LONDON — (BUSINESS WIRE) — December 12, 2017 — The global total station marketis expected to grow at a CAGR of nearly 7% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global total station market 2017-2021 under their heavy industry library. (Graphic: Business Wire)
Global total station market segmentation by end-user and product
Technavio’s report on the global total station market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user, which includes construction, transportation, utilities, mining, oil and gas, and agriculture. The transportation sector in the global total station market is expected to register the highest growth rate during the forecast period. The key factors propelling the market are increasing urbanization, rising demand for mobility-driven infrastructure, and growth in construction investments in various countries.
Based on product, the global total station market has been segmented into manual total stations and robotic total stations. As of 2016, 67% of the market share came from robotic total stations.
“Robotic total stations are the most preferred type of total stations by surveyors while measuring or surveying land on a large scale. They play a key role in the construction of railways, tunnels, bridges, dams, and other huge construction projects. Factors like growing population, urbanization, rapid industrialization, steady economic growth, and rising investments in infrastructure by governments are expected to spur the demand for robotic total stations during the forecast period,” says Neelesh Prakash Singh, a lead analyst at Technavio for engineering tools research.
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Total station market: competitive vendor landscape
The global total station market is a partially fragmented market with the presence of established vendors. The total station manufacturers mainly focus on adopting strategies, such as product launches, expansions, and strategic acquisitions, to sustain the market competition. Vendors in the global total station market are focusing on developing innovative and advanced solutions. Product innovations by leading players help in sustaining their market share. GENEQ, Leica Geosystems, TOPCON, and Trimble are the key vendors in the global total station market.
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Other topics covered in the report:
Market drivers:
- Rising investments in construction sector
- Increasing investments in oil and gas refineries
Market challenges:
- High cost of equipment
- Slow growth in mining and exploration activities
Market trends:
- Advances in technology
- Increasing utilization of total stations in designing process
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