Surveying Equipment Market - North America, Europe, EMEA, APAC : US, Canada, China, Germany, UK - Forecast 2023-2027

Surveying Equipment Market Forecast 2024-2028

The Surveying Equipment Market size is estimated to grow by USD 2.86 billion, accelerating at a CAGR of 4.83% between 2022 and 2027. The market's expansion hinges on key factors such as the burgeoning railway sector in APAC, robust growth in the construction industry, and the emergence of new opportunities in natural gas markets. The increasing demand for railway infrastructure in the Asia-Pacific region, coupled with ongoing construction activities, drives the need for surveying equipment. Additionally, the exploration and development of natural gas reserves open up new avenues for the deployment of surveying equipment in related industries, fostering market growth.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by Application (land application and hydrographic application), Product (total stations and theodolites levels, GNSS system, UAV, pipe lasers, and others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

Market Dynamics and Customer Landscape

The market experiences robust growth driven by technological advancements like GPS/GNSS technology and automation, facilitating efficient data collection and time-saving processes. Infrastructure development and urbanization fuel demand, especially in sectors like construction, oil & gas, agriculture, and mining. The adoption of subscription and rental models offers flexibility, while a skilled workforce and technical knowledge are essential for leveraging advanced technology such as total stations, laser scanners, and drones. Challenges include the need for continuous innovation to meet evolving market needs and addressing data security concerns in rental and leasing services. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. A holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

Key Driver

The market growth is being largely fueled by the construction industry, which is expected to witness a substantial increase in global construction activities by 65% by 2025. India is expected to be a major contributor to this growth, particularly through government initiatives such as the Smart Cities project and the Housing for All by 2022 initiative, which will promote affordable housing and supportive policy changes to accelerate construction activity. The entry of new construction technology and international infrastructure players is also expected to boost the Indian construction industry and drive market growth.

In addition to India, emerging economies in the Asia Pacific region, such as Vietnam, the Philippines, and Indonesia, are presenting significant opportunities for investment in the construction market, which will further contribute to global market growth during the forecast period.

Significant Trends

An emerging trend in the market is the growth of the UAV market, with unmanned aerial vehicles (UAVs) being increasingly adopted for civil applications, presenting numerous opportunities for air-based activities. These opportunities include cost-effective, rapid, and highly automated geospatial data acquisition in small to medium-sized areas, as well as the generation of topographic and photographic data. UAVs can also survey hazardous or difficult-to-reach areas without human intervention.

The United States is a leading player in drone technology, with extensive experience in the usage of drones for over a decade. The country conducts significant research and development to advance drone technology and has implemented programs such as the UCLASS UAV program to enhance US naval aviation through carrier-borne drone capability. Additionally, the US has developed stealth drones, high-altitude surveillance drones, and other drones to meet political and military policy needs, which will drive the global market growth during the forecast period.

Major Challenge

Major challenges impeding the market include environmental conditions that hinder surveying and reduce its accuracy. In Antarctica, hydrographic surveying is particularly challenging due to adverse and extreme oceanic and meteorological conditions. Coastal areas also face limitations, with survey seasons restricted to one or two months per year when the area is relatively ice-free. Grounded icebergs and onshore winds can further obstruct the survey area, leading to only a limited window of opportunity to collect hydrographic data in the region.

In addition, strong winds, freezing temperatures, and ice flows pose significant risks to survey equipment and personnel, despite careful planning and spares being made available. Any catastrophic equipment failure can result in the loss of an entire survey season, and unexpected equipment failure can also hinder achieving results. As a result, these factors are likely to impede global market growth during the forecast period.

Customer Landscape

Our analysis of the adoption life cycle of the market research and growth indicates its movement between the innovator’s stage and the laggard’s stage. The market research report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop market growth and forecasting strategies from 2022 to 2027. 

Customer Landscape

Who are the Major Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Ohmex Ltd. -  The company is involved in the manufacturing equipment involved in environmental science applications such as environmental data collection, land, and hydrographic surveying systems. The key offerings of the company include surveying equipment. 

Seafloor Systems Inc.- The company offers a wide range of products under the single beam, ADCP, side scan, sub-bottom, UAV/USV, INS/Motion, multi-beam, SVP/SVS, software, GNSS, ex-rentals for purchase, and rentals categories.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

• Aparna Agencies
• FARO Technologies Inc.
• Guangdong Kolida Instrument Co. Ltd.
• Hexagon AB
• Kongsberg Gruppen ASA
• PASI srl
• Raytheon Technologies Corp.
• Robert Bosch GmbH
• Shanghai Huace Navigation Technology Ltd.
• South Surveying and Mapping Instruments Co. Ltd.
• SURVEY COPTER
• Target Corp.
• Teledyne Technologies Inc.
• Thales Group
• Topcon Positioning Systems Inc.
• Trimble Inc.
• Turner Morris
• Valeport Ltd.

