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Surveying Equipment Market size is set to grow by USD 2.72 billion from 2024-2028, Growth in railway sector in APAC to boost the market growth, Technavio

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NEW YORK, July 16, 2024 /PRNewswire/ — The global surveying equipment market  size is estimated to grow by USD 2.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.46%  during the forecast period.  Growth in railway sector in APAC is driving market growth, with a trend towards growth in UAV market. However, uncertain macroeconomic conditions  poses a challenge. Key market players include Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, RTX Corp., Robert Bosch GmbH, Seafloor Systems Inc., Shanghai Huace Navigation Technology Ltd., South Surveying and Mapping Instruments Co. Ltd., SURVEY COPTER, Target Corp., Teledyne Technologies Inc., Thales Group, Topcon Positioning Systems Inc., Trimble Inc., Turner Morris, and Valeport Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Land application and Hydrographic application), Product (Total stations and theodolites levels, GNSS system, UAV, Pipe lasers, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

Aparna Agencies, FARO Technologies Inc., Guangdong Kolida Instrument Co. Ltd., Hexagon AB, Kongsberg Gruppen ASA, Ohmex Ltd., PASI srl, RTX Corp., Robert Bosch GmbH, Seafloor Systems Inc., Shanghai Huace Navigation Technology Ltd., South Surveying and Mapping Instruments Co. Ltd., SURVEY COPTER, Target Corp., Teledyne Technologies Inc., Thales Group, Topcon Positioning Systems Inc., Trimble Inc., Turner Morris, and Valeport Ltd.

Key Market Trends Fueling Growth

The global surveying equipment market is poised for significant growth due to the increasing adoption of unmanned aerial vehicles (UAVs) for civil applications. UAVs offer numerous advantages, such as rapid, cost-effective, and automated geospatial data acquisition in small and medium-sized areas. Both photography and topographic data can be generated, making UAVs an ideal solution for surveying hazardous or difficult-to-reach areas without human intervention. The US, a world leader in drone technology, is investing extensively in research and development to create the latest drone technology. The US military’s extensive experience with drones has led to the introduction of programs like UCLASS UAV for carrier-borne drone capability and research into stealth drones, high-altitude surveillance drones, and other advanced drone technologies. Israel and China are also investing heavily in drone production. Israel is producing UAVs for key roles within a broader surveillance-strike complex, while China has allowed numerous companies, both state-owned defense enterprises and private suppliers, to produce and develop UAVs. This has resulted in a diverse range of drone options for these governments, suitable for military and counter-terror operations. Therefore, the increasing use of UAVs in surveying, the US’s and Israel’s technological advancements, and China’s investment in drone production are expected to drive the growth of the global surveying equipment market during the forecast period. 

The Surveying Equipment Market is experiencing significant growth due to trends in GPS/GNSS technology, urbanization, transportation networks, renewable energy projects, and automation and robotics. Hardware, software, and services are key areas of focus, with GPS systems, total stations, theodolites, levels, and UAVs leading the charge. Urbanization and industrialization require advanced technology for data collection and processing, leading to increased demand for skilled workforce and technical knowledge. UAVs, LiDAR systems, and drones are revolutionizing data collection and management in industries like mining & construction, oil & gas, and disaster management. Cutting-edge technology includes visual SLAM technology, digital twin creation, and integrated smart antennas. The transportation sector relies on GNSS network solutions and time-saving processes. Renewable energy projects and smart cities require advanced software for data processing and documentation. The market also caters to specialized industries like nuclear facilities and research and planning. Modular GNSS systems, board-level GNSS receivers, and antennas are essential components of survey equipment portfolios. The future of surveying equipment lies in automation, data management, and advanced technology. 

