Increasing adoption of soil testing equipment in construction sector is a key factor supporting global soil testing equipment market growth
VANCOUVER, BC, CANADA, May 5, 2022 /EINPresswire.com/ — Soil Testing Equipment Market Size – USD 3.82 Billion in 2020, Market Growth – at a CAGR of 10.4%, Market Trends – Technological advancements in soil testing equipment
The Global Soil Testing Equipment Industry size is expected to reach USD 8.36 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to growing utilization of soil testing equipment in the construction sector. Increasing construction activities in developing countries and responsibility to ensure safe construction and 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 behavior of soils under varying conditions of loading, moisture, temperature, and stress requires usage of soil testing accessories and equipment. Geotechnical investigation of soil helps structural engineers in making better decisions, thus leading to the success of the construction project. Increasing investment of by major players for launch of technologically more advanced soil testing equipment is projected to drive growth of the soil testing equipment market.
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Key Companies Profiled in the Report:
Thermo Fisher Scientific
LaMotte Company, Inc.
Geotechnical Testing Equipment UK Ltd.
Sun Labtek Equipment (I) Pvt. Ltd
Martin Lishman Ltd.
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.
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Global Soil Testing Equipment Market Report – Segmental Analysis:
The global Soil Testing Equipment business vertical has been extensively categorized on the basis of product type, application gamut, end-user industries, and a competitive overview. The report inspects the current market scenario, its past performance, demand and supply ratios, production and consumption rates, sales, and numerous growth opportunities available in the market. It further estimates the prospective growth of the leading regional segments of the market, which is beneficial for readers to gain impactful insights into the Soil Testing Equipment business sector. A clear outline of the competitive landscape of the market is expected to help businesses involved in this sector decipher the optimal business moves to reach their desired business goals.
Type Outlook (Revenue, USD Billion; 2018–2028)
Site Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
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Regional Outlook (Revenue, USD Billion; 2018–2028)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
Key Objectives of the Global Soil Testing Equipment Market Report:
An all-inclusive analysis and forecast estimation of the market have been included in this report.
The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Soil Testing Equipment market and its leading players.
The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.
The report, additionally, presents a comprehensive analysis of the key elements of the Soil Testing Equipment market that influence its growth over the projected timeline. These vital elements include the key drivers, constraints, opportunities, limitations, threats, and micro and macro-economic factors. The authors of the report have implemented a set of analytical tools, such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis, to offer strategic recommendations to the new entrants on how to overcome the entry-level barriers.
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About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing Marketresearch and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.