The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

Current Market Overview

• Market size in 2023: $4.66 billion
• Expected growth in 2024: $5.24 billion
• CAGR (2023-2024): 12.3%
• Growth drivers:
  • Increasing agricultural activities
  • Government initiatives and regulations
  • Awareness about soil health
  • Global food security concerns
  • Farm consolidation and size increase

 

Future Market Projections

• Expected market size in 2028: $7.95 billion
• CAGR (2024-2028): 11.0%
• Growth drivers:
  • Emphasis on precision agriculture
  • Climate change adaptation
  • Popularity of sustainable agriculture
  • Government support and subsidies
  • Expanding agricultural export markets

 

View More On The Soil Testing Equipment Market Report 2024 – https://www.thebusinessresearchcompany.com/report/soil-testing-equipment-global-market-report

 

Major Trends in the Forecast Period

• Focus on cost-effective solutions
• Market consolidation and partnerships
• Global food security concerns
• Demand for sustainable agriculture
• Data-driven decision-making

 

Construction Boom Fuels Market Growth

Impact on Market Expansion

• Rise in construction activities driving market growth
• Soil testing’s role in construction:
  • Evaluating soil’s technical and physical properties
  • Determining carrying capacity and foundation selection
• Example: 4% increase in housing units built in 2021
• Notable companies:
  • Controls S.p.A.
  • ELE International
  • Gilson Company Inc.
  • Thermo Fisher Scientific Inc.
  • Agilent Technologies Inc.

 

Key Industry Players

• PerkinElmer Inc.
• Merck KGaA
• LaMotte Company
• Humboldt Mfg. Co.
• EIE Instruments Private Limited
• Sun Labtek Equipments (I) Private Limited
• S.W. Cole Engineering Inc.
• Eurofins Scientific S.E.
• M&L Testing Equipment LLC

 

Technological Innovations Reshaping the Market

Emerging Technologies

• Example: August 2022 launch of Radicle Agronomics by Precision Planting
• Features:
  • Cloud-based system for soil nutrient management
  • Self-calibration technology
  • Fully automated soil sample tagging machine, GeoPress™
  • First wholly automated soil laboratory, Radicle Lab™

 

Strategic Acquisitions

• Example: March 2021 acquisition of AgroLab Inc. by Matrix Sciences Inc.
• Benefits:
  • Expanded services in soil testing and pesticide testing
  • Enhanced agricultural analysis capabilities

 

Market Segmentation

By Type of Test

• Physical
• Residual
• Chemical

By Site

• Laboratory
• On-site

By Degree of Automation

• Manual
• Semi-Automatic
• Automatic

By End-User

• Construction industry
• Agriculture industry

 

Regional Insights

Current Leading Region

• North America (largest market in 2023)

 

Conclusion

The soil testing equipment market is experiencing significant growth due to increasing agricultural activities, construction booms, and technological innovations. With a focus on precision agriculture and sustainability, the market is set to expand rapidly. Strategic acquisitions and partnerships further enhance market capabilities, ensuring robust growth in the coming years. The industry is poised to meet global food security needs and adapt to climate change challenges through advanced soil testing technologies and practices.

 

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The Soil Testing Equipment Global Market Report 2024  provides comprehensive insights on the soil testing equipment market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the soil testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –

Soil Compaction Equipment Global Market Report 2024
Soil Stabilization Global Market Report 2024

Soil Amendments Global Market Report 2024

 

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