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Market Challenges

The construction industry’s growth is influenced by economic conditions, both nationally and regionally. The US and global economies have experienced moderate to slow growth and significant volatility, negatively impacting the industry. Economic uncertainty may cause customers to delay spending due to tighter credit, income declines, or negative financial news. Non-residential real estate markets, labor and healthcare costs, access to credit, and other macroeconomic factors also affect construction demand. Delayed or canceled projects due to depressed foreign direct investments and delayed government subsidies are expected to hinder market growth during the forecast period.The Surveying Equipment Market faces challenges in various industries such as nuclear facilities and construction. The integration of cutting-edge technology like GNSS systems, total stations, theodolites, and unmanned aerial vehicles (UAVs or drones) is crucial for efficient data collection and processing. The oil & gas industry and disaster management sector heavily rely on surveying equipment for exploration drilling, pipeline management, and volumetric calculations. Advanced software and management systems aid in research and planning, data management, documentation, and inspection. Industrialization leads to an increased demand for time-saving processes and skilled manpower. LiDAR systems and aerial platforms offer solutions for complex land survey methods. GNSS network solutions, integrated smart antennas, and modular GNSS systems ensure accurate reference stations. The agriculture, mining, and mining software industries also benefit from surveying equipment for layout points and exploration.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This surveying equipment market report extensively covers market segmentation by

Application 1.1 Land application1.2 Hydrographic applicationProduct 2.1 Total stations and theodolites levels2.2 GNSS system2.3 UAV2.4 Pipe lasers2.5 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Land application-  The global surveying equipment market is experiencing significant growth due to increasing investments in infrastructure projects, particularly in the construction of bridges, highways, roads, and expressways in countries like the US, Chile, Brazil, China, India, and other emerging Asian economies. The expansion of high-speed rail networks in China and Europe, as well as in North America, is a major driver of this growth. In Europe, there is a strong demand to connect various regions, while in North America, Mexico, the US, and Canada are investing in high-speed rail to alleviate traffic congestion. These infrastructure developments will require advanced surveying equipment to ensure accuracy and efficiency, leading to the market’s continued expansion during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global retail automation market is experiencing rapid growth driven by the demand for enhanced customer experiences and operational efficiency. Automation technologies such as AI, robotics, and IoT are transforming traditional retail processes, including inventory management, checkout systems, and customer service, leading to reduced costs and improved service delivery.

The global online survey software market is expanding due to increasing adoption by businesses for gathering customer feedback, market research, and employee engagement. Key trends include mobile compatibility, advanced analytics, and integration with CRM systems. These platforms enable organizations to streamline data collection, gain actionable insights, and make informed decisions swiftly and efficiently.

Research Analysis

The Surveying Equipment Market is experiencing significant growth due to various factors, including the increasing use of GPS/GNSS technology in land surveying, urbanization, and the development of transportation networks. Renewable energy projects also contribute to the market’s expansion, as advanced technology and automation through robotics and drones are essential for data collection in these sectors. The market requires a skilled workforce with technical knowledge to operate the complex land survey equipment, such as total stations, theodolites, levels, and GNSS systems. The oil & gas industry and industrialization are other major drivers, with time-saving processes and data collection being key benefits. The market is also witnessing the integration of software solutions to enhance the functionality and efficiency of surveying equipment.

Market Research Overview

The Surveying Equipment Market is experiencing significant growth due to various factors, including the increasing urbanization and transportation networks development, renewable energy projects, and the need for automation and robotics in the industry. The market is driven by advanced technology such as GPS/GNSS technology, which enables time-saving processes and high-precision data collection. The market also includes hardware, software, and services, with UAVs, total stations & theodolites, levels, and LiDAR systems being popular equipment types. The market caters to various industries, including mining & construction, smart cities, nuclear facilities, oil & gas industry, disaster management, and industrialization. The use of cutting-edge technology, such as digital twin creation, visual SLAM technology, and advanced software, is becoming increasingly common. The market also offers solutions for data processing, documentation, and management systems for research and planning. The market requires a skilled workforce with technical knowledge and expertise in various survey methods, such as GNSS network solutions, integrated smart antennas, modular GNSS systems, and board-level GNSS receivers. The market also includes reference stations, inspection, monitoring, volumetric calculations, layout points, and construction software for agriculture, mining, and oil & gas industries. Exploration drilling and pipeline management are also significant applications for surveying equipment.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationLand ApplicationHydrographic ApplicationProductTotal Stations And Theodolites LevelsGNSS SystemUAVPipe LasersOthersGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Changan LCV Unveils New Brand Strategy, Paving the Way for a New Era of Digital Intelligent New Energy Commercial Vehicle Technology

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November 17, 2024

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GUANGZHOU, China, Nov. 17, 2024 /PRNewswire/ — On November 15, Changan LCV held its brand strategy launch event, accelerating its transformation into a digital intelligent new energy commercial vehicle technology brand, aiming to become a world-class vehicle brand.

