New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soil Testing Equipment Global Market Report 2023" - https://www.reportlinker.com/p06466534/?utm_source=GNW
Co., EIE Instruments Pvt. Ltd, Sun Labtek Equipment’s (I) Pvt. Ltd, S.W. Cole Engineering Inc., Eurofins Scientific SE, M&L Testing Equipment, Alfa Testing Equipment, and Martin Lishman Ltd.
The global soil testing equipment market is expected to grow from $4.14 billion in 2022 to $4.66 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The soil testing equipment market is expected to reach $7.15 billion in 2027 at a CAGR of 11.3%.
The soil testing equipment market consists of sales of shear strength equipment, salinity testing equipment, moisture testers, dial and pocket penetrometers, shear vane sets, classification charts, and meters.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the soil testing equipment market in 2022. The regions covered in soil testing equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of tests done by soil testing equipment are physical, residual, and chemical.A physical soil test refers to a type of soil test that identifies the texture and structure of soil, which is important for making effective land-use decisions.
These are executed on various sites, such as laboratories and on-site. The degree of automation involved are manual, semi-automatic, and automatic, which are used by several end-users, such as the construction industry and agriculture industry.
The rise in the number of construction activities is expected to boost the growth of the soil testing equipment market going forward.Construction activities refers to all work done in connection with the development, assembly, modification of buildings, structures, roadways, including the clearing, grading, excavation, and filling of land.
Soil testing is a scientific instrument for evaluating and analyzing soil’s intrinsic technical and physical properties and carrying capacity.It facilitates the selection of the particular foundation where construction has to be done.
For instance, in 2022, according to a report shared by ToolSense, an Austria-based software company related to construction, facility services, mining, agriculture, logistics, or manufacturing, the number of housing units built in 2021 was 1,337,800, which is a 4% rise over the previous year.Between March and July 2020, the volume of residential building rose by 275%.
Therefore, the rise in the number of construction activities is driving the growth of the soil testing equipment market.
Technological advancements are a key trend gaining popularity in the soil testing equipment market.Companies operating in the soil testing equipment market are adopting new technologies to sustain their position in the market.
For instance, in August 2022, Precision Planting, a US-based agricultural service provider, launched a cloud-based system called Radicle Agronomics.It includes a self-calibration technology running on Radicle Lab and a fully automated soil sample tagging machine, GeoPress™.
With this, an agronomist can provide enhanced soil nutrient management advice to their clients by utilizing a cloud-based software solution that integrates every stage of the field-to-lab process.Radicle Lab™ is the first wholly automated soil laboratory with self-calibration technology and the capacity to run hundreds of samples unattended.
Radicle Lab™ breakthrough, patent-pending MicroflowTM technology eliminates all human interactions during the standard laboratory process, allowing agronomists to produce a precision soil analysis in minutes without lifting a finger.
In March 2021, Matrix Sciences Inc., a US-based AgroScience company, acquired AgroLab Inc. for an undisclosed amount. This acquisition helps Matrix Sciences Inc. expand its services, such as soil testing, pesticide testing, and others. AgroLab Inc. is a US-based provider of agricultural analysis and a complete spectrum of tests, from soil to feed to seed.
The countries covered in the soil testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The soil testing equipment market research report is one of a series of new reports that provides soil testing equipment market statistics, including soil testing equipment industry global market size, regional shares, competitors with a soil testing equipment market share, detailed soil testing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the soil testing equipment industry. This soil testing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466534/?utm_source=GNW
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