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According to the latest research by SkyQuest Technology, the Global Laser Engraving Machine Market was valued at US$ 3.5 billion in 2021, and it is expected to reach a market size of US$ 6.19 billion by 2028, at a CAGR of 8.5 % over the forecast period 2022–2028. The research provides up-to-date laser engraving machine market analysis of the current market landscape, latest trends, drivers, and overall market environment.
Materials are vaporised during the laser engraving process to produce deep, long-lasting marks. The laser beam acts like a chisel to leave marks on the surface by removing layers of the material’s surface. The procedure is referred to as laser engraving. During the projected period, the global laser engraving machine market will expand as a consequence of an increase in product releases by major industry players to fulfil the escalating demand. For instance, Universal Laser Systems, Inc. unveiled the ULTRA R5000, the newest device in the ULTRA series for laser material processing.
The COVID-19 pandemic has resulted in a huge rise in the demand for laser marking tools and services in the medical sector. Manufacturers of masks and several other covid treatment-related medical equipment have begun using laser marking machines to stamp their brand names and certifications in response to the unexpected growth in demand for these items. To return to levels close to those reached before COVID-19, approximately $5.8 billion, total laser income needs only slightly grow, by about 8%.
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As a consequence of the growing number of stringent government rules and suggestions for identifying surgical and medical equipment to increase their traceability, it is projected that global product demand would rise. A rise in the popularity of monogrammed initials and names has also been seen in the desire for leather products that may be customised, such as leather jewellery, purses, and handbags. Market demand from these sectors is predicted to drive the development of engraving technologies like laser marking systems throughout the course of the forecast period. The market growth is, however, expected to be constrained by small and medium-sized businesses’ inability to afford the expensive laser engraving equipment.
Read Market Research Report, ” Global Laser Engraving Machine Market by Type (Fiber Laser Engraving Machines, Co₂ Laser Engraving Machines, Diode Laser Engraving Machines, ND: YAG Laser Engraving Machines), Industry (Automotive, Aerospace, Packaging, Medical, Industrial & Machine, Tools, Others), and By Region— Forecast And Analysis 2022–2028” By Skyquest
The laser engraving machine market was dominated by the industrial and machine tools sector in 2021. This is attributed to automotive applications, such as under-bonnet parts, structural components, body panels, etc., areas where laser marking is used. Laser marking can combine mass production with fast customisation since it doesn’t require inks or pretreatment, can be securely incorporated into the assembly line, and can be used on items with a range of geometries under computer control. High levels of repeatability, speed, and throughput are the results of this. This market segment is anticipated to rule the global laser engraving machine market throughout the forecast period as a result of these benefits.
As they produce readily tracable markings on products, laser engraving machines have developed into a crucial tool in inventory management and control, part identification, and loss prevention. New applications in industries including clothing stores, digital & retail signs, fabric stores, gadget & sports equipment, metallurgy, model building, and woodworking are also helping the growth of the laser engraving machine market.
The aerospace segment is also anticipated to have considerable share in the global laser engraving machine market. This is due to the labelling of various aeronautical components using lasers. This comprises a wide range of small and large parts, such motor units or electrical circuit boards. the process of leaving circular markings on things like screw heads. These heads typically come in a variety of sizes and diameters to allow for the smooth transition of laser markings.
The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players 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 among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Laser Engraving Machine Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
What does this Report Deliver?
SkyQuest has segmented the Global Laser Engraving Machine Market based on Type, Industry, and Region:
Key Players in the Global Laser Engraving Machine Market
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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