Press Release

Global Laser Engraving Machine Market to Grow at a CAGR of 8.3% During 2024-2032, Aided by the Growing Adoption of High-Speed and Automated Manufacturing Processes across Several Industries.

Global Laser Engraving Machine Market

According to a new report by EMR titled, ‘Global Laser Engraving Machine Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 3.51 billion in 2023. The market is estimated to grow at a CAGR of 8.3% between 2024 and 2032 to reach around USD 7.18 billion by 2032.

The laser engraving machine market growth can be attributed to the increasing demand for unique item identification and high-precision engraving during the manufacturing process. Applications such as traceability, quality control, production monitoring, and certification are expected to fuel requirements for solutions that can apply customised markings with speed and permanence.

 

Specifically, markings generated through fibre laser technology complete the task faster while maintaining clarity even when exposed to extreme temperatures or harsh chemicals. Consequently, rising needs for durable identification and inspection tools in the electronics and defence sectors are anticipated to propel the market expansion throughout the forecast period.

 

The expansion of high-speed and automated manufacturing processes across multiple industry verticals represents a primary driver of the market growth. The widespread use of these products in the automotive and electronics sectors stems from a heightened focus on quality and customisation of components.

 

Innovative advancements in laser engraving machine technology, such as the development of more efficient and cost-effective variants, are presenting lucrative growth opportunities within the market. Furthermore, increasing product adoption across industries such as medical, aerospace, print and advertising, and jewellery design is serving as another growth driver.

 

Automotive manufacturers like Ford Motors Co. (NYSE: F) use laser markers to engrave serial numbers onto tyres in a way that does not compromise the underlying tyre structure. Compared to conventional engraving methods, laser marking presents a more versatile solution for identifying a wide array of aircraft components given its ability to generate highly durable markings.

 

The surging launch of innovative laser engraving machines by key players is aiding the market development. For instance, in November 2023, SainSmart launched a laser engraving machine, the Genmitsu L8 laser machine, featuring a 360° visual angle exhaust acrylic laser shield, 20W/40W optical power output, advanced safety features, and a 40,000 mm/min operating speed. Due to the blend of speed and power, the machine is ideal for beginners, hobbyists, and creators.

 

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Market Breakup by Product Type, End Use, and Region:

  • On the basis of the product type, the market is divided into CO2 laser, fibre laser, diode laser, and YAG laser.
  • The market, based on end use, is segmented into advertising decoration, printing and packaging, leather and apparel, model making, and arts and crafts, among others.
  • By region, the market can be classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Key Findings of the Report:

  • Key advantages of laser engraving include its non-contact nature, which eliminates issues of wear to marking heads, flexibility to mark a vast range of materials from plastics to metal alloys and composites, and ability to generate micro- and nano-scale marks at very high speeds. Laser technology provides traceability and anti-counterfeiting solutions for manufacturers seeking to protect their brands and authenticate products throughout global supply chains.
  • Laser engraving allows for precise, contactless identification marking directly onto component surfaces using a focused laser beam. Unlike traditional marking methods, laser marking produces scannable codes, logos, text, serial numbers, and other alphanumerical data with no contact to the surface or introduction of inks, chemicals or abrasives. It supports high-speed operation and can be easily integrated into automated manufacturing lines.

 

Industrial Production Index Slowdown

 

  • The global laser engraving market expansion is influenced by the rising usage of laser marking technology across various industrial sectors. Laser marking finds widespread adoption in manufacturing applications for traceability, quality control, and process optimisation purposes. Additionally, rising investments in laser marker research and development initiatives have enabled manufacturers to enhance and improve the functionality of laser marking equipment. These technological advancements allow for quicker laser marking speeds, multi-language marking capabilities, and precision marking on complex and delicate components.
  • The high initial investment required for laser engraving machines can present difficulties for small businesses and startups with limited budgets. These systems necessitate a notable upfront expenditure that varies according to the machine's configuration, such as the positioning and power of the laser unit, the dimensions of the marking area, and any ancillary capabilities. As such, the elevated initial cost may inhibit market expansion for these enterprises in the short term.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the global laser engraving machine market for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product types, end uses, and major regions of laser engraving machine.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the laser engraving machine market are Universal Laser Systems, Inc., Trotec Laser GmbH, LaserStar Technologies Corporation, Epilog Corporation, and Sintec Optronics Pte Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • End Use
  • Region
Breakup by Product Type
  • CO2 Laser
  • Fibre Laser
  • Diode Laser
  • YAG Laser
Breakup by End Use
  • Advertising Decoration
  • Printing and Packaging
  • Leather and Apparel
  • Model Making
  • Arts and Crafts
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Universal Laser Systems, Inc.
  • Trotec Laser GmbH
  • LaserStar Technologies Corporation
  • Epilog Corporation
  • Sintec Optronics Pte Ltd.
  • Others

 

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