ID: MRFR/CO/5019-HCR | October 2018 | Region: Global | 100 pages
The construction lasers’ market share had been valued at a global market figure worth USD 2,394.6 million during the historic forecast period that had ended in 2019. For the ongoing forecast period of 2021-2028, the global market is predicted to have the ability to reach a global market value worth USD 3,363 million by attaining a global market CAGR of 4.4% by the end of the period in 2028.
Globally, the construction sector is likely to be witnessing rapid growth due to the increasing degree in the number of infrastructure projects and large construction projects for both the commercial and residential sectors. There is a wide variety of construction lasers that are available today and have further, have applications in both indoor and outdoor use. Construction lasers or laser levels, as a part of the market, are increasingly being used in commercial projects which is likely to have encouraged the demand in traditionally manual processes of purposes like leveling and further, adjusting among other measurement-related applications.
The outbreak of the pandemic has been a major concern for the construction lasers’ market size. The lockdown and halt in the market due to the restrictions imposed has been a major cause of concern and hence, there is a raising need for funding to expand the product portfolio that will help in reviving the market demand and establish a smooth supply chain mechanism.
The construction lasers’ market share has been on a rise since the enhancement of the efforts that have been raised by the markets that are functional in various market locations. The companies that are increasing in the market are mentioned as follows:
There has been a rapid degree of expansion of construction activities that finds its roots primarily in the rising growth of the global population. The ongoing commercial and residential projects are likely to accommodate the changing consumer needs and demands. These are acting as a significant factor that is fostering the growth of the construction laser market during the forecast period that will be ending in 2028. Emerging economies that are prominent regions of the construction lasers market size are of particular note due to the contribution of the governments of these countries. They are investing heavily in the developing market infrastructure. The rise of smart cities is acting like a prudent step forward in the construction industry as they are catering to and further, are anticipating the demand for efficient cities, particularly in population-rich regions of the globe in the global market premises especially during the forecast period that will be ending in 2028.
The construction laser market share does have some setbacks emerging which are likely to challenge market growth and hence, restrain it from growing as per the predictions that have been laid for the forecast period of 2021-2028. There are many safety concerns with regards to skin exposure to lasers and their ill effects such as skin burns, and possible adverse effects to the naked eye; hence, there is required use of safety gear. Additionally, some laser levels are likely to emit harmful rays which can adversely affect health in the long run, especially during the forecast period that will be ending in 2028.
Notably, the construction lasers, as a part of the construction lasers market value have proven to be highly effective in reducing issues related to human error which is increasingly resulting in enhancing the high-quality of buildings. However, the trends suggest that there are not all types of construction lasers are harmful. Also, there has been an ongoing research and development initiative towards the advancement of the construction industry and the associated safety concerns that are likely to offer solutions that mitigate these challenges in the future, as a part of the forecast period that ends in 2028. A higher degree of accuracy is deemed to be highly important in the construction industry to ensure a longer degree of lasting and high quality of the constructed building; to this end, the technological advancements that are a part of the laser technology are anticipated to increase future demand.
The global distribution of the market segments and their role followed by the rising ability to meet the rising needs of the target audience has an important role to play in helping the market attain a substantial CAGR and hence, help the market grow at an excellent market rate. The global market has been segmented based on the following factors:
Global Construction Lasers Market segmentation based on the Type
Global Construction Lasers Market segmentation based on the Range
Global Construction Lasers Market segmentation based on the region
The emerging economies that are a part of the North American region and the global governments of these places are investing significantly in infrastructure development, and are further, offering a favorable environment for the growth of the construction lasers market. There has been a rapid degree of increase in the expenditure on improving the existing infrastructure that provides new opportunities to the construction lasers market during the forecast period that ends in 2028.
The construction lasers market report offers a comprehensive view of the construction laser market during the forecast period of 2021-2028. The report covers the significance of macro and microeconomic factors which are expected to influence the market have been recorded and analyzed in the report by the experts along with the current market status followed by various construction industry trends. The recent developments of the market in tandem with projections for the market are also a part of the report. It also conducts a thorough discussion on various laser products that are used in construction such as rotary lasers, plum/dot lasers, and rotary lasers. The construction lasers, as a part of the market, are used in residential and commercial sectors, and further, their applications for the same have been analyzed accordingly in the report. The global analysis of the construction lasers market covers regions like North America, Europe, Asia Pacific and the rest of the world. The report covers the outbreak of the pandemic and the nature of the services that will help in reviving the losses that have been a part of the market during the outbreak in 2020.
|Market Size||2030: Significant Value|
|CAGR||Substantial CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Range|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Topcon Positioning Systems Inc., QualComm, HEXAGON, Johnson Level & Tool Mfg. Co. Inc., Kapro Industries Ltd., Spectra Precision, STABILA Messgeräte Gustav Ullrich GmbH, AdirPro, Stanley Black & Decker, Inc., Robert Bosch GmbH, DotProduct, and Pacific Laser Systems|
|Key Market Opportunities||
|Key Market Drivers||Growth of the global population|
Frequently Asked Questions (FAQ) :
Increasing adoption of laser technology for advanced construction designs in rising numbers of infrastructure & large construction projects in commercial as well as residential sector, are major tailwinds pushing the growth of the global construction lasers market.
Concerns regarding the adverse effects of long-term exposure to lasers and complexities related to calibration & maintenance of the equipment are the major growth impeders for the global construction lasers market.
North America holds the largest share in the global construction lasers market, followed by Europe and the Asia Pacific, respectively.
Topcon Positioning Systems Inc., Pacific Laser Systems, QualComm, DotProduct, HEXAGON, Robert Bosch GmbH, Johnson Level & Tool Mfg. Co. Inc., Stanley Black & Decker, Inc., STABILA Messgeräte Gustav Ullrich GmbH, Kapro Industries Ltd., AdirPro, and Spectra Precision, are some of the top players operating in the global construction lasers market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global construction lasers market adopt to gain a larger competitive advantage.