What is the global market size of Laser Engraving Machine Market?

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).

Who are the key vendors in the Global Laser Engraving Machine Market?

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. 'Gravotech Group', 'Epilog Laser', 'Trotec Laser', 'Universal Laser Systems', 'GCC LaserPro', 'Vytek Laser Systems', 'Eurolaser', 'Rofin-Sinar Laser GmbH', 'Mactron Technology Co. Ltd.', 'Jinan G. Weike Science & Technology Co., Ltd.', 'Hans Laser Technology Industry Group Co., Ltd.', 'Perfect Laser Co., Ltd.', 'LaserStar Technologies Corporation', 'Full Spectrum Laser', 'Mecco Partners LLC', 'Sisma S.p.A.', 'FOBA Laser Marking + Engraving (ALLTEC GmbH)', 'Amada Miyachi America Inc.', 'Technifor', 'TYKMA Electrox Inc'

Laser Engraving Machine Market Size

Laser Engraving Machine Market Insights

Laser Engraving Machine Market size was valued at USD 3.02 Billion in 2023 and is poised to grow from USD 3.27 Billion in 2024 to USD 5.84 Billion by 2032, growing at a CAGR of 8.2% during the forecast period (2025-2032).

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.

FAQs

'Universal Laser Systems (USA) ', 'Trotec Laser GmbH (Austria) ', 'Epilog Laser (USA) ', 'LaserStar Technologies Corporation (USA) ', 'Sintec Optronics (Singapore) ', 'Gravotech (Gravograph) (France) ', 'Kern Laser Systems (USA) ', 'Vytek Laser Systems (USA) ', 'GCC (Gulf Coast Converters) (Taiwan) ', 'Wisely Laser Machinery (China) ', 'KAITIAN LASER (China) ', 'Perfect Laser Co., Ltd. (China) ', 'Han's Laser Technology (China) ', 'OmTech Laser (USA) ', 'Thunder Laser (China) ', 'Aeon Laser (China) ', 'Lotus Laser Systems (UK) ', 'Boss Laser (USA) ', 'Full Spectrum Laser (FSLaser) (USA) ', 'Preenex Laser Systems (USA)'

The need for deep engraving and one-of-a-kind device identification is anticipated to increase in the manufacturing process due to the need for traceability, internal control, production flow management, and certification of item quality. Automation is a key trend for laser engraving machines, facilitating the mass production of laser products. The ease and scalability of automation is expected to drive the laser engraving machine market growth across the globe. These marks require less time to apply and do not fade even when heat and strong chemicals are exposed, especially when produced by fiber laser equipment. As a consequence, it is anticipated that increasing demand for these machines in the military and electronics sectors would propel market expansion during the course of the projected period.

Laser engraving machines have become an essential tool in inventory management and control, part identification, and loss prevention as they provide easily traceable marking on items. The expansion of the laser engraving market globally is also being aided by new applications in industries including garment shops, digital & retail signage, fabric shops, gadget & sports equipment, metallurgy, model building, and woodworking.

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.