Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Laser Marking Machine market.
Trusted Business Insights presents an updated and Latest Study on Laser Marking Machine Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Laser Marking Machine market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Laser Marking Machine Market
The global laser marking machine market size was valued at USD 1.5 billion in 2020 and is anticipated to expand at a CAGR of 6.6% from 2021 to 2027. Laser marking systems are ideal for marking logos, bar codes, and matrix codes on almost all types of materials. In the automotive industry, markers are widely used for engraving serial numbers on tires without altering the tire structure. Besides, laser marking is also a versatile solution chosen to mark a wide range of aerospace parts as it extends extreme durability when compared to traditional engraving methods.
These engraving systems find extensive applications in the electronic devices industry. Products in the electronics and semiconductor industry are manufactured on a large scale and hence require automated marking and engraving procedures. These components are often labeled with a lot of information, which is done with the help of marking machines. For instance, 2D data-matrix codes are engraved on electronic components with the help of Galvo laser marking systems for a fully or semi-automated labeling process. Therefore, companies such as Telesis Technologies, Inc., offer EV4GDS Green Laser System for high-speed marking on electronic components such as microchips, capacitors, and circuit boards.
The growing need for unique device identification and deep engraving during the manufacturing process for the objective of traceability, inventory control, production flow control, and product quality validation are anticipated to fuel the market demand. These markings done through these machines, especially fiber laser machine, consume less time and do not fade, even with continuous exposure to heat and harsh chemicals. Hence, growing demand for such machines in electronics and defense industries is further anticipated to bolster the market growth over the forecast period 2021-2027.
Additionally, increasing number of stringent government regulations and guidelines for markings on surgical and medical equipment to improve their traceability is also projected to propel the market demand globally. On the other hand, high demand has been observed for personalized leather products, including leather jewelry, purses, and handbags, with customizations such as monogrammed initials and names. Hence, the market demand from such industries is projected to propel the growth of engraving technologies such as laser marking systems in the forecast period.
Type Insights: Laser Marking Machine Market
Based on type, the laser marking machine market has been segmented into CO2, fiber, green, UV, and YAG laser. The machines use different laser sources with different wavelengths; thus, each type of machine is used for a specific set of applications. For instance, CO2 laser marking machines are typically used for thinner and lesser rigid surfaces, while the fiber machines are used on more robust and hard surfaces. Hence, the wavelength of the laser source used in the machine plays an essential role in the selection of the machine type to be used for marking on a specific material. Increasing use of laser marking across varied applications such as aerospace and defense equipment and other metal equipment has proved to be beneficial for the market.
Moreover, the fiber laser marking machine was valued at USD 1.2 billion in 2020 and is anticipated to continue its dominance over the forecast period. The fiber machines are more technologically advanced and quicker in operation as compared to the gas machines. These machines are predominantly preferred for marking application related to metal surfaces and hence hold a majority of share in the automotive, machine tools, military, and aerospace applications.
Application Insights: Laser Marking Machine Market
Based on applications, the market has been segmented into automotive, aerospace, machine tool, electronics, and microelectronics, medical, packaging, military, and others. The machine tools industry lead the market with a market share of over 30% in 2019, owing to the importance of marking for part identification and tracking purposes. The manufacturing sector is upgrading its operations, with concepts such as factory automation and smart factories to improve its production capacity through batch production. Moreover, increasing use of robotics and sensors has also highlighted the importance of tool identification and recognition, thus driving the demand for laser marking machines.
The electronics application accounted for 23.3% share in 2019 and is projected to grow at a CAGR of 5.6% over the forecast period. The application of laser marking machines has witnessed a tremendous increase over the past few years owing to the growing demand for electronic products. Besides, the electronic device manufactures are also focusing on diversification of product range to grab a larger share of the market, thus leading to an increase in the manufacturing of electronic devices, thus influencing the market demand.
Regional Insights: Laser Marking Machine Market
The Asia Pacific region lead the market and is expected to expand at a CAGR of 6.2% over the forecast period. The growth in the region is primarily driven by the adoption of enhanced manufacturing techniques in the Chinese machine tools industry and the flourishing aerospace and military industry in the region. The region is expected to hold the majority of share by 2027 which can be attributed to excessive foreign investments and relocation of manufacturing facilities of numerous companies to countries such as India and China. For instance, the Belt and Road Initiative (BRI) and Make in India initiative are attracting investments for infrastructural development, which in turn would enhance the manufacturing sector in the country, thus generating the demand for laser marking machines.
The Europe market was valued at USD 621.1 million in 2019 owing to the dominance of automotive and automotive component manufacturers in countries such as Germany, Europe, Italy, and France. Besides, considerable growth in the aerospace and shipping industry is expected to fuel the market growth in the region. For instance, in December 2018, the government of the U.K. agreed to invest approximately USD 335 million in the Future Flight Challenge to support the advancement in aerospace technology.
Key Companies & Market Share Insights: Laser Marking Machine Market
Prominent participants in the market include Hans Laser Technology Industry Group Co., Ltd; Telesis Technologies, Inc.; Videojet Technologies, Inc.; Trotec Laser GmbH; Epilog Laser; TYKMA Electrox, Inc.; MECCO; LaserStar Technologies Corporation; Gravotech Marking; and Sea Force Co., Ltd. Other vendors operating in the market include Universal Laser Systems, Inc.; Keyence Corporation; Huagong Tech Company Limited; Panasonic Electric Works Europe AG; and Coherent, Inc.
The leading vendors in the market are focusing on providing enhanced marking systems to cater to the needs of varying customers and gain a more significant market share. Moreover, companies are also highly concentrated on strategic partnerships and acquisitions to expand their operations and product offerings to meet consumer demands. For instance, in May 2019, TYKMA Electrox announced collaboration with Cerakote, a provider of thin-film ceramic coating for several applications. The partnership was aimed at providing advanced imaging on products with Cerakote coatings by blending it with the formers laser marking abilities on a variety of 3D objects.
Laser Marking Machine Market Report Scope
Key companies Profiled: Laser Marking Machine Market Report
- Hans Laser Technology Industry Group Co., Ltd
- Telesis Technologies, Inc.
- Videojet Technologies, Inc.
- Trotec Laser GmbH
- Epilog Laser
- TYKMA Electrox, Inc.
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global laser marking machine market report on the basis of type, application, and region:
Type Outlook (Revenue, USD Million, 2016 – 2027)
- CO2 Laser
- Fiber Laser
- Green Laser
- UV Laser
- YAG Laser
Application Outlook (Revenue, USD Million, 2016 – 2027)
- Machine Tool
- Electronics and Microelectronics
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