Rockville, Nov. 22, 2022 (GLOBE NEWSWIRE) — According to a new report by market research and competitive intelligence source Fact.MR, the global market for construction lasers is anticipated to reach US$ 2.67 billion in 2022 and grow at a steady CAGR of 4.7% from 2022 to 2032. Due to the excellent use case of construction lasers in smart construction, the market is anticipated to increase 1.6X by 2032.
Construction lasers are now widely used in diverse businesses, whether the work is done indoors or outdoors. However, a wide range of plumb, vertical, and horizontal applications in both exterior and interior projects can be handled by lasers.
This Fact.MR study predicts that 88% of the main tasks in the construction sector will be automatable, either fully or partially, in the near future. This is known as ‘Construction 4.0’ today. It became more and more obvious that the construction sector will look very different after COVID-19 as construction sites all across the world slowly began to open up following lockdown.
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Prefab buildings, for instance, are constructed from parts such as walls and roofs that are manufactured in factories and transported to the construction site for assembly. They can be built faster and for less money as a result. The design and production processes have been enhanced by digital technologies, including robotics, Internet of Things, artificial intelligence, and construction lasers.
Key Takeaways from Market Study
- The global construction lasers market is projected to expand at a CAGR of 4.7% and create an absolute dollar opportunity US$ 1.68 billion by 2032.
- The market exhibited 2.1% CAGR from 2017 to 2021.
- Under type of laser, line level construction lasers dominate the market and are valued at US$ 863.7 million in 2022.
- 50 meter to 100 meter range dominated with 22.6% market share in 2022.
- Demand for construction lasers is expected to increase at CAGRs of 5.5% and 4.5%, respectively, in East Asia and North America.
“Advanced smart construction lasers in the construction industry will provide high revenue growth opportunities for market players,” says a Fact.MR analyst.
Segmentation of Construction Lasers Industry Research
- By Type of Laser :
- Spot/Plumb/Dot Lasers
- Line Level Lasers
- Single Beam Laser
- Multi-Beam Lasers
- Rotary Level Lasers
- Fixed Rotation Speed
- Variable Rotation Speed
- Combination Lasers (Emit both lines and spots)
- Others (Pipe Lasers, Grade Lasers Etc.)
- By Operation :
- Manual-Leveling Lasers
- Self-Leveling and Automatic-Leveling Lasers
- By Range :
- Up to 25 Meters
- 25 Meters to 50 Meters
- 50 Meters to 100 Meters
- 100 Meters to 150 Meters
- 150 Meters to 200 Meters
- Above 200 Meters
- By Application :
- Distance Measuring
- Floor Leveling
- Height Measuring
- Elevation Measurements
- Site Layout
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Construction lasers are used in a variety of ways in the construction sector, from surveys to inspections. Through the network of dealers in many locations, many important industry players are securing a firm foothold in the market. Additionally, manufacturers offer cutting-edge technology that gives surveyors, civil engineers, contractors, equipment owners, and operators a competitive edge in the market.
Further, addressing issues like boosting profits, ensuring top-notch workmanship, boosting productivity, reducing operating costs, and improving job site safety will lead to a stronger link between a brand and its customers.
Key Companies Profiled
- Hilti Corporation
- Kapro Industries
- Leica Geosystems (Part of Hexagon)
- Milwaukee Tool
- Pacific Laser Systems (Fluke Corporation)
- Paragon Instruments
- Robert Bosch
- Spectra Precision
- STABILA Messgerate Gustav Ullrich
- Stanley Black & Decker
- Topcon Positioning Systems
Why is the U.S. Construction Lasers Market Expected to Be Highly Attractive?
In terms of spending, the U.S. construction sector is among the biggest in the world. The construction sector as a whole is growing, with the United States experiencing one of the fastest rates of expansion. In the United States, the construction industry is valued at US$ 1.9 trillion and contributed 8.5% to the country’s GDP in 2021. Additionally, because of its increasing trend towards Construction 4.0, construction companies are investing heavily in advanced and efficient equipment.
Further, development of the United States construction economy will necessitate an increase in productivity and expansion. Due to the rising demand for cutting-edge construction and surveying equipment, construction laser production will continue to rise. These factors will drive the growth of the United States market in the long run and create an absolute dollar opportunity of US$ 301.2 million over the 2022-2032 period.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global construction lasers market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type of laser (spot/plumb/dot lasers, line level lasers (single beam lasers, multi-beam lasers), rotary level lasers (fixed rotation speed, variable rotation speed), combination lasers (emit both lines and spots), others (pipe lasers, grade lasers etc.)), operation (manual-levelling lasers, self-levelling and automatic-levelling lasers), range (up to 25 meters, 25 meters to 50 meters, 50 meters to 100 meters, 100 meters to 150 meters, 150 meters to 200 meters, above 200 meters), and application* (indoor (distance measuring, levelling, height measuring, aligning), outdoor (plumbing, surveying, elevation measurements, site layout)), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Used Construction Equipment Market: according to the latest research, study by Fact.MR Used construction equipment market is expected to grow at a high pace during 2021-2031. Increasing demand for cost-effective equipment to complete construction projects increases the requirement of used construction equipment.
Mobile Construction Cranes Market: The global mobile construction cranes market is estimated at USD 10.5 billion in 2022 and is forecast to surpass USD 15.5 Million by 2032, growing at a CAGR of 4% during 2022-2032. The global mobile construction cranes market accounts for ~5% of overall market valuation generated by global construction machinery market.
Construction Equipment Rental Market: The global construction equipment rental industry is expected to be worth US$ 121 Billion in fiscal year 2022, up from US$ 115 Billion in fiscal year 2021. The industry increased by 4.3% year on year during the last year.
Construction Safety Net Market: Construction safety net is a safety net which is used to protect the people from fall and injury during the construction work. Construction safety net is helpful for the labor as well as for the people who are nearby or below the construction building.
Construction Equipment Attachment Market: The construction equipment attachment market size is poised to expand 1.3X in terms of value, and is foreseen to progress at a CAGR of 2.4% during the forecast period (2020 to 2030).
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