USD 2.6 Billion
Report ID:
SQMIG20G2054 |
Region:
Global |
Published Date: May, 2024
Pages:
202
|Tables:
92
|Figures:
86
Global Construction Lasers Market size was valued at USD 2.6 Billion in 2022 and is poised to grow from USD 2.7 Billion in 2023 to USD 3.76 Billion by 2031, at a CAGR of 4.2% during the forecast period (2024-2031).
The Global Construction Lasers Market has witnessed significant growth and advancements in recent years. The use of laser technology in the construction industry has become increasingly popular, especially among contractors working on large-scale commercial projects. Certainly, the increasing demand for construction lasers driven by activities like installing walls and ceilings in construction infrastructure projects is a highly promising market catalyst. This surge in demand not only directly boosts the market size but also brings about indirect economic benefits. The Global Construction Lasers market is anticipated to make a substantial contribution because of this trend. This trend is supported by the fact that lasers streamline traditional manual tasks like leveling, adjusting, plumbing, and squaring. Additionally, laser technology offers benefits in areas like excavation and pipe installation, with further advancements expected in the future. Globally, new infrastructure projects are being launched to meet the demands of population growth. Both residential and commercial projects are on the rise to accommodate the growing population. The demand for construction lasers is also growing, driven by the development of smart cities in many countries. This surge in infrastructure projects is fueling the growth of the global construction lasers market. For instance, in April 2023, Fluor Corporation announced that it had signed a Memorandum of Understanding (MOU) with Longview Fusion Energy Systems, Inc. to serve as its engineering and construction partner in designing and planning laser function energy for the global energy market.
It thoroughly examines the status of vendors in the Construction Laser Market. It carefully compares and analyzes how vendors contribute to overall revenue, their customer base, and other important metrics. This analysis gives companies a better understanding of their performance and the challenges they face in competing for market share. With this detailed information, vendors can make smarter decisions and develop effective strategies to stand out in the market.
However, there are safety concerns associated with operating these construction lasers. Prolonged exposure poses a significant risk, leading to skin burns and eye injuries. Moreover, the costs of installation and maintenance are high, which could hinder the growth of the construction lasers market during the forecast period.
Global Market Size
USD 2.6 Billion
Largest Segment
Line Laser
Fastest Growth
Rotary Laser
Growth Rate
4.2% CAGR
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The global construction lasers market is segmented based on type, range, application, operation, and region. By type, the market is segmented into combination lasers, line lasers, plumb/dot lasers, and rotary lasers. By range, the market is segmented into 101ft to 200ft, 1ft to 100ft, 201ft and above. By application, the market can be segmented into building construction, landscaping, road construction, tunneling, and excavation. By operation, the market is divided into manual, self-leveling, and automatic-leveling lasers. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Type
The line laser segment holds the biggest share and stands out as the largest market within the construction lasers market. Line lasers project straight horizontal or vertical lines onto surfaces, commonly used for drop ceiling installation, tiling, and wall fixture leveling. They're preferred indoors for their simplicity and precision.
Combination lasers are versatile construction tools that project both lines and dots, offering multiple functionalities in a single device. They're ideal for professionals needing to level, align, plumb, and square during various applications. Contractors favor combination lasers for their adaptability, useful in tasks like drywall work, and electrical, and plumbing installations.
Plumb/dot lasers specialize in creating plumb lines and dots on work surfaces, crucial in tasks requiring precise vertical alignment such as transferring points from floor to ceiling. Electricians and plumbers value them for their simplicity and accuracy.
On the other hand, the fastest-growing segment in the global construction lasers market is Rotary lasers. The shipment of rotatory-level lasers was over 5.1 million in 2023. They're preferred for their long-range visibility and ability to cover large areas. The increasing number of infrastructure development projects worldwide is driving the demand for rotary-level lasers. Both government and private sectors are investing in various infrastructure projects including highways, railroads, housing, and others, which in turn create business opportunities for construction lasers. The construction industry is continuously evolving, adopting new technologies and practices to improve efficiency and quality. Rotary-level lasers are in high demand among engineers due to their extensive use in modern design techniques. As a result, the demand for rotary-level lasers is expected to continue increasing.
Analysis By Range
The largest market segment within the construction lasers market is the 1ft to 100ft range. This dominance can be attributed to the fact that this segment includes the most common construction lasers such as line lasers and rotatory lasers. Lasers in the 1ft to 100ft range are commonly used indoors for tasks such as installing drop ceilings, framing rooms, or aligning electrical conduits. Their compact size, ease of use, suitability for tighter spaces, and low price make them preferred for minimalistic work in confined areas.
Construction lasers in the 101ft to 200ft range cater to larger residential projects or small to medium-sized commercial construction. They strike a balance between precision and coverage, making them ideal for tasks like laying out walls, checking floor levelness, or primary surveys. Users prefer these lasers to achieve higher accuracy over longer distances without needing the most premium devices.
The fastest growing segment within Construction lasers is with a range of 201ft and above and is designed for large-scale projects like civil engineering endeavors, large commercial structure layouts, and extensive land surveying. These lasers are crucial for professionals needing long-range precision over vast distances, often featuring advanced features like grade-matching and digital readouts.
Analysis By Application
In building construction, lasers play a vital role in tasks like leveling floors, aligning walls, ensuring square alignments, and checking land elevations, holding the largest share by application in the market. They need to be highly accurate and reliable for both interior and exterior applications. Landscaping lasers, on the other hand, must be durable enough to withstand outdoor conditions while offering various capabilities to suit different project sizes. For instance, Precisional LLC, a US-based company providing precision measurements and software/data solutions acquired four industrial technology businesses from Trimble, including Spectra Precision Tools, for an undisclosed amount. Spectra Precision Tools is a US-based company operating in construction lasers.
