The global theodolite market was valued at US$ 754.4 Mn in 2018 and is projected to witness noteworthy growth, expanding at a CAGR of 5.4% during the forecast period from 2019 to 2027. The theodolite is an instrument used specifically in archaeology and survey testing for measuring vertical and horizontal angles. A theodolite comprises a small telescope attached to devices that help measure angles and have 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 a wide range of applications in surveying, like locating points on lines, laying horizontal angles, prolonging survey lines, determining differences in setting out curves and elevation, aligning tunnels, etc. As a result, the rising need for theodolite in the surveying, civil engineering, and machine engineering sectors for making precise planar angle measurements is boosting the market for theodolite worldwide.
Market Snapshot
Construction garnered the largest market share in 2018,
In 2018, the 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 2019 to 2026.
Technological advancements in the construction industry have led to the introduction of new surveying instruments at regular intervals. These advances have made the work of planning construction projects easier. 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 the 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 2019 to 2027.
Based on geography, Asia-Pacific represented the largest market for theodolite in 2018. The region is expected to continue with its dominance and grow at a substantial rate during the forecast period from 2019 to 2027.
The 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, and land and forest 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 portfolios to satisfy the rising needs of customers. Partnerships and new product development remain some of the major strategies adopted by the leading players to gain an advantage over their counterparts.
Historical and Forecast Period
The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The theodolite market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global theodolite market based on product type, end-use industry, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the size of the theodolite market in 2018, and what is the forecast up to 2027?
What are the key factors driving the global theodolite market?
What are the key market trends and high-growth opportunities observed in the theodolite market?
What are the drivers of the theodolite market?
Which is the largest regional market for the theodolite market?
Which segment will grow at a faster pace? Why?
Which region will drive the market's growth? Why?
Which players are leading the theodolite market?
What are the sustainability strategies adopted by the key players operating in the market?
Frequently Asked Question:
The market for Theodolite Market is expected to reach USD$ 754.4 Mn in 2027.
The Theodolite Market is expected to see significant CAGR growth over the coming years, at 5.4% .
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Beijing Bofei Instrument Co., Ltd., and Changzhou Dadi Surveying Science & Technology Co., Ltd.are some of the major players in the global market.
