Increasing constructions are driving the growth in Global Plumb Bob Market in the forecast period, 2022-2026.
According to TechSci Research report, “Plumb Bob Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026” The global plumb bob market would potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of rapidly surging demands from the construction industry.
The rapidly increasing demands from the infrastructure construction like that of modern buildings and high-rise infrastructure development is driving the growth of the global plumb bob market in the upcoming five years. Extended research and innovative product launches of the technological advanced devices and equipment might hinder mildly with the growth of the global plumb bob market in the next five years. Government policies, and strict regulations toward utilization of precision measuring hand tools and equipment to support long lasting infrastructure construction is also aiding the growth of the global plumb bob market in the future five years.
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The global plumb bob market is segmented on the basis of type, application, competitional landscape, and regional distribution. Based on type, the market is further fragmented into brass plumb bob, and steel plumb bob. Brass plumb bob is expected to register largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of its advantages. The brass plumb bob has a solid-brass construction for durability and rust resistance with a replaceable, long-lasting hardened steel tip. The polished lacquer adds to its durability and further supports the growth of the sub-segment. It has replaceable, hardened steel tip of the plumb bob with long lasting string. The screw top simplifies attaching string to center of plumb and easier tightening of the string such that usage of the product becomes easier and efficient.
Based on end user, the market is segmented into residential, industrial, commercial. Residential applications of plumb bob are expected to register largest revenue shares and assert its dominance over the market in the upcoming five years. Increasing demand for the residential complexes and houses along with the increasing number of high rise buildings is anticipated to drive the growth of the global plumb bob market along with the growth of the sub-segment in the upcoming five years. Also, industrial applications for the installation of multiple doors and aesthetic looks for the corporate office complexes is expected to support the growth of the sub-segment and growth of the global plumb bob market in the next five years.
Key market players in the plumb bob market include:
- Starrett
- Myzox Co., Ltd.
- ABM Tools
- DK tools Limited
- Hoffman Group
- Kara Company, Inc.
- Arm-Tex
- SECO Manufacturing Co.
- Metrol Tools
- Robinson Manufacturing Company
Starrett Company is an American manufacturer that is focused on production of tools and instruments used by machinists, tool and die makers, and the construction industry. The company is one of the largest manufacturers of precision measuring tools like plumb bobs. They are recently launching innovative and technologically advanced products that is further promoting their brand values. Kara Company Inc. is the leading manufacturer in the Midwest with 40 years of experience in providing tools, equipment and services for the construction industry and is expected to further aid in futuristic growth of the market.
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“Asia Pacific region is anticipated to hold the largest revenue shares of the market and dominate the segment in the upcoming five years on the account of rapidly increasing construction in the countries like India and China. Increasing population of both the countries is further expected to aid the growth of the market. China is the world’s largest population holding country and India is right after in its population count. Increasing demand for housing the increasing population through government initiatives and private infrastructure construction companies is also supporting the market growth. New market players may focus on studying the consumer demands and extended research along with the smart product launches thus aiding their brand establishment. Europe is expected to register significant growth due to increasing construction as well as demand for maintenance of the historic monuments. Although, technological advancement in the construction equipment may influence the growth of the global plumb bob market in the upcoming five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Plumb Bob Market – Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Brass Plumb Bob, Steel Plumb Bob), By Application (Vertical Alignment of Walls, Doorjamb, Lining up Points, Wallpapering), By Part (Pointed End, Weight, Hole for String, String), By End User (Residential, Commercial, Industrial), By Region”, has evaluated the future growth potential of global plumb bob and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global plumb bob market.
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