Soil Testing Equipment Market Size Expected to Reach About USD 8.57 Billion By 2028 – Reports and Data
The growing adoption of precision agriculture and the growing promotion of soil testing by governments are key factors that are expected to drive the revenue growth of the market
NEW YORK, NY, USA, Oct 29, 2021 /EINPresswire.com/ – Global market size for soil testing equipment is expected to reach USD 8.57 billion by 2028 at a CAGR of 11.2% , according to a latest report from Reports and Data. The increasing adoption of precision agriculture and rapid industrialization across the world have driven the demand for soil testing equipment in agriculture and construction industries, which is expected to significantly boost growth. market revenue over the forecast period. The growing need for more accurate and efficient farm management practices and the growing number of government policies to promote soil testing are other key factors that are expected to contribute to market income growth in the future.
Soil analysis equipment provides important information on soil and rock characteristics that are vital for end-use industries such as agriculture and construction sectors. Soil testing equipment is used to determine soil nutrient levels, composition, acidity and pH balance, and moisture content. It offers essential soil information, which can be used by civil engineers to help select the ideal foundation system and design parameters for buildings, dams, roads and other infrastructure. The adoption of precision agriculture maximized crop yield and profitability and allowed assessment of soil fertility and nutrient content to optimize soil quality and formulation. This further resulted in increased crop yield and lower initial costs, and is expected to further drive the market growth during the forecast period.
Growing urbanization and industrialization in emerging economies has spurred the growth of the construction and building sectors in the recent past. The rapid increase in infrastructure development in various countries of the world has led to an increase in demand for soil testing equipment and this trend is expected to continue during the forecast period. However, the lack of training and the growing reluctance to accept modern technologies in the agricultural sector are expected to hamper the growth of the market to some extent. In addition, the high costs of the equipments are also expected to restrain the growth of the market to some extent during the forecast period.
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The main companies operating in the market are Agilent Technologies (USA), Thermo Fisher Scientific Inc., Merck Group, PerkinElmer Inc., Controls SpA, LaMotte Company, Geotechnical Testing Equipment UK Ltd., Sun Labtek Equipments (I) Pvt. Ltd., Martin Lishman Ltd., Humboldt Mfg. Co., Eurofins Scientific, Alfa Testing Equipment, M&L Testing Equipment, Shambhavi Impex and Matest, among others.
Some highlights of the report:
â¢ The physical testing segment is expected to account for a considerable share of the revenue in the global market during the forecast period owing to the rapid industrialization and urbanization in emerging economies such as India and China and the increasing growth of the construction industry in countries around the world.
â¢ Auto segment revenue is expected to increase significantly over the forecast period due to the growing need for faster and more accurate test results, the rapid adoption of precision agriculture, and the growing need for rigs. more efficient farm management.
â¢ The vast scope of road construction and construction business requires on-site soil testing, which is expected to contribute significantly to on-site segment revenue growth over the forecast period.
â¢ The construction segment among end-use industry segments is expected to account for the largest share of market revenue due to the rapid industrialization and urbanization in the world, increasing expenditure on ‘infrastructure and the implementation of strict government policies and standards for building materials.
â¢ The revenues of the North American market are expected to increase significantly over the forecast period owing to increased funding for the development of advanced soil testing equipment, increasing adoption of organic farming and the strong presence of key manufacturers and suppliers in the countries of the region.
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For the purpose of this report, Reports and Data has segmented the global soil testing equipment market on the basis of type of testing, degree of automation, site, end-use industry, and region:
Type of Testing Outlook (Revenue, USD Billions; 2018-2028)
o Shear strength equipment
o Leaching equipment
o Plasticity equipment
o Permeability equipment
o pH meters
o Salinity test equipment
o Test kits and reagents
Outlook Automation Degree (Revenue, USD Billion; 2018-2028)
Site Outlook (Revenue, billion USD; 2018-2028)
â¢ On the site
End User Industry Outlook (Revenue, USD Billion; 2018-2028)
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces Analysis. The report further explores key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and validated by analysts, industry experts and market professionals. The report also highlights recent mergers and acquisitions, joint ventures, collaborations, partnerships and product launches, among others.
The regional analysis covers the assessment of imports / exports, production and consumption ratios, supply and demand, costs, prices, estimated revenues and gross margins, and the presence of actors keys in the area. The report also offers information on revenue growth, market size, market share, the technological advancement, and the presence of key players in each region.
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The regional bifurcation of the soil analysis equipment market includes:
North America (United States, Canada, Mexico)
Europe (UK, Italy, Germany, France, rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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