The global Soil Testing Equipment Market size was US$ 3.1 billion in 2020. The global soil testing equipment market is forecast to reach US$ 8.4 billion by 2030 growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2021-2030.
Soil testing equipment is used to identify the amount of fertilizer and acidic content in the soil. Soil testing promotes plant growth by detecting the acid content of the soil and offering fertilizer recommendations. Moreover, the moisture content and relative density of the soil are determined using soil testing equipment.
Factors Influencing
The introduction of advanced soil testing equipment would flourish the growth of the global soil testing equipment market during the analysis period. Various companies have been innovating favorable solutions for the last few years. Ele International, a leading player in the global soil testing equipment market, introduced advanced software for the soil testing equipment. The software was designed to contribute to the research and analytics of the geotechnical laboratories. It also helped improve the quality of permeability, consolidation, and triaxial soil tests.
The wide applications of soil testing equipment are driving the growth of the global soil testing equipment market. Soil testing equipment is used in the construction and agriculture sector for a variety of purposes. Prior to planning pavements, embankments, highways, and other constructions, this equipment is used to study soil conditions and gather essential information on soil mechanics. The bearing ratio soil testing equipment in California helps measure the strength of the soil as well as other soil qualities like moisture content, strength, and durability. The dynamic cone penetrometer helps measure soil shear strength up to 6 feet deep. Thus, such benefits would boost the growth of the global soil testing equipment market during the analysis period.
High equipment costs may slow down the growth of the global soil testing equipment market.
COVID-19 Impact Analysis
Due to the government shutdown and poor demand from the construction and agriculture industries, demand for soil testing equipment declined in 2020. The COVID-19 pandemic has halted the production of several soil test equipment items. It has significantly slowed the growth of soil testing equipment in recent months, and this trend is likely to continue throughout 2020. COVID-19 has already had an impact on equipment and machinery sales in the first quarter of 2020, and it is projected to have a negative influence on company development throughout the year.
Regional Analysis
North America, followed by the Asia Pacific, is predicted to contribute with the significant growth. The United States is the most important market in the North American region. The main drivers of the market are the existence of leading players, high budgets for environmental protection, and a rise in organic farming. The Asia Pacific is expected to grow at a notable CAGR, with several countries presenting the highest potential prospects in this field. Agriculturists in China are looking for contemporary farming practices to ensure the long-term development of agricultural harvests.
Competitors in the Market
Market Segmentation
Based on Type of Test
Based on End User:
Based on Degree of Automation
Based on Site:
Based on Region
