Laser Marking Equipment Market to Grow by USD 1.43 Billion from 2024-2028, AI-Driven Automation Set to Boost Revenue - Report by Technavio
NEW YORK, Oct. 7, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global laser marking equipment market size is estimated to grow by USD 1.43 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.86% during the forecast period. Increasing in automation in laser marking equipment is driving market growth, with a trend towards product marking for better traceability. However, lack of skilled operators for laser marking equipment poses a challenge. Key market players include Alpha Laser US Inc., AMADA Co. Ltd., EMAG GmbH and Co. KG, Emerson Electric Co., Epilog Corp., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Jinan Xintian Technology Co. Ltd., Laser Marking Technologies LLC, Laserline GmbH, Laserstar Technologies Corp., Morn Laser, Perfect Laser Co. Ltd., Precitec GmbH and Co. KG, Shenzhen HeroLaser Equipment Co. Ltd., Trotec Laser GmbH, TRUMPF SE Co. KG, and Videojet Technologies.
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Forecast period | 2024-2028 |
Base Year | 2023 |
Historic Data | 2017 - 2021 |
Segment Covered | Product (Fiber laser machines, Co2 laser marking equipment, and Others), Application (Machine tool, Electronics and microelectronics, Automotive, Medical, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) |
Region Covered | APAC, North America, Europe, Middle East and Africa, and South America |
Key companies profiled | Alpha Laser US Inc., AMADA Co. Ltd., EMAG GmbH and Co. KG, Emerson Electric Co., Epilog Corp., FANUC Corp., II VI Inc., IPG Photonics Corp., Jenoptik AG, Jinan Xintian Technology Co. Ltd., Laser Marking Technologies LLC, Laserline GmbH, Laserstar Technologies Corp., Morn Laser, Perfect Laser Co. Ltd., Precitec GmbH and Co. KG, Shenzhen HeroLaser Equipment Co. Ltd., Trotec Laser GmbH, TRUMPF SE Co. KG, and Videojet Technologies |
Key Market Trends Fueling Growth
The laser marking equipment market encompasses various product marking methods, including engraving, bonding, etching, and carbon migration in welding. These techniques are essential for product tracing and identifying raw materials. Government regulations, such as the US Food and Drug Administration's mandate for laser marking on medical equipment, and the Department of Defense's implementation of item unique identification (IUID), drive market growth. Fiber lasers, used for annealing, metal engraving, and high-contrast plastic markings, offer advantages like high-speed marking and superior marking quality. Laser marking equipment can mark various materials, including wood, glass, rubber, plastics, and product packaging, with date codes, serial numbers, and other product identification. Fiber lasers are expected to replace traditional marking technologies due to their efficiency and quality. Thus, the need for better product traceability is anticipated to fuel the expansion of the global laser marking equipment market.
Laser marking equipment is a trending solution for creating durable, forgery-proof markings on various materials, including plastic and metal, in industries like auto parts and components. This technology offers easy-to-read data through alphanumeric inscriptions, providing maximum precision, speed, and high contrast. It's ideal for mass production, ensuring protection against forgery and component malfunctions. Laser technology, including engraving, etching, and annealing, is used in industries such as medical devices and product branding. Industry standards require laser marking for traceability and identification solutions. The non-contact nature of laser marking minimizes material damage. Co2 Laser is a popular choice due to its compatibility with various materials and automation capabilities. However, initial investment and implementation costs, training, and expertise are essential considerations. Exposure to high temperatures, fluids like oil and gas, thermal stress, and chemicals like acids can impact the equipment's performance and lifespan. Ensure choosing the right laser marking equipment based on materials compatibility and your specific industry needs.
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Market Challenges
CNC-based laser marking machines are widely utilized in the industrial sector for marking metal plates with high precision. These machines incorporate a computer or microprocessor-control system, converting digital data into motion control for cutting metal plates. Operators are essential for marking operations, as they load part files, align the bed, and set up accurate parameters. The complex CNC system, with hundreds of buttons, necessitates a skilled operator to ensure accurate marking and processing, preventing inferior products and resource wastage. However, the market faces a significant challenge due to the shortage of qualified and experienced operators capable of managing CNC laser marking machines during the forecast period.
