Laser Marking Market Size is Projected To Reach USD 2728.9 Million By 2028 At A CAGR of 4.9% | Valuates Reports
BANGALORE, India, Oct. 6, 2022 /PRNewswire/ -- Laser Marking Market is segmented by Type - Fiber Laser, Diode Laser, Solid State Laser, CO2 Laser, by Application - Semiconductor & Electronics, Automotive, Aerospace & Defense, Others. Global Opportunity Analysis and Industry Forecast, 2022 - 2028. It is published in Valuates Reports under the Electronics & Electrical Category.
The global Laser Marking market size is projected to reach USD 2728.9 million by 2028, from USD 1898.1 million in 2021, at a CAGR of 4.9% during 2022-2028.
Major factors driving the growth of the Laser Marking market
The expansion of the smart manufacturing industry and the expanding use of laser markers for part identification and traceability are both responsible for the growth of the laser marking market.
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TRENDS INFLUENCING THE GROWTH OF LASER MARKING MARKET
Laser marking machines are in demand as a result of growing industrialization since they are useful for marking and coding applications including logos, QR codes, barcodes, and graphics. This aspect is anticipated to drive the Laser Marking market The demand for laser marking machines in the expanding automotive, aerospace, electronics, pharmaceutical, medical, and cosmetic industries for marking on shipper cartons, leather, glass bottles, metals, plastic, and PP labels to ensure brand protection, traceability, and other uses has created a wealth of opportunity for the product in the market.
The automobile is said to have about 30,000 pieces in total. Even if the amount can fluctuate from car to vehicle, this will remain the same with a few hundred or thousand difference. Laser marking is essential to the automotive sector. For consistent traceability and security purposes, automobile parts require clear, consistent markings that must be guaranteed. Almost any material used in the automotive sector can be marked with legible alphanumeric, barcodes, and data matrix codes using laser marking devices. The lifetime of an automobile or the component part is totally guaranteed by the durability of these markings. Thus, the increasing use in the automobile industry is expected to drive the growth of the Laser Marking market
Laser marking ensures clean processing with little contamination because the technique is non-contact. The damage-free procedure includes little to no material penetration, unlike printing systems that will burn down the material by marking. In order to comply with rules that protect quality, traceability, and other safety criteria, many government organizations want some form of identity. Similar to this, the Federal Aviation Administration mandates that aircraft engineers designate certain components including engines, propellers, and other things. Each part must be tagged using an approved fireproof method, and the FAA will decide which marks are necessary (such as model, builder, and certification). These advantages are expected to further drive the Laser Marking market growth.
In spite of the fact that lasers can be used in a wide range of industries and applications, the most common method for preventing counterfeit goods is to brand, engrave, or etch things using lasers. A permanent, indelible imprint is produced through laser marking. Different codes increase intricacy to discourage counterfeiters. Laser marking is a quick procedure that can keep up with all production line speeds. Laser marks can be undetectable or clearly apparent. Codes can demonstrate product traceability and reveal whether a product is authentic or not. This factor is expected to further fuel the laser marking market growth.
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LASER MARKING MARKET SHARE ANALYSIS
The fiber laser is expected to be the most lucrative during the forecast period. This is due to a number of advantages, including flexible fiber light, good optical quality, high output power, and small machine size.
During the forecast period, the APAC laser marking market is anticipated to develop at the highest CAGR. When compared to other regions, Asia Pacific has been at the forefront of adopting laser marking products and solutions. The large population in the area, rising R&D expenditures and expanding manufacturing and electronics sectors are anticipated to propel the laser marking market's expansion. One of the main centers for the production of automobiles is China, where laser marking is widely used.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Coherent
- Han's Laser
- Trumpf
- Gravotech
- Jenoptik
- Epilog Laser
- 600 Group
- Mecco
- Laserstar
- Novanta
- IPG Photonics
- Beamer Laser Marking Systems
- Eurolaser
- Foba
- Keyence
- Photoscribe Technologies
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SIMILAR REPORTS
- The global Laser Marking Machine market was valued at USD 2193.7 million in 2020 and it is expected to reach USD 3101.7 million by the end of 2027, growing at a CAGR of 4.6% during 2021-2027.
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- In 2020, the global Power Semiconductor market size was USD 43750 million and it is expected to reach USD 62800 million by the end of 2027, with a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period 2021-2027.
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