The land survey equipment market is expected to grow from US$ 8,068.0 million in 2022 to US$ 12,568.4 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028.
The use of terrestrial laser scanners is growing steadily in land surveys. Terrestrial laser scanners with high precision systems can work under various environmental conditions and circumstances, such as deep mines. Terrestrial laser scanners are most suitable for surveying the mining field as this industry needs accurate data to get the facility’s as-built documentation. Special attention is paid to the equipment that supports vertical transport for the safe operation of underground mines. The terrestrial laser scanning is an active imaging ground-based method that provides an accurate, 3D point cloud of the object’s surface with the help of laser range finding. The number of various terrestrial laser scanner instruments in remote sensing applications is increasing. Thus, the use of terrestrial laser scanners for land surveys is one of the major factors contributing towards the land survey equipment market growth in the coming years.
Impact of COVID-19 Pandemic on Land Survey Equipment Market
The COVID-19 pandemic changed the course of working and interacting. It made companies shift to more advanced methods of communication. As most of the land surveying work depends on on-site visits and in-person interaction, the surveyors went through severe problems to overcome them. Controlling workflow, troubleshooting situations, and handling projects became the biggest challenge due to the limited interaction. Another challenge that surveyors face is quality assurance and quality control for surveying projects. Also, as companies were doing remote working, printing & plotting original surveys at full scale became highly difficult, which hindered reviewing and analyzing information. However, the markets started to reopen in Q4 of 2020. Factories resumed their work in 2021, and almost all the manufacturing companies started production. Consequently, the demand for land survey equipment started to rise in APAC, North America and SAM region.
The US has the largest number of surveying equipment manufacturers in the region. These companies had to face several challenges during the pandemic. In March 2020, Robert Bosch Tool Corporation announced that there would be a delay in the shipment of the tools. The company's shipping partners, FedEx and UPS, announced shipping delays and suspensions of their shipping guarantees. This severely affected the company's surveying equipment business during the pandemic. Also, several professional surveyors faced various challenges, from revenue loss to work-related problems. For instance, according to article published by the New York State Association of Professional Land Surveyors in March 2021, surveyors faced a loss of revenue during the pandemic. Approximately 64% of 72 respondents reported a loss of revenue in March 2020 compared to March 2019.
Also, according to the European Construction Industry Federation, in March 2020, construction activities were down by about 60 to 70% in southern Europe. The construction sector of various European countries has hit a low. For instance, the Italian construction sector's PMI index hit 15.9 in March, the lowest level since 1999. From mid-2021, most European businesses and industrial operations reopened with construction activities, such as roads, railways, ports, and others.
Further, in APAC, according to the Organization for Economic Co-operation and Development (OECD), the pandemic severely affected countries such as India, Australia, China, and Japan. Limitations imposed by governments to control the spread of COVID-19 during the initial time stages of the crisis affected the production process in these countries due to the limited workforce availability, which hampered the land survey equipment market in 2020. Also, all the construction activities in these countries were suspended due to the lockdown. As economies reopened and industries began their operations in 2021, the need for land survey equipment from various end users rose gradually. Also, with large-scale vaccination efforts and ease in social restrictions, companies began to work with high workforce capacities.
Furthermore, various economic activities in South America (SAM) were also partially discontinued to curb the spread of SARS-CoV-2. The COVID-19 outbreak adversely affected the region's oil & gas industry. During the pandemic, oil and gas activities were severely disrupted, which subsequently limited the land survey equipment market growth in the region. Social and commercial restrictions imposed by governments of SAM countries constrained activities such as manufacturing and supply chains. However, since Q4 of 2020, economies in SAM resumed slowly, and land survey equipment end-user industries and their respective companies subsequently resumed their operations.
In August 2021, Ivan Merino, the Minister of Energy and Mines of Peru, said in an interview with Reuters that the country is seeking help from mining companies Grupo Mexico’s Southern Copper and Las Bambas of China’s MMG Ltd. to construct a rail system from the Andean zone, which is rich in minerals, to the country’s Central Pacific coast. As the country is the world’s second-largest producer of copper, the government of Peru wants to develop the mining sector with the help of this project. This project is scheduled to start by 2023 from Cusco or Apurimac to the port of Marcona and is expected to start operations by 2028.
Hexagon AB; GUANGDONG KOLIDA INSTRUMENT CO., LTD.; Shanghai Huace Navigation Technology Ltd.; South Surveying & Mapping Technology CO., LTD.; Topcon Corporation; Trimble Inc.; Hi-Target, PENTAX Surveying; Suzhou FOIF Co., Ltd.; and Robert Bosch Tool Corporation are a few companies profiled in the land survey equipment market study. The land survey equipment market players are following organic and inorganic growth strategies to sustain the competitive edge. For instance, in 2021, Shanghai Huace Navigation Technology Ltd. launched HCE600 rugged field controller. HCE600 is a professional, lightweight, and compact field data collector that has an alphanumeric keypad specifically designed for field surveying and mapping operations. It consists of connectivity modules such as Bluetooth 5.0, dual-band 2.4G and 5G Wi-Fi, and a 4G modem.
The overall land survey equipment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the land survey equipment market. The process also serves the purpose of obtaining an overview and forecast of the land survey equipment market size with respect to all market segments. Also, industry participants and commentators have conducted multiple primary interviews to validate the data and gain more analytical insights. Participants typically involved in the land survey equipment market study include VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the land survey equipment market.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Hexagon AB
- GUANGDONG KOLIDA INSTRUMENT CO. LTD.
- Shanghai Huace Navigation Technology Ltd.
- South Surveying & Mapping Technology CO., LTD.
- Topcon Corporation
- Trimble Inc.
- Hi-Target
- PENTAX Surveying
- Suzhou FOIF Co., Ltd.
- Robert Bosch Tool
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 269 |
| Published | September 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 8068 Million |
| Forecasted Market Value ( USD | $ 12568.4 Million |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
