Laser Marking Machine Market
Growth Factors of Laser Marking Machine Market
The laser marking machine market size was valued at USD 3.09 billion in 2023, and the market is now projected to grow from USD 3.22 billion in 2024 to USD 6.01 billion by 2032, exhibiting a CAGR of 8.1% during the forecast period of 2024-2032.
The COVID-19 pandemic brought on sizable disruptions in the market, together with temporary shutdowns of producing facilities and supply chain demanding situations. However, the market has rebounded due to the extensive-ranging packages throughout industries like electronics, car, and packaging. The market's boom is pushed by way of the demand for non-touch, high-speed, and precise marking on materials which include metals and plastics. Post-pandemic, the market is anticipated to show sturdy increase as industries resume full operations.
The transformation of the manufacturing zone with Industry 4.0 is driving productiveness, whilst investments and supportive rules in electronics and semiconductors are reshaping production processes. For instance, Saudi Arabia's issuance of over 1,300 new business licenses with investments exceeding USD 21 billion highlights this fashion. As modern manufacturing advances, there is rising call for efficient methods, boosting the laser marking system market. Industries are an increasing number of adopting lasers marking machines for their capacity to offer durable and robust markings on products.
Automation and tech-incorporated answers are using market growth with the development of superior software program for the manufacturing industry. These user-friendly software answers decorate the capability of laser marking machines. For example, in 2023, Cajo Technologies from Finland delivered CajoSuite, a laser marking software program featuring superior settings for various substances, which includes polymers. This innovation improves operational comfort and efficiency in production processes.
Comprehensive Analysis of Laser Marking Machine Market
The laser marking machine market growth is rising at an exponential rate due to its market segmentation. This market expansion correctly offers a detailed nearby assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by product type analysis, by mobility type analysis, by material type analysis and by end use analysis. By product type analysis include fiber laser, diode laser, solid state laser, CO2 laser, and UV laser. By mobility type analysis include fixed and portable. By material type analysis include metals, glass, plastics, ceramics, and others. By end use analysis include general industries, automotive, aerospace, packaging, healthcare, electronics & semiconductors, and others.
The Asia Pacific region lead the laser marking machine market share by benefitting a market size of USD 1.92 billion in 2023 due to the rising automotive vehicle production across the country.
The top players in the market play a crucial role in the automation industry assuring industrial prospectus growth and setting market standards. These players include, Coherent Inc., IPG Photonics Corp, Keyence Corporation, Hans Laser Technology Co. Ltd., Trumpf, Huagong Tech Co. Ltd., Videojet Technologies Inc., Tro Group, Novanta Inc., 600 Group these market players provide a level-playing competitive landscape.
In April 2023, FOBA unveiled two new laser marking systems, the FOBA M1000 and M2000, at the International Manufacturing Technology Show (IMTS) in Chicago, featuring various functionalities including an integrated camera.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 8.1% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Product Type
- Fiber Laser
- Diode Laser
- Solid-State Laser
- CO2 Laser
- UV laser
By Mobility Type
By Material Type
- Metal
- Glass
- Plastics
- Ceramics
- Others (Wood)
By End Use
- General Industries
- Automotive
- Aerospace
- Packaging
- Healthcare
- Electronics & Semiconductor
- Others (jewelry)
By Region
- North America (By Product Type, By Mobility Type, By Material Type, By End Use, and By Country)
- U.S.
- Canada
- Mexico
- South America (By Product Type, By Mobility Type, By Material Type, By End Use, and By Country)
- Brazil
- Argentina
- Rest of America
- Asia Pacific (By Product Type, By Mobility Type, By Material Type, By End Use, and By Country)
- China
- India
- Japan
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
- Europe (By Product Type, By Mobility Type, By Material Type, By End Use, and By Country)
- U.K.
- Germany
- France
- Italy
- Spain
- BENELUX
- Nordics
- Russia
- Rest of Europe
- Middle East & Africa (By Product Type, By Mobility Type, By Material Type, By End Use, and By Country)
- GCC Countries
- Turkey
- South Africa
- Israel
- North Africa
- Rest of MEA
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