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Market Segmentation by  Application, Product, and Geography

The market is witnessing a significant growth driven by technological advancements such as GPS/GNSS technology and 3D laser/laser scanners, which enhance data collection and enable time-saving processes in various industries, including construction, oil & gas, agriculture, and mining. Infrastructure development and urbanization further propel the demand for land survey equipment and GNSS systems, while automation and robotics revolutionize surveying operations. Subscription and rental models offer cost-effective solutions, leveraging a skilled workforce proficient in technical knowledge and advanced technology. Unmanned aerial vehicles (UAVs) and drones are increasingly utilized for efficient data collection, supported by software advancements and rental and leasing services facilitating access to cutting-edge equipment.

Application Analysis

The market share growth by the land application segment will be significant during the forecast period.  The land application segment was valued at USD 6.94 billion in 2017 and continued to grow until 2021. The rise of passengers and freight, primarily in APAC and Europe, has been driving the global market to grow significantly. The emerging economies, primarily China, have significantly expanded based on the demand for high-speed rail over the past 20 years in terms of both economy and infrastructure. Furthermore, in Europe, the market for high-speed rail has a high potential as there is a demand to connect Poland, Spain, Italy, Germany, the Netherlands, the UK, and other European regions. Additionally, North America, Mexico, the US, and Canada are investing in high-speed rails, driving the demand for surveying equipment with increased traffic congestion in different corridors. Therefore, these factors are expected to drive the growth of this segment during the forecast period.

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Regional Analysis

APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period.

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The market in APAC is expected to grow at a significant pace during the forecast period. The growth will be significantly driven by major countries in the region, such as China, India, Japan, Australia, Malaysia, and South Korea, which have the technological capabilities and are also investing extensively in land surveying technologies, such as GNSS, UAVs, and others. Moreover, vendors in APAC are also deploying highly competitive pricing strategies with aftermarket support services, which in turn, is fuelling the regional market growth. India and China are the two major economies in APAC, which have advanced satellite infrastructure. China has emerged as one of the leading providers of commercial space launch services in the region. Besides GNSS, both India and China are also rapidly adopting drones for commercial applications, including land surveying. Drones can reduce costs and time, streamline the surveying process, and ensure flexibility and the operator's safety.

For instance, under the Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas (SVAMITVA) scheme launched by the Indian government in April 2020, drone surveying is used for the demarcation of rural areas. These surveys will help landowners to maintain proper land records so that they can use those properties to take loans in the near future. On the other hand, China has been adopting drones for various disaster management activities.  Therefore, such factors are expected to drive the growth of the regional market during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Total stations and theodolites levels
  • GNSS system
  • UAV
  • Pipe lasers
  • Others
• Application Outlook
  • Land application
  • Hydrographic application
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Market Analyst Overview 

The market is experiencing robust growth due to various factors such as transportation networks expansion, renewable energy projects, and mining & construction activities. Leveraging cutting-edge technology like visual SLAM and LiDAR systems, surveyors are enhancing data processing and documentation accuracy. The adoption of digital twin creation and advanced software facilitates efficient disaster management and construction planning. Despite technological advancements, challenges like the lack of skilled manpower persist, driving the demand for integrated smart antennas and modular GNSS systems. The rental and leasing service providers play a vital role in addressing the need for modern land survey equipment, particularly for tasks like exploration drilling and pipeline management. With increasing demand for volumetric calculations and layout points, the market is poised for significant expansion.

Also, the market is witnessing significant growth driven by technological advancement and increased demand across sectors like construction, the oil & gas industry, the agriculture industry, and the mining industry. Key technologies such as Visual SLAM and LiDAR systems are revolutionizing data collection and analysis, particularly in industries like nuclear facilities and disaster management. With a diverse construction equipment portfolio and advanced management systems, surveyors can efficiently conduct research and planning tasks. The market is further fueled by innovations like Total stations & theodolites, GNSS technology, and portable 3D imaging laser scanners, catering to the needs of various industries and driving growth in the market.

Market Scope
Report Coverage	Details
Page number	171
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 4.83%
Market growth 2023-2027	USD 2.86 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	4.08
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 48%
Key countries	US, China, India, Germany, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, Raytheon Technologies Corp., Robert Bosch GmbH, Seafloor Systems Inc., Shanghai Huace Navigation Technology Ltd., South Surveying and Mapping Instruments Co. Ltd., SURVEY COPTER, Target Corp., Teledyne Technologies Inc., Thales Group, Topcon Positioning Systems Inc., Trimble Inc., Turner Morris, and Valeport Ltd.
Market dynamics	Parent market growth analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the surveying equipment market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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