Laser Distance Meter Market

Laser Distance Meter Market Outlook

The laser distance meter market is likely to record a strong CAGR of 2% during the forecast period. The laser distance meter market is currently valued at US$ 132.42 Mn in 2021 and is likely to reach US$ 158.26 Mn by 2032.

Sales of laser distance meter have risen owing to the increasing use of laser distance meter in the construction industry for fast and precise determination of floor dimensions.

Increased use of laser distance meter by many solar energy system providers for the purpose of board maintenance and installation are also projected to contribute to the growth of the laser distance meter market share.

The report sheds light on the factors improving the sales of laser distance meter, and, in turn, the opportunities for market players. However, the laser distance meter market also faces some challenges, which might limit the laser distance meter market share from reaching its potential.

Some of the key stroboscope market trends promoting the demand for laser distance meter are progressive use in numerous applications including finding the length of electrical cabling and furniture, interior designing and carpet flooring.

What are the Key Dynamics to the Laser Distance Meter Market Share

The manufacturers of the laser distance meter market are focusing on designing and developing advanced laser distance meter with improved capacity, high quality display, improved resistance, and dropping tests.

These parameters are fueling the growth in the sales of laser distance meter across various regions during forecast period at significant CAGR.

• In February 2019, Nikon Vision Co., Ltd., one of the prominent manufacturers of laser distance meter market launched MONARCH 2000 laser distance meter with a long-distance measurement capability of a distance of 1,820 meters. This laser meter has various innovative and advanced features, such as an automatic display brightness modification function and red OLED internal display.
• In February 2018, Hexagon AB (Leica Geosystems), key manufacturer of laser distance meter market launched Leica DISTO™ X3 and X4 handheld laser distance meter specially designed for the construction industry. It is dust- and water-protected and it can withstand drop trials from a height of 2 meters.

With the launch of the technologically and revolutionary advanced laser distance meters, the key players are aiming to consolidate a robust position in the demand for laser distance meters during the forecast period.

Nikhil Kaitwade

Principal Consultant

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Which Region holds the Highest Growth Potential in the Laser Distance Meter Market

On the basis of the geography, FMI has divided the global regions into the seven key regions, North America, Latin America, Europe, East Asia, South Asia, Middle East & Africa, and Oceania.

In these key regions, North America is anticipated to hold a prominent share in terms of value in the laser distance meter market owing to rapid growth in the military sector and the construction sector.

The value share of North America is followed by the European countries. Countries in Europe such as Germany and France are expected to hold significant share in laser distance meter market due to rapid growth in construction and healthcare field.

These parameters are propelling the growth of laser distance meter market across various regions during forecast period at significant CAGR.

How is the Competitive Landscape in the Laser Distance Meter Market

The key players of the laser distance meter market are focusing on enhancing and adopting strategies like enhancing the durability, sizes and its use to thrive business. This is driving the sales of laser distance meter.  

Some of the key participating players indulged in the sales of laser distance meter are:

• Nikon Vision Co. Ltd.
• Hilti, Inc
• Fluke Corporation
• Makita U.S.A. Inc.
• Prexiso AG
• Precaster Enterprises Co. Ltd.
• Hexagon AB (Leica Geosystems)
• STABILA Measuring Instruments Gustav Ullrich GmbH
• Trimble Inc.
• Stanley Black & Decker Inc., and The L.S. Starrett Company Ltd.

These market players are anticipated to drive the laser distance meter market by introducing new products and expanding geographically.

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