Theodolite Market To Witness Rapid Growth In Demand During 2022 – 2031 : FactMR

Rockville, United States , 2022-Apr-28 — /EPR Network/ — The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Theodolite market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Theodolite

The report offers actionable and valuable market insights of Theodolite. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Theodolite Market across various industries and regions.

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As per latest industry analysis by Fact.MR, the global theodolite market is valued at US$ 326 Mn, and is projected to expand 1.7X and reach a valuation of US$ 560 Mn by 2031. Electronic theodolite accounts for US$ 70 Mn and its demand is predicted to grow at a higher rate than other product types. Theodolite consumption accounts for approximately 11% share of the global land survey equipment market.

Theodolite Market Size (2020A)	US$ 310 Mn
Projected Year Value (2031F)	US$ 560 Mn
Value CAGR (2021-2031)	5.4%
Collective Value Share (U.S., U.K., Germany): Top 3 Countries	46.8%

This newly published and insightful report sheds light on Market Insights of Theodolite, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Theodolite Market.

Key Segments Covered in Theodolite Industry Research

·         Theodolite Market by Product Type

• • Vernier Theodolite
  • Optical Theodolite
  • Electronic Theodolite

·         Theodolite Market by Application

• • Theodolite for Construction
  • Theodolite for Oil & Gas
  • Theodolite for Mining
  • Theodolite for Agriculture
  • Others

·         Theodolite Market by Sales Channel

• • Offline Channels
    • Wholesalers/Distributors
    • Independent Small Stores
    • Other Sales Channels
  • Online Channels

·         Theodolite Market by Region

• • North America Theodolite Market
  • Latin America Theodolite Market
  • Europe Theodolite Market
  • South Asia Theodolite Market
  • East Asia Theodolite Market
  • Oceania Theodolite Market
  • Middle East Africa Theodolite Market

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Competitive Landscape

Majority of theodolite manufacturers have started focusing on product launches and expanding their manufacturing units in developing countries such as China, India, Brazil, and Mexico. Strategies include innovation, collaboration with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

For instance-

• Hexagon launched HxGN AgrOn Logistics, an end-to-end harvest logistics solution for large-scale sugarcane and forestry producers, and acquired VIRES Simulations technologie GmbH, a provider of simulation software solutions.
• Trimble Inc. introduced the FieldPoint RTX correction service for geospatial positioning, which runs on the Trimble RTX technology.

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Key Takeaways from Market Study

• Rising urbanization is a key macroeconomic factor that can positively impact the global theodolite market.
• Innovation in technology is expected to enable manufacturers to develop next-generation theodolite, such as electronic or robotic theodolite. These types of theodolites are likely to become the preferred choice in surveying operations.
• Among the applications, construction theodolite has been the fastest-growing segment, owing to rise of the construction sector globally.
• North America is set to dominate market revenue and gain 89 BPS by 2031.
• Due to the COVID-19 crisis, demand for theodolite was hit in 2020, which witnessed a decline of 1.3% over the 2nd and 3rd quarters.

“Rising number of activities in the construction sector and fueling growth in infrastructural development are expected to contribute to the escalation in demand for theodolite through 2031,” says a lead analyst at Fact.MR.

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