Growing urbanization and industrialization across the globe to drive global soil testing equipment market
According to TechSci Research report, “Global Soil Testing Equipment Market By End Use Industry (Agriculture, Construction, Others), By Type of Tests (Physical Test, Chemical Test, Residual Tests), By Degree of Automation (Manual, Automatic, Semi- Automatic), By Site (Laboratory Vs On- Site), By Region, Competition, Forecast & Opportunities, 2025”, global soil testing equipment market is expected to witness significant growth rate during the forecast period. Growing requirement for proper farm management practices is one of the major factors accounting for the growth of global soil testing equipment market. Moreover, need for faster & reliable test results is expected to bode well for the growth of global soil testing equipment market through the forecast period. In addition to this, industrialization, and intensification of agriculture, is anticipated to positively influence the growth of global soil testing equipment market in the years to come. Also, continuous implementation of precision farming for maximizing the yield and profitability of crops, is making headway for the growth of global soil testing equipment market. Along with this, chemical outbreaks across the globe is leading to increased frequency of soil testing, thereby anticipated to positively contribute to the market growth during the next five years. However, there are some factors that might act as major impediments to the growth of global soil testing equipment market through 2025 including high initial cost of soil testing equipment and inability to obtain soil characteristics quickly.
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Global soil testing equipment market can be segmented based on end use industry, type of tests, degree of automation, site, company, and region. Considering the end use industry, the market is fragmented into agriculture, construction, and others. Among these, the construction segment dominated the global soil testing equipment market until 2019 and is further anticipated to maintain its dominance during the forecast period as well. Rapidly expanding construction industry, especially in developing nations such as India, etc., is one of the key factors leading to the dominance of construction segment in the soil testing equipment market. Moreover, India has received substantial foreign direct investments for the improvement of infrastructure in the light of rapid industrialization, which is further estimated to contribute to the growing trend. Additionally, rise in global infrastructure spending is further expected to fuel the growth of soil testing equipment market in the years to come.
Agilent Technologies, Thermo Fisher Scientific, Merck Group, Perkinelmer Inc., Controls S.P.A, Lamotte Company, Geotechnical Testing Equipment UK Ltd, Sun Labtek Equipment (I) Pvt. Ltd, Martin Lishman Ltd, S.W. Cole, ELE International, Gilson Company Inc., Humboldt MFG. Co., Eie Instruments Pvt. Ltd., Eurofins Scientific, Aimil Ltd., Alfa Testing Equipment, Matest, M & L Testing Equipment, Shambhavi Impex, are among others are the leading players operating in global soil testing equipment market. The players are adopting several growth strategies to enhance the market scenario of soil testing equipment. Other competitive strategies include new product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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“Asia Pacific is forecast to dominate the global soil testing equipment market until 2025 on account of growing funds for environmental protection. Furthermore, presence of key market players in the region is further anticipated to boost the market growth for soil testing equipment over the coming years. In addition to this, shift of trend towards adoption of organic farming is further estimated to aid the market growth in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Soil Testing Equipment Market By End Use Industry (Agriculture, Construction, Others), By Type of Tests (Physical Test, Chemical Test, Residual Tests), By Degree of Automation (Manual, Automatic, Semi- Automatic), By Site (Laboratory Vs On- Site), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global soil testing equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global soil testing equipment market.
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Source : TechSci Research