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Laser Engraving Machine Market Rising Use of Laser Technology for Quality Checks in Various Verticals Boons Opportunities to Reach $6.6 Billion by 2029, Predicts Exactitude Consultancy

Applying a laser beam to the surface of a material to complete processing is known as laser processing. It is a technique used for laser irradiation, laser cutting, surface modification, laser engraving, laser drilling and micro processing

Luton, Bedfordshire, United Kingdom, Sept. 23, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and advisory arm of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the laser engraving machine Market.

From 2022 to 2029, the laser engraving machine market is expected to grow at a CAGR of 4.61%. By 2029, this is expected to exceed $3.6 billion.

Laser engraving machines are used on various types of surfaces to engrave or create permanent marks. Numerous industries promote the use of laser marking machines because they are faster and more reliable than other marking techniques, such as dot-peen marking machines. International demand for laser marking equipment has also been impacted by Industry 4.0. The main factor driving the expansion of the laser engraving machine market is the increasing need for automation, high speed and accuracy in a range of industries, including the food and beverage, automotive and packaging industries.

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Following are some of the ways laser engraving machines are mainly used by different industries: CO2 lasers are used to engrave alphanumeric codes such as part labels, part numbers, batch numbers and branding. Labeling and marking of barcodes is done using Nd:YAG lasers. The engraving of micromaterials on semiconductors, electrical chips, motherboards, etc. is done using lasers for engraving diodes. In addition, a laser engraving machine allows permanent product customization. Among the suitable solutions for industrial sectors such as machine tools and automobiles for product identification and security includes the brand name, logo and batch number, among others.

Recent developments

  • In May 2022 Class 1 fully secured laser station, the LW2 from Gravotech was launched. This laser station is the most effective and safe option available thanks to its 100 percent industrial construction and simple, compact design. The touch screen makes it easy to manage the marker and use the functions without a computer.

  • In May 2022, Sintech Optronics 1940nm series CW and QCW fiber lasers will produce CW power up to 100W and QCW pulsed power up to 625W from a small, air-cooled, 48V DC powered module. For the most demanding applications, these highly reliable and energy-efficient lasers deliver up to 7 J of energy at a wavelength of 1940 nm.

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Highlights of the Laser Engraving Machine Market Report:

Segments

Sub-segments

By product

  • CO2 Laser Engraving Machine

  • Fiber laser engraving machine

  • Diode laser engraving machine

  • Nd:YAG Laser Engraving Machine

By end user

  • Advertising Decoration

  • Printing and packaging

  • Leather & Clothing

  • Model making

  • arts and crafts

  • others

Per region

Main market players

Universal Laser Systems, Inc., Gravotech, Inc., Trotec Laser GmbH, LaserStar Technologies Corporation, GCC, Wisely Laser Machinery Limited, Epilog Laser, Sintec Optronics Pte Ltd, Kern Laser Systems, Vytek Laser Systems


Players in the Laser Engraving Machine Market:

These key players include Han’s Laser Technology Industry Group Co. Ltd, Telesis Technologies Inc., Videojet Technologies Inc., Trotec Laser Rotec Laser, TYKMA Electrox Inc., MECCO, LaserStar Technologies Corporation, Gravotech Marking, Sea Force Co.Ltd. and others.

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Key Market Segments: Laser Engraving Machine Market:

Laser Engraving Machine Market Segment by Type, 2022-2029:

  • co2 laser

  • fiber laser

  • Green laser

  • UV laser

  • YAG laser

Laser Engraving Machine Market Segment By Application, 2022-2029:

Asia Pacific has the largest CAGR over the forecast period.

In 2020, Asia-Pacific had the largest market share of more than 40%, and it is expected to continue to dominate the market for the expected time. With the increasing use of laser marking equipment in the manufacturing industries in the region, China and India have been the major contributors to the growth of the regional laser engraving machine market. The application of contemporary production techniques in China’s machine tool industry and the developing aerospace industry and military industry in the area are driving the market expansion of the laser engraving machine. Additional factors contributing to its continued dominance include an increase in foreign investment and the relocation of many companies’ manufacturing facilities to countries such as China and India. For example, the Make in India and Belt and Road Initiative (BRI) projects attract funding for infrastructure development.

Growing need for unique device identification and deep engraving

The market demand for laser engraving machines is expected to be driven by the increasing need for distinctive device identification and deep engraving during the manufacturing process for traceability, internal control, production flow management and product quality validation. These marks, especially those made with fiber laser equipment, take less time and do not fade, even after repeated exposure to heat and strong chemicals. As a result, rising demand for these machines in the defense and electronics sector is expected to support market expansion over the forecast period.

Increasing number of strict government regulations and guidelines

The global market demand for laser engraving machines is also expected to be driven by the growing number of strict government regulations and recommendations for labeling surgical and medical equipment to increase its traceability. On the other hand, there is a noticeable increase in demand for leather goods that can be personalized with initials or monogrammed names, such as leather jewelry, purses and handbags. Therefore, over the projection horizon, demand from these industries is expected to drive the expansion of engraving technologies such as laser marking systems. The high cost of laser engraving equipment discourages its use in small and medium-sized businesses, which can hinder the expansion of the market.

Key market insights from the report:

  • Due to its features including longer life, improved precision and suitability for engraving on hard surfaces such as metals, the fiber laser engraver industry is expected to grow at the largest CAGR over the projection period, depending on the product.

  • Regionally, the Asia-Pacific region held the largest market share and is expected to grow over the projection horizon. This is due to the region’s thriving aerospace and defense industries, as well as the adoption of advanced manufacturing processes in China’s machine tool sector.

Key Features of Laser Engraving Machine Market Report:

  • Save and reduce time conducting entry-level research by identifying the growth, size, leading players and segments in the global Laser Engraving Machine Market.

  • Highlights key business priorities to help laser engraver companies realign their business strategies.

  • The key findings and recommendations highlight crucial leading industry trends in the global Laser Engraving Machine Market, thereby enabling players across the value chain to develop effective long-term strategies.

  • Develop/modify business expansion plans by leveraging substantial growth offerings from developed and emerging laser engraving machine markets.

  • Investigate in-depth global market trends and prospects combined with the factors driving the Laser Engraving Machine market as well as the factors hindering it.

  • Improve the decision-making process by understanding the strategies underlying commercial interest in customer products, segmentation, pricing and distribution.

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CONTACT: Irfan Tamboli (Head of Sales) - Exactitudeconsultancy Phone: + 1704 266 3234 [email protected] LinkedIn: https://www.linkedin.com/company/exactitudeconsultancy/
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