Total Station Market worth 2.04 Billion USD by 2023 with a growing CAGR of 6.3%

NORTHBROOK, Ill. - July 2, 2019 - PRLog -- According to the new market research report "Total Station Market by Component (EDM, Microprocessor, Theodolite), Offerings (Hardware, Services), Type (Robotic, Manual), Application (Construction, Transportation, Utilities, Oil & Gas, Mining, Agriculture), and Geography - Global Forecast to 2023", the total station market is expected to be valued at USD 2.04 Billion by 2023, at a CAGR of 6.3% between 2017 and 2023. The factors that are driving the growth of this market include the 3D modelling in surveying technology, demand for fast and precise measurement in rail application, and need for modernized construction plan.

The robotic total station market is expected to grow at the highest rate during the forecast period

The market for robotic total station is expected to grow at a high CAGR between 2017 and 2023. Robotic total stations are widely used total stations for the measurement and surveying of land at large scale and for big commercial and noncommercial construction projects. They boost the accuracy and improve the performance in construction and surveying projects. Thus, the demand for automated total stations drives the robotic total station market.

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The total station market for the transportation application is expected to grow at the highest rate between 2017 and 2023

The transportation application accounted for the highest CAGR of the overall total station market in 2016. Total stations are used in surveying and construction of highways, rails, tunnels, and bridges. Increasing investments in the construction of highways, tunnels, bridges, and the rising demand for mobility-driven infrastructure are increasing the adoption of total stations, thereby driving the total station market.

APAC is expected to lead the total station market between 2017 and 2023

APAC is expected to hold the largest share of the total station market during the forecast period. The development of smart cities in China, India, and other countries in Southeast Asia has driven the demand for total stations in this region. The utilization of total stations for transportation planning, highway and roadway management, forestry and land management, and precision farming is driving the growth of the total station market in this region.

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The major players operating in the total station market include Beijing Bofei Instrument Co. (China), Advanced Surveying Instruments India (India), Changzhou Dadi Surveying Science & Technology Co. (China), Suzhou FOIF Co. (China), Hexagon (Sweden), Survey Instruments Services (Singapore), Hi-Target Surveying Instrument Co. (China), Guangdong Kolida Instrument Co. (China), Maple International Instrument (US), North Group (Spain), Robert Bosch (Germany), South Surveying & Mapping Instrument Co. (China), Stonex (Italy), TI Asahi Co. (Japan), Topcon Corporation (Japan), Trimble (US), Geo-Allen Co. (China), geo-Fennel (Germany), Hilti (US), Kara Company (US), Precision equipment Rental (Canada), Axis- GPS and Surveying Instruments (Israel), Northwest Lasers & Instruments (US), Kwipped (US), and Celtic Surveys (Ireland).