Total Station Market Evolving with High Growth Rate of CAGR of 4.1% by 2026
The demand for total stations is increasing due to the rise in modernized construction plan, use of 3D modeling in construction technology and the increasing demand for precise measurement in rail application. Manufacturers are providing both manual as well as robotic total stations, however, the demand for robotic total station is rising as it provides accuracy, speed and can be operated by the single user. Manufacturers are focusing on developing total station for specific application for various industries. Sensor technology is also being incorporated in total station for accuracy of measurements. Meanwhile, manufacturers are also focusing on incorporating new technology and unique features to provide measurement accuracy for three vital components that total station depends on, namely, measurement path, setup point, and measurement target.
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Lack of awareness and training regarding the use of advanced technology is restricting the growth of total station. However, some of the manufacturers have started providing on-site training to the end-users using their product.
According to the latest report by Fact.MR, the global total station market is expected to witness moderate growth, registering 4.1% CAGR during the forecast period 2017-2026. Owing to the introduction of advanced features in total station, the demand for total station is increasing in electrical and mechanical construction, mining, meteorology, etc. However, high cost and environmental conditions are hampering the growth of the global total station market. Moreover, total station market is cost sensitive, hence, making it difficult for manufacturers to provide it at competitive prices. Following are the insights on how the global total station market will perform in the coming years.
4 Forecast Highlights on Global Total Station Market
Asia Pacific Excluding Japan (APEJ) is expected to dominate the global total station market during the forecast period 2017-2026. Owing to the wide use of mapping and surveying technologies, and the on-going development of smart cities in countries such as India and China, the demand for total station is increasing in the region.
North America and Europe are also expected to witness growth during the forecast period 2017-2026. There has been an increase in the use of total stations that can be remotely operated and provide real-time data in North America. Technological advancements and highly skilled workforce are also contributing to the growth in the region.
The robotic total station is expected to be the highly preferred product in the global total station market during the forecast period. By the end of 2026, robotic total station is projected to surpass US$ 700 million revenue. The robotic total station is mostly preferred for big commercial and non-commercial projects. Factors such as reduced cost, increased speed, and precision are contributing to the growth of robotic total station.
A total station is expected to be largely used by construction sector. By the end of 2026, construction sector is projected to reach nearly US$ 800 million revenue. Meanwhile, mining sector is also expected to witness growth in the global total station market during the forecast period 2017-2026. Rise in infrastructure activities due to the growth in urbanization is driving the demand for total stations globally.
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The report also offers a detailed profile on some of the leading players in the global market for total station, which will remain active through 2026. These include companies such as Hexagon, Topcon, Trimble, EIE Instruments, South Group, Sanding, FOIF, TJOP, Dadi, Boif, and KOLIDA.