Hydrographic Survey Equipment Market Size To Grow At A CAGR Of 6.8% In The Forecast Period Of 2022-2027
Hydrographic Survey Equipment Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2027 | EMR Inc.
The ‘Global Hydrographic Survey Equipment Market Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global hydrographic survey equipment market, assessing the market on the basis of its segments like type, depth, platform, application, end user, and major regions.
Hydrographic Survey Equipment Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 3 billion
• Forecast CAGR (2022-2027): 6.8%
• Forecast Market Size (2027): USD 4.1 billion
|Market Size in 2021||USD 3 billion|
|Revenue Forecast in 2027||USD 4.1 billion|
|Growth Rate CAGR||6.8%|
|Major Players||EdgeTech, Valeport Ltd, CEE HydroSystems, SyQwest Incorporated, and Teledyne Technologies Incorporated, among others.|
The global hydrographic survey equipment market is expected to register growth during the forecast period on account of the surging demand for maritime infrastructure development as well as safety. These surveys provide information about shorelines, echo soundings, tide current flows, tidal data, and sea floors along with submerged obstruction readings for marine activities impacting marine navigation and industries. Expansion and growth of maritime trade is likely to fuel the market growth of hydrographic survey equipment across the globe.
The growing focus on ocean energy and rise in ocean mining activities are expected to drive the demand for hydrographic survey equipment over the upcoming years. The increase in the construction of offshore wind farms is likely to create new opportunities for market players working in this domain. Going further, the growing advancements in technology are driving the hydrographic survey equipment market growth.
Hydrographic Survey Equipment Industry Definition and Major Segments
Hydrographic survey equipment refers to those devices and machines that are used for hydrographic surveys. Hydrographic surveying is the scientific measurement of characteristics that affect offshore oil drilling/exploration, dredging, marine construction, and maritime navigation, among related activities. A key objective is to gain informative data that is essential for making nautical charts that display navigation channels, water depths, structures, and breakwaters, among others, which are utilised by mariners.
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Based on type, the market is segmented into:
• Sensing Systems
• Positioning Systems
• Subsea Sensors
• Unmanned Vehicles
By depth, the market is bifurcated into:
• Shallow Water
• Deep Water
On the basis of platform, the market is classified into:
• Surface Vessels
• USVs and UUVs
Based on application, the market is segmented into:
• Hydrographic or Bathymetry Survey
• Port and Harbour Management
• Offshore Oil and Gas Survey
• Cable or Pipeline Route Survey
By end user, the market is categorised into:
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Hydrographic Survey Equipment Market Trends
The increasing number of offshore end energy projects and growing transportation are likely to push forward the market growth of hydrographic survey equipment over the coming years. An upsurge in the adoption of the autonomous underwater vehicles and growing demand for better surveying data as well as mapping for oceanographic studies and coastal security is expected to enhance the market growth.
Geographically, the Asia Pacific region is anticipated to drive the hydrographic survey equipment market growth on account of the surging investment by various government bodies among port development activities and coastal zone management. Moreover, an upsurge is expected in the usage of hydrographic survey equipment in countries like India and China for measuring the physical features present in the water.
Meanwhile, the North American region is anticipated to gain momentum over the coming years in the hydrographic survey equipment market growth on account of the increase in demand from several end-users like research, defence, and commercial sectors. The strong presence of key market players such as Teledyne Technologies Incorporated, and EdgeTech, among others, is likely to promote the market growth of hydrographic survey equipment across the region.
Key Market Players
The major players in the global hydrographic survey equipment market report are:
- Valeport Ltd
- CEE HydroSystems
- SyQwest Incorporated
- Teledyne Technologies Incorporated
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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