Construction Lasers Market Trends

Drivers

Ever-evolving Construction Industry

• Construction activities and infrastructure development have significantly increased globally to address accommodation issues arising from the rapid growth of the global population. The need for technologically advanced construction equipment to expedite building construction processes is driving high demand for construction lasers, leading to significant expansion of the global construction lasers market.

• The adoption of laser technology in the building and construction industry has resulted in a notable reduction in human errors. This decrease in errors has led to a significant decrease in catastrophic events caused by construction failures. Consequently, the demand for construction lasers is surging to enhance accuracy in infrastructure development, further fueling the expansion of the global construction lasers market.

• Equipment manufacturers are introducing a wide range of compact yet highly efficient construction lasers suitable for both commercial and residential projects. The increasing reliance of contractors and civil engineers on construction lasers to assist in conventional manual procedures such as leveling, plumbing, squaring, and others is positively impacting the global construction laser market's growth.

Growing Demand from Land Surveying

• There is a larger need for building and surveying equipment, owing to population growth that has led to a high demand for land and land surveying. Additionally, in the mining, oil, and power & energy sectors, exploration of unexplored terrain is inevitable. Due to this, there is a high demand for land surveying equipment globally.

• Modern instruments such as 3D laser scanners, GNSS lasers, level systems, and UAVs are used for land surveys. With the use of construction lasers and drones, land surveyors can now more easily collect data that is automatically shown on their screens and assess majors and accuracy.

• Since land survey equipment can accurately major undiscovered territory, the market for land survey equipment has grown substantially. The market for land survey equipment systems is presently valued at USD 7.6 billion and by the end of 2031, it is expected to expand at a CAGR of 4.6% to reach USD 12.1 billion.

Smart City Projects

• The growth of the market is being driven by the increase in infrastructural projects worldwide. Construction lasers play a crucial role in improving project accuracy and reducing human errors. Their widespread use in the development of smart cities, aimed at constructing long-lasting, high-quality buildings, is further fueling market growth.

• Technological advancements like the introduction of three-dimensional construction laser scanners are expediting task completion by providing immediate information and enhancing quality control, thus reducing reworks on site. This is contributing significantly to market growth. In a study published in Minerals, a 3D laser scanning technology-based deformation measurement and monitoring method is proposed for safe and effective tunnel construction. A greedy triangulation and B-spline interpolation were used to fit the tunnel point cloud and characterize the tunnel deformation.

• Moreover, the rising demand for construction lasers among contractors and civil engineers to assist in manual procedures such as plumbing, squaring, and leveling is positively impacting market growth.

• Furthermore, improvements in existing infrastructure and government initiatives to promote infrastructure development are creating a favorable outlook for the market.

• For instance, in November 2021, the federal government announced the Investment and Jobs Act in its annual bill, in which it allocated $500 million for accelerating its Smart City initiative and increasing the number of smart cities in the country. Additionally, the Indian government allocated $868 million for Smart City development in FY21-22, which was an increase from $457 million in FY 2020-2021. Therefore, the increasing number of smart city projects across the group is driving the construction laser market.

Restraints

Safety Measures

• Direct exposure to lasers can pose health hazards. Concerns about the adverse effects of long-term laser exposure and the complexities associated with calibrating and maintaining the equipment are likely to pose potential threats to the expansion of the global construction lasers market in the coming years.

High Cost of Installation and Maintenance

• It is one of the major factors that is expected to hinder the global construction laser market. Construction lasers can be costly, involving the purchase and installation and machinery maintenance.

• Furthermore, there is a shortage of technical expertise and skilled labor for the proper installation of construction lasers. This scarcity raises the demand for skilled workers and subsequently increases their costs.