Laser Screed Machine Market was valued at USD 0.83 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 8.7% from 2024 to 2030.
As we look ahead from 2023 to 2033, the laser screed machine market is poised for even more significant expansion. Projections indicate that the market could reach a valuation of approximately $2.5 billion by 2025 and potentially $4.8 billion by 2032, representing a CAGR of approximately 7.2% during this forecast period. Several factors contribute to this optimistic outlook:
Technological Advancements: The integration of automation and digital controls in laser screed machines enhances precision and operational efficiency, making them more appealing to contractors.
Increased Construction Activities: Global infrastructure development, particularly in the Asia-Pacific region, is driving the demand for advanced construction equipment.
Emphasis on Quality and Sustainability: There's a growing focus on achieving superior floor flatness and levelness, which laser screed machines provide, leading to reduced material wastage and improved project timelines.
However, the market is not without challenges. The high initial investment for laser screed machines can be a deterrent for small to medium-sized construction firms. Additionally, the need for skilled operators to handle these advanced machines poses a potential hurdle. Despite these challenges, the benefits offered by laser screed machines, such as improved efficiency and superior finish quality, are expected to outweigh the drawbacks, leading to sustained market growth.
In my experience working on large-scale commercial projects, the adoption of laser screed machines has been transformative. The precision and speed they offer not only enhance the quality of the finished floor but also significantly reduce labor costs and project timelines. As the construction industry continues to evolve, the reliance on such advanced machinery is likely to become more pronounced.
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Between 2018 and 2022, the laser screed machine market experienced notable growth, driven by advancements in construction technology and an increasing demand for high-quality concrete flooring. These machines, essential for achieving precise and level concrete surfaces, became indispensable in large-scale construction projects.
During this period, the market was valued at approximately $1.2 billion in 2018 and saw a steady increase, reaching around $1.5 billion by 2022, reflecting a compound annual growth rate (CAGR) of about 5.7%. This growth was primarily attributed to the booming construction industry, especially in emerging economies, where rapid urbanization fueled the need for efficient construction methodologies.
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Somero
Ligchine
Shandong HIKING Machinery
Shandong Huaang Engineering
Jamshedji Constro Equip
Shree Vinayak Industries
Roadway Construction Machinery Manufacturing
Shubhaa
Vanse Machinery Technology
Rabot Infra Solutions
Topp & Screed
Masterscreed
Jining Furuide Machinery Manufacturing
Stackers & Movers India Manufacturing
YG Machinery
Topall Impex
Milwaukee Tool
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Laser Screed Machine Market
Industrial Plant
Workshop
Warehouse
Wharf
Others
Based on Types the Market is categorized into Below types that held the largest Laser Screed Machine market share In 2023.
Walk Hand-held Laser Screed Machine
Vehicle-mounted Laser Screed Machine
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Laser Screed Machine Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Laser Screed Machine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Laser Screed Machine Market, By Type
6. Global Laser Screed Machine Market, By Application
7. Global Laser Screed Machine Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Laser Screed Machine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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