USD 4.64 billion
Global Laser Drilling, Cutting, Marking and Engraving Market Size, Share, Growth Analysis, By Technology(Gas Laser, Solid State Laser), By Laser Processing Techniques(Laser Cutting, Laser Drilling), By Machine Configuration(Fixed beam, Moving Beam), By Verticals(Mode Automotive, Aerospace) - Industry Forecast 2024-2031
Report ID:
SQMIG20C2031 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
122 |
Figures:
77
Global Laser Drilling, Cutting, Marking and Engraving Market Insights
Laser Drilling, Cutting, Marking and Engraving Market size was valued at USD 4.64 billion in 2019 and is poised to grow from USD 4.93 billion in 2023 to USD 7.65 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).
With the use of laser technology, operations like laser welding, surface modification, laser cutting, laser marking, laser drilling, and micro-processing may be carried out using a laser beam produced by the thermal effect. A laser is a device that amplifies light through the stimulation of radiation. The most popular projected beam types used in laser processing are moving, stationary, or hybrid beams. The four most common types of laser processing are engraving, material processing, micro-processing, and etching. Numerous applications that require material vaporisation result from high-power lasers' capacity to deliver high levels of irradiance (power per unit area) to absorbent surfaces. Lasers have the ability to cut and drill materials. All of these applications use vaporisation to remove material. Due to their superb beam quality, remarkable durability, and high efficiency, they are used in a wide range of industrial applications. These are mostly utilised in the semiconductor and electronic sectors. Additionally, they have several applications in the military, aerospace, machine tools, automotive, and architectural industries. Various techniques in both business and industrial settings make use of lasers. Common industrial processes utilising laser technology include material processing, branding and engraving, and other micro-processing.
US Laser Drilling, Cutting, Marking and Engraving Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Gas Laser
Fastest Growth
Solid Laser
Growth Rate
6.9% CAGR
Global Laser Drilling, Cutting, Marking and Engraving Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Laser Drilling, Cutting, Marking and Engraving Market Size By Technology, 2021-2028 ($ Bn)
Global Laser Drilling, Cutting, Marking and Engraving Market By Technology, 2021-2028 (%)
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Global Laser Drilling, Cutting, Marking and Engraving Market Segmental Analysis
The Laser Drilling, Cutting, Marking and Engraving Market is segmented on the basis of technology, laser processing techniques, machine configuration, vertical, and region. According to technology, the market is sub segmented into gas laser, solid state laser, semiconductor lasers and others. On the basis of laser processing techniques, it is sub segmented into laser cutting, laser drilling, laser machining, laser engraving, laser marking and others. Based on machine configuration the market is sub segmented into Fixed beam, Moving Beam, Hybrid, Raster mode and Vector Mode. According to vertical it is sub segmented into Automotive, Aerospace, Architecture, Machine Tools, Consumer Electronics and others. Based on the region the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Laser Drilling, Cutting, Marking and Engraving Market Analysis by Technology
Gas laser segment accounted for the highest Laser Drilling, Cutting, Marking and Engraving Market share in 2021. The gas segment is further sub segmented into CO2 Lasers, Excimer/Diode Lasers, Argon Lasers, Chemical Lasers and He-Ne Lasers. These lasers use one or a combination of gases or vapours as the lasing medium. Because of the homogeneity of the medium, a high-quality laser beam is possible. Gas lasers make it simple to eliminate heat by moving the hot gas outside of the lasing area. There are many distinct types of gaseous media that may emit laser light at various wavelengths across the spectrum. In a variety of industrial, research and development, commercial, and defence applications, gas lasers are playing a significant role.
The solid laser segment is expected to witness high growth during the forecast period. The solid laser segment is further sub segmented into Yttrium Aluminum Garnet (YAG) Lasers, Semiconductor Lasers, Thin-disk Lasers, Ruby Lasers and Fiber Lasers. The Fiber laser segment has the highest share in the global market. Solid lasers generate both continuous and pulsed output with great efficiency while preventing the waste of materials in the active medium. These lasers may be used for a variety of tasks, including drilling holes in metal, and military targeting.
Laser Drilling, Cutting, Marking and Engraving Market Analysis by Vertical
The machine tools segment held the highest market share in 2021. The machine tools application segment is anticipated to be driven by the growing use of lasers in the industrial sector for a variety of material processing applications, including cutting, welding, drilling, and engraving. Complete processing of a workpiece using several technologies in one location may be achieved by combining traditional metal cutting technologies with laser processes in one equipment. The key benefits are decrease in material flow between the manufacturing units, which reduces processing time and logistics, and an improvement in manufacturing quality since processing is done in one location. New processing techniques, such laser-assisted machining, are furthermore an option.
Architecture segment is expected to witness high market growth during the forecast period. Lasers aid architects in producing accurate architectural models. These models are able to depict the design correctly before building begins, allowing the required adjustments to be done to fix defects or mitigate the effects of weather conditions like rain, strong storms, and other inevitable natural occurrences.
Global Laser Drilling, Cutting, Marking and Engraving Market By Technology, 2021 (%), 2023 (%)
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Global Laser Drilling, Cutting, Marking and Engraving Market Regional Insights
Asia Pacific holds the largest Laser Drilling, Cutting, Marking and Engraving Market share in 2021. The region is also anticipated to register a high CAGR during the forecast period on account of the rising number of OEMs in the region. It is projected that China would overtake other countries as the primary buyer of industrial lasers and systems for micro- and material-processing. Due to a variety of variables, including increase in the number of OEMs and the expansion of the car industry, countries like India, South Korea, Japan, and China are predicted to have substantial growth. The region's expanding use of laser systems in a variety of application fields is another factor that is anticipated to drive market expansion. The usage of laser processing technology is expected to increase across numerous areas as a result of government laws relating to permanent and visible markings on consumer items. Additionally, the regional market is anticipated to increase due to factors such a high population density, rising R&D expenditures on technology, and expansion of the manufacturing and electronics industries.
