The global soil testing equipment market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global soil testing equipment market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the rising number of construction projects. Before commencing construction work, engineers need to analyze the design parameters of the structure planned to be built. Soil testing equipment help determine the ability of the soil to support the structure and enable to finalize the necessary plans. Hence, an increase in the number of construction projects will lead to more soil testing activities and enhance sales of soil testing equipment. The growth of the urban population is one of the factors fueling the growth of construction projects. Therefore, the increasing number of construction projects will offer opportunities to vendors for offering new units of soil testing equipment, which will benefit the market under review during the forecast period.
As per Technavio, the growing popularity of automatic soil testing equipment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global soil testing equipment marketresearch report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global soil testing equipment market: The growing popularity of automatic soil testing equipment
Automatic soil testing equipment can be used to measure temperature, humidity, moisture, and to determine soil fertility. The common practice of conducting soil tests is by collecting samples and testing them in laboratories. Soil testing in labs requires time for obtaining the results. Therefore, end-users do not get prompt updates in terms of soil quality. Time issues related to soil testing are expected to enhance demand for automated soil testing equipment for getting quick results. Therefore, automatic soil testing equipment helps farmers to select the ideal crop and the volume of fertilizers needed for optimum yield. It also helps in reducing possible human errors and obtaining quick soil analysis. Thus, the growing popularity of automatic soil testing equipment will promote market growth during the forecast period.
"Apart from the growing popularity of automatic soil testing equipment, the growing emphasis on mobile soil testing is another major factor that is boosting the growth of the market. Soil testing activities recommend remedial actions in agricultural fields to enhance soil nutrient levels. Farmers prefer soil testing methods that provide added benefits in terms of convenience and quicker results. Mobile soil testing laboratories are equipped with the necessary analytical tools such as spectrophotometers, flame photometers, and pH meters to carry out soil testing. They also recommend the steps needed to increase soil nutrient capacities. So, the growing farmers' emphasis on mobile soil testing laboratories may increase the number of such laboratories and thereby increase the sales of soil testing equipment during the forecast period," says a senior analyst at Technavio.
Global soil testing equipment market: Segmentation analysis
This market research report segments the global soil testing equipment market by application (construction industry and agriculture industry) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the increasing construction activities in the region.
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