Global Laser Marking Market Size Set to Touch USD 4.68 billion by 2028

Published | 01 January 2023

Global laser marking market is flourishing, as the effectiveness of laser markers is superior to conventional material marking, rapid urbanization and digitalization, increasing product innovations, and a surging demand for product application in various industrial uses.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Laser Marking Market size at USD 2.84 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects global laser marking market size to grow at a steady CAGR of 5.8% reaching a value of USD 4.68 billion by 2028. Global laser marking market size expansion is driven by increasing use of laser marking machines in automation processes for large scale manufacturing and the value added by these industries to the GDP of the nations, and various advantages attributed with the use of laser marking systems. Factors, such as the growing requirement among manufacturing firms to track and trace their end products or items in the manufacturing process, as well as developments in laser technology, are also expected to generate various potential for market expansion. Laser marking is widely used because to its superior consistency, competitive advantage, precision, and quick engraving, as well as increased need for material processing and R&D expenditure. Therefore, all these factors are expected to further boost the growth of global laser marking market during period in analysis. However, high cost of deployment is anticipated to restrain the overall market growth.

Global Laser Marking Market – Overview

The laser marking machine market is comprised of companies (organizations, partnerships, and sole proprietors) that produce laser marker machines using a concentrated beam of light to make a permanent mark on a surface. For laser marking, a fiber, pulsed, continuous wave, green, or UV laser system is typically employed and covers a wide range of applications. Laser marking uses no consumables and requires less upkeep than other non-permanent marking methods like as printing or labeling.

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Opportunity: Increasing adoption of AI & ML in laser marking

Artificial intelligence (AI) and machine learning (ML) applications are being used by laser marking machine manufacturers to improve production efficiency, save costs, and minimize manufacturing errors. AI is a type of ML that uses human intellect characteristics, such as reasoning and problem-solving abilities, to gain insights and give relevant information. It is used for a wide range of mechanical applications including brazing, cutting, engraving, laser printing, and welding. Many laser-based Industry 4.0 applications leverage advances in IoT, AI, cloud computing, cognitive computing, cyber-physical systems, machine learning, and other domains.

Global Laser Marking Market – By End User

On basis of end user, global laser marking market is segmented into Semiconductor & Electronics, Automotive, Machine Tools, Medical & Healthcare, Aerospace & Defense, and Packaging industries. The machine tools segment is expected to hold the highest share in the market during the forecast period. Machine tool manufacturing is the most common use for laser marking and engraving equipment. Industries have employed more machinery for faster output and improved production capacity to cater the requirements of consumers with increased production capacity. It necessitates the use of laser marking devices to print details such as barcodes, item number, QR codes, and other traceability information.

Impact of COVID–19 on Global Laser Marking Market

COVID 19 had a detrimental impact on global laser marking market due to stringent lockdown imposition worldwide leading to supply chain disruptions. The significant demand for equipment and machinery was previously observed from leading manufacturing countries such as the United States, Germany, Italy, the United Kingdom, and China, which was severely impacted by the epidemic, suspending demand for equipment and machinery. However, the impact was not much longer on laser marking market. There was an increase in demand as it helped various sectors due to lack of workforce required to operate the machine. Therefore, it aided in preventing the virus spread while ensuring supply-chain demand consistency.

Competitive Landscape

Major players operating in global laser marking market include Coherent, Inc., TRUMPF Han’s Laser Technology Co., Ltd., Gravotech Marking, IPG Photonics Corp., 600 Group PLC, Danaher, Novanta Inc., KEYENCE CORPORATION, Huagong Tech Co., Ltd., Trotec Laser, Epilog Laser, MECCO, JENOPTIK AG, LaserStar Technologies Corporation, Telesis Technologies, Inc., ACSYS Lasertechnik GmbH, MAXSELL.CO.IN., Videojet Technologies, Inc., and LNA Laser Technology. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Laser Marking Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics Global Laser Marking Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Laser Marking Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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