January 24, 2024 07:00 ET | Source: SPHERICAL INSIGHTS LLP SPHERICAL INSIGHTS LLP
New York, United States, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The Global Laser Marking Machine Market Size is to Grow from USD 2.8 Billion in 2022 to USD 5.8 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.5% during the projected period. multifunctional slotting machine
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A laser marking machine is a mechanical device that imprints laser markings or drawings on a surface permanently. A focused light beam emitted by a fibre, green, YAG, ultraviolet (UV), or CO2 laser creates markings. Since this beam focuses on a single point, the machine can create precise, high-quality, and high-contrast markings. Text for serial numbers, machine-readable data for barcodes, unique identification codes, matrix codes, and artwork are all examples of common marks. Etching is commonly used on steel, titanium, aluminum, copper, ceramic, plastic, wood, glass, and paper. Laser marking systems outperform traditional material marking techniques in terms of accuracy, readability, labor cost, and loss. When compared to traditional marking systems such as dot peen marking, laser marking systems are extremely fast. Rapid global industrialization, accompanied by increased automation in the manufacturing sector, is one of the primary drivers driving market expansion. Technological breakthroughs, such as the development of green-laser marking equipment, are also growth drivers. However, high development costs are a major factor that may stymie this market's growth. Rising demand for bespoke marking and engraving, as well as increased automation throughout the manufacturing process, are the primary reasons producing potential for market participants.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Laser Marking Machine Market Size, Share, and COVID-19 Impact Analysis, By Laser Type (Solid-State Laser, Diode laser, Fiber Laser, & Others), By Offerings (Services, Hardware, Software, & Others), By end user (Aerospace and Military, Electronics and Microelectronics, Automotive), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The fiber laser segment is expected to grow fastest in the global laser marking machine market during the forecast period. Based on laser type, the laser marking machine market has been segmented into solid-state laser, diode laser, fiber laser, & others. Among these, the fiber laser segment is expected to grow fastest in the global laser marking machine market during the forecast period. Fiber laser marking machines are extremely versatile, efficient, and reliable. Fiber Optics is used to deliver the laser beam, allowing for high-speed and precise marking of materials such as metals, plastics, and ceramics. Because of their high processing speed, low maintenance costs, and long service life, fiber laser marking machines are in high demand.
The services segment is expected to grow at the highest pace in the global laser marking machine market during the anticipated period. Based on the offerings, the global laser marking machine market is divided into services, hardware, software, & others. Among these, the services segment is expected to grow at the highest pace in the global laser marking machine market during the anticipated period. Companies and their channel partners offer both pre- and post-sales services to help with the installation and operation of laser marking systems. Several services are available for laser marking systems throughout their lifecycle, including machine setup and installation, lifecycle services, maintenance services, spare parts supply and upgrade, and support.
The automotive segment is expected to grow at the highest pace in the global laser marking machine market during the forecast period. Based on the end user, the global laser marking machine market is divided into aerospace and military, electronics and microelectronics, automotive. Among these, the automotive segment is expected to grow at the highest pace in the global laser marking machine market during the forecast period. The use of laser marking machines in the automotive industry has become critical for marking parts such as engine components, transmission components, brake systems, and chassis components. This is because laser marking machines can create high-precision, long-lasting markings that can withstand harsh environmental conditions such as extreme temperatures, abrasion, and corrosion.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
Asia-Pacific is projected to hold the largest share of the global laser marking machine market over the forecast period. Over the forecast period, Asia-Pacific is expected to have the largest share of the global laser marking machine market. This market dominance can be attributed to the increasing adoption of laser marking technology in emerging markets such as China and India, where manufacturing sectors are rapidly expanding.
North America is expected to grow the fastest in the global laser marking machine market during the anticipated time frame. Laser marking machines are becoming increasingly common in the region for marking and engraving different components and parts due to their superior precision, durability, and flexibility. Furthermore, the region's growing use of automation in manufacturing processes is expected to fuel demand for laser marking machines.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Laser Marking Machine Market Coherent, Inc., TRUMPF, Han’s Laser Technology Co., Ltd., Gravotech Marking, IPG Photonics Corp., 600 Group, Danaher Corp., Novanta Inc., KEYENCE Corp., Huagong Tech Co., Ltd., Trotec Laser, Epilog Laser, MECC and Other Key Vendors.
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Market Segmentation: This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
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