construction segment accounted for a significantly large revenue share in the soil testing equipment market in 2020. Rising need to prevent building collapse caused due to lack of geotechnical soil investigation is expected to increase demand for soil testing equipment in the construction sector.
North America accounted for largest revenue share contribution to the global soil testing equipment market in 2020. Increasing investment by major players in the region for launch of more technologically advanced soil testing equipment is projected to drive market growth.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Soil Testing Equipment market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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