New Product Launches and Acquisitions Adopted by Key Players as Strategies in the Soil Testing Equipment Market
The global soil testing equipment market size is estimated at USD 3.3 billion in 2019 and is projected to reach a value of USD 6.2 billion by 2025, growing at a CAGR of 10.8%. Key players in this market include Agilent Technologies (US), Thermo Fisher Scientific Inc. (US), Merck Group (Germany), PerkinElmer Inc. (US), Controls S.p.A (Italy), LaMotte Company (US), Geotechnical Testing Equipment UK Ltd (UK), Sun Labtek Equipments (I) Pvt. Ltd (India), Martin Lishman Ltd (UK), S.W. Cole (UK), Ele International (UK), Gilson Company Inc. (US), Humboldt Mfg. Co. (US), EIE Instruments Pvt. Ltd (India), Eurofins Scientific (Luxemburg), and Alfa Testing Equipment (US).
These vendors have adopted various growth strategies, such as expansion & investments, new product launches, acquisitions, agreements, collaborations, partnerships, and joint ventures, to cater to the increasing demand from consumers present in the soil testing equipment market. Companies are focusing on increasing their product portfolios through strategic acquisitions and by expanding their manufacturing capacities.
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Agilent Technologies (US) has been expanding its business in the soil testing equipment market by way of acquisitions. The company also has a strong foothold in the European and Asia Pacific markets where the demand for soil testing has been growing, owing to the increased use of herbicides and insecticides on crops, which affects the quality of the soil. In August 2018, Agilent announced the acquisition of Young In Scientific Co. Ltd (South Korea), which aims at strengthening Agilent’s analytical capabilities in the environmental field as well as enhancing its direct reach in the South Korean market
Ele international (UK) provides equipment for construction material testing and environmental instruments. The company’s product portfolio has recently expanded to software for soil testing complying with BS, ASTM, and AASHTO Standards. The company focuses mostly on launching new products to elevate company branding. It has a significant geographical presence with offices located in all the global continents. In June 2018, the company launched AUTO Soils Consolidator (ASC), as the results are collected automatically, which would increase the accuracy and reliability in test results. A one-dimensional consolidation test (Oedometer) is vitally important for many construction projects.
Related Reports:
Soil Testing Equipment Market by End-user Industry (Agriculture, Construction, Environment), Type of Tests (Physical, Residual, Chemical), Site (Lab, On-Site), Degree of Automation (Automatic, Manual), and Region – Global Forecast to 2025
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