November 2, 2022 (GLOBE NEWSWIRE) -- Laser marking systems are ideal for marking logos, barcodes and matrix codes on virtually any type of material. In the automotive industry, markings are widely used to engrave serial numbers on tires without changing the tire structure.
The global laser engraving machine market size was valued at USD 2.6 billion in 2019 and is expected to reach USD 5.3 billion by 2029, with an expected CAGR of 7.5%.
Report "Global Laser Engraving Machines Market, By Product (CO2 Laser Engraving Machines, Fiber Laser Engraver Machines, Diode Laser Engraving Machines & Nd:YAG Laser Engraving Machines), By End User (Advertising Decoration, Printing & Packaging, Leather & Apparel), Model Making, Arts and Crafts and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast to 2029".
Key Highlights:
In January 2020, Trumpf (Germany) acquired a minority stake in French laser technology startup GLOphotonics.
In May 2019, TYKMA Electrox announced a partnership with Cerakote, a supplier of thin-film ceramic coatings for a variety of applications. The collaboration aims to provide advanced imaging for products with Cerakote coatings by combining Cerakote coatings with the former's laser marking capabilities on a variety of 3D objects.
In August 2019, Han's Laser (China) launched a multi-axis ultra-fast micro-machining equipment that can control the rotation of the laser and the movement in the three directions of X, Y and Z.
In May 2018, Hunst Laser technology was widely accepted for its non-contact, high-precision and high-speed machining without damaging surfaces.
In September 2022, LaserPecker released the latest handheld laser engraving machine LaserPecker 3, began to vigorously develop fiber laser engraving machines, and cooperated with many well-known distributors to expand the market scale. Previously, LaserPecker 2 was liked by many users, and they are all looking forward to the new model. The laser engraving machine was released.
Growing Demand for Unique Device Identification and Deep Engraving
Growing demand for unique device identification and deep engraving during manufacturing to achieve the goals of traceability, internal control, production process control, and commodity quality verification is expected to drive market demand. These markings made by these machines, especially fiber laser machines, consume less time and do not fade even with continuous exposure to heat and harsh chemicals. Hence, the growing demand for such machines in the electronics and defense industries is expected to further propel the market growth over the forecast period.
Increasingly Stringent Government Regulations and Guidelines
Increasing stringent government regulations and guidelines to improve the marking of surgical and medical devices to improve their traceability is also expected to drive the global market demand. On the other hand, personalized leather products are in high demand, including leather jewelry, wallets and handbags, as well as customization such as initials and names. Hence, the market demand in these industries is expected to drive the growth of engraving technologies such as laser marking systems over the forecast period. However, the high cost of laser engraving machines has reduced its adoption in small and medium industries, which may hinder the market growth.
In-depth understanding of "Global Laser Engraving Machines Market", by Product (CO2 Laser Engraving Machines, Fiber Laser Engraving Machines, Diode Laser Engraving Machines and Nd:YAG Laser Engraving Machines), End User (Advertising Decoration, Printing Packaging, Leather Apparel, Model Making , crafts, etc.) and regions (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Trends, Analysis and Forecast to 2029
Key Market Insights From the Report
The global laser engraving machine market size was valued at USD 2.6 billion in 2019 and is expected to reach USD 5.3 billion by 2029, with an expected CAGR of 7.5%. The market report has been segmented on the basis of product, end user, and region.
Depending on the product, the fiber laser engraving machine segment is expected to grow at the highest CAGR during the forecast period owing to its longer lifespan, higher precision and suitability for engraving on hard surfaces such as metals Features.
By region, Asia Pacific dominates the market and is expected to expand over the forecast period. This is attributable to the adoption of advanced manufacturing technologies in China's machine tool industry and the booming aerospace and military industries in the region.
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Competitive Landscape:
Prominent players operating in the global laser engraving machine market include Han's Laser Technology Industry Group Co., Ltd., xTool, Ortur, Atomstack, Scuplfun, Telesis Technologies, Inc., and Sea Force Co., Ltd.
The market provides detailed information on industrial base, productivity, advantages, manufacturers and recent trends that will help companies expand their business and boost financial growth. In addition, the report presents dynamic factors including segment, sub-segment, regional market, competition, key players and market forecast. Additionally, the market includes recent collaborations, mergers, acquisitions, and partnerships, as well as regulatory frameworks in different regions that impact the market trajectory. The report contains the latest technological advancements and innovations impacting the global market.
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Some of The Key Points Answered In This Market Report are as Follows
- Explain an overview of the product portfolio, including product development, planning and positioning
- Explain details of key operating strategies, focusing on each company's R&D strategy, corporate structure, localization strategy, production capacity and financial performance.
- Detailed analysis of the market revenue during the forecast period.
- Examine various prospects of the market with the help of Porter's Five Forces Analysis, PEST and SWOT analysis.
- The segments that are expected to dominate the market are studied.
- The study analyzes the regions expected to witness the highest growth during the forecast period
- Key Topics Covered
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