Construction Lasers Market size | Share, Growth, Industry Size, Key Players, Segments, Latest Trends and Forecast 2021-2027
Market Dynamics
Market Drivers and Primary
Barriers
COVID-19 has had a profound
impact on the construction industry; with a majority of construction projects
getting delayed and are expected to take time to resume. This significant
disruption in the industry has been caused by the dramatic increase in the
fragility of the supply chains. The governments everywhere are taking necessary
steps to revitalize the construction industry in the coming months with proper
consultation as well as constant dialogue. It is projected that the negative
impact on the construction industry can have some influence over the Construction Lasers Market Size in
the time to come.
With that said, the increasing
research & development (R&D) activities in the construction field with
the aim to induce its development can lead to better growth of the construction
lasers market. The laser technology has become immensely popular in the
construction industry, with rising applications in large-scale residential and
commercial projects. Construction lasers are available in various types, which
have widespread use in both outdoor and indoor applications. The technology
finds extensive use in several applications including aligning, leveling, and
other manual processes within the construction industry.
The growing number of
infrastructure projects across the world is another important growth booster in
the market, which is the result of the rising urbanization and
industrialization in recent years. Additionally, with the emergence of smart
cities across countries, the demand for construction lasers can soar
tremendously over the ensuing period. Emerging countries are increasing their
spending on residential and commercial construction projects, which leads to
more number of construction projects, and better business scenario for
construction lasers.
Market Segmentation
The construction lasers industry
has been considered for product and range.
The segments as per product
include plumb/dot laser, liner laser level, rotary level laser, and others.
Rotary level laser can generate the highest demand in the market, given its
ability to facilitate straight, leveled and accurate measurements.
Range-wise market segmentation
comprises 101ft to 200ft, 201ft and above and 1ft to 100ft.
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The construction lasers market size
has been regionally segregated into Europe, Asia Pacific or APAC, North
America, and the rest of the world or RoW.
North America is known for being
quick in adopting technologically innovative construction tools and equipment
that can bring down human errors and boost productivity. This practice has
helped the region clinch the top position in the market for construction
lasers. Construction lasers have gained immense favor in the regional
construction industry in conjunction with the emergence of smart cities and the
surge in infrastructure projects.
The European market benefits
from the soaring number of construction sites, high demand for 3D laser scanner
among manufacturers to reduce rework, and the mounting need for faster task
completion, and better quality control. The emerging trend of smart cities,
rising popularity of the laser technology, surge in infrastructure projects and
the overall growth of the construction industry help the construction lasers
market earn massive revenues in the region.
APAC consists of a huge number
of emerging countries that are observing fast-paced infrastructural
development, as a result of the expanding population as well as rising demand
for the latest technologies that can expedite construction activities. The hike
in outdoor applications of construction lasers, with increasing use in brick
alignment, basic surveys, site layouts and land elevations can also work in
favor of the regional market.
Leading Players
Leading competitors in the
market for construction lasers are Johnson Level & Tool Mfg. Co. Inc.,
HEXAGON, Pacific Laser Systems, AdirPro, Topcon Positioning Systems Inc.,
Stanley Black & Decker, Inc., STABILA Messgeräte Gustav Ullrich GmbH, Kapro
Industries Ltd., Spectra Precision, Robert Bosch GmbH, DotProduct, QualComm, to
list a few.
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