The Laser Marking Equipment Market is experiencing significant growth due to the expanding usage in various industries such as healthcare, pharmaceuticals, machine tools, and packaging sectors. Challenges in product quality validation have led companies to adopt laser marking for batch numbers and identification. Fiber and CO2 lasers are popular choices for marking flat planar fields, inclined planes, cylindrical surfaces, and complex-shaped characters. Integration of robotics, sensors, and barcode readers in laser marking machines is driving factory automation and smart factories. Traditional laser markers are being replaced by integrated machines offering improved functionality, operational excellence, and ecological integrity. Small businesses and startups with limited budgets face upfront expense and power needs as challenges. The automobile sector remains the largest end user, with versatile technology enabling process improvement and identification on moving and rotating objects. Macroeconomic factors, virus containment, and additional functionalities are also influencing market trends. Power needs, laser placement, and additional functionalities are key considerations for buyers.
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Segment Overview
This laser marking equipment market report extensively covers market segmentation by
Product
1.1 Fiber laser machines
1.2 Co2 laser marking equipment
1.3 Others
Application
2.1 Machine tool
2.2 Electronics and microelectronics
2.3 Automotive
2.4 Medical
2.5 Others
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1 Fiber laser machines- The Laser Marking Equipment market is experiencing significant growth due to increasing demand for customized products in various industries. Businesses seek efficient and accurate marking solutions, making laser marking technology a preferred choice. Its ability to mark various materials, including metals, plastics, and glass, without causing damage, adds to its appeal. Market players focus on innovation to expand applications, improve productivity, and reduce costs. This trend is expected to continue, driving market growth in the coming years.
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Research Analysis
The Laser Marking Equipment Market is experiencing significant growth due to the increasing automation processes in various industrial verticals, including the medical sector and defense industry. Laser marking machines, which use UV lasers, have become essential tools for identification, quality control, and process improvement in production lines. These machines are increasingly being used for marking medical devices, polypropylene tubes, and sensors, among other components. The non-contact nature of laser marking ensures minimal material damage and allows for precise, high-quality markings. Integrated machines offer additional features such as etching, annealing, and barcode readers, making them valuable additions to production lines. Industry standards continue to evolve, driving the demand for advanced laser marking technology. Consumables, such as lasing glasses and marking materials, are also an important consideration in the market. Traditional laser markers are being replaced by more advanced, automated systems to improve efficiency and reduce costs. The flat planar field of laser marking enables product branding and ensures consistent, high-quality markings. Material damage is a concern, but advancements in technology are minimizing this issue.
Market Research Overview
The Laser Marking Equipment Market is witnessing significant growth due to the increasing automation processes in various industrial verticals, including the medical sector and defense. Laser marking machines, such as UV laser, Galvo laser marking, and Fiber laser systems, are increasingly being adopted for traceability, inventory control, production flow control, and product quality validation. The technology is expanding its usage in the surgical and medical sectors for marking complex-shaped characters on plastic, metal, and other materials. The versatility of laser marking technology makes it suitable for marking on inclined planes, cylindrical surfaces, and rotating or moving objects. Small businesses and startups with limited budgets are also turning to laser marking equipment due to its improved functionality and operational excellence. Macroeconomic factors, such as virus containment and the largest end user, the automobile sector, are driving the market's growth. The technology offers forgery-proof, durable markings that can withstand high temperatures, fluids, and other harsh conditions, making it ideal for mass production in industries like automotive and electronics. Additional functionalities, such as programmed robotics and sensors, are also contributing to the market's expansion. However, factors like laser placement, power needs, and upfront expense are challenges that need to be addressed to make laser marking equipment accessible to a wider audience.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Application
Geography
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio