Global soil testing equipment market projected to grow to USD 11.25 billion by 2033

From GlobeNewswire: 2024-06-21 14:00:00

The Global Soil Testing Equipment Market is projected to grow from USD 4.21 Billion in 2023 to USD 11.25 Billion by 2033, with a CAGR of 10.33%. Soil testing equipment is critical for assessing soil qualities and is expected to see increased demand in various industries. Precision agriculture technology is driving market growth, but accessibility and initial costs may hinder it. North America leads the market due to government initiatives and adoption of precision agriculture techniques, while Asia Pacific is poised for rapid growth in the soil testing equipment market. Major vendors in the market include Agilent Technologies, Thermo Fisher Scientific Inc., and Merck Group among others. In 2022, IIT Kanpur developed a fast soil-testing tool called Bhu-Parikshak, available for purchase, which detects soil health in 90 seconds. Market segments include test type (physical, residual, and chemical), automation level (manual, semi-automatic, automatic), and end-users (agriculture, construction, others) across various regions.



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