Construction Lasers Market to Reach $3.3 Bn, Globally, by 2025 at 4.4% CAGR, Says Allied Market Research
PORTLAND, Oregon, September 17, 2018 /PRNewswire/ --
Considerable growth in the construction industry, rise in urbanization, and advancements in technology would propel growth in the global construction lasers industry
Allied Market Research published a report, titled, Construction Lasers Market by Product (Rotary Laser Level, Line Laser Level, Plumb/Dot Laser Level, and Others) and Range (1ft to 100ft, 101ft to 200ft, and 201ft and above): Global Opportunity Analysis and Industry Forecast, 2018-2025. The report offers an extensive analysis of key winning strategies, changing dynamics, current market size & forecast, regional landscape, and market competition. As per the report, the global construction lasers market garnered $2.4 billion in 2017, and is estimated to reach $3.3 billion by 2025, growing at a CAGR of 4.4% from 2018 to 2025.
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Considerable growth in the construction industry across the globe and rise in urbanization are factors that drive growth in the global construction lasers market. However, high initial & maintenance costs and safety concerns regarding lasers would hamper growth in the industry. Conversely, increase in R&D investments, rise in demand from emerging economies, and advancements in technology would create new opportunities in the industry.
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Line laser levels dominate, but rotary laser levels to overtake by 2025
Line laser levels contributed to more than one-third of total market share in 2017, owing to its application in almost every construction activity. However, rotary laser levels would supersede this segment in terms of revenue by 2025 with fastest CAGR of 5.2% from 2018 to 2025. Its ability to take complex measurements, provide efficiency, and offer precision in measurements are the factors responsible for the fastest growth. The report also analyzes plumb/dot lasers among others.
1ft to 100ft range dominates in terms of revenue
The 1ft to 100ft range accounted for more than half of the total market share in 2017, owing to its wide adoption for rapid & precise measurements and less per unit & maintenance costs. On the other hand, the 201ft and above range would grow at the fastest CAGR of 4.6% during the forecast period. The factor responsible for the highest growth rate is increase in size of construction sites. The report also discusses the 101ft to 200ft segment among others.
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Asia-Pacific: The highest revenue generating & fastest growing region
Asia-Pacific region contributed to more than one-third of the total market share in 2017 and will continue to maintain its lion's share by 2025. Moreover, the region would register the highest CAGR of 5.7% from 2018 to 2025. This region would be lucrative throughout the forecast period owing to presence of key market players and rise in construction activities in the region. Other regions explored in the study include North America, Europe, and Latin America, Middle East and Africa (LAMEA).
Leading industry players
Key market players operating in the industry include AdirPro, Hilti Corporation, Stanley Black & Decker, Inc., Kapro Industries Ltd., Johnson Level & Tool Mfg. Co., Inc., Robert Bosch GmbH, Pacific Laser Systems (Fortive Corporation), Trimble, Inc. (Spectra Precision), STABILA Messgeräte Gustav Ullrich GmbH, and Topcon Corporation (Topcon Positioning Systems, Inc.). New product launches, joint ventures, expansions, mergers & acquisitions, partnerships, collaborations, and others are some of the strategies implemented by them to gain a lead position in the industry.
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