(MENAFN- GlobeNewsWire - Nasdaq) Advancements and Projections in the Soil Testing Equipment Market: Insights, Trends, Opportunities, and Recent Developments

New York, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Overview

The Global Soil Testing Equipment Market size is expected to reach USD 3.5 billion by 2024 and it is further anticipated to reach a market value of USD 5.5 billion in 2033 at a CAGR of 5.3% .

The soil testing equipment market offers products and services for the evaluation of soil's physical, chemical, and biological properties in agriculture, construction, environment, research, and geotechnical fields. This global market refers to analytical instruments, testing kits, laboratory equipment, and data analysis tools.

Specialists in crop farming utilize it to increase production, construction engineers use it to guarantee the sturdiness of buildings, environmentalists apply it in their projects, and educators help their learners learn more about how sustainable technologies can be developed throughout different sectors.

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Important Insights

• Market Value: The global soil testing equipment market size is expected to reach USD 5.5 billion by 2033, growing from a base value of USD 3.5 billion in 2024, at a CAGR of 5.3% .
• Type Segment Insights: Chemical testing is projected to dominate this segment, holding 43.4% of the market share in 2024.
• Site Segment Insights: On-site testing equipment has emerged as a dominant force, accounting for 69.1% of the soil testing market share in 2024.
• Industrial Vertical Segment: Agriculture stands as the leading industry vertical in the soil testing equipment market, with a market share of 59.2% in 2024.
• Regional Insights: North America is projected to maintain a dominant position in the global soil testing equipment market, holding 41.2% of the market share in 2024.

Latest Trends

• Technological Advancements: Soil testing technologies are experiencing advancements through digital sensors, remote sensing solutions, and automated testing systems, among others, which have informed their growth in the global market. These advancements assist in determining the accurate composition of the soil to enable farmers to make proper decisions.
• Sustainability Focus: Factors such as increasing focus on sustainable farming especially in terms of soil health are also contributing to the growing market for efficient soil testing equipment. Skills such as soil management techniques, avoidance of excessive use of chemicals, and protection of water all necessitate the analysis of the soil. They can also help to track the health status of the soils, nutrient availability or depletion, and general soil degradation.

Soil Testing Equipment Market: Competitive Landscape

• Market Leaders and Innovation: Industry giants that will shape the growth of the soil testing equipment market include Agilent Technologies, Thermo Fisher Scientific, PerkinElmer, and others that continue to develop and deliver sophisticated analytical equipment and services to the agriculture and environmental industries.
• Competitive Dynamics: This market has been defined by factors such as extreme competitiveness, mergers and acquisitions, and other research and development-related activities of the leading players such as Bruker Corporation, LaMotte Company, and HORIBA among others. These activities make sure that constant innovation and changes to accommodate the dynamic needs of the industry are affected.

Some of the prominent market players:

• Agilent Technologies
• Thermo Fisher Scientific Inc.
• Gilson Company Inc.
• Humboldt Mfg. Co
• Sun Labtek Equipments Pvt. Ltd
• Geotechnical Testing Equipment UK Ltd
• W. Cole
• Controls S.p.A
• Martin Lishman Ltd
• LaMotte Company
• PerkinElmer Inc.
• Ele International
• Merck Group
• Other Key Players

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Soil Testing Equipment Market Scope

Report Highlights	Details
Market Size (2024)	USD 3.5 Bn
Forecast Value (2033)	USD 5.5 Bn
CAGR (2024-2033)	5.3%
Leading Region in terms of Revenue Share	North America
Percentage of Revenue Share by Leading Region	41.2%
Historical Data	2018 - 2023
Forecast Data	2024 - 2033
Base Year	2023
Estimate Year	2024
Segments Covered	By Type, By Degree of Automation, By Site, By Industry Vertical
Regional Coverage	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Growth Drivers

• Agricultural Productivity: The desire to get higher yields in farming triggers the use of efficient testing equipment in the measurement of soils for their health status. Soil testing tells the farmer the quality and amount of nutrients that are present in the soil, thus determining the amount of fertilizer to apply and increasing the yield of crops.
• Regulatory Compliance: In most countries, farmers and industries are required to observe demanding environmental standards and they can only achieve this if they utilize soil testing equipment. To curb pollution of the soil, prevent and control erosion, and regulate the management of the soil, national and international organizations have laid down certain policies.

Restraints

• High Costs: Instruments for soil tests like spectrometers and automatic analyzers can only be acquired by wealthy farmers on large-scale farming since they are very costly. This high cost makes it hard to penetrate the market, especially for use in small and medium-scale farms or even for household use for example for home consumption.
• Lack of Awareness: Some of the stakeholders especially farmers in different regions have no knowledge of the value of soil testing. This lack of awareness does not allow the market to develop and customers with poor yields and unhealthy soil do not see the importance of soil testing equipment.

Growth Opportunities

• Emerging Markets: The compounds in the growth of sales come from developing countries because there is a rising realization of the need for soil testing as well as better farming practices. The policies along with foreign investment and agricultural revolution are expected to boost the market and ensure the enhancement of crop yield and food security along with sustainable farming practices.
• Technological Integration: With the use of IoT and AI in the soil testing equipment, there is an improved interpretation of the result and constant monitoring of the soil. IoT sensors collect data with regard to the soil and send it to the cloud where AI is used for evaluation, predictive control, and efficient farming.

Market Analysis Chemical testing, projected to dominate with a 43.4% market share in 2024, is crucial for soil composition analysis, significantly growing from 2024 to 2033. It is very useful in determining nutrient levels, acidity/alkalinity, and contaminants for agriculture, environmental studies, and infrastructural industries. It assists in the rational use of fertilizers, guaranteeing plant development, and regarding environmental problems. Its connection with precision agriculture and how versatile it is across industries makes it the winner, boosting agriculture production efficiency and decision-making.

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Soil Testing Equipment Market Segmentation

By Type

• Chemical
  • pH Meters
  • Salinity Testing Equipment
  • Test Kits and Reagents
• Physical
  • Shear Strength Equipment
  • Leachability Equipment
  • Plasticity Equipment
  • Permeability Equipment
• Residual
  • GC-MS
  • ICP-MS

By Degree of Automation

• Manual
• Semi-automatic
• Automatic

By Site

• On-site Testing Equipment
• Laboratory Testing Equipment

By Industry Vertical

• Agriculture
• Construction
• Other

Regional Analysis

North America, projected to hold 41.2% of the soil testing equipment market share in 2024, is expected to grow significantly from 2024 to 2033. This is attributed to the highly developed agriculture sector, early adopters of precision agriculture, constant investment in research, and development, and increased regulatory demands on environmental conservation.

Awareness of biopesticides is high among farmers, especially because government policy supports it together with large-scale farming industries. Also, the focus of the region on economic development and investments in agricultural technologies add to the strengthening of the region's position as one of the most important markets for soil testing equipment.

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By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Soil Testing Equipment Market

• July 2024: Agilent Technologies launched a new line of advanced soil nutrient analyzers, enhancing precision in soil health management.
• June 2024: M&L Testing Equipment introduced semi-automatic soil testing devices, targeting small and medium-sized agricultural enterprises.
• May 2024: ALFA Testing Equipment expanded its product portfolio with digital soil moisture testers, improving accuracy and user-friendliness.
• March 2024: M&L Testing Equipment reported a significant increase in market share due to rising demand for their semi-automatic soil testing equipment.
• February 2024: ALFA Testing Equipment introduced a new range of portable soil pH meters, catering to on-field testing needs.
• January 2024: Agilent Technologies received an innovation award for its advancements in soil testing technology, recognizing its contributions to the market.

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