The Total Station Market is expected to grow at USD 2.15 Billion by 2023, at 7% of CAGR between 2017 and 2023.
The Global Total Station Market is projected to grow at a CAGR of 7%. The market is estimated to expand up to USD 2.15 Billion during the forecast period 2017-2023. The Total Station is an electronic instrument that is used to measure the sloping distance. It is mainly used in the construction industry. To measure the distance, instruments such as Electro Distance Meter EDM) and Electronic Theodolite are used. Hence, it is used to conduct a survey for properties such as houses, roads, buildings, etc.
The total devices have various advantages such as reducing errors, enhanced accuracy, high functionality, and many more. It is used for data processing, coordinate measurement, distance measurement, etc. Thus, due to the growing demand for accurate and fast measurements, the Total Station Market Industry is growing at a substantial rate. There are other factors such as the use of these instruments in the accident reconstruction, investigation of the crime scene, etc. will fuel the market growth.
Therefore, the Total Station Market Industry has a great potential to flourish during the forecast period. As per the forecast, the Asia-Pacific region will hold the largest share in the market. Mainly, countries such as China, India, Taiwan, and others are propelling the growth. Even North America will hold substantial growth during the forecast period. Also, the major key players across the world are propelling the market.
Total Stations Market COVID-19 Analysis:
The coronavirus or COVID-19 disease harmed the market. Various factors such as lockdown, social distancing, and emphasis on the healthcare facilities affected the global economy. The construction activities were halted for several months. Other costs such as transportation, raw materials, and labours increased. As a result, many small business organizers faced huge losses. However, with the ease of lockdown, the market is regaining its strength. It is estimated that if the COVID-19 is controlled, the growth of the Total Station Market Industry will increase simultaneously.
The growing demand for accurate and fast measurements for the land survey will fuel the Total Stations Market Growth. Along with that, the increasing rate of development and urbanization in various countries is also a major factor. Due to the increased construction of buildings, roads, bridges, etc., the Total Stations Market Revenue will have robust growth. Furthermore, the investments by the key players will drive the market during the forecast period.
Some of the restraints are projected to restrict the growth of Total Stations Market Revenue in the upcoming period. The high costs of the instruments are other products for the measurements that will hamper the market growth. Also, the low- availability of skilled labours will also hamper the market of Total Stations.
Many opportunities will provide various advantages for the growth of the Global Total Station Market. Features such as high accuracy, accessibility of data through real-time, low errors will lead the market to substantial growth. Also, the manufacturing companies are setting up new Total Stations that will boost the market exponentially.
One of the major challenges for the Total Stations Market Growth is the growing demand for GPS. Also, the use of laser scanning for land surveying can hamper market growth. Hence, the easy availability of other alternatives such as laser scanning and GPS will be a major challenge for the growth. Furthermore, the higher costs of the instruments can slow the growth during the forecast period.
Total Stations Market Cumulative Analysis:
According to the Total Station Market Forecast, the market will expand up to USD 2 Billion during the forecast period 2017-2023. The Compound Annual Growth Rate (CAGR) of the Total Station Market is 7%. The growing demand for modern solutions for measurements is fuelling the market growth. Also, the investments by key players and the growing rate of urbanization will have a positive effect on the market.
Value Chain Analysis:
With the growing rate of urbanization and the demand for fast and accurate measurements, the value of Total Stations will rise. Also, the development of robotic stations will open new scope for growth. Hence, the Total Station Market Analysis suggests that the innovation and investments by key players will further enhance the value chain of Total Stations.
Total Stations Market Segmentations:
The market segments of the Total Station Market are divided into type, offering, and application.
On the basis of application, the Total Station Market Industry is divided into Transportation, Gas and Oil, Agriculture, Mining, Construction, and others.
On the basis of offering, the Total Station Market Industry is divided into Services and Hardware. The Hardware sub-segment is again segmented into Electronic Theodolite, Storage Units, EDM (Electronic Distance Measurement), Display Devices, Microprocessor, and others
On the basis of type, the Total Station Market Industry is segmented into Manual Robotic Station and Robotic Total Station.
Total Stations Market Regional Analysis:
On the basis of region, the Total Station Market Industry is divided into North America, Europe, Asia-Pacific, and the Rest of the World. As per the Total Station Market Forecast, the Asia-Pacific region will contribute with the largest market share during the forecast period.
In the Asia-Pacific region, countries such as India, China, Korea, Taiwan, and others are providing immense growth opportunities. The presence of key players and the growth rate of development is a major factor for the growth of the Total Station Market Industry. The increasing investments in the engineering and construction industry in this region are also fuelling the market.
Other than that, the North American region will also have significant growth during the forecast period. The increasing transportation and better availability of skilled professions in major countries such as Canada and the US will push the market towards growth. Also, the key players are focusing on research and development and cost-effective techniques that will boost the market in the forecast period.
Total Stations Market Competitive Landscape:
There are various key players in the Total Station Market Industry. With market techniques such as acquisition, mergers, partnerships, new ventures, product launches, etc. the key players are expanding their business portfolio.
These are the key players of the Total Station Market Industry-
The Report Overview of the Robotic Total Station Market is as follows-
Total Stations Market Report Score and Segmentation:
The report score of the Total Station Market Industry covers important information about drivers, challenges, opportunities, etc. It also highlights the information about the key players and the recent developments in past recent years. Hence, the market will have substantial growth during the forecast period. The report is completed by gathering information about the secondary and primary sources.
Total Stations Market Segmentation:
|Market Size||USD 2 Billion (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Offering, By Type, By Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Changzhou Dadi Surveying Science & Technology Co. (China), Suzhou FOIF Co. (China), Hexagon (Sweden), Survey Instruments Services (Singapore), Hi-Target Surveying Instrument Co. (China), Guangdong Kolida Instrument Co. (China), Maple International Instrument (US), North Group (Spain), Trimble (U.S.), Topcon Corporation (Japan), Kara Company (U.S.), Axis- GPS and Surveying Instruments (Israel), Kwipped (U.S.), Celtic Surveys (Ireland)|
|Key Market Opportunities||The rise in investments in construction sector like, highways, buildings, bridges are fuelling the growth of the global market for total stations.|
|Key Market Drivers||The rapid urbanization leading to increased mobility infrastructure, offering accuracy and sustained performance in construction projects is driving the market growth|
The global total stations market is expected to record a substantial market valuation of up to USD 2.15 billion by 2023.
The global total stations market is projected to register a moderate 7% CAGR in the forecast period.
The robotic total station segment is slated to expand as the fastest-growing segment.
The hardware segment is expected to witness substantial growth.
A few major market players operating in the global total stations market are Kara Company (U.S.), Axis- GPS and Surveying Instruments (Israel), Topcon Corporation (Japan), Kwipped (U.S.), Celtic Surveys (Ireland) and others.