Handheld Laser Distance Meter Market Estimated to Record Highest CAGR by 2019 to 2027
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Notable Developments in the Handheld Laser Distance Meter Market:
In February 2019, Nikon Vision Co., Ltd. – a subsidiary of Nikon Corporation (Nikon), recently announced the launch of the MONARCH 2000 – its new portable Laser Rangefinder. The MONARCH 2000 is a handheld laser distance meter with an extended distance measurement capacity of a maximum distance of 1,820 meters. Various innovative and modern features, such as red OLED internal display and an automatic display brightness adjustment function, are incorporated in Nikon’s new handheld laser distance meter.
In February 2019, Trimble, Inc. – a California-based developer of laser rangefinders and inertial navigation systems – announced its e-commerce platform, Trimble Exchange, where customers in the United States can directly connect with the Trimble's SITECH® dealer network to purchase refurbished or pre-owned, legacy Trimble products. With the launch of the new e-commerce platform, Trimble aims to attract customers, especially from the civil construction industry, by offering competitive prices of pre-owned Trimble equipment.
In June 2018, Robert Bosch GmbH (Robert Bosch Tool) – a leading provider of cordless & corded measuring tools, power tools, and tool accessories and one of the leading stakeholders in the handheld laser distance meter market – introduced the new Bosch BLAZE™ Outdoor GLM400C Connected Laser Measure, which comes with the Viewfinder as well as a Camera. The new handheld laser distance meter provides unique features such as default real-time measuring, indirect measuring functions for length, area, as well as volume along with a display guide.
In February 2018, Hexagon AB (Leica Geosystems), a leading providers of geospatial industrial solutions and a leading player in the handheld laser distance meter market, announced the launch of its new handheld laser distance meter –Leica DISTO™ X3 and X4 – which is specially designed for the construction industry. The new handheld laser distance meter is water- and dust-protected and it can withstand drop tests from a height of 2 meters. The company also declared that a Pointfinder camera is integrated into the new product – DISTO X4, which can help users to easily locate distant target even in bright sunlight. With the launch of the revolutionary and technologically advanced handheld laser distance meters, the company is aiming to consolidate a stronger position in the market.
Other key players in the handheld laser distance meter market are Fluke Corporation, Hilti, Inc., Makita U.S.A., Inc., Precaster Enterprises Co., Ltd., Prexiso AG, STABILA Measuring Instruments Gustav Ullrich GmbH, Stanley Black & Decker Inc., Trimble, Inc., and The L.S. Starrett Company Ltd.
Handheld laser distance meters are rapidly replacing their traditional counterparts such as measurement tapes, used in the industry. The burgeoning demand for handheld laser distance meters in the construction industry is mainly attributed to the needs for improving the speed and accuracy of distance measurement tools. Handheld laser distance meters are commonly used in the construction industry for height tracking, which enabled end-users to derive the discrepancy between the heights of two sides of a wall with more accuracy and without any assistance. The importance of getting the measurements right the first time with high efficiency, accuracy, and safety is necessitating the use of handheld laser distance meters in the construction industry. Leading stakeholders in the handheld laser distance meters market are focusing on introducing handheld laser distance meters for the construction industry to capitalize on lucrative sales opportunities created by the ongoing construction activities worldwide.
Camera with Brightness Adjustment Features Emerge as Outdoor Application Enablers
A majority of customers are incorporating state-of-the-art measurement instruments, such as handheld laser distance meters, for outdoor applications, in bright sunlight. Leading manufacturers in the handheld laser distance meter market are focusing on improving the quality of display by integrating a high-resolution screen with modern handheld laser distance meters. By introducing brightness adjustment features and a camera with zooming capabilities, handheld laser distance meter market players are allowing end-users to spot distant targets in bright sunlight. In the upcoming years, integrating cameras and high-resolution display options with handheld laser distance meters is likely to emerge as a popular trend in the market.
High Cost Continues to Remain a Key Growth Impediment
Although handheld laser distance meters enable end-users to achieve more accuracy at distance measurement tasks, they are extremely expensive, which is one of the leading factors to limit the market growth. As compared to their alternatives – ultrasound distance meters, handheld laser distance meters cost much higher. Thereby, customers are preferring to purchase pre-owned handheld laser distance meters or leasing one, owing to its high cost. Taking into consideration this trend, leading manufacturers in the handheld laser distance meters market are offering pre-owned equipment or leasing handheld laser distance meters of their own brands at competitive prices to gain an edge in the handheld laser distance meter market.
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