The Latin America, Middle East and Africa Total Station Market would witness market growth of 9.1% CAGR during the forecast period (2021-2027).
Developing countries, are spending extensively on new infrastructure and renovating current infrastructure in order to support their increasing population, industrial growth, and economic development. These countries are focused on establishing a robust infrastructure, which includes motorways, rail projects, airports, and even state-of-the-art buildings. The rising infrastructure development sector in emerging countries is likely to boost the total station market, as total stations are the go-to instruments for any surveying application in construction and industrial projects. Total stations are quick and accurate, reducing human error, and allowing computations to be performed from any angle with less effort and time. In emerging countries, infrastructure is critical to economic growth.
There are a lot of oil exporters prevailing in this region, due to which various other countries are importing considerable amounts of oil form these exporters. Due to this, the number of oil mining activities is rising across this region. According to the United States Energy Information Administration, in 2020, Saudi Arabia holds approximately 15% of the oil reserves that are present across the world. In addition, the oil production capability of this country is nearly 12 million barrels per day. Additionally, the oil export of Saudi Arabia accounts for 70% of the overall exports of the country.
The number of oil mining activities along with oil exports, of Saudi Arabia is rising. Due to this, there are a lot of tendencies for total station devices to penetrate in the region. Hence, the growth of the regional total station market is estimated to witness a spur during the forecast period.
The Brazil market dominated the LAMEA Total Station Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $54.3 million by 2027. The Argentina market is anticipated to grow at a CAGR of 9.6% during (2021 - 2027). Additionally, The UAE market would display a CAGR of 8.8% during (2021 - 2027).
Based on Offering, the market is segmented into Hardware and Services. Based on Type, the market is segmented into Manual and Robotic. Based on Application, the market is segmented into Construction, Mining, Oil & Gas, Agriculture, Utilities, Forensic Investigation, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Total Station Market is Predict to reach $2.1 Billion by 2027, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Beijing UniStrong Science & Technology Corporation Limited, Laser Technology, Inc., Hexagon AB, Topcon Corporation, Trimble, Inc., South Surveying & Mapping Technology Co., Ltd., Guangdong Kolida Instrument Co., Ltd., TI Asahi Co., Ltd., Horizon SG, and Hi-Target Global.
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