Land Survey Equipment Market has been growing rapidly, and a recent report by MarketsandMarkets provides an in-depth analysis of industry and technology trends from 2018 to 2026. The report examines the factors driving the market's growth, including the development of advanced UAV-based land survey equipment and increasing use in the mining and construction industry, as well as technological advancements.
The report notes that the land survey equipment market is estimated to be worth USD 7.7 billion in 2021 and is expected to reach USD 9.9 billion by 2026, at a CAGR of 5.3%. It predicts that the mining and construction industry will be the key driver of growth, and the market for land survey equipment used for layout points is projected to grow at the highest CAGR during the forecast period.
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Commercial land survey equipment is also expected to grow at the highest CAGR rate, with Asia Pacific projected to be the largest regional share of the global market. China, India, and South Korea are major players in the global construction industry, and the market in the Asia Pacific region is projected to grow from USD 3055.6 million in 2021 to USD 4191.3 million by 2026.
The report notes that management and the development of new renewable energy projects and oil & gas projects are fueling the demand for land survey equipment used in the energy & power industry. Total stations, levels, laser, GNSS systems, and Theodolites are among the land survey equipment used in these applications.
Overall, the report provides valuable insights into the factors driving the land survey equipment market's growth and highlights the trends and opportunities to watch in the coming years.
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