Laser Marking Machine Market Outlook
According to a new report by Expert Market Research titled, “Global Laser Marking Machine Market Trends, Size, Share, Analysis, Report and Forecast 2024-2032″, the laser marking machine market reached a value of approximately USD 3.10 billion in 2023. Aided by the increasing demand for efficient manufacturing processes and the burgeoning applications of laser marking machines across numerous industries, the market is projected to further grow at a CAGR of 7.8% between 2024 and 2032 to reach a value of USD 4.86 billion by 2032.
Laser marking machines, providing permanent, precise, and fast marking, are being widely used as a labelling solution in various products, including electronic components, auto parts, medical devices, and more. They play an instrumental role in ensuring traceability, identity, and security of products. Apart from their utility in marking and labelling, laser marking machines also demonstrate excellent engraving and etching abilities, contributing to their growing use across different industrial applications, such as aerospace, automotive, electronics, medical, and jewellery, among others.
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The escalating consumer preference for durable and precise marking solutions is driving the global laser marking machine market growth. With the heightened awareness of the importance of traceability and product security, there has been a significant shift towards efficient marking solutions, leading to a surge in demand for laser marking machines. Additionally, the trend of miniaturisation in the electronics and medical industries has further contributed to the rising popularity of laser marking machines, as they offer high-precision marking suitable for small-sized components.
The diverse applications of laser marking machines across various industries significantly contribute to laser marking machine market expansion. For instance, in the electronics industry, laser marking machines are used to label circuit boards and other components for tracking and identification purposes. The automotive industry leverages these machines for part marking, traceability, and compliance with regulatory standards. In the medical sector, they are used to mark medical devices and surgical tools, ensuring patient safety and product traceability.
Moreover, advancements in laser technology have led to the development of more efficient, robust, and versatile laser marking machines, thereby widening their application scope. With the rise of Industry 4.0 and the increasing adoption of automated systems in manufacturing, laser marking machines have emerged as a vital tool in production lines, boosting the laser marking machine market development.
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Laser Marking Machine Market Segmentation
The market can be divided based on offering, laser type, application, and region.
Market Breakup by Offering
- Services
- Hardware
- Software
Market Breakup by Laser Type
- CO2 Laser
- Fibre Laser
- Green Laser
- UV Laser
- YAG Laser
Market Breakup by Application
- Automotive
- Aerospace
- Machine Tool
- Electronics and Microelectronics
- Medical
- Packaging
- Military
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global laser marking machine companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Telesis Technologies, Inc
- Han’s Laser Technology Industry Group Co., Ltd
- LaserStar Technologies Corporation
- Videojet Technologies Inc
- Trotec Laser GmbH
- Tykma Electrox, Inc
- Mecco
- Gravotech Marking SAS
- Coherent Corporation
- Others
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