October 5, 2021 09:48 ET | Source: Research and Market Research and Market
Dublin, October 5, 2021 (GLOBE NEWSWIRE)-"Global laser marking machine market size, sharing and trend analysis report, by type (carbon dioxide, fiber, green, UV, YAG), by application (automotive, aerospace) , Medical, packaging), forecast by region and market segment, the 2021-2028 report has been added to the products of ResearchAndMarkets.com. By 2028, the global laser marking machine market is expected to reach 5.03 billion U.S. dollars, with a compound annual growth rate of 8.0%
Industries such as machine tools and aerospace are increasingly adopting advanced marking technologies, as well as the growing demand for precision marking of manufactured products to improve product traceability. These are some of the factors driving market growth.
It is expected that from 2020 to 2027, the widespread application of machine tool and equipment marking, especially the market demand in the automotive, semiconductor and electronic industries, will drive market demand. And the healthcare industry. For example, the US Department of Defense has a MIL-STD-130 standard under which military property including weapons, artillery, and other equipment should be marked for tracking.
Similarly, in 2007, the U.S. Food and Drug Administration (FDA) passed Section 226 of the Food and Drug Administration Amendment Act (FDAAA) of 2007 to add the requirement for a unique device identification system to the Federal Food, Drug, and Cosmetic Act (FD&C Act) ). It is expected that such strict government regulations in various economies will stimulate the demand for laser marking machines and systems during the forecast period. Increasing attention to factory automation to increase productivity, save energy and reduce downtime is expected to drive overall market demand. In addition, emerging economies such as India are major markets that can witness mass production trends in the next few years.
With the help of automation technology and fast-launched assembly lines, mass production can be carried out, so there is a great demand for automated laser marking machines. For example, the country’s demand for smartphones has forced manufacturers to start producing or assembling smartphone components locally. On the other hand, safety and health issues related to the use of laser marking technology have restricted the market. The most prominent safety issues associated with these machines are burns and smoke. Operators working on CO2 laser engraving and marking machines often observe laser burns.
Therefore, preventive measures need to be taken to ensure safety and health, thereby increasing operating costs. Therefore, factors such as high initial investment, safety and health-related issues, and high operating costs involved in using laser marking machines may hinder market growth during the forecast period. Highlights of Laser Marking Machine Market Report
For more information about this report, please visit https://www.researchandmarkets.com/r/le18o8