Global Laser Drilling, Cutting, Marking and Engraving Market By Technology, 2021-2028, 2024-2031
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Global Laser Drilling, Cutting, Marking and Engraving Market Dynamics
Laser Drilling, Cutting, Marking and Engraving Market Driver
- Global Laser Drilling, Cutting, Marking and Engraving Market size is expected to develop due to the rising demand for high-quality and authentic products, as well as the downsizing of microelectronic devices and changing preferences for laser-based material processing over conventional methods. In addition, factors including expanding demand for mobile electronics and vehicles as well as green laser devices for projection applications are anticipated to fuel market growth.
- Compared to conventional material marking processes, laser marking systems provide greater precision, improved readability, reduced labour costs, and little material loss. When compared to conventional marking methods like dot peen marking, laser marking devices are incredibly quick. In plants where many objects need to be marked or engraved, they may generate a 2D pattern in less than a second as opposed to the five seconds required by dot peen marking systems. Laser marking methods are most frequently used for annealing, carbon migration, foaming, and colouring.
Laser Drilling, Cutting, Marking and Engraving Market Restraint
- Potential barriers to the sector as a whole include things like a shortage of technical skills, fluctuating macroeconomic patterns, and a high cost of ownership that includes maintenance, implementation, and investment expenditures. High-power laser technology issues and environmental issues connected to the misuse of rare earth metals are the main challenges facing the laser processing market.
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Global Laser Drilling, Cutting, Marking and Engraving Market Competitive Landscape
Laser Drilling, Cutting, Marking and Engraving Market is highly competitive due to the presence of global players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Laser Drilling, Cutting, Marking and Engraving Market Top Player's Company Profiles
- Coherent Inc.
- Trumpf Group
- IPG Photonics Corporation
- Jenoptik AG
- Han's Laser Technology Industry Group Co. Ltd.
- Lumentum Holdings Inc.
- Rofin-Sinar Technologies Inc.
- Gravotech Marking SAS
- MKS Instruments Inc.
- LaserStar Technologies Corporation
- Epilog Laser
- Eurolaser GmbH
- Vytek Laser Systems
- Trotec Laser GmbH
- Universal Laser Systems Inc.
- Control Micro Systems Inc.
- Foba Laser Marking and Engraving
- Prima Industrie S.p.A.
- Laservision USA
- Sisma S.p.A
Laser Drilling, Cutting, Marking and Engraving Market Recent Developments
- In October 2022, The world's first industrial-grade 3000-watt laser cleaning system, the CleanTech 3000-CTH, was sold for the first time by Laser Photonics Corporation, a major player in the development of Cleantech laser systems for laser cleaning and other material applications. A mining company in Australia will employ the technology.
- In June 2022, Coherent, Inc. has been acquired by I1-VI Inc. successfully. The merged company's operations will be more evenly dispersed over the whole value chain, from raw materials to components, subsystems, and systems, as well as to services. Coherent is intended to be the name of the merged business.
Global Laser Drilling, Cutting, Marking and Engraving Key Market Trends
- Femtosecond laser sources' capacity to deliver both power and control has revolutionised the processing of materials. Femtosecond lasers must be utilised in conjunction with high-speed motion systems like galvo and polygon scanners in order to effectively use the available power and transform it to high-throughput processing. Whether cutting, engraving, surfacing, marking, or scribing, the spatial overlap of subsequent laser pulses on the workpiece is a crucial factor in determining the best possible machining quality. In the automobile and aerospace sectors, carbon fibre composites are becoming standard. Despite having advantageous qualities such a high strength-to-weight ratio, these materials are difficult to machine and drill to make rivet holes for attaching pieces. The femtosecond laser can be useful in this situation. Cutting or drilling may be done while leaving the epoxy resin in the surrounding material intact since heat diffusion is considerably minimised. This makes it possible to drill holes and carve out features without sacrificing the carbon fibre sheet's strength, which is one of the main justifications for using this material in the first place. Thus there will be various uses and advantages of femtosecond laser sources in the upcoming future.
Global Laser Drilling, Cutting, Marking and Engraving Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Laser Drilling, Cutting, Marking and Engraving Market analysis, government laws regarding the use of this technology for product marking and engraving are anticipated to have a positive effect on market growth during the forecast period. Due to the technology's widespread use in a variety of applications, including welding, marking, cutting, drilling, and engraving, the market is expected to experience rapid expansion over the next few years. It is projected that market expansion will be fueled in the near future by stringent government regulations regarding the use of laser technology for engraving and marking, as well as the expanding acceptance of lasers across many industries.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.64 billion |
| Market size value in 2031 | USD 7.65 billion |
| Growth Rate | 6.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Laser Drilling, Cutting, Marking and Engraving Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Laser Drilling, Cutting, Marking and Engraving Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Laser Drilling, Cutting, Marking and Engraving Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Laser Drilling, Cutting, Marking and Engraving Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Laser Drilling, Cutting, Marking and Engraving Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Laser Drilling, Cutting, Marking and Engraving Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Laser Drilling, Cutting, Marking and Engraving Market Report Snapshots
- Global Laser Drilling, Cutting, Marking and Engraving Companies
- Global Laser Drilling, Cutting, Marking and Engraving Market Size
- Global Laser Drilling, Cutting, Marking and Engraving Market Analysis
- Global Laser Drilling, Cutting, Marking and Engraving Geographic Analysis
- Global Laser Drilling, Cutting, Marking and Engraving Market News
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