Theodolite Market To Grow At A CAGR Of 5.4% Between 2019 And 2027

Theodolite Market To Grow At A CAGR Of 5.4% Between 2019 And 2027

According to a new market report published by Credence Research, Inc., “Global Theodolite Market (By Product Type (Optical Theodolite, Electronic Theodolite and Vernier Theodolite), By End-use Industry (Construction, Transportation, Oil & Gas, Mining, Agriculture, and Others) – Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global theodolite market is expected to witness a growth of 5.4% CAGR during the forecast period from 2019 to 2027.

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Product Insights

The global theodolite market was valued at US$ 1,203.7 Mn in 2018 and is expected to witness a considerable growth, expanding at a CAGR of 5.4% during the forecast period from 2019 to 2027. Theodolites are used for measuring angles by using a movable telescope. It helps in measuring the horizontal angles, vertical angles and slope distances from the instrument to a particular point.

Transformation of tools and techniques in the surveying area has led to an introduction of varied instruments for the purpose of surveying. Increasing need for making correct measurements and navigation has led to an upsurge in demand for theodolites in the global market. Moreover, investigation of tactical observations, accidents, landmark triangulations and land surveying has steered the demand for theodolites and is likely to increase considerably during the forecast period from 2019 to 2027.

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The theodolite market is segmented based on product type, end-use application and geography. Based on end-use industry, the construction segment garnered largest market share in 2018. Growing infrastructure demand and continuous development in the construction industry are the major factors boosting the overall theodolites market. Moreover, the utilization of theodolites in transportation is expected to register maximum growth rate during the forecast period. Rising investments in transportation infrastructure is likely to support the segment growth. Furthermore, based on geography, the theodolite market was dominated by Asia Pacific in 2018. The region is expected to continue with its dominance during the forecast period from 2019 to 2027.  The growth is mainly backed by the rising development of smart cities in India, China and other Southeast Asian countries is driving the demand for theodolites in the region.

Competitive Insights:

Major players 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. The major players are aiming on taking up strategies such as new product development, product innovation, partnerships, etc. to endure and flourish in the competitive market environs.

Download Free brochure of research report with TOC and Figures @  https://www.credenceresearch.com/sample-request/59811

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