Market Research Future (MRFR) expects the construction lasers market 2020 to gain substantial grounds at an exhilarating pace between 2018 and 2023 (evaluation period).
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 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.
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 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 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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