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Theodolite Market

Theodolite Market Analysis, By Product Type (Optical Theodolite, Electronic Theodolite, Vernier Theodolite), By Application (Construction, Oil & Gas, Mining, Agricultural, Others), By Sales Channel (Offline, Online) - Global Market Insights 2021 to 2031

Analysis of Theodolite market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Theodolite Market Outlook

The global theodolite market is valued at US$ 326 Mn, and is projected to expand 1.7X and reach a valuation of US$ 560 Mn by 2031.

Report Attributes

Details

Theodolite Market Size (2020A) US$ 310 Mn
Projected Year Value (2031F) US$ 560 Mn
Value CAGR (2021-2031) 5.4%
Collective Value Share (U.S., U.K., Germany): Top 3 Countries 46.8%
Key Companies Profiled
  • Hexagon
  • Topcon Corporation
  • Trimble
  • EIE Instruments
  • South Group
  • Sanding
  • FOIF
  • TJOP
  • Robert Bosch GmbH
  • Turner Morris
  • KOLIDA
  • Horizon SG
  • Hilti Group
  • Changzhou Dadi Surveying Science & Technology Co., Ltd
  • Beijing Bofei Instrument Co., Ltd.

Electronic theodolite accounts for US$ 70 Mn and its demand is predicted to grow at a higher rate than other product types. Theodolite consumption accounts for approximately 11% share of the global land survey equipment market.

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Theodolite Consumption Analysis (2016-2020) Vs Market Outlook (2021-2031)

Use of theodolite increased at around 4% CAGR over the historical period of 2016 to 2020, with the U.S., China, Russia, Germany, U.K. and Spain holding significant shares in the global market. Due to high use of theodolite in elevated construction projects and increasing infrastructure developments, these markets are constantly portraying significant growth opportunities.

Developing economies such as India, China, Malaysia, Thailand, Laos, Cambodia, and other ASEAN countries are maintaining a strong demand curve due to rising infrastructure development, and hold more than 25% share in global market revenue.

Globally, demand for theodolite is gradually gaining momentum with respect to rising application in land measurements, navigation, sightseeing, and outdoor sports. Sales of theodolite will continue to increase during the forecast period due to various multi-functional features such as rangefinders, nav calculators, compasses, GPS, and geo-overlay movie cameras/photos.

Similar trend is expected to be witnessed in the near future backed by developing economies holding more than 39% revenue share, including China, India, ASEAN countries, etc. This can be attributed to rising expenditure on R&D activities conducted by major theodolite suppliers, which is deeply acknowledged by end-use industries.

Fact.MR projects the market to remain steady, exhibiting growth at 5.4% CAGR from 2021 and 2031.

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Theodolite Gaining Traction in the Industry

Before starting any operation on the ground, the prevailing situation is analyzed by land surveying equipment known as theodolite. In order to measure horizontal and vertical angles, theodolite can be used effectively and efficiently.

The optimum range of theodolite is from 5 mins to 0.1 sec. Ranging curves & tachometric surveying, tracing points on a line, setting out grades, prolonging survey lines, and finding the difference of level can all be done by theodolite. This is a very important instrument for plane surveying. Vernier theodolite, electronic theodolite, and optical theodolite are three types of theodolite used for various applications.

Electronic theodolite is experiencing huge demand in the market owing to its accuracy and precision, and its ability to present results digitally. Electronic theodolite demand is expected to see a high growth rate among all three types of theodolite. The construction and surveying industry has further contributed towards growth of the global market for theodolite.

Demand for theodolite is expected to show an escalation over the assessment period. This is attributed to the latest trend of growing application of theodolite for orology, which is further likely to provide significant growth opportunities for manufacturers. As demand for re-measuring mountain ranges in countries such as China and India continue to increase, adoption of theodolite devices is expected to rev up during the forecast period.

Furthermore, manufacturers are increasingly integrating advanced technological features such as enhanced GPS and laser tracking attributes to offer high-precision measurements. Growing need to take accurate measurements of mountain ranges is expected to uplift demand for theodolite.

Theodolite market regional incremental opportunity analysis by Fact.MR

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Country-wise Insights

Why the Mature Theodolite Market in the U.S. is showing a robust growth?

