January 11, 2021 11:05 EST | Source: PMI
Covina, California, January 11, 2021 (Global News Agency)-Laser marking systems are ideal for marking logos, barcodes and matrix codes on almost all types of materials. In the automotive industry, markings are widely used to engrave serial numbers on tires without changing the tire structure.
In 2019, the global laser engraving machine market was worth 2.6 billion U.S. dollars and is expected to reach 5.3 billion U.S. dollars by 2029, with an estimated compound annual growth rate of 7.5%.
Report "Global laser engraving machine market, by-products (CO2 laser engraving machine, fiber laser engraving machine, diode laser engraving machine and Nd:YAG laser engraving machine), end users (advertising decoration, printing and packaging, leather and clothing), model making , Arts and crafts, etc.) and by region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)-trends, analysis and forecasts up to 2029".
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The growing demand for unique device identification and deep engraving
In the manufacturing process, in order to achieve traceability, internal control, production process control, and product quality verification, the increasing demand for unique equipment identification and in-depth engraving is expected to drive market demand. These markings completed by these machines, especially fiber laser machines, will not fade even if they are continuously exposed to high temperatures and irritating chemicals, and it takes less time. Therefore, the growing demand for such machines in the electronics and defense industries is expected to further drive market growth during the forecast period.
Increasingly strict government regulations and guidelines
More and more stringent government regulations and guidelines mark surgical and medical devices to improve their traceability, and are also expected to drive global market demand. On the other hand, a high demand for personalized leather products has been observed, including leather jewelry, wallets and handbags, as well as customizations such as monogram initials and names. Therefore, the market demand of these industries is expected to promote the growth of engraving technologies such as laser marking systems during the forecast period. However, the high cost of laser engraving machines has reduced its adoption rate in small and medium-sized industries, which may hinder market growth.
Browse 60 market data tables* and 35 numbers* on the "Global Laser Engraving Machine Market", through 140 slides and in-depth TOC, by product classification (CO2 laser engraving machine, fiber laser engraving machine, diode laser engraving machine and Nd:YAG laser engraving machine), by end user (advertising decoration, printing and packaging, leather and clothing, model making, handicrafts, etc.) and by region (North America, Europe, Asia Pacific, Latin America and the Middle East and Africa)-2029 Trends, analysis and forecasts from the previous year
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The main market insights in the report:
In 2019, the global laser engraving machine market was worth 2.6 billion U.S. dollars and is expected to reach 5.3 billion U.S. dollars by 2029, with an estimated compound annual growth rate of 7.5%. The market report has been segmented according to product, end user, and region.
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Major players operating in the global laser engraving machine market include Han's Laser Technology Industry Group Co., Ltd., Telesis Technologies, Inc., Videojet Technologies, Inc., Trotec Laser GmbH, Epilog Laser, TYKMA Electrox, Inc., MECCO, LaserStar Technologies Corporation , Gravotech Marking and Sea Force Co., Ltd.
The market provides detailed information about the industrial base, productivity, advantages, manufacturers and recent trends, which will help the company expand its business and promote financial growth. In addition, the report also shows dynamic factors, including market segments, sub-segments, regional markets, competition, major players and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships, as well as regulatory frameworks in different regions that affect the trajectory of the market. The report includes the latest technological advances and innovations affecting the global market.
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