Los Angeles, January 8, 2020 - QY Research has published a report titled, “Global (United States, European Union and China) Tape Measures Market Research Report 2019-2025,” that offers segmental analysis, regional analysis, market dynamics, and profile of market players. The global Tape Measures market is likely to attain the value of US$1.6Bn by 2025 from the prior valuation of US$1.1Bn in 2018. The global Tape Measures market is projected to exhibit a moderate CAGR of 4.7% for the forecasted period of 2018 to 2025.
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Civil Engineering – A Major Factor for Market Growth
● The growth of the global tape measure market is due to its largescale applications in land surveying,construction, mapping, and in architecture
● The tape measures provide accurate distance measurement in construction, leveling, and mining surveying.These measurement tapes have extensive application in civil engineering for determining and planning roads, reservoirs, dams, railways, pipelines, buildings, and bridges
● The development and construction of infrastructure are likely to boost the growth of the Tape Measures market
Largescale Application of Tape Measures in Construction Industry: The application segment is a major segment of the market which is divided into Construction, Woodworking, and Others. Measuring tapes have a largescale applications in the construction industry to provide accurate measurement for plasterboard joints, insulation, roofing lining, and others. These measuring tapes are affordable and offer an effective solution for its application in construction, which requires reliable and accurate measurement. This is likely to propel the growth of the construction segment. The authors of the report have classified another important segment of the market, the product type segment into Surveyor Tapes and Pocket Tapes.
Infrastructure Development in China to Foster the Market Growth
The growing infrastructure development and the growing construction sector particularly in China, which requires accurate measurement in building and construction is likely to fuel the demand for measuring tapes over the next few years. Rapidly increasing mining activities have resulted in a high demand for these tapes. Survey technicians, workers, architects, and civil engineers require tape measures to calculate lengths and distances for the purpose of planning, mapping, and development. These tapes are also extensively used in other scientific disciplines. This is likely to foster the growth of the Tape Measures market over the next few years.
Product Development – Focus of the Market Players
The market players are keen to offer innovative solutions to end-use industries. They are involved in new product development, product launches, and R&D activities to provide user-specific features.
For instance, Milwaukee Tool launched redesigned tape measures, STUD™ to deliver accuracy, enhanced length of 14 feet, and to offer maximum durability.
The report offers insights on the profile of the market players which include Komelon, TAJIMA, Starrett, Apex, Grate Wall, Milwaukee Tool, Endura, Pro’skit, EXPLOIT, Hultafors, BERENT, PST, BOSI, Kraft walle, and Jetech Tool.
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