The soil testing kit market is likely to record a promising CAGR of 10.4% during the forecast period and is expected to be valued at US$ 11.30 Bn by 2032. The market was valued at US$ 4.05 Bn in 2021.
Attributes
Details
Soil Testing Kit Market CAGR
10.4%
Soil Testing Kit Market Value in 2021
4.05 Bn
Soil Testing Kit Market Value in 2032
11.30 Bn
The soil testing kit makes it easier to determine the available nutrients in the soil in order to decide the correct dosage of fertilizers in the crop. Soil testing equipment or kit includes a soil testing meter, a reagent kit, and a weighing scale.
Civil and geotechnical engineers use solid testing kits to provide information that helps users form decisions around selecting design parameters, base systems, and concrete materials for buildings. This drives the sales of soil testing kits as it is majorly used in the construction industry.
Soil testing kit market report explains that the acceptance also drives the increased sales of soil testing kits that precision farming maximizes, yield and profitability of various crops and gauges soil fertility. These factors are driving the demand for soil testing kits.
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What are the Key Drivers and Restraints to the Soil Testing Kit Market?
Rapid growth in infrastructure and construction, which can be attributed to rapid urbanization and increasing population, is fueling the growth of demand for soil testing kits. Furthermore, strict government standards and regulations for construction materials are projected to propel the demand for soil testing kits (improved and advanced).
Environmental Protection Agency (EPA) scientists are developing rapid, reliable, and inexpensive methods for assessing the bioavailability of arsenic and lead in contaminated soils. This helps the soil testing kit market is growing.
The United States Department of Agriculture (USDA) held the Environmental Quality Incentives Program (EQIP) for American farmers, under which it provides financial and technical assistance to agricultural and forestry producers to address concerns regarding natural resources. This helps in increasing the demand for soil testing kits.
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Which Region holds the Highest Growth Potential in the Soil testing kit Market?
Based on regions, North America is estimated to hold a significant share of the soil testing kit market owing to the highly regulated U.S. market and high adoption of soil testing standards in the U.S.
The construction and agriculture sectors of countries in the North American region, such as the U.S. and Canada, have witnessed growth, and this has ultimately boosted the sales of soil testing kits in these regions while choosing concrete materials base systems for construction. The region is likely to contribute to the growth of the soil testing kit market.
Due to the aforementioned factors, the North American soil testing kit market is estimated to witness significant growth during the forecast period. Similar trends are also followed in Europe. The agriculture sector in the countries of Europe, such as Italy, Germany, and France, have witnessed growth, which is contributing to the growth of the soil testing kit market in Europe.
Furthermore, the Asia Pacific, excluding Japan, is anticipated to witness significant growth in soil testing kits due to the presence of the key manufacturers of the same in the region, which is significantly contributing to the growth of the soil kit testing market in the region.
Therefore, these parameters are expected to significantly contribute to the growth of the soil testing kit market during the forecast period.
How’s the Competitive Landscape in Soil testing kit Market?
The key players of Soil testing kit market are focusing on improvement of technology, bringing in innovative ideas, and easing the process, storage, transportation for the end user. This is driving the sales of Soil testing kit.
Key players in soil testing kit market are WS Telematics Private Limited, LaMOtte Company, COSLAB, IKON Instruments, Ele International, Agilent, AQUAEXCEL CHEMTEST, Plasti Surge Industries Pvt Ltd and Hanna Instrumental.
Recent Market Development:
Ele International initiated a new variant of the software used for soil testing, complying with BS, ASTM, AASHTO standards. The company has designed and created software for geotechnical laboratories.
Agilent has taken over the Young in Scientific Co. Ltd (South Korea) that is focused at enhancing the Agilent’s analytical qualities. This is going to increase the sales of soil testing kit in South Korea.
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Scope of Report
Report Attribute
Details
Growth Rate
CAGR of 10.4% from 2022 to 2032
Base year for estimation
2021
Historical data
2015 – 2020
Forecast period
2022 – 2032
Quantitative units
Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032
Report coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered
Product, End Use, Region
Regional scope
North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand
Country scope
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa
Key companies profiled
WS Telematics Private Limited, LaMOtte Company, COSLAB, IKON Instruments, AQUAEXCEL CHEMTEST, PLasti Surge Industries Pvt Ltd and Hanna Instrumental.
Customization scope
Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs.
Frequently Asked Questions
What Segment of Soil Testing Kit Market is Performing Well by end user?
Construction is the biggest segment in the soil testing kit market and is expected to hold a big portion of the market in the forecast period. This leads to the high demand for soil testing kits.
Who are the Key Players in the Soil Testing Kit Market?
Key competitors holding substantial Soil testing kit market share include WS Telematics Private Limited, LaMOtte Company, COSLAB, IKON Instruments, Ele International, Agilent, AQUAEXCEL CHEMTEST, PLasti Surge Industries Pvt Ltd and Hanna Instrumental.
Which is the Key Driver in the Soil Testing Kit Market?
Demand for soil testing kit is likely to rise because of its increased use in the construction industry, design. That is going to increase the sales of soil testing kit.
