- A steel measuring tape is a portable device used to measure the size of objects or the distance between two points. It is a flexible metal strip made of steel or carbon steel. The steel measuring tape is majorly utilized in construction and woodworking industries. It is a basic hand tool available in various lengths that is employed for measurement. The steel measuring tape market can be segmented based on type, length, price range, distribution channel, end-use industry, and region. Expansion of the construction industry across the globe is estimated to drive the global steel measuring tape market.
Expansion of construction industry to fuel the global steel measuring tape market
- Rapid urbanization has fueled the construction industry globally. Rise in number of construction projects in commercial, residential, and industrial sectors is projected to increase the usage of steel measuring tapes for perfect measurements. Steel measuring tapes are used by civil workers, architects, interior designers, surveyors, etc. Utilization of these measuring tapes is increasing, as steel measuring tapes are the basic hand tools used by interior designers, architects, civil workers, etc., for measurement while working on construction sites. Expansion of the construction industry is estimated to ultimately fuel the steel measuring tape market in the near future.
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Technologically advanced products to offer significant opportunities to the global steel measuring tape market
- Presently, manufacturers are developing technologically advanced products such as LCD displays on steel measuring tapes that display the measurement. These advancements in products are expected to offer significant opportunities to the steel measuring tape market in the near future. Consumers are slowly shifting toward the use of technologically advanced steel measuring tapes, as they store data or information about recent calculated measurements.
Asia Pacific to lead the global steel measuring tape market
- In terms of region, the global steel measuring tape market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
- Europe includes the country-level analysis for U.K., Germany, France, and Rest of Europe. North America includes Canada, U.S., and Rest of North America. The South America steel measuring tape market can be segregated into Brazil, and Rest of South America. Analysis and forecast of the steel measuring tape market in Asia Pacific features India, China, Japan, and Rest of Asia Pacific. Middle East & Africa covers the steel measuring tape market analysis for GCC countries, South Africa, and Rest of Middle East & Africa.
- Demand for steel measuring tape is likely to increase significantly in Asia Pacific from 2020 to 2030, followed by North America and Europe, due to considerably huge number of construction projects in the region.
- Leading manufacturers of steel measuring tapes have extensive distribution networks.
Key Manufacturers Operating in the Market
The global steel measuring tape market is highly fragmented. Key manufacturers operating in the global market are:
- Stanley Black & Decker, Inc.
- Komelon USA
- Milwaukee Tool
- Tajima Tool Corporation
- U.S. Tape