Overview:
The global theodolite market was valued at US$ 1,333.6 Mn in 2020 and is projected to witness noteworthy growth, expanding at a CAGR of 5.4% during the forecast period from 2021 to 2029. Theodolite is an instrument used specifically in archaeology and survey testing for measuring vertical and horizontal angles. A theodolite comprises of a small telescope attached to devices that helps in measuring angles and has a variety of moving parts. They have the same constructional features regardless of their age or level of technology, and all of them basically perform the same functions. Theodolites have wide range of applicability in surveying like locating points on line, laying horizontal angles, prolonging survey lines, determining difference in setting out curves, elevation, aligning tunnels, etc. As a result, rising need of theodolite from surveying, civil engineering, and machine engineering sectors for making precise planar angle measurements is boosting the market for theodolite worldwide.
"Construction garnered Largest Market Share in 2020
In 2020, construction industry segment accounted for the largest market share in the overall theodolite market. The segment is expected to grow at a significant rate during the forecast period from 2021 to 2026. Technological advancements in the construction industry has led to the introduction of new surveying instruments at regular intervals. These advances have made the work of planning construction projects an easier task. Earlier, surveying the construction project was performed manually by rotating an instrument, but now theodolites leverage data electronically for more precise measurements. For many construction firms, this means being able to accurately position and layout points on the construction jobsite. Moreover, rapid urbanization has led to increased mobility infrastructure. With growing global population, more people are migrating to urban areas. This has led to the need for more infrastructure and growth in construction activities which is thereby driving the market growth.
'Asia Pacific to retain its Supremacy in the Theodolite Market during the Forecast Period from 2021 to 2029."
Based on geography, Asia Pacific represented the largest market for theodolite in 2020. The region is expected to continue with its dominance and grow at a substantial growth rate during the forecast period from 2021 to 2029. Development of smart cities in India, China and other Southeast Asian countries is driving the demand for theodolites in the region. Moreover, the use of theodolites for roadway and highway management, transportation management, precision farming, land and forestry management are some of the major factors boosting the market for theodolites in the Asia Pacific region.
Competitive Insights
The major players identified in the theodolite market include Hexagon AB, Topcon, Trimble, Inc., EIE Instruments, South Surveying & Mapping Technology CO., LTD, Horizon SG, Hilti Group, Robert Bosch GmbH, Beijing Bofei Instrument Co., Ltd., and Changzhou Dadi Surveying Science & Technology Co., Ltd. among others. These players are persistently engaged in strengthening their portfolio to satisfy the rising needs of the customers. Partnerships and new product development remains some of the major strategies adopted by the leading players to have an advantage over their equivalents.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Theodolite market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
