The Global Soil Testing Equipment Market research report is a complete study that summarises the most recent changes and advancements in the Soil Testing Equipment industry, with 2018 acting as the base year and the forecast year being 2021–2028. The analysis provides useful details on the market's size, share, sales channels, distribution system, market segmentation, consumer needs, industry trends, and potential for future growth. The research also looks at both the global and regional market growth. The paper examines the COVID-19 pandemic's implications on the market for Soil Testing Equipment and its key segments.
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. 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.
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Competitive Terrain:
The global Soil Testing Equipment industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
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., and S.W. Cole
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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.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Soil Testing Equipment market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Soil Testing Equipment market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Soil Testing Equipment market.
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Market Overview:
The report bifurcates the Soil Testing Equipment market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- 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:
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global Soil Testing Equipment Market report:
- The latest report comprehensively studies the global Soil Testing Equipment market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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