Theodolite Market to Register a Moderate CAGR During the Forecast Period 2018 – 2025
The global theodolite market is expected to register a healthy growth attributed to the growing need for making accurate measurements during the construction process. Apart from making accurate measurements in the construction industry, application of the theodolite also contributes during the study of orology. Growing need to re-measure the mountain ranges by the survey department of countries such as China and India continues to fuel growth of the global theodolite market. Integration of advanced technological features that enable laser tracking and GPS monitoring for high precision measurement has further contribute towards growth of the global theodolite market.
Key market players operating in the global theodolite market include EIE Instruments, South Surveying & Mapping Instrument Co Ltd, Survey Instruments Services Pte Ltd., Hexagon AB, Trimble, Suzhou FOIF Co., Hilti Group and Topcon Corporation.
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In the next section, the report reveals that the global theodolite market is segmented on the basis of product type, application and region. On the basis of product type, the global market is segmented as optical, electronic and vernier product. Based on application, the global market is segmented in terms of industrial, construction and other applications. By region, the global theodolite market is segmented as North America, Latin America, Europe and Japan.
Growth of the global theodolite market is mainly bound to various macro-economic and micro-economic factors. The report reveals that the increasing demand for making precise measurements in various industries such as construction and transportation industry has led to an upsurge in demand for theodolite market. Emerging technology will continue to transform and redefine the application of theodolite globally. With the emerging technology, manufacturers are focusing on integrating the advanced technological features in theodolite devices in order to equip them with enhanced GPS and laser tracking attributes. Bound to these factors, adoption of the theodolite devices will continue to increase in the global market.
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The report provides an in-depth insight on the crucial aspects of the global theodolite market while offering related information on the important segments, factor fuelling growth of the global market, competitive landscape and growth patterns. Trends Market Research states that the global theodolite market is expected to represent a value of over US$ xx Mn by the end of 2025.
On the other hand, various factors are expected to inhibit growth of the global theodolite market. Bound to lack of raw materials due to imposition of restrictions on use of the arsenic oxide by the European Union is likely to inhibit growth of the global market positively. As arsenic oxide is increasingly used to manufacture telescope, microscope and optical lens. With increasing impositions by the government on the use of arsenic oxide, the global theodolite market is expected to witness an inhibiting growth.
Theodolite devices will further continue to witness significant demand during the survey procedures. Increasing demand to re-measure the mountain ranges in various countries such as China and India is likely to rev up adoption of the global theodolite market.
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