Laser Engraving Machine Market Size, Share & Industry Analysis, By Type (Fibre Laser Engraving Machine, CO? Laser Engraving Machine, Diode Laser Engraving Machine, Nd:YAG Laser Engraving Machine), By Industry (Automotive, Aerospace, Packaging, Medical, Industrial & Machine tools, Others) and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Laser engraving machines are playing an important part in enabling industries to have customized information engraved on the surface of the manufactured products. The process of laser engraving is versatile and quick, helping to engrave on any kind of surfaces such as glass, stone, plastic, metals (coated/ non coated) & wood. Laser engraving machine provides the customization ability for specific terms, that includes a higher level of safety measure & protects intellectual property which is among the prominent reasons for the growth of industrial engraving applications.
Laser Engraving Machines are predominantly used by diversified sectors in the following ways, such as CO₂ lasers for engraving alphanumeric codes like part labels, part numbers, batch numbers, & branding. Nd:YAG lasers are used for bar code marking, & labelling. Diode engraving lasers are being used for micro material engraving on semiconductors, electronic chips, motherboards etc. Furthermore, as laser engraving machine provides permanent detailing on products. For instance, its brand name, logo, batch number among others, it is one of the reasonable solution for industrial sectors like machine tools and automotive for identification & security of the products.
Key Market Driver -
Key Market Driver: • New product launches by regional & universal players • Increasing interest in the field of personalization • Increases production speed & efficiency, with reducing human error
Key Market Restraint -
Key Market Restraints: • High initial cost of installation • Relatively less processing speed.
Additionally, laser engraving machines has become an important tool in inventory tracking & control, part identification along with loss prevention as it offers easy trackable marking on the products. Moreover, new areas of application in segments such as apparel shops, digital & retail signage, fabric shops, gadgets & sports equipment, metal working, model making, and woodworking, is one of the reasons for expansion in of the laser engraving market. According to present analytical results of industry expert, with the growth of Laser Engraving Machine market, growth of the global laser processing market is expected to reach more US$ 15 Bn by 2022 due to rising demand for high quality and authentic end-products.
Key Players in the Industry:
Key players operating in the global laser engraving machine market are Universal Laser Systems Inc., Gravotech Marking, Coherent Inc., Trotec Laser GmbH, LaserStar Technologies Corporation, Eurolaser GmbH, Wisely Laser Machinery Limited, Sintec Optronics Pte Ltd, Kern Laser Systems, Vytek Laser Systems.
Regional Analysis:
In Asia Pacific, growth in sectors such as automobile, electronics manufacturing & packaging in emerging economies such as India & China is expected to drive the Laser Engraving Machine market.
Strict regulation from government for marking surgical devices, medical equipment & others, in US & Canada is expected to augment the demand of Laser Engraving Machines for North America.
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Europe, government regulation obligating companies to have clear & permanent mark on the consumer goods is estimated to increase the adoption of laser engraving technology in France, Italy, Germany & others. Furthermore, growing automotive sector is also expected to fuel the Laser Engraving Machine market in the region.
Segmentation
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Key Industry Development
- May 2018: Hunst Laser technology is widely being accepted as it provides non-contact, high precision & high speed processing without damaging the surface.
- Ongoing
- 2023
- 2019-2022
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