At the event, Changan LCV unveiled its first native digital intelligent new energy commercial vehicle architecture—K01  which leverages technological advantages such as ” Up-down decoupling, software and hardware separation, creating vehicle-cloud integration,” offering users three new key benefits: “smart technology, ultimate efficiency, and fast service.”

Compared to traditional architectures, the K01 platform shortens the vehicle development cycle by one year, reduces energy costs by 80%, and lowers operational costs. The platform increases vehicle production efficiency by 30%, while the low-floor design and compact layout maximize cargo volume. The “Golden Shield” battery can be fast-charged in 15 minutes to provide a range of over 200 kilometers. Its modular design is flexible and customizable, with a skateboard chassis that can accommodate various vehicle types, including light passenger car, trucks, and pickups. The K01 platform is open to the industry, promoting collaborative development and mutually beneficial opportunities for the entire value chain.

Looking to the future, Changan LCV aims to lead China’s commercial vehicle market and become a global top-five player by 2030, collaborating with users to drive the future for the ” digital intelligent new energy commercial vehicle technology brand.”

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/changan-lcv-unveils-new-brand-strategy-paving-the-way-for-a-new-era-of-digital-intelligent-new-energy-commercial-vehicle-technology-302306911.html

SOURCE Changan LCV

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CGTN: Starting a new era in Asia-Pacific development amid global uncertainty

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9 hours ago

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November 17, 2024

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BEIJING, Nov. 16, 2024 /CNW/ — Over the decades, the Asia-Pacific region has been a vital driver of global economic growth. In October, the International Monetary Fund predicted the region would contribute approximately 60 percent to global economic growth in 2024.

At the same time, Asia-Pacific cooperation is confronted with challenges such as rising tendencies of geopolitics, unilateralism and protectionism. In this regard, Chinese President Xi Jinping on Saturday called on leaders of Asia-Pacific Economic Cooperation (APEC) members to shoulder greater responsibilities.

“We must act in solidarity and cooperation to meet the challenges, fully deliver on the Putrajaya Vision 2040, build an Asia-Pacific community with a shared future, and start a new era in Asia-Pacific development,” said Xi, when attending the 31st APEC Economic Leaders’ Meeting in Peru’s capital Lima.

China’s proposal

To deepen Asia-Pacific cooperation, the Chinese president on Saturday made three proposals.

Firstly, Xi stressed the need to build an open and interconnected paradigm for Asia-Pacific cooperation, calling for staying committed to multilateralism and an open economy.

China has made great efforts towards an open Asia-Pacific economy. According to the Chinese Foreign Ministry, China is the largest trading partner of 13 APEC economies and has actively advanced the building of the China-ASEAN Free Trade Area, promoted high-quality implementation of the Regional Comprehensive Economic Partnership (RCEP), and applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement.

Secondly, Xi emphasized the need to make green innovation a catalyst for the Asia-Pacific, saying APEC economies should push forward coordinated digital and green transformation and development to create new momentum and new drivers for Asia-Pacific development.

China is developing new quality productive forces in light of actual conditions and deepening cooperation with interested parties on green innovation. Xi announced on Saturday that China will launch a Global Cross-Border Data Flow Cooperation Initiative.

China has put forward initiatives for cooperation between APEC member economies in green agriculture, sustainable city development, green and low-carbon energy transition, and marine pollution control and prevention.

The Chinese president also urged efforts to uphold a universally beneficial and inclusive vision for Asia-Pacific development. The data unveiled by the Chinese Foreign Ministry showed China contributes 64.2 percent of the region’s economic growth, 37.6 percent of the growth in goods trade, and 44.6 percent of the growth in services trade.

Xi told APEC leaders that China will advance initiatives through the APEC platform on increasing residents’ income and promoting the industrial cluster development of small- and medium-sized enterprises, for the purpose of bringing about universally beneficial and inclusive development of Asia-Pacific economies.

China’s commitments

China will host the APEC Economic Leaders’ Meeting in 2026, Xi announced on Saturday, saying China welcomes all parties to continue riding the “express train” of its development and grow together with the Chinese economy.

The Chinese president reiterated China’s commitments to reform and opening up. “Reform and opening up is a historic process in which China and the world achieve development and progress together,” he said.

