A handheld laser meter is a portable device used for measuring distances by emitting a laser beam toward a target surface and then measuring the time it takes for the laser beam to reflect to the device. It is compact, easy to use, and provides precise measurements over short and long distances, making them essential tools for professionals who require accurate distance measurements in their work.
Sizing and Forecast
The handheld laser meter market size has grown strongly in recent years. It will grow from $4.42 billion in 2023 to $4.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increased investment in research and development activities, increased use of laser sensors, rise in diverse industries, increased population, increased regulations and standards in industries.
The handheld laser meter market size is expected to see strong growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing consumer demand, rising demand for precision in construction, increased focus on infrastructure development, growing real estate and interior design sectors, increasing energy-efficient solutions. Major trends in the forecast period include technological advancements in laser measurement, digitalization and integration with smart devices, collaboration with e-commerce platforms for increased market reach, integration of augmented reality (ar) for enhanced functionality, development of handheld laser distance meter products.
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Segmentation & Regional Insights
The handheld laser meter market covered in this report is segmented –
1) By Category: With Bluetooth, Without Bluetooth
2) By Range: Up To 30 Meters, 30-100 Meters, Above 100 Meters
3) By Distribution Channel: Direct Sales, Indirect Sales
4) By End User: Building And Construction, Mining, Military, Other End Users
North America was the largest region in the handheld laser meter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the handheld laser meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing construction and real estate activities are expected to propel the growth of the handheld laser meter market going forward. Construction and real estate activities involve a broad spectrum of tasks associated with property creation, administration, and utilization. These tasks encompass constructing buildings, infrastructure, and facilities and engaging in the acquisition, disposition, leasing, and oversight of real estate properties. The increasing construction and real estate activities are due to rapid urbanization, infrastructure development, and a focus on efficiency and accuracy in building projects. Handheld laser meters are valuable tools in construction for their accuracy, speed, ease of use, versatility, consistency, and documentation capabilities, contributing to improved efficiency, productivity, and quality in construction projects. For instance, in December 2021, according to the United States Census Bureau, a US-based government agency, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, with a growth rate of 10%. Therefore, the increasing construction and real estate activities drive the handheld laser meter market.
Key Industry Players
Major companies operating in the handheld laser meter market are Robert Bosch GmbH, Danaher Corporation, Stanley Black & Decker Inc., Hilti Corporation, Makita Corporation, Bosch Power Tools, Fluke Corporation, Teledyne FLIR LLC, Hexagon AB, Nikon Corporation, Trimble Inc., Topcon Corporation, Spectra Precision, Leica Geosystems AG, Faro Technologies Inc., Cole-Parmer India Pvt. Ltd., L.S. Starrett Company, Transact Inc., Zircon Corporation, Acro Enterprise, Mileseey Technology Co. Ltd., Precaster Enterprises Co. Ltd., Prexiso AG, Stabila Inc, Entek Engineering LLC
The handheld laser meter market report table of contents includes:
1. Executive Summary
2. Handheld Laser Meter Market Characteristics
3. Handheld Laser Meter Market Trends And Strategies
4. Handheld Laser Meter Market – Macro Economic Scenario
5. Global Handheld Laser Meter Market Size and Growth
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32. Global Handheld Laser Meter Market Competitive Benchmarking
33. Global Handheld Laser Meter Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Handheld Laser Meter Market
35. Handheld Laser Meter Market Future Outlook and Potential Analysis
36. Appendix
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