Dublin, Jan. 7, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/wkptlt/survey_equipment) has announced the addition of the "Survey Equipment Market by Type , Application - Global Forecast & Analysis to 2014 - 2020" report to their offering.
The global survey equipment market has been broadly classified into land survey equipment and hydro survey equipment markets. The hydro survey equipment market is estimated to account for the larger share of the global survey equipment market during the forecast period owing to the high costs associated with procurement of the equipment.
However, the land survey equipment market is expected to grow at a higher CAGR of 7.30% in the next six years, owing to low costs associated with equipment procurement in large volumes. Also, with an expected $1.7 trillion construction industry, the land survey equipment market is estimated to achieve a very substantial growth in the future.
Both, the land survey and hydro survey equipment markets are further segmented on the basis of product type and application.
The global survey equipment market is estimated to grow at a CAGR of 6.49% from 2014 to 2020.
A number of factors including increasing construction and railroads, oil & gas surveys, port & harbor management, and so on are driving the growth of the global survey equipment market. However, costs associated with equipment calibration and maintenance on a frequent basis is a key constraint faced by market players.
On the basis of geography, this market is classified into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2014, the global land survey equipment market is estimated to be dominated by North America and the global hydro survey equipment market is expected to be dominated by Europe.
A number of factors such as recovery from the economic recession have led to a growth in the civil & construction market in the North American countries. However, the Asia-Pacific market is expected to grow at a high CAGR from 2014 to 2020 due to factors such as rapid urbanization that demand high levels of infrastructure development and a rise in oil & gas surveys. The current size of the oil & gas industry is estimated to be $5 trillion and a majority of the demand is derived from emerging markets such as BRIC nations (Brazil, Russia, India, and China).
The charting application for hydro survey equipment captures a major market share in the global hydro survey equipment market, owing to constant on-going ocean mapping activities across the world. These activities require heavy expenditure on developing nautical charts for mariners globally in order to explore uncontested waters and boost maritime commerce. The hydro graphic charting application segment is expected to grow at a CAGR of 5.74% during the forecast period.
New product launches and product approvals are the key strategies adopted by the major players to develop their position in the global survey equipment market. Moreover, strategies such as partnerships, agreements, collaborations, joint ventures, and acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and to expand their geographic presence.
Hexagon AB. (Sweden), Trimble Navigation Ltd. (U.S.), FARO Technologies Inc. (U.S.), Topcon Corporation (Japan), Kongsberg Gruppen ASA (Norway), Teledyne Technologies, Inc. (U.S.), Thales Group (France), and Raytheon Company (U.S.) are the major players in the global survey equipment market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hydro Survey Equipment Market Analysis, By Type
8 Hydro Survey Equipment Market Analysis, By Application
9 Land Survey Equipment Market Analysis, By Type
10 Land Survey Equipment Market Analysis, By Application
11 Survey Equipment Market Analysis, By Services
12 Survey Equipment Market Analysis, By Region
13 Competitive Landscape
14 Company Profiles
- Atlas Elektronik Gmbh
- Faro Technologies, Inc.
- Hexagon Ab
- Kongsberg Gruppen Asa
- Nikon-Trimble Co., Ltd.
- Ohmex Ltd.
- Raytheon Company
- Seafloor Systems, Inc.
- Teledyne Technologies, Inc.
- Thales Group
- Topcon Corporation
- Trimble Navigation Limited
- Valeport Ltd.
For more information visit http://www.researchandmarkets.com/research/wkptlt/survey_equipment
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Source:Research and Markets