Grade lasers and pipe lasers are commonly utilized in landscaping to measure and align for proper water drainage and level terraces, pools, or gardens. In road construction, lasers need to cover ample distance and provide high visibility even in bright daylight. They are essential for grading, alignment, and monitoring barriers, often working in tandem with heavy machinery.
For tunneling and excavation purposes, lasers must be extremely precise for tunnel alignment and capable of enduring harsh underground working conditions, holding the fastest-growing segment by application in the construction lasers market. Specialized types of lasers like tunneling and pipe jacking lasers ensure accurate bore direction over long distances.
Analysis By Operation
The self-leveling and automatic leveling laser segment is the largest by operation in the market and generated revenue of over USD 1.5 billion in 2022 and is projected to grow at a CAGR of over 4.5% from 2023 to 2031. This segment is driven by various factors including the need for time and labor cost savings, improved accuracy, ease of use, versatility, enhanced efficiency, safety considerations, integration with digital technology, and growth in the construction industry.
Self-leveling and automatic leveling lasers are versatile tools used in a wide range of applications such as leveling, excavation, concreting, and interior and exterior leveling. They are commonly employed in tasks like repairing walls, installing ceilings, preparing concrete frameworks, and leveling floors.
The self-leveling and automatic leveling lasers show steady growth, and the features of these lasers contribute to increased safety by minimizing human errors during grading operations. These lasers continuously monitor and adjust their levels, reducing the likelihood of miscalculation or inaccurate measurement. This not only improves job site safety but also reduces errors that can lead to rework or delays.
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The dominating region in the global construction lasers market is North America, which holds a significant market share. The North American region is expected to experience the most significant growth in the global market for construction lasers due to its early adoption of laser levels across various industries such as consumer goods, automotive, healthcare, and others. The market's growth is fueled by the strong presence of major companies and key players engaged in manufacturing and marketing such devices in the region. This expansion is mainly supported by emerging economies throughout the region.
Additionally, the increasing investments by governments in infrastructure development are predicted to have a positive impact on the regional market's performance during this period. Furthermore, the rapid increase in expenditure to improve existing infrastructure is also expected to provide lucrative opportunities for construction lasers market players across the region in the years to come. In the Americas, the construction lasers market is mature, experiencing steady growth post-recession, largely driven by the recovery of the construction sector. Recent trends include the adoption of green construction practices and the integration of Building Information Modeling (BIM) technologies.
The EMEA region exhibits diverse market dynamics, with EU countries leading in innovative construction technologies, driven by strict construction accuracy and safety regulations. Initiatives like the EU's Horizon 2020 program support research and technological investments. In the Middle East, particularly in GCC countries, substantial construction activity is observed, fueled by events like the FIFA World Cup 2022 in Qatar, which has increased demand for advanced construction tools. Africa presents untapped potential despite being in a nascent stage, with a gradual rise in demand for sustainable and efficient construction practices driven by urban development.
The Asia Pacific region is the fastest-growing region in the global construction lasers market. The significant demand for construction lasers is due to infrastructure development and rapid urbanization, especially in emerging economies. Consumer needs focus on integrating modern technologies into construction planning and ongoing smart city projects. Increased investments and government-led infrastructure projects incorporating advanced construction methodologies are also contributing to market growth.
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Drivers
Ever-evolving Construction Industry
Growing Demand from Land Surveying
Smart City Projects
Restraints
Safety Measures
High Cost of Installation and Maintenance
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The global construction laser market is highly competitive and characterized by the presence of several key players. These players compete based on factors such as manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction lasers companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
For instance, in January 2023, Thales and Bharat Dynamics Limited, the Government of India Enterprise, signed a Memorandum of Understanding for setting up manufacturing facilities in India for precision strike 70M Laser guided rockets (FZ275 LGR). Through this agreement, BDL will become a part of the FZ275 LGR Global Supply Chain, providing an opportunity to exploit Indian-manufactured components to existing and future 70mm laser-guided rocket customers.
Top Player’s Company Profile
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global construction laser market analysis, several factors shape the path of the construction laser market. The construction lasers market is expected to witness growth during the forecast period, driven by increased consumer awareness in developing nations like India, Brazil, Mexico, and Arab countries. Shortening construction project deadlines has increased the adoption of construction lasers to ensure timely project completion. The building construction is likely the largest in terms of market share due to the widespread use of construction lasers in various building projects, including residential, commercial, and industrial construction. The tunneling and Excavation segment may not be as large as building construction or road construction, but it is growing steadily as infrastructure projects involving tunneling and excavation increase globally. The global trend of utilizing modern technology in construction has led to the widespread adoption of construction lasers, enabling workers and contractors to carry out construction activities with precision and efficiency. The reduction in production costs, attributed to research and development (R&D) and the emergence of new technologies, has made construction lasers more accessible to cost-sensitive markets, particularly in the Asia-Pacific region. Asia-Pacific is expected to continue rapidly increasing during the forecast period. This is due to rapid urbanization, the presence of emerging economies, and the increase in construction activities in residential and commercial infrastructure projects in the region. Market players have adopted product launches as their primary developmental strategy to offer improved products that meet customer demands. Additionally, acquisitions and expansions are strategies adopted by players to enhance their offerings and improve production processes. These strategies have helped companies develop technologically advanced products and expand their market share across different geographical regions.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.6 Billion |
Market size value in 2031 | USD 3.76 Billion |
Growth Rate | 4.2% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Recent Developments
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Construction Lasers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Construction Lasers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Construction Lasers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Construction Lasers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG20G2054
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