Laser Marking Market: Current Analysis and Forecast (2021-2027)

Report Description

The Global Laser Marking Market is anticipated to grow with an elevated CAGR of around 7% over the forecast period (2021-2027). The increasing industrialization across the globe, along with increasing automation in the manufacturing sector are the key factors driving the growth of the laser marking market. Furthermore, laser marking machines are used widely across various industries such as automotive, electronics & semiconductors, medical, aerospace, machine tools, and packaging. Laser markings are more durable and convenient to read and scan, which is resulting in the increasing demand for marking machines. Moreover, the growing construction spending is also expected to drive the laser marking market globally. For instance, construction-related spending accounts for 13% of the world’s GDP, and laser marking is used in construction for custom marking and engraving for the identification of products.

Insights Presented in the Report

“Amongst type, fiber laser segment holds the major share”

Based on type, the market is segmented into fiber laser, diode laser, solid-state laser, CO2 laser, and others. The fiber laser is expected to grow significantly during the forecast period. The growing adoption of fiber lasers can be attributed to their applicability on a wide range of materials, fiber lasers are types of devices, which are optically pumped, most commonly with laser diodes but in a few cases with other fiber lasers. The optics used in these systems, are usually fiber components, with most, or all the components fiber-coupled to one another. The growing demand from the automobile industry and technological advancement concerning fiber lasers is expected for the fiber laser segment.

“Amongst offering, the hardware segment holds the major share”

Based on the offering, the market is segmented into hardware and software. The hardware segment is expected to grow with a significant CAGR during the forecast period. The growing demand for the hardware segment can be attributed to the high requirement for hardware in several types of laser marking systems leads to the growth of the global fiber laser market. 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. This is attributed to the market growth in this segment during the forecast period.

Amongst application, the machine tool segment holds the major share”

Based on application, the market is segmented into automotive, machine tool, electronics and microelectronics, medical, and others. The machine tool segment is expected to grow with an exponential CAGR during the forecast period. laser marking offers some decisive advantages over other methods, such as etching or embossing. Laser markings on metal tools boast long-term durability and enormous flexibility. A laser marking can be applied very precisely to the tool on different geometries, even with the smallest font sizes. These factors are expected to drive the application of laser marking on machine tools.

“Asia Pacific represents one of the largest markets of laser marking market”

For a better understanding of the market dynamics of the laser marking market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, and Rest of APAC), Rest of World has been conducted. In 2020, The Asia Pacific market is expected to hold a significant share of the laser marking market and is expected to witness exponential growth during the forecast period. This is mainly attributed to the presence of large players in the region who are investing heavily in the integration of the latest technology and the increase in demand for fiber lasers in the electronics and automotive industry. Furthermore, this region presents remarkable opportunities for venture capitalists and investors, because the developed markets are comparatively saturated. The growing adoption of laser marking can also be attributed to the growth that the automotive industry experienced in the last few years, for instance, Asia exported 635,000 units of motor vehicles exported manufacturers in 2018 and this number is expected to increase substantially in the future.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

Customization Options:

The global laser marking market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Detailed Research Methodology of the Global Laser Marking Market (2021-2027)

Analyzing the historical market, estimating of the current market, and forecasting the future market of the global laser marking market were the three major steps undertaken to create and analyze the adoption of laser marking in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global laser marking market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of the industry’s segments and sub-segments. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the laser marking through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the laser marking market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, offering, and application. Further country-level analyses were conducted to evaluate the overall adoption of laser marking across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the laser marking market. Further, we conducted factor analysis using dependent and independent variables such as type, offering, and application. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the laser marking sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Laser marking market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of laser marking across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the laser marking market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

A data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the laser marking market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, offering, and application of the laser marking market.

The main objective of the Laser marking Market Study

The current & future market trends of laser marking were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of laser marking in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, offering, and application
• Define and analysis of the regulatory framework for the laser marking industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the laser marking market for the major region
• Major regions studied in the report include North America, Europe, Asia-Pacific and the Rest of the world
• Company profiles of the Laser marking market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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