DUBLIN–(BUSINESS WIRE)–The “Land Survey Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Solution, Industry, Application and Hardware” report has been added to ResearchAndMarkets.com’s offering.
The land survey equipment market is expected to grow from US$ 8,068.0 million in 2022 to US$ 12,568.4 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028.
The use of terrestrial laser scanners is growing steadily in land surveys. Terrestrial laser scanners with high precision systems can work under various environmental conditions and circumstances, such as deep mines. Terrestrial laser scanners are most suitable for surveying the mining field as this industry needs accurate data to get the facility’s as-built documentation. Special attention is paid to the equipment that supports vertical transport for the safe operation of underground mines.
The terrestrial laser scanning is an active imaging ground-based method that provides an accurate, 3D point cloud of the object’s surface with the help of laser range finding. The number of various terrestrial laser scanner instruments in remote sensing applications is increasing. Thus, the use of terrestrial laser scanners for land surveys is one of the major factors contributing towards the land survey equipment market growth in the coming years.
Impact of COVID-19 Pandemic on Land Survey Equipment Market
The COVID-19 pandemic changed the course of working and interacting. It made companies shift to more advanced methods of communication. As most of the land surveying work depends on on-site visits and in-person interaction, the surveyors went through severe problems to overcome them. Controlling workflow, troubleshooting situations, and handling projects became the biggest challenge due to the limited interaction.
Another challenge that surveyors face is quality assurance and quality control for surveying projects. Also, as companies were doing remote working, printing & plotting original surveys at full scale became highly difficult, which hindered reviewing and analyzing information.
Various economic activities in South America (SAM) were partially discontinued to curb the spread of SARS-CoV-2. The COVID-19 outbreak adversely affected the region’s oil & gas industry. During the pandemic, oil and gas activities were severely disrupted, which subsequently limited the land survey equipment market growth in the region. Social and commercial restrictions imposed by governments of SAM countries constrained activities such as manufacturing and supply chains. However, since Q4 of 2020, economies in SAM resumed slowly, and land survey equipment end-user industries and their respective companies subsequently resumed their operations.
The SAM land survey equipment market is bifurcated into Peru and the Rest of SAM. In August 2021, Ivan Merino, the Minister of Energy and Mines of Peru, said in an interview with Reuters that the country is seeking help from mining companies Grupo Mexico’s Southern Copper and Las Bambas of China’s MMG Ltd. to construct a rail system from the Andean zone, which is rich in minerals, to the country’s Central Pacific coast. As the country is the world’s second-largest producer of copper, the government of Peru wants to develop the mining sector with the help of this project. This project is scheduled to start by 2023 from Cusco or Apurimac to the port of Marcona and is expected to start operations by 2028.
Furthermore, due to increasing road traffic, the government of Peru has decided to widen Route 22 Central Highway by constructing two-lane roads. This 136 km highway connects Lima, the capital of Peru, with Central Peru. Along with the Route 22 Central Highway, 94 viaducts and 54 new bridges and tunnels to avoid mountain tops will also be constructed. This project is scheduled to be completed by 2025. Such projects will increase the requirement for land survey equipment, which will boost the land survey equipment market growth in SAM.
Market Dynamics
Drivers
- Rising Development in Real Estate
- Increasing Growth of Industrial & Agriculture Sectors
Restraints
- Lack of Skilled Manpower
Opportunities
- Development of Terrestrial Laser Scanners
Future Trends
- Use of Unmanned Aerial Vehicles (UAVs) and Remote Control Drones
Companies Mentioned
- Hexagon AB
- GUANGDONG KOLIDA INSTRUMENT CO. LTD.
- Shanghai Huace Navigation Technology Ltd.
- South Surveying & Mapping Technology CO., LTD.
- Topcon Corporation
- Trimble Inc.
- Hi-Target
- PENTAX Surveying
- Suzhou FOIF Co., Ltd.
- Robert Bosch Tool
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