Soil Testing Equipment Market Business Scenario, Size, Share, Growth, Trends and Forecasts Report 2028
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Increasing adoption of soil testing equipment in construction sector is a key factor supporting global soil testing equipment market growth
VANCOUVER, BC, CANADA, May 19, 2022 /EINPresswire.com/ -- The global soil testing equipment market size is expected to reach USD 8.36 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to growing utilization of soil testing equipment in the construction sector. Increasing construction activities in developing countries and responsibility to ensure safe construction and need for reliable geotechnical soil investigation are contributing to increasing demand for and use of soil testing equipment in the construction sector globally. Structural engineers opt for mandatory soil testing to determine weight bearing capacity and structure stabilization on soil.
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Assessment of behavior of soils under varying conditions of loading, moisture, temperature, and stress requires usage of soil testing accessories and equipment. Geotechnical investigation of soil helps structural engineers in making better decisions, thus leading to the success of the construction project. Increasing investment of by major players for launch of technologically more advanced soil testing equipment is projected to drive growth of the soil testing equipment market.
The key companies studied in the report are:
Agilent Technologies
Thermo Fisher Scientific
Merck Group
PerkinElmer
Controls S.p.A.
LaMotte Company, Inc.
Geotechnical Testing Equipment UK Ltd.
Sun Labtek Equipment (I) Pvt. Ltd
Martin Lishman Ltd.
S.W. Cole.
Others
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Some Key Highlights from the Report
In June 2020, Agilent Technologies announced the launch of two new mass spectrometry (MS) products namely the Agilent 6470B Triple Quadrupole LC/MC (6470 LC/TQ) system and the Agilent Rapid Fire 400 system. Both the systems deliver faster detection of target compounds providing customers increased sample throughput and reduced time to generate results.
Residual segment accounted for largest revenue share in 2020. Growing awareness among consumers regarding negative effects of chemical residues such as fertilizers and pesticides in fruits and vegetables is driving need for soil testing.
Laboratory segment revenue is expected to expand at a rapid CAGR during the forecast period. Geotechnical laboratories for research and development are increasingly utilizing more advanced equipment to improve soil testing accuracy.
Construction segment accounted for a significantly large revenue share in the soil testing equipment market in 2020. Rising need to prevent building collapse caused due to lack of geotechnical soil investigation is expected to increase demand for soil testing equipment in the construction sector.
North America accounted for largest revenue share contribution to the global soil testing equipment market in 2020. Increasing investment by major players in the region for launch of more technologically advanced soil testing equipment is projected to drive market growth.
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Emergen Research has segmented the global soil testing equipment market on the basis of type, site, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Chemical
Physical
Residual
Site Outlook (Revenue, USD Billion; 2018–2028)
On-site
Laboratory
End-use Outlook (Revenue, USD Billion; 2018–2028)
Construction
Agriculture
Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
BENELUX
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of MEA
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The report addresses the following key points:
The report estimates the expected market size from 2020-2028
The report provides a forecast of market drivers, restraints, and future opportunities for the Soil Testing Equipment market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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Soil Testing Equipment Market Size Worth USD 8.36 Billion in 2028
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