The global soil testing market is projected to garner a revenue of US$ 5,670.2 million by 2032, up from US$ 3,482.3 million in 2022, moving forward with a CAGR of 5.0% during the forecast period.
Soil testing is in high demand due to its ability to determine the characteristics of soil material and rock, which is critical information for end-use industries such as construction and agriculture, among others.
Soil testing is used in agriculture to analyze soil to determine nutrient levels, composition, and various properties, such as pH balance, which boosts the overall market growth. Furthermore, rising soil testing sales can be attributed to its assistance in determining fertility levels, identifying potential toxins, nutrient deficiencies, and trace minerals.
The soil testing market trends are swayed by a wide range of static and dynamic tests performed as defined by various testing and certifying agencies like ASTM, AASHTO, BS, IS, DIN, etc.
The soil testing market has expanded significantly over the last decade and is expected to expand further in the coming years due to high demand from the construction industry.
To meet high demand, market players are investing in developing new products, expanding product lines, and expanding their global presence through mergers and acquisitions.
The use of soil testing by civil and geotechnical engineers, which provides information that has a direct impact on the selection of foundation systems, pavement materials, and design parameters for buildings, bridges, dams, roads, and other infrastructures, is driving the market growth. Furthermore, to meet the growing demand for food from the world’s expanding population, strong demand.
By 2022, Europe is anticipated to get hold of a soil testing market share of 30.0%, owing to the strict food safety, environmental, and agricultural laws, as well as those governing the nutritional value, chemicals, and labeling.
The market for soil testing in the region is expected to advance as a result of the expansion of the agricultural sector, particularly in Germany. Most testing labs are located in Europe, compared to all other continents, and the same is anticipated to boost the market growth in the region.
Key Players
- EIE Instruments
- Controls S.p.A.
- Humboldt Mfg. Co.
- Gilson Company, Inc.
- Aimil Ltd.
- SGS SA
- Eurofins Scientific
- ELE International
- ALFA | Testing Equipment
- Matest S.p.A.
- LaMotte Company
- R J Hill Laboratories Ltd
- Intertek Group plc
- Geotechnical Testing Equipment
- M&L Testing Equipment (1995) Inc.
