Covina, CA, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Laser marking systems are ideal for marking logos, bar codes, and matrix codes on almost all types of materials. In the automotive industry, markers are widely used for engraving serial numbers on tires without altering the tire structure.
The global laser engraving machine market accounted for US$ 2.6 billion in 2019 and is estimated to be US$ 5.3 billion by 2029 and is anticipated to register a CAGR of 7.5%.
The report "Global Laser Engraving Machine Market, By Product (CO2 Laser Engraving Machine, Fiber Laser Engraving Machine, Diode Laser Engraving Machine, and Nd:YAG Laser Engraving Machine), By End User (Advertising Decoration, Printing & Packaging, Leather & Apparel, Model Making, Arts & Crafts, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
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In January 2020, Trumpf (Germany) acquired a minority stake in GLOphotonics, a France-based laser technology startup.
In May 2019, TYKMA Electrox announced collaboration with Cerakote, a provider of thin-film ceramic coating for several applications. The partnership was aimed at providing advanced imaging on products with Cerakote coatings by blending it with the former’s laser marking abilities on a variety of 3D objects.
In August 2019, Han’s Laser (China) launched a multi-axis ultrafast micromachining equipment that can control the rotation of the laser and can control X,Y,Z motion in three directions.
In May 2018, Hunst Laser technology is widely being accepted as it provides non-contact, high precision & high speed processing without damaging the surface.
Growing need for unique device identification and deep engraving
The growing need for unique device identification and deep engraving during the manufacturing process for the target of traceability, internal control, production flow control, and merchandise quality validation are anticipated to fuel the market demand. These markings done through these machines, especially fiber laser machine, consume less time and do not fade, even with continuous exposure to heat and harsh chemicals. Hence, growing demand for such machines in electronics and defense industries is further anticipated to bolster the market growth over the forecast period.
Increasing number of stringent government regulations and guidelines
The increasing number of stringent government regulations and guidelines for markings on surgical and medical equipment to improve their traceability is also projected to propel the market demand globally. On the other hand, high demand has been observed for personalized leather products, including leather jewelry, purses, and handbags, with customizations such as monogrammed initials and names. Hence, the market demand from such industries is projected to propel the growth of engraving technologies such as laser marking systems in the forecast period. However, High cost of laser engraving machines lowers its adoption in small and medium scale industries might be hampering the growth of the market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Laser Engraving Machine Market”, By Product (CO2 Laser Engraving Machine, Fiber Laser Engraving Machine, Diode Laser Engraving Machine, and Nd:YAG Laser Engraving Machine), By End User (Advertising Decoration, Printing & Packaging, Leather & Apparel, Model Making, Arts & Crafts, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global laser engraving machine market accounted for US$ 2.6 billion in 2019 and is estimated to be US$ 5.3 billion by 2029 and is anticipated to register a CAGR of 7.5%. The market report has been segmented on the basis of product, end user, and region.
Depending upon product, the fiber laser engraving machine segment is projected to grow at highest CAGR over the forecast period owing its features i.e. longer service life, higher accuracy and suitable for engraving on hard surface like metals.
By region, The Asia- Pacific region dominated the market and is expected to expand over the forecast period. This is attributed due to adoption of enhanced manufacturing techniques in the Chinese machine tools industry and the flourishing aerospace and military industry in the region.
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The prominent player operating in the global laser engraving machine market includes Han's Laser Technology Industry Group Co., Ltd, Telesis Technologies, Inc., Videojet Technologies, Inc., Trotec Laser GmbH, Epilog Laser, TYKMA Electrox, Inc., MECCO, LaserStar Technologies Corporation, Gravotech Marking, and Sea Force Co., Ltd.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Explains an overview of the product portfolio, including product development, planning, and positioning
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Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
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Market at Glance
Market Share (%) and BPS Analysis, by Region
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