Allied Market Research recently 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”. According to the report, the global construction lasers market accounted for $2.39 billion in 2017 and is expected to reach $3.36 billion by 2025, growing at CAGR of 4.4% during period 2018–2025.
Rapid surge in construction industry, growth in urbanization, and wide range of application of construction lasers in modern buildings have boosted the growth of the global construction lasers market. However, harmful effects of laser and high installation cost coupled with frequent maintenance hamper the market growth. On the contrary, rise in demand from the developing economies, high investments in R&D, and advancements in technology are expected to create lucrative opportunities for the market players in the near future.
Line laser levels segment dominates the market
The line laser levels segment held the largest market share in 2017, contributing about 41% share in the market and is expected to continue its dominance throughout the study period. However, the rotary laser levels segment is expected to register the fastest CAGR of 5.2% during the forecast period. The other segments including plumb/dot lasers and others are also estimated to manifest gradual growth.
201FT and above segment to portray fastest growth by 2025
The 201FT and above segment is projected to manifest the fastest CAGR of 4.6% during the study period. However, the 1FT to 100FT segment held the largest share in 2017, contributing more than half of the market share and is expected to continue the trend. The 101FT to 200FT segment is also expected to manifest gradual growth.
Asia-Pacific to create lucrative opportunities by 2025
The Asia-Pacific region held the largest share in 2017, contributing about 36% of the total market revenue. Moreover, the region is projected to portray fastest growth with CAGR of 5.7% during the forecast period. The other regions that are analyzed in the report are North America, Europe, and Latin America, Middle East and Africa are analyzed in the report.
Major market players
The major market players are analyzed in the report including AdirPro, Hilti Corporation, Kapro Industries Ltd., Robert Bosch GmbH, Trimble, Inc. (Spectra Precision), Stanley Black & Decker, Inc., Johnson Level & Tool Mfg. Co., Inc., Pacific Laser Systems (Fortive Corporation), STABILA Messgerte Gustav Ullrich GmbH, and Topcon Corporation (Topcon Positioning Systems, Inc.).
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