Global Soil Testing Equipment Market Size 2024, Forecast To 2033
6 Mar, 2024
The soil testing equipment market has seen rapid growth, surging from $4.66 billion in 2023 to $5.24 billion in 2024, indicating a compound annual growth rate (CAGR) of 12.3%. The growth in the historical period is attributed to the rise in agricultural activities, government initiatives and regulations, an increased awareness of soil health, global concerns about food security, and the consolidation and increase in the size of farms. Looking forward to 2028, the market is expected to maintain its rapid growth trajectory, reaching $7.95 billion with a CAGR of 11.0%. This anticipated growth is linked to an increasing emphasis on precision agriculture, adaptation to climate change, the growing popularity of sustainable agriculture, government support and subsidies, and the expansion of agricultural export markets. Key trends in this forecasted period include a focus on cost-effective solutions, market consolidation and partnerships, global concerns about food security, the demand for sustainable agriculture, and the integration of data-driven decision-making.
Global Soil Testing Equipment Market Key Driver
The soil testing equipment market is poised for growth due to the increasing number of construction activities worldwide. Construction activities encompass various tasks related to building and infrastructure development, such as clearing, grading, excavation, and filling of land. Soil testing, a crucial scientific process, evaluates the technical and physical properties of soil, aiding in the selection of suitable foundations for construction projects. According to a 2022 report by ToolSense, the construction industry witnessed a 4% increase in the number of housing units built in 2021, reaching a total of 1,337,800. Notably, between March and July 2020, residential building volume surged by an impressive 275%. This surge in construction activities is a significant driver for the growth of the soil testing equipment market, with market sizes projected for USD 2023, 2024, and 2028.
Get A Free Sample Of The Global Soil Testing Equipment Market ReportGlobal Soil Testing Equipment Market Segments
The soil testing equipment market covered in this report is segmented –
1) By Type Of Test: Physical, Residual, Chemical
2) By Site: Laboratory, On-site
3) By Degree Of Automation: Manual, Semi-Automatic, Automatic
4) By End-User: Construction industry, Agriculture industry
By Geography:The regions covered in the soil testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the soil testing equipment market in 2023. The regions covered in the soil testing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Soil Testing Equipment Industry Players
Controls S.p.A., ELE International, Gilson Company Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., PerkinElmer Inc., Merck KGaA, LaMotte Company, Humboldt Mfg. Co., EIE Instruments Private Limited, Sun Labtek Equipments (I) Private Limited, S.W. Cole Engineering Inc., Eurofins Scientific S.E., M&L Testing Equipment LLC, Alfa Testing Equipment LLC, Martin Lishman Ltd., Geotechnical Testing Equipment (UK) Ltd, Matest, Shambhavi Impex, SGS Société Générale de Surveillance SA, ALS Limited, Element Materials Technology Group Limited, Intertek Group plc, Bureau Veritas S.A., PCE Instruments, GDS Instruments, Seidner Laboratories Inc., Geotest Instrument Corporation, Geo-Slope International Ltd., Soil Mechanics Corporation
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Soil Testing Equipment Market Overview
Soil testing equipment refers to equipment and devices employed to examine soil specimens for different factors, including chemical composition, hazardousness, acidity level, saltiness, and subterranean organisms. It is widely utilized to conduct geotechnical tests that offer useful insights into the soil mechanics properties that impact the robustness and durability of pavements, embankments, and other constructions.
Soil Testing Equipment Global Market Report 2023 provides data on the global soil testing equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The soil testing equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.