Future Market Insights
Soil Testing Equipment Market: Introduction
Soil testing equipment provides critical information which establishing the characteristics of soil material and rock needed by end use industries such as agricultural sector, construction industry, etc. In agriculture sector, soil testing equipment are used to analyze the soil to determine its nutrient levels, composition and various properties such as the pH balance. Soil testing equipment helps to determine fertility levels, identify potential toxics, nutrient deficiencies & trace minerals. Soil testing equipment used by civil and geotechnical engineers provide information having direct impact on selection of foundation systems, pavement materials and design parameters for buildings, bridges, dams, road and other infrastructures. Soil testing equipment performs a wide range of static and dynamic tests as defined by various testing and certifying agencies like ASTM, AASHTO, BS, IS, DIN etc.
Soil testing equipment market had grown significantly in past decade and is expected to have steady growth over the coming years due to high demand from construction industry as well as agricultural sector. In order to meet high level of demand the market players are investing on developing new products and expanding product lines and enhancing global presences through mergers and acquisition strategies.
Soil Testing Equipment Market: Market Dynamics
Global soil testing equipment market is expected to have healthy growth rate over the forecast period. Soil testing equipment market is mainly driven by the growth of the construction and infrastructure industry, owing to growing population and rapid urbanization. Moreover, government of developed and developing countries are focusing on developing smart cities this shifting trend is expected to drive the demand of soil testing equipment. In order to meet the growing demand of food from the increasing population is expected to generate strong demand for soil testing instrument in the agriculture sector. Moreover, soil testing equipment contributes to sustainable intensification as it helps to produce more with less, through reducing cost, minimizing nutrient deficiencies and limiting environmental damage. Key players are focusing on development of cost and time effective customize soil testing equipment. Government initiations in many countries to develop small scale farming in effort to boost the job creation is also expected to significantly drive the soil testing equipment market.
However agriculture sector is facing a slower pace of adoption of new technologies mainly due to lack of training and reluctant nature posed by rural population. Moreover ongoing slowdown in growth of global economy is affecting the construction industry which is indirectly expected to hamper the growth of global soil testing equipment market in the near future. High initial cost of soil testing equipment along with inability to obtain soil characteristics rapidly is another limitation constraining the growth of soil testing equipment market.
Strict government regulations and standards for construction materials are expected to drive the demand for development of advanced soil testing equipment. Moreover, initiatives taken by government and NGOs in many region to improve the agricultural productions and focus on training courses in expected to have positive opportunities for the soil testing equipment market.
Soil Testing Equipment Market: Segmentation
Soil testing equipment market segmentation based on location:
Soil testing equipment market segmentation based on end use industry:
Soil Testing Equipment Market: Regional Outlook
Asia Pacific dominates the soil testing equipment market with a significant market share. Asia Pacific is expected to dominate the market owing to rising per capita income along with rapid urbanization and development of smart cities in the region and expanding agricultural sector. However, economic slowdown in the countries such as India and China is expected to hamper the growth of soil testing equipment market. Europe and North America, being the mature market are expected to have moderate growth over the forecast period. MEA soil testing equipment market is expected to witness significant growth over the forecast period to huge investment in construction and infrastructure industry in countries such as Qatar, Oman, Saudi Arabia, and UAE. Moreover, government initiations to improve agriculture production in countries such as South Africa, Ethiopia, Kenya, etc. are expected to create new market opportunities in the region.
Soil Testing Equipment Market: Key Players
Some of the prominent players operating in soil Testing Equipment market are as follows:
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