The 20th Central Committee of the Communist Party of China, at its third plenum in July, laid out systematic plans for further deepening reform across the board with more than 300 consequential reform measures being unveiled, pertaining to building a high-standard socialist market economy, advancing high-quality economic development, promoting high-standard opening up, improving the people’s quality of life, and building a beautiful country.

In his written speech at the APEC CEO Summit on Friday, Xi also said China will introduce more policies for voluntary and unilateral opening up, expand its globally-oriented network of high-standard free trade areas, and open its door even wider to the world.

https://news.cgtn.com/news/2024-11-17/Starting-a-new-era-in-Asia-Pacific-development-amid-global-uncertainty-1yAvmNr7lYc/p.html 

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SOURCE CGTN

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CGTN: How does Chancay Port light up Asia-Pacific cooperation?

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9 hours ago

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November 17, 2024

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BEIJING, Nov. 16, 2024 /CNW/ — From the arrival of the first ship at Chancay Port to its official inauguration, the port has gained global attention in recent days, boosting confidence in the prospects of more open and inclusive Asia-Pacific economic development.

The port, a cooperative project between Peru and China under the Belt and Road Initiative (BRI), will reduce sea shipping time from Peru to China to 23 days, cutting logistics costs by at least 20 percent. It is expected to generate $4.5 billion in annual revenue for Peru and create over 8,000 direct jobs. The port, capable of accommodating ultra-large container ships with a capacity of 18,000 twenty-foot equivalent units (TEUs), has a designed annual throughput capacity of 1 million TEUs in the near term and 1.5 million TEUs in the long term, positioning it as a key hub for trade between Latin America and Asia.

Noting that the port connects Chancay and Shanghai, Chinese President Xi Jinping remarked that “what we are witnessing is not only the root and blossom of the BRI in Peru but also the birth of a new gateway that connects land and sea, Asia and Latin America” during his address via video link at the port’s inauguration ceremony.

Peruvian officials: ‘More job opportunities and economic growth’ brought to Peru

Senior Peruvian officials and ordinary citizens have said they are looking forward to benefiting from the first smart and green port in South America.

Prime Minister of Peru Gustavo Adrianzen said that cooperation between China and Peru, including the Chancay Port project and other fields, will bring more job opportunities and economic growth to Peru, improving people’s living standards.

Jose Tam, president of the Chinese-Peruvian Chamber of Commerce, talked about the significance of Peru’s Chancay megaport with CGTN, saying the port will be an “engine” for the local economy.

Juan Carlos Capunay, former executive director of the APEC Secretariat and former Peruvian ambassador to China, also stated that the port will play an important role in deepening bilateral relations and fostering practical cooperation between China and Peru.

Entrepreneur Cielo Augusto from Chancay said he is looking forward to building the first levels of business while noting that industries such as hospitality will also be boosted, as there will be a significant influx of people from abroad.

“The port will save time, increase efficiency and bring new opportunities to Peru,” Karla Santuyomarca, a Peruvian citizen, told CGTN.

Some 78.3 percent of respondents to a CGTN survey of Peruvians said they support their country’s participation in the BRI, which includes Chancay Port. Additionally, 93.6 percent of respondents expressed support for deepening practical cooperation in various fields between China, Peru and other Latin American countries.

Open, interconnected Asia-Pacific cooperation

With its official opening on Thursday, Chancay Port is expected to integrate the entire Latin American region into the dynamic economic framework of the Asia-Pacific, greatly enhancing connectivity within and beyond the continent.

Peruvian Foreign Minister Elmer Schialer Salcedo said, “The Pacific Ocean does not separate us, but it connects us,” adding that Chancay Port will halve the time and costs of connecting South America with Asia.

Carlos Aquino Aquino Rodriguez, professor of Asian economies at San Marcos National University, said the port is crucial to the economic development and connectivity of the Asia-Pacific and can also promote mutual benefits for raw material buyers, suppliers of manufactured goods and investors.

In a CGTN global poll on Asia-Pacific cooperation, 93.7 percent of respondents called on all parties in the region to forge consensus and build an Asia-Pacific community with a shared future featuring openness and inclusiveness, innovative growth, connectivity and win-win cooperation.

https://news.cgtn.com/news/2024-11-17/How-does-Chancay-Port-light-up-Asia-Pacific-cooperation–1yAAAYcaP28/p.html

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SOURCE CGTN

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