Rockville, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global total station market is slated to propel at a CAGR of 6.3% from 2023 to 2033. In 2023, the valuation of the market is likely to reach US$ 2.3 billion. Following steady acceleration, a valuation of US$ 4.25 billion is anticipated in 2033.
Modern construction projects require precise and accurate measurements. This is why the demand for total stations is increasing. Total station technology is used to provide accurate survey information for construction projects, allowing for efficient and cost-effective project planning. Through technological, construction companies are realizing the benefits of investing in total stations.
Total station technology provides reliable accuracy and speed when compared to traditional surveying methods. This makes it an attractive option for those looking to save time and money on their construction projects. The need for modernized construction plans is becoming increasingly important, and the demand for total stations is expected to propel as a result.
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Increasing need for modernized construction plans is driving the demand for total stations, as they provide the necessary accuracy and efficiency to ensure successful projects. Total stations allow surveyors to quickly measure distances, angles, elevations and other features that are required for construction projects. With total stations, surveyors can quickly collect the necessary data that is needed to create accurate plans and designs.
Total stations also provide advanced features such as data logging, global positioning system compatibility, automated data collection and computerized data processing capabilities that are necessary for modern construction projects. The increasing need for these advanced features is driving the demand for total stations. The increasing popularity of BIM (Building Information Modelling) technology is also leading to an increased demand for total stations. This technology requires precise measurements that can only be provided by total stations.
Based on type, the robotic segment is slated to hold a significant market valuation between 2023 and 2033. A robotic total station is a gadget that incorporates an electronic measuring meter as well as an electronic theodolite. A storage system, data collector, and angle measurement are among the prominent features of a robotic total station's three-part system.
Asia Pacific is likely to remain on top of the global market from 2023 to 2033. The development of smart cities in nations like India, China, Japan, and Korea is the primary factor driving market acceleration in Asia Pacific. The use of contemporary technology in geographic mapping is also a key factor fueling the expansion of the total station market.
Key Takeaways:
- Asia Pacific looks likely to spearhead the global market for total stations from 2023 to 2033.
- The United States is projected to hold a significant share in the global market over the assessment period.
- Japan is accounted for a sizeable share in the global total station market between 2023 and 2033.
- By product type, manual segment is set to account for a 30% share in the global market for total stations.
- Based on end use, the construction sector is likely to dominate the worldwide market.
Growth Drivers:
- Introduction of new building projects is anticipated to support infrastructure development activities and increase total station demand.
- Demand is also predicted be driven by a rise in the need for error-free calculations that are quick and accurate.
- Market expansion is being fueled by an increase in demand across sectors for 3-dimension modelling and scanning.
- Adoption of total stations in land surveying is being driven by improvements in performance and accuracy.
Restraints:
- Lack of competent professionals for the operation of total stations is poised to hinder market expansion.
- High costs of advanced total stations compared to the affordability and easy availability of traditional construction equipment is anticipated to stymie market acceleration.
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Competitive Landscape:
Manufacturers are adapting numerous strategies to meet the changing needs of the construction industry. Various companies are now offering integrated software and hardware solutions which enable customers to measure, plan, design and coordinate effectively. As a result, there is an increasing demand for total stations as they provide surveyors with improved accuracy and efficiency. Additionally, manufacturers are also providing customized solutions to cater to specific customer requirements, such as the ability to integrate total stations into existing systems.
For instance,
- In January 2022, GTL-1200, a new scanning robotic total station from Topcon Positioning Group was announced. The GTL-1200 system gives users the ability to do digital layout and take high-resolution 3D scans with just one setup by combining the strength of a robotic total station with such an ideal laser scanner.
- In February 2020, the world's precise total station, the Leica Nova TS60, was unveiled by Leica Geosystems, a division of Hexagon, with the newly integrated DynamicLock and AutoHeight capabilities.
- In March 2020, to bring about a paradigm shift in the land surveying sector, Lawrence & Mayo introduced its total station brand. The introduction aims to provide competitive product price and accessibility of total stations for India's land surveying business.
Companies Profiled by Fact.MR
- Topcon Corporation
- Suzhou FOIF Co. Ltd.
- STONEX Srl
- South Group
- Boif
- Hexagon AB
- KOLIDA
- TJOP
- Trimble Inc.
- Changzhou Dadi Surveying Science & Technology Co. Ltd.
- EIE Instruments
- Sanding
More Valuable Insights on Total Station Market
In the latest study, Fact.MR offers a detailed study on global total station market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of total station through detailed segmentation as follows:
By Product Type:
- Robotic
- Manual
By Voltage Rating:
- Less than 1.5 V
- 1.5 V to 2V
- Above 2V
By End-Use Vertical:
- Construction
- Mining
- Agriculture
- Transportation
- Utilities
- Oil & Gas
- Forensic Investigation
- Other Verticals
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Key Questions Covered in the Total Station Market Report
- What is the projected value of the total station market in 2023?
- At what rate will the global total station market grow until 2033?
- Which are the factors hampering the growth in the total station market?
- Which region is expected to lead in the global total station market during 2023-2033?
- Which are the factors driving the total station market during the forecast period?
- What is the expected market value of the total station market during the forecast period?
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