According to the new research report on “Land Survey Equipment Market Forecast to 2028 – COVID-19 Impact and North America, Asia-Pacific and South America Analysis,” published by The Insight Partners, the market is expected to reach US$ 8,395.7 million by 2028 and register a CAGR of 7.9% from 2022 to 2028.
The use of unmanned aerial vehicles (UAVs) and remote control drones is increasing in the mapping and surveying professions. These technologies have many potential applications within several sectors related to land surveys, agriculture, and environmental monitoring. With the help of drones and UAVs, surveyors can get their data precisely and quickly. UAVs and drones are safer as it eliminates the requirement of manpower to enter dangerous environments for measurements. With the help of these technologies, surveyors can access areas that are inaccessible to humans. UAVs combine photogrammetry, 3D mapping, land surveys, topographic surveying, etc. However, legal permission must be taken from the respective authority before using UAVs and drones by the surveyors. There are a few challenges associated with using drones and UAVs for a survey, such as pilot training for the operator and its assessment, keeping up with regulations for the operation, and providing professional output to the customer. If surveyors overcome these challenges, the use of UAVs and drones is expected to become a trend in the land survey equipment market.
Based on solution, the land survey equipment market is segmented into hardware, software, and services. The hardware segment accounted for the largest land survey equipment market share in 2021. Hardware is used for measurement and surveying at construction sites. The hardware tools used for land surveying help to generate accurate data.
Based on industry, the land survey equipment market is segmented into mining, construction, agriculture, oil & gas, and others. The construction segment led the land survey equipment market in 2021. In the construction industry, 3D scanners, total stations, UAVs, layout stations, and laser measuring systems are used for land surveying. In early 2022, Fufeng Group, a Chinese food company, purchased 300 acres of land near North Dakota, US, to construct a milling plant. Thus, a strong pipeline of such upcoming construction projects is likely to boost the demand for land survey equipment in the coming years.
Based on application, the land survey equipment market is segmented into volumetric calculation, inspection, layout points, monitoring, and others. The others segment is further bifurcated into scanning and mobile mapping. The inspection segment led the land survey equipment market in 2021 due to a large number of companies offering equipment for land inspection purposes, such as Solverra Technologies Pvt. Ltd., an India-based company that offers survey drones for the inspection surveys of mining, infrastructure, and energy & power industries.
Key Findings of Land Survey Equipment Market Study
The APAC land survey equipment market is segmented into Australia, China, India, Japan, South Korea, Singapore, the Philippines, Malaysia, and the Rest of APAC. APAC held the largest land survey equipment market share in 2021 and is expected to register the highest CAGR during the forecast period. Growing construction activities in the residential & commercial sectors in developing countries in APAC, such as China and India, and the presence of a vast agricultural sector, are likely to support the land survey equipment market growth in the region during the forecast period. Further, the region has countries such as India, China, Japan, and Malaysia, whose primary source of income is agriculture. In November 2021, the report published by International Trade Administration stated that Malaysia is the world’s second-largest producer and exporter of palm oil after Indonesia. In 2020, the country produced 26% of the world’s palm oil and exported ~34% of the global export. The country’s forestry, agriculture, and fisheries sector contribute ~8% to the country’s GDP. Moreover, as per the land survey equipment market study, the players such as GUANGDONG KOLIDA INSTRUMENT CO., LTD.; Changzhou Dadi Surveying Science & Technology; Hi-Target Navigation Technology Corporation; Shanghai Huace Navigation Technology Ltd.; South Surveying & Mapping Technology CO., LTD.; and Suzhou FOIF Co., Ltd. are fueling the land survey equipment market growth in the region. Further, the Indian government authorities such as “The Department of Survey and Land Records” require this equipment. Hence, the demand for land survey equipment will continue to grow in the region due to the presence of such departments.
According to Land Transport Authority, Singapore is planning a project to expand its rail network to 360km by 2030. Furthermore, with this project, 8 out of 10 households in Singapore will be 10 minutes far from the train stations. This railway line is expected to be longer than major cities of the country, such as Hong Kong and Tokyo, and ~18 train stations will be constructed.
Further, the Philippines is planning to construct a rail route. This 55 km rail route will connect the city of Calamba with Metro Manila. For this South Commuter Railway Project, the Asian Development Bank (ADB) approved a US$ 4.3 billion loan to the country, which will be offered in installments. The first installment of US$ 1.75 billion was provided in 2022, whereas the second and third installments will be provided by 2024 and 2026, respectively. Moreover, Japan is one of the key providers of land survey equipment due to the rapid adoption of advanced technologies in many industries in the country and the presence of several industries, such as mining, automotive, and construction. Moreover, new technologies, such as UAV, GNSS, and laser scanners integrated into land survey equipment are expected to increase the demand in the land survey equipment market. Thus, rising construction developments, such as the construction of highways, theme parks, and power plants, will increase the demand for land survey equipment and contribute to the land survey equipment market growth in APAC.
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