PUBLISHER: The Business Research Company | PRODUCT CODE: 1429847
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429847
Laser marking is a permanent process that utilizes a concentrated beam of light to create a lasting mark on a surface. It involves the use of a fiber, pulsed, continuous wave, green, or UV laser system and covers a wide range of applications. Laser marking is known for its permanence, and it requires no consumables, making it a low-maintenance option compared to other non-permanent marking procedures such as printing or labeling.
The main types of laser marking machines include CO2 laser, Fiber laser, Green laser, UV laser, YAG laser, and others. CO2 laser marking machines are typically used for working with non-metallic materials and most plastics. The offerings in the laser marking market include hardware, software, and services, catering to various applications in machine tools, electronics and microelectronics, automotive, medical, aerospace, packaging, military, and other industries.
The laser marking research report is one of a series of new reports from The Business Research Company that provides laser marking statistics, including laser marking industry global market size, regional shares, competitors with laser marking share, detailed laser marking segments, market trends and opportunities, and any further data you may need to thrive in the laser marking industry. This laser marking research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The laser marking machine market size has grown strongly in recent years. It will grow from $2.82 billion in 2023 to $3.05 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to the increasing adoption of laser marking across end-users, the use of lasers in additive manufacturing, higher penetration of electronic devices, rising automation in industries, and the growing adoption of laser technology.
The laser marking machine market size is expected to see strong growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to the growing demand for material processing, and increased investment in research and development is expected to drive the laser marking machine market. Key trends expected in this period include a focus on developing innovative laser marking goods, emphasis on merger and acquisition activity, deployment of artificial intelligence (AI) and machine learning (ML) applications, and increased investment in technological advancement, as well as a focus on collaborations and partnerships.
The market for industrial lasers is experiencing growth driven by an increasing demand for material processing across diverse applications such as industrial machinery, automotive, aerospace, and construction. The utilization of laser systems for material processing is expanding due to their numerous advantages, including enhanced productivity, flexibility, and efficiency. A notable collaboration in January 2022 between TRUMPF, a German industrial machine manufacturing company, and the Fraunhofer Institute for Laser Technology ILT is expected to advance research in laser material deposition, contributing to the technology's market introduction. This collaboration leverages the Fraunhofer Institute's expertise in cutting-edge laser beam sources and premium optical components, providing customers with years of application-specific process experience and top-tier laser system technology. The rising demand for material processing is expected to propel the market for laser marking machines throughout the forecast period.
Government support and significant investments by key players are poised to further drive the laser marking machines market, especially amid the pandemic. Noteworthy is Han's Laser Technology Industry Group Co. Ltd., a China-based laser machine manufacturer, investing $34 million in constructing a new fiber-optic production facility in Canada. This strategic move aims to increase manufacturing capacity and provide high-value employment. Additionally, in March 2022, the Canadian government invested $90 million in funding for the National Research Council of Canada's Canadian Photonics Fabrication Centre (CPFC) to enhance its capacity and capability for manufacturing laser machines. The increased investment in research and development is expected to boost the demand for laser marking machines, contributing to market growth.
A key trend gaining traction in the laser marking machine market is the integration of 3D printing technology. As the demand for high productivity, waste reduction, customization, cost reduction, and error minimization rises, 3D printing becomes increasingly popular. The application of industrial lasers in 3D-printed machine tool components, particularly those utilizing selective laser melting and laser metal deposition, is anticipated to drive demand for laser marking machines. For example, GCC, a reputable manufacturing company specializing in laser engravers and cutters, introduced the StellarMark 3DS series with a 3D scan head, simplifying the processing of cylinder-shaped and round objects.
Increased collaboration between laser marking machine manufacturing companies, industrial manufacturing firms, and technology companies is contributing to the heightened production of application-specific electronic components for various devices. A notable example is the collaboration between TRUMPF, a leading German industrial machine manufacturing company, and the Fraunhofer Institute for Laser Technology ILT, initiated in January 2022. This strategic partnership aims to advance research in laser material deposition, expediting the technology's introduction to the market. Customers are poised to benefit from the collaboration's extensive experience in application-specific processes and the unique amalgamation of top-tier laser system technology. The Fraunhofer Institute for Laser Technology ILT, known for its cutting-edge laser beam sources and premium optical components, reinforces the collaborative effort.
In January 2021, Lumentum Holdings Inc., a US-based company specializing in photonics optical components for cloud networking and submarine communications, acquired Coherent for a substantial $5.7 billion. This acquisition strategically integrated Coherent's complementary product portfolio and research and development capabilities into Lumentum's existing lineup of products. Coherent Inc., based in the US, is recognized for its expertise in manufacturing laser marking machines. This acquisition reflects Lumentum's commitment to enhancing its product offerings and research capabilities through strategic acquisitions in the photonics sector.
Major companies operating in the laser marking machine market report are Han's Laser Technology Industry Group Co. Ltd., TRUMPF Group, IPG Photonics Corporation, Keyence Corporation, Coherent Inc., Videojet Technologies Inc., Trotec Laser GmbH, Universal Laser Systems Inc., Epilog Laser, Novanta Inc., EtchON, Light Mechanics, Future Bit, Connect Automation, Proarc, Jinan Lingxiu Laser Equipment Co. Ltd., Chutian Laser, Lead Laser, Bystronic DNE, HSG Laser, Bodor Laser, Hymson, ROFIN-SINAR Laser GmbH, ES Precision, Solaris Laser S.A, Aramis Laser Systems, Eagle Lasers, Laser Systems S.R.L, LVD Group, Laser Processing, Histeresis, Radan, Laser Tech, Medicom, Gravotech Marking, TYKMA Electrox, LaserStar Technologies Corporation, Welle Laser, Amada Miyachi America, El.En. S.p.A, Apex International, Sisma, Civan Lasers, Neo Laser, Spectra Physics, Laseral, Amplitude, Quanta System, Lantek, Deka, Dar Elhamd, Maxlazer, SLTL, MER Systems, SA Argus, Applied Laser Power
Asia-Pacific was the largest region in the laser marking machine market in 2023. The regions covered in the laser marking machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the laser marking machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The laser marking market consists of sales of pulsed machines, continuous wave machines, underbonnet parts, structural components, body panels, headlamps, and bumpers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Laser Marking Machine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on laser marking machine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for laser marking machine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The laser marking machine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.