USD 2.8 billion
Report ID: SQSG20I2007 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 68 | Figures: 75
Laser Engraving Machine Market size was valued at USD 2.8 billion in 2021 and is poised to grow from USD 3.02 billion in 2022 to USD 5.4 billion by 2030, growing at a CAGR of 8.2% in the forecast period (2023-2030).
A laser engraving machine consists of three main parts laser, a controller, and a surface. The laser is like a pen. A controller uses the laser beam to trace patterns on the surface of an object. The controller uses a computer to control the direction, intensity, speed of movement, and spread of the laser beam aimed at the surface. In order to create deep, lasting markings, materials are vaporized during the laser engraving process. By scraping away layers of the material's surface, the laser beam behaves like a chisel to create markings on the surface. This process is known as laser engraving. The increase in the product launches by prominent market players to meet the demand that is arising will result in the growth of the global laser engraving machine market during the forecast period. For example, the ULTRA R5000, the newest member of the ULTRA series of laser material processing devices, was revealed by Universal Laser Systems, Inc. The ULTRA R5000 is a professional, high-quality, mid-range, and flexible platform created to meet current and future requirements for general manufacturing, product development, materials research, and educational customer environments. It is ideal for laser processing a wide range of natural and advanced polymer and composite materials. Developments like these are expected to boost the growth of the global laser engraving machine market.Materials that can be engraved are natural materials, such as wood, plastic, metals, stone, glass jewelry, and others
The demand for laser marking equipment and services has increased significantly in the medical industry as a result of the COVID-19 pandemic. The demand for masks and several other covid treatment-related medical devices has suddenly increased, and makers of these products have started employing laser marking machines to stamp their brand names and certificates. Total laser income should increase only somewhat, by around 8%, to go back to levels similar to those seen before COVID-19, around US$ 5.8 billion. With around 55% of market sales, fiber lasers will once more be the industry leader at all power levels. The main drivers to restore revenue flow are anticipated to be metal cutting at 6% and fine metal processing at 14%.
US Laser Engraving Machine Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.8 billion
Fiber Laser Engraving Machines
co₂ laser engraving machines
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Global laser engraving machine market is segmented based on the type, industry, and region. Based on the type, the global laser engraving machine market is segmented as fiber laser engraving machines, co₂ laser engraving machines, diode laser engraving machines, and ND: YAG laser engraving machines. Based on industry, the global laser engraving machine market is segmented as automotive, aerospace, packaging, medical, industrial & machine, tools, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Laser Engraving Machine Market Analysis by Type
In 2021, the fiber laser segment held the largest share in the global laser engraving machine market. This was attributed to the high strength and little maintenance guaranteed by the fiber laser's durable construction and premium optical parts. Its application is straightforward in all mounting situations, whether it is incorporated on manufacturing lines or robotic cells. To drastically shorten installation times and expenses, the laser marker can be placed with its surface facing the component. The Fibre laser marker is supplied as standard with full network communication ports, providing full compatibility with all PLC brands and ensuring rapid and affordable integration. This allows it to satisfy the demands for Industry 4.0 in terms of identifying marking. This segment accounted for approximately 45% of the total revenue and will continue to dominate the global laser engraving machine market during the forecast period.
Following this, the use of UV laser diodes in medical settings to treat conditions including psoriasis, acne, and fine lines has increased, which is expected to continue throughout the forecast period. Acne is the most prevalent kind of skin illness in the US, according to the American Academy of Dermatology Association. Acne affects almost 50 million Americans on a yearly basis, while atopic dermatitis, psoriasis, and rosacea are a few of the other prominent skin conditions seen in the area. The association estimates that in North America, psoriasis affects over 7.5 million individuals yearly and rosacea affects about 16 million people annually. Therefore, this segment is expected to observe substantial growth in the global laser engraving machine market.
