Soil Testing Equipment Market

Report Overview

[170+ Pages Research Report] Soil Testing Equipment Market to surpass USD 13.1 billion by 2032 from USD 4.13 billion in 2021 at a CAGR of 11.1% throughout the forecast period 2022-32

Product Overview

Soil testing is performed to learn different properties like nutrient content, acidity, composition, pH level, and more. The process includes gathering soil samples, preparing them for analysis, performing physical or chemical analysis, interpreting the results of the analysis, and then recommending fertilizer and lime for the crops. A soil test can determine how much nutrition is currently in the soil and how much more is required. For more uniform crop growth, it helps to increase the homogeneity of nutrient availability across the fields. In numerous industries, soil testing is crucial. 60% of crop yields, particularly in the agricultural sector, are dependent on soil fertility. This guarantees the soil's high quality, which is crucial to farming along with other variables.

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Market Highlights

The Soil Testing Equipment Market is expected to project a notable CAGR of 11.1% in 2032.

Soil Testing Equipment Market to surpass USD 13.1 billion by 2032 from USD 4.13 billion in 2021 at a CAGR of 11.1% in the coming years, i.e., 2022-32. The construction and agricultural industries' high demand for soil testing equipment is anticipated to drive the market growth. The need for soil testing equipment rises due to the rising construction activities throughout different locations since it evaluates the soil requirements for the proposed construction. This is yet another key driver of the Soil Testing Equipment Market.

Figure - Market Analysis of Soil Testing Equipment Market

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Soil Testing Equipment Market: Segments

The Physical segment is expected to grow with a higher CAGR during 2022-32

Soil Testing Equipment Market is categorized on the basis of Type into Physical, Chemical, and Residual. The Physical Tests segment holds a major market share among others. Physical tests include examining the soil's plasticity, porosity, leachability, and shear strength. The demand for physical examinations is driven by the rapid urbanization of India and China. The industry is driven by the customers’ increasing awareness of the presence of chemical residues like fertilizers and pesticides, in fresh vegetables and fruits.

The Construction segment is expected to grow with a higher CAGR during 2022-32

Soil Testing Equipment Market is categorized on the basis of End Use Industry into Construction, Agriculture, and Others. The Construction segment leads the market among other industries. Owing to rapid industrialization, nations like India have seen a significant increase in foreign direct investments (FDI) in the building sector. The growth of related businesses like soil testing equipment, is anticipated to be fueled by the rising global infrastructure spending. The need for necessary equipment is expected to be driven by technological development together with growing awareness of the advantages of soil testing.

Figure - Market Analysis of Global Soil Testing Equipment

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Market Dynamics

Growth Drivers

The Growing Need for Better Farm Management Practices and Speedy Adoption of Precision Farming

The market is witnessing growth due to the demand for proper farm management techniques, the intensification of agriculture, the necessity for quick and accurate test results, and industrialization. The quick adoption of precision farming increases crop production and profitability and measures nutrient leachability, soil fertility, and movement, which would help to improve soil composition and quality. This has also made it possible for the farmers to divide fields into zones, developing a site-specific strategy to increase yields and reduce input expenditures. These factors are contributing to the growth of the global Soil Testing Equipment Market.

Technological Advancements and Supportive Government Schemes

Owing to the excessive use of fertilizers, pesticides, and insecticides that are chemically infused, the demand for soil testing to determine the soil's ability to produce agricultural products increases. This will support the growth of the global Soil Testing Equipment Market over the next five years. Agriculture's intensification and the demand for quick and accurate soil analysis test findings both contribute to the market growth. The development of the global Soil Testing Equipment Market is further fueled by elements like increased investment in product development and novel goods, technological developments, favorable government plans and schemes, and also tax benefits for such equipment.

Restraint

Uncertainty for Drainage Conditions during Tests and Low Interest among Farmers for Soil Testing

The availability of various test findings resulting from various test methodologies and uncertainty surrounding conditions of drainage during testing are two variables that are projected to have a negative impact on the market growth. Despite the many advantages, some farming communities in developing nations lack interest in soil testing, which is anticipated to constrain market growth to a considerable level.

Recent Developments

• Ele International (UK) debuted a new version of the soil testing software in September 2019 that complies with ASTM, BS, and AASHTO requirements. This software is specifically made for geotechnical labs. It will raise the standard and output of soil tests like the California Bearing Ratio, consolidation, triaxial, and permeability tests.
• Agilent (US) made an announcement of the acquisition of Young In Scientific Co. Ltd (South Korea) in August 2018. The acquisition seeks to expand Agilent's direct market reach in South Korea and increase its analytical skills in the environmental field.

Soil Testing Equipment Market: Key Players

• Thermo Fisher Scientific Inc.

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Eurofins Scientific
• Agilent Technologies Inc.
• PerkinElmer Inc.
• Merck KGaA
• LaMotte Company
• S.W. Cole
• EIE Instruments Pvt. Ltd
• Sun Labtek Equipments (I) Pvt. Ltd
• Gilson Company Inc.
• Humboldt Mfg. Co.
• M&L Testing Equipments
• Alfa Testing Equipment
• Ele International
• Geotechnical Testing Equipment UK Ltd
• Other Prominent Players

Soil Testing Equipment Market: Regions

Soil Testing Equipment Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America region is dominating the Soil Testing Equipment Market due to the larger market in the United States. The presence of key players, growing funds for environmental protection and growth in organic farming are driving the market in this region.

Asia-Pacific will produce highest growth rate, owing to the region's increased adoption of new technologies and automation processes in different industries. Agricultural professionals in China are looking for modern farming practices to help them achieve long-term growth in agricultural yield.

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Impact of Covid-19 on Soil Testing Equipment Market

COVID-19 pandemic had shut down the production of various products in the soil testing equipment owing to the prolonged lockdown in major global countries. This hampered the growth of the Soil Testing Equipment Market significantly and was likely to continue during 2020. COVID-19 had already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market throughout the year.

Soil Testing Equipment Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Soil Testing Equipment Market report also contains analysis on:

Soil Testing Equipment Market Segments:

• By Type 
  • Physical
  • Chemical
  • Residual
• By Site 
  • Laboratory
  • On-Site
• By End Use Industry
  • Construction
  • Agriculture
  • Others 
• Soil Testing Equipment Market Dynamics
• Soil Testing Equipment Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Soil Testing Equipment Market Report Scope and Segmentation

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