The market in the U.S. grew 3.2% from 2016 to 2020. The US is leading the market from the front based on the occupancy of more market players positioned here.

The U.S., being the most suited production site with ease of raw material availability, prospers in global theodolite production. Top players carrying high market share have restricted their production units in the U.S. in order to aid global consumption.

Matured economy and heightened investments on infrastructure projects fuel the tank of key players to drive their production bases here. Apart from robust production setup, production rate also plays a crucial role in driving the market in the country.

What Makes China and ASEAN a Hub for Theodolite Demand?

In 2020, China accounted for 46% share of the APEJ market for theodolite. China, India, Japan, South Korea, and ASEAN hold high share in total construction investment and infrastructure project developments.

Swelling economies in these countries is stimulating demand for theodolite simultaneously. Business is surging with increasing investments in railways, infrastructure projects, dams, highways, roads, etc.

Category-wise Insights

Why Electronic Theodolite are the Most Used in Industry?

Theodolite suppliers are exploring to tap unexplored opportunities in the market. Growing need to construct buildings and institutions has led to an upsurge in demand for electronic theodolite devices.

On the basis of product type, the electronic segment is expected to generate significant revenue and register a robust CAGR in the global market over the forecast period, accounting for a value of more than US$ 70 Mn.

Which Application Generates Most of the Revenue for Theodolite Market?

The construction segment, as an application, accounted for more than 50% of overall demand for theodolite in 2020. The construction segment is expected to represent the highest revenue growth, up from a value of US$ 80 Mn in 2021.

However, the industrial segment is expected to register the highest CAGR in the global theodolite market during the forecast period.

Globally surging construction business in view of improving standards of living, and elevating infrastructure standards are top factors fueling construction businesses. These factors are slowly pushing the consumption potential of theodolite.

Impact of COVID-19

The global industry (comprising constructional and developmental activities) has been heavily influenced by the COVID-19 crisis. Sales in the first quarter of 2020 were weak and experienced widespread store closures.

In case of the theodolite market, COVID-19 significantly stunted demand, owing to the shutdown of manufacturing sites and production houses. Highest hit in demand was observed in the 2nd quarter of 2020, when end-use industries, including construction, transportation, infrastructure, etc., were muted.

Competitive Landscape

Majority of theodolite manufacturers have started focusing on product launches and expanding their manufacturing units in developing countries such as China, India, Brazil, and Mexico. Strategies include innovation, collaboration with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.

For instance :

  • Hexagon launched HxGN AgrOn Logistics, an end-to-end harvest logistics solution for large-scale sugarcane and forestry producers, and acquired VIRES Simulations technologie GmbH, a provider of simulation software solutions.
  • Trimble Inc. introduced the FieldPoint RTX correction service for geospatial positioning, which runs on the Trimble RTX technology.

Key Segments Covered in Theodolite Industry Research

  • Theodolite Market by Product Type

    • Vernier Theodolite
    • Optical Theodolite
    • Electronic Theodolite
  • Theodolite Market by Application

    • Theodolite for Construction
    • Theodolite for Oil & Gas
    • Theodolite for Mining
    • Theodolite for Agriculture
    • Others
  • Theodolite Market by Sales Channel

    • Offline Channels
      • Wholesalers/Distributors
      • Independent Small Stores
      • Other Sales Channels
    • Online Channels
  • Theodolite Market by Region

    • North America Theodolite Market
    • Latin America Theodolite Market
    • Europe Theodolite Market
    • South Asia Theodolite Market
    • East Asia Theodolite Market
    • Oceania Theodolite Market
    • Middle East Africa Theodolite Market

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From 2016 and 2020, demand for theodolite increased at 4% CAGR.

Hexagon, Topcon, Trimble, FOIF, and Siemens Healthineers are prominent suppliers of theodolite in the global market.

The U.S., U.K., Germany, China, and India are top five countries contributing to higher demand for theodolite.

The global theodolite market is currently worth US$ 326 Mn.

Global consumption of theodolite is anticipated to top US$ 560 Mn by 2031.

U.S. theodolite market share in 2021 is around 88.9% of the North American market, while the Australia market size is around 64.6% of the Oceania industry.

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