According to Future Market Insights (FMI), the worldwide land survey equipment market is expected to reach US$7487.6 million in 2024 and US$15868.4 million by 2034. The market is projected to rise at a CAGR of 7.8% from 2024 to 2034.
Increasing population, urbanisation, industrialisation, infrastructure development in developing nations, and ambitious plans for smart cities are factors fuelling growth. Technology advancements like GNSS are essential for assessing locations and tracking construction activities, spurring demand.
Land survey equipment is gaining traction in transportation networks, renewable energy projects, and site suitability assessment. This equipment aids in construction, grading, and site design optimisation, ensuring regulatory compliance and maximising energy production while minimising environmental impact.
Legal requirements and the need for accurate data for construction projects are set to drive the market. Consumer awareness of safety norms and the benefits of inspection and monitoring are further fuelling demand for land survey equipment.
Key takeaways from the land survey equipment market report:
- The land survey equipment industry is expected to reach a value of USD 15868.4 million by 2034
- The market is projected to surge at a CAGR of 7.8% by 2034
- Japan’s land survey equipment market is expected to grow at a CAGR of 3.3% by 2034
- The United States is projected to surge at a CAGR of 4.4% by 2034
- Based on the product, the GNSS system segment is expected to hold a market share of 31.3% in 2024
“The booming construction industry, government initiatives, and real estate reforms worldwide are driving demand for land survey equipment. Integration of technologies such as GNSS, 3D scanning and UAVs are projected to enhance accuracy and efficiency in the construction industry, fueling sales of land survey equipment,” said Nikhil Kaitwade Associate Vice President at FMI.