Global Laser Marking Market is Expected to Foresee Significant Growth During the Forecast Period. Asia Pacific to Witness the Highest Growth!

The global Laser Marking Market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 7% during the forecast period (2021-2027F). The increasing adoption of laser marking can be attributed to increasing manufacturing globally. Furthermore, The increase in automation in the manufacturing sector, across the globe acts as one of the major factors driving the growth of the laser marking market. The use of marking machines across various industries, such as electronics & semiconductor, aerospace, packaging and construction, automotive, medical, and machine tools, for engraving on materials and premium-quality custom marking are major factors contributing to the market growth. The increasing AI (Automation) in the manufacturing industrial robot installations increased by 10.28 percent in the past decade, from 15,170 in 2008 to 40,373 in 2018, these factors are expected to drive the laser marking market during the forecast period.

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Based on type, the market is segmented into fiber laser, diode laser, solid-state laser, CO2 laser, and others. The fiber laser segment is expected to grow with a significant CAGR during the forecast period. The growth of the segment can be attributed to the growing adoption of the fiber laser in virtually all major industries such as aerospace, automotive e-mobility, dental, electronics, jewelry, medical, scientific, semiconductors, sensors, solar, and others. Furthermore, fiber lasers are ideal for reducing costs overheads and operating costs. They are a cost-effective solution returning their value in output terms and have extremely low maintenance costs.

Based on offering the market is segmented into hardware and software. The hardware segment is expected to gain exponential CAGR during the forecast period. The growing adoption of the hardware segment can be attributed to the high requirement for hardware in several types of laser marking systems. Hardware components, such as laser, controller, filter, rotary device, galvanometer, and power supply, are the building blocks of laser marking and engraving machines and are elemental for their proper functioning.

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Based on application, the market is segmented into the automotive, machine tool, microelectronics, medical, and others. The machine tool segment is expected to grow significantly during the projection period. The growing adoption of laser marking in the machine tool segment can be attributed to its extensive application in machine tools as it enables permanent alphanumerical details featuring the brand name, batch number, and other details. Further, they enable the engraving of batch numbers, manufacturer codes, 1D & 2D bar codes, logos, designs, manufacturer codes, dates of manufacturing, product-related information, and other details facilitating the identification and security of the products.

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For a better understanding of the market adoption of laser marking, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, and Rest of APAC), Rest of World has been conducted. The Asia Pacific region is expected to grow with a significant CAGR during the forecast period, mainly due to growing adoption in countries like China and India. The growth of laser marking in the region can be attributed to the adoption of enhanced manufacturing techniques in the Chinese machine tools industry and the flourishing aerospace and military industry in this region. Furthermore, the growing manufacturing activities in the region, for instance, India’s manufacturing output for 2021 was $446.50B, a 22.32% increase from 2020, is expected to drive the laser marking market in the region.

Coherent, Inc., Han’s Laser Technology Industry Group, Ltd., TRUMPF, Gravotech Engineering PVT Ltd, cab Produkttechnik GmbH & Co. KG, Epilog Laser, 600 Group PLC, MECCO, LaserStar Technologies Corporation, and Carco are some of the key players operating in the global laser marking market. Several M&As along with partnerships have been undertaken by these players to develop various types of laser marking.

Global Laser Marking Market Segmentation

Market Insight, by Type

• Fiber Laser
• Diode Laser
• Solid-State Laser
• CO2 Laser

Market Insight, by Offering

• Hardware
• Software

Market Insight, by Application

• Automotive
• Machine Tool
• Electronics and Microelectronics
• Medical
• Others

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Coherent, Inc.
• Han’s Laser Technology Industry Group, Ltd.
• TRUMPF
• Gravotech Engineering PVT Ltd
• cab Produkttechnik GmbH & Co. KG
• Epilog Laser
• 600 Group PLC
• MECCO
• LaserStar Technologies Corporation
• Carco