Laser Engraving Machine Market Analysis by Industry
In 2021, the industrial and machine tools segment held the largest share in the global laser engraving machine market. This is due to the application areas of laser marking which include automotive applications such as under-bonnet parts, structural components, body panels, etc. As laser marking doesn't require inks or pretreatment, it can be safely integrated into the assembly line, and it can be used on products with a variety of geometries under computer control, it can combine mass production with quick customization. This leads to high levels of reproducibility, speed, and throughput. Due to these advantages, this segment is expected to dominate the global laser engraving machine market during the forecast period.
Following this, the aerospace segment is also expected to observe significant growth in the global laser engraving machine market during the forecast period. This is owing to the use of lasers for the different aeronautical components' markings. This includes a wide variety of components, both big and little, such as electrical circuit boards or motor units. The application of circular marks to objects like screw heads. Typically, these heads have several diameters and sizes so that laser marks can transition between them. Creating logos and images with bar codes or labels that can be scanned, as well as making the traceability mark for the items, are a few of the reasons why dot peen marking is used.
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In 2021, the North American region had the biggest market share, accounting for 40.2%. The United States and Canada are the two most important nations in North America. The demand for laser engraving machines is increasing in these countries due to strict government regulations for medical engraving equipment, surgical equipment, and other things. The participation of major vendors in the laser engraving machine market, such as IPG Photonics Corporation, is anticipated to drive the market expansion in the North American region by the end of 2028.
The constant launch of new products by prominent market players is also expected to boost the growth of the global laser engraving market during the forecast period. For example, The ULTRA X6000 laser system from Universal Laser System has nearly limitless possibilities to process a wide variety of materials with great precision. The revolutionary MultiWave Hybrid technology, which is at the heart of the ULTRA X6000, enables users to maximize laser energy absorption by fusing many wavelengths into a single focus point on the material. This makes it possible for the system to process the widest variety of materials, including complicated composites and multi-layer laminates.
Through the projection period, Europe is anticipated to have considerable development at a CAGR of 8.1%. The dominance of automakers and producers of automobile parts in countries like Germany, Europe, Italy, and France is credited with the region's expansion. The aircraft and maritime sectors are also anticipated to have rapid growth, which would support the market expansion in the region.
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Laser Engraving Machine Market Driver
The availability of compact and safe laser engraving machines that do not require specialised knowledge for operations and also At a reasonable cost, consumers can purchase and use simple laser engraving machines for home use in arts and crafts, leather, and apparel. These factors will help to enhance their traceability, the market demand for laser engraving machines is expected to bolster over the coming years.
Laser Engraving Machine Market Restraint
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The global laser engraving machine market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, etc., are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. For example, The Jasper Flex, a new femtosecond laser device from Sintech Optronics, has recently been unveiled. The cutting-edge Jasper Flex is designed for systems with volume restrictions that demand high laser power and exceptional pulse quality. It has a maximum power of 30W. The Jasper Flex is a scaled-down version of the original Jasper laser, the first all-fiber high-power laser created without the need for SESAM. This innovative model offers consumers an unmatched level of dependability and longevity.
Top Players in the Global Laser Engraving Machine Market
Laser Engraving Machine Market Recent Developments
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 Global Laser Engraving Machine Market Analysis, in terms of type, the fiber laser segment held the largest market share due to the high strength and little maintenance guaranteed by the fiber laser's durable construction and premium optical parts. By industry, the industrial and machine tools segment held the largest market share, this is due to the application areas of laser marking, which include automotive applications such as under-bonnet parts, structural components, body panels, etc. And by region, the North American region held the largest share in the global laser engraving machine market due to the rising demand for laser engraving machines due to severe government regulations for medical engraving equipment, surgical equipment, and other things.
|Market size value in 2021
|USD 2.8 billion
|Market size value in 2030
|USD 5.4 billion
|Forecast Unit (Value)
|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)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Laser Engraving Machine 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 Engraving Machine 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.
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