Increasing sustainable agriculture intensification, rising need for soil sampling for precision agriculture, and increasing number of construction activities worldwide are key factors expected to fuel revenue growth of the market
New York, New York--(Newsfile Corp. - April 19, 2021) - The global soil testing equipment market size is expected to reach USD 8.57 Billion in 2028 at a CAGR of 11.2%, according to the latest report by Reports and Data. Rapid increase in number of construction activities across the globe has boosted demand for soil testing equipment as it helps in determining if the soil has the necessary characteristics to support proposed infrastructure and this is a key factor expected to drive market revenue growth over the forecast period. Increasing adoption of precision agriculture practices to maximize crop yield, minimize initial costs, and improve time-efficiency is expected to further fuel revenue growth of the market over the forecast period.
Market Size - USD 3.66 Billion in 2020, Market Growth - at a CAGR of 11.2%, Market Trends - Increasing adoption of precision agriculture practices to maximize crop yield and increasing infrastructure development
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Soil testing equipment offers data about quality and behavior of soil, such as its shear strength and bearing capacity, which plays an important role in constructions and buildings as it helps engineers and builders deploy appropriate or ideal materials, foundations, and design parameters for roads, dams, buildings, and other proposed infrastructure. Soil testing equipment is used to perform several tests such as gravity test, moisture test, and dry density test, and the results are important in the construction industry as it can directly impact foundation systems. In the agriculture sector, soil testing equipment offers important information on fertility and nutrient content of soil, moisture levels, composition, acidity and pH balance, and other key factors crucial for farming. It also allows farmers to create separate sites for specific crops and to design a site-specific approach to enhance yield and profitability.
Major companies operating in the market are engaged in developing more cost-efficient and time-efficient soil testing equipment to cater to growing demand from the agricultural sector and this is expected to further boost revenue growth of the market over the forecast period. However, lack of training, high costs of equipment, and increasing reluctance to accept modern farming technologies and equipment are some other factors expected to restrain market growth to a significant extent over the forecast period.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/soil-testing-equipment-market.
Some Key Highlights From the Report:
Residual test segment is expected to account for largest revenue share in the global market during the forecast period, attributable to increasing awareness among consumers and farmers regarding presence of toxic chemical residues of pesticides and fertilizers on fruits and vegetables.
Automatic segment is expected to register significant revenue growth over the forecast period owing to increasing need for more accurate test results, efficient farm management platforms, and increasing adoption of precision farming.
On-site segment revenue is expected to expand considerably over the forecast period owing to increasing construction and building activities that require on-site soil tests.
Construction industry segment is expected to account for largest share in the global market in terms of revenue, which is attributable to increasing construction activities worldwide, rapid growth of construction sector in emerging economies, and increasing investment to improve infrastructure development in developing countries.
Asia Pacific is expected to account for around 38% revenue share in the global market over the forecast period owing to rapid adoption of modern farming practices, increasing construction and building activities, and increasing funding for adoption of smart and precision agriculture practices.
In March 2021, Ag-Analytics and Deveron Corporation announced a strategic partnership to offer comprehensive soil testing and fertility recommendation service to farmers that cover soil testing processes; from soil sample collection to analysis and nutrient management recommendations. The service aims to offer more time-efficient and cost-efficient soil testing solutions to farmers.
Major players in the market include:
Agilent Technologies (US)
Thermo Fisher Scientific Inc.
Geotechnical Testing Equipment UK Ltd.
Sun Labtek Equipments (I) Pvt. Ltd.
Martin Lishman Ltd.
Humboldt Mfg. Co.
Alfa Testing Equipment
M&L Testing Equipment
For the purpose of this report, Reports and Data has segmented the global soil testing equipment market based on type of tests, degree of automation, site, end-use industry, and region:
Type of Tests Outlook (Revenue, USD Billion; 2018-2028)
Shear strength equipment
Salinity testing equipment
Test kits & reagents
Degree of Automation Outlook (Revenue, USD Billion; 2018-2028)
Site Outlook (Revenue, USD Billion; 2018-2028)
End-use Industry Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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