Global Soil Testing Equipment Market to Reach $11 Billion by 2030
The global market for Soil Testing Equipment estimated at US$6.1 Billion in the year 2023, is expected to reach US$11 Billion by 2030, growing at a CAGR of 8.9% over the analysis period 2023-2030. Residual Testing Equipment, one of the segments analyzed in the report, is expected to record a 10.1% CAGR and reach US$5.9 Billion by the end of the analysis period. Growth in the Physical Testing Equipment segment is estimated at 7.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 12.2% CAGR
The Soil Testing Equipment market in the U.S. is estimated at US$1.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2030 trailing a CAGR of 12.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.5% and 7.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.7 Billion by the year 2030.
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