Laser Markings Machine Market Share, Size, Trends, Industry Analysis Report, By Offering (Hardware, Software, and Services); By Material; By Laser Type; By Region; Segment Forecast, 2023 – 2032
- Published Date:Dec-2023
- Pages: 119
- Format: PDF
- Report ID: PM2159
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global laser marking machine market was valued at USD 3.33 billion in 2022 and is expected to grow at a CAGR of 7.5% during the forecast period.
The growing adoption of innovative laser markers across numerous industries for traceability and identification of several parts with greater accuracy, higher readability, and minimal loss as compared to traditional material marking systems like dot pen marking are the leading factors driving global market growth at a significant pace. Besides this, the continuous expansion and surge in the aerospace and automotive industries are further influencing the demand for such technologies, as they are being widely used for engraving serial numbers of tires without changing or altering the structure.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces Laser Marking Machine Market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
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Laser marking systems have been gaining huge popularity across the globe and finding new extensive applications in the electronics industry, as electronic products are manufactured on a larger scale and require automated and efficient marking and engraving procedures that are also labeled with much information done with the help of laser marking. Thus, the expansion of the electronics industry and the growing manufacturing of electronic devices and semiconductors will propel the market growth significantly.
For instance, according to a report published by Invest India, India’s total domestic production of electronics has increased at a significant CAGR of 13% from USD 49 billion in 2017 to USD 101 billion in 2023 and is also anticipated to reach over USD 300 billion by 2026.
However, the high initial cost associated with the purchasing of laser marking equipment, the need for regular or periodic maintenance to maintain its effectiveness that led to high maintenance costs, and the lack of standardization in the laser marking industry are among the factors likely to restrain market growth.
Industry Dynamics
Growth Drivers
Proliferation for Innovated Laser Marking Technologies and Growth in End-Use Industries Spurring the Product Demand
In recent years, there has been a significantly growing proliferation for the adoption and integration of advanced laser marking technologies such as hybrid laser marking and 3D laser marking that have made lasers more efficient and precise and also expanded their applications across industries, driving the laser markings machine market growth over the years.
Apart from this, the emergence of laser marking systems as an essential tool for marking aerospace and automotive components because of the rising need for traceability and identification of parts and constant growth in these industries is anticipated to boost demand for laser markings globally.
For instance, as per a report by the Society of Indian Automobile Manufacturers, passenger vehicle sales in India have increased from 30,69,523 units to 38,90,114 units in FY22-23. Also, commercial vehicle sales increased significantly from 7,16,566 to 9,62,468 units in FY22-23.
Report Segmentation
The market is primarily segmented based on offering, material, laser type, and region.
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By Offering |
By Material |
By Laser Type |
By Region |
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By Offering Analysis
Hardware Segment Accounted for the Noteworthy Market Share in 2022
The hardware segment accounted for a noteworthy market share. Segment’s growth is primarily due to its significant importance in a wide range of industries where marking of products with unique identification codes, barcodes, and many other information coupled with the continuous advancements in laser technology that includes the development of efficient and powerful laser sources such as fiber lasers and CO2 lasers.
The services segment is expected to grow at the highest growth rate over the next coming years, owing to a rapid surge in the number of companies offering pre and post-sales services in order to facilitate the deployment and operation of laser marking system along with the ability of laser marking services to mark logos, serial numbers, and QR codes on numerous types of materials.
By Material Analysis
Metal Segment is Expected to Hold Significant Market Share over the Forecast Period
The metal segment is expected to hold a significant market share in terms of revenue over the forecast period, mainly due to the widespread use of metals across different industries, including automotive, aerospace & defense, machine tools, and healthcare, where the need for marking is higher for traceability purposes. The growing need to comply with government regulations and industry standards, especially for traceability and counterfeit prevention purposes, has also driven the demand and need for laser marking in the metal segment.
By Laser Type Analysis
UV Laser Segment is Expected to Witness Highest Growth During the Estimated Period
The UV laser segment is expected to grow at the highest growth rate during the study period, mainly attributable to its numerous characteristics and features, including the ability of fine cutting and micro-processing of various specific types of materials like glass, textile, and ceramic liquid crystal screens, among others. Additionally, UV lasers also offer high precision and resolution in marking and engraving applications. They could also produce fine details and sharp edges, which makes them an ideal choice for intricate designs and small-scale markings, resulting in new growth avenues for the segment market.
The fiber laser segment led the industry market with a considerable share in 2022, which is majorly driven by its wide range of benefits and advantageous features, including high optical quality, flexible fiber light, compact machine size, and high output power, compared to other types available in the market. The widespread utilization of fiber lasers apart from automotive and electronics industries such as medical devices and jewelry and customization for efficiently engraving and personalizing jewelry and many other high-value items.
Regional Insights
Asia Pacific Region Dominated the Global Market in 2022
The Asia Pacific region dominated the global market. The regional market growth is highly attributed to the rising adoption of laser marking machines in manufacturing facilities, constant increase in foreign investments, and the relocation of manufacturing facilities of several leading companies, particularly in developing economies like India and China.
Besides this, some of the governments in the APAC region have introduced policies and initiatives, including subsidies and incentives, that promote the adoption of advanced manufacturing technologies, including laser marking, which, in turn, generates huge growth opportunities for the market.
The Europe region accounted for the second largest share and is also expected to witness the highest growth rate during the study period on account of the emergence of the region as a manufacturing hub for various products from different industries like electronics, aerospace, healthcare, and automotive and rapid increase in R&D investments that led to the development of more compact and cost-effective laser marking equipment.
For instance, in March 2023, Surgical Holdings introduced the NuTrace laser marking system, which is mainly designed to help hospitals ensure the traceability of their surgical instruments in the sterile workflow.
Key Market Players & Competitive Insights
The laser markings market is highly fragmented, with various large and medium-sized vendors competing for market share and consolidating their position ahead of their competitors. The key market players are entering into several partnerships and collaborations and introducing new products into their offerings to expand their market and cater to a wider customer base globally.
Some of the major players operating in the global market include:
- 600 Group
- Agile Machineries Pvt. Ltd.
- Coherent Inc.
- Danaher Corporation
- Epilog Laser
- Gravotech Group
- Gravotech Marking
- Han’s Laser Technology
- Huagong Tech Co.
- IPG Photonics Corporation
- LaserStar Technologies Corporation
- Mecco Partners LLC
- Sea Force Co. Ltd.
- Sintec Optronics Pte Ltd.
- Trotec Laser
- TRUMPD
- Videojet Technologies
Recent Developments
- In March 2021, Primera Technology announced that they have successfully developed a laser marking system to produce durable labels for numerous rough-service applications. This catalyst uses a bundle of around 2, 4, & 8 fibre-based laser diodes with highly efficient lenses.
- In September 2022, Epilog Laser introduced a fusion maker laser system designed for industrial applications that can withstand heavy use & mass production, & allows users to operate industrial laser machines.
Laser Markings Machine Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 3.55 billion |
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Revenue forecast in 2032 |
USD 6.81 billion |
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CAGR |
7.5% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Offering, By Material, By Laser Type, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
Navigate through the intricacies of the 2032 Laser Marking Machine Market with precision, thanks to the comprehensive statistics on market share, size, and revenue growth rate assembled by Polaris Market Research Industry Reports. This thorough analysis not only provides a glimpse into the historical context but also extends its reach with a market forecast outlook until 2032. Immerse yourself in the richness of this industry analysis by securing a complimentary PDF download of the sample report.
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