Laser Marking Machine Market to reach $8 Bn by 2032, Says Global Market Insights Inc.
Major laser marking machine market participants include Coherent Inc., Danaher Corporation, Epilog Laser, LLC, Gravotech Marking SAS, Han's Laser Technology Industry Group Co., Ltd., Huagong Tech Co., Ltd., IPG Photonics Corporation, Keyence Corporation, LaserStar Technologies Corporation, MECCO, LLC, Novanta Inc., Sea Force Co., Ltd.
Selbyville, Delaware, Aug. 14, 2023 (GLOBE NEWSWIRE) --
The laser marking machine market is projected to be worth USD 8 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing importance of product traceability and identification will boost the market growth. The growing emphasis on quality control, regulatory compliance, and crime prevention has compelled several businesses to progressively track and monitor their products across the supply chain. To that end, laser marking machines are largely deployed for producing identical high-quality marks for unambiguous identification, barcodes, and other critical information. Furthermore, the rising consumer preferences for personalized products and distinctive branding as well as the increasing demand for customized marking solutions will present new market development possibilities.
The laser marking machine market from the engraving segment was accounted USD 1 billion in 2022. The growth can be attributed to the rising adoption of laser marking machines in engraving as they offer several advantages over traditional engraving methods. Laser engraving is a non-contact procedure, which eliminates the need for physical tools, while reducing the risk of damages to the material being marked. These machines also provide high precision, offering intricate designs, small text, and fine details.
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The laser marking machine market from the metal segment is poised to witness more than 9% CAGR from 2023 to 2032. In recent years, metal laser marking machines are witnessing widespread usage as they are specifically designed to operate with a broad range of metals, including stainless steel, aluminum, titanium, brass, copper, and other alloys. Hence, the increasing focus by producers on branding and engraving metal components that are utilized in a variety of sectors will add to the product uptake.
North America laser marking machine market is set to amass more than USD 2 billion by 2032. The presence of robust manufacturing base and favorable regulatory environment along with the rising demand for customization have made way for technical developments and increased emphasis on product safety and compliance. Furthermore, the surge in potential growth opportunities for producers and suppliers to cater to the changing demands of the local economy to provide cutting-edge laser marking solutions will enhance the regional industry outlook.
Some of the leading companies operating in the laser marking machine market are Videojet Technologies, Inc., Gravotech Marking SAS, Danaher Corporation, Huagong Tech Co., Ltd., Novanta Inc., Epilog Laser, LLC, Sea Force Co., Ltd., IPG Photonics Corporation, Trotec Laser GmbH, Telesis Technologies, Inc., The 600 Group PLC, MECCO, LLC, Keyence Corporation, Trumpf GmbH + Co. KG. and Han's Laser Technology Industry Group Co., Ltd.
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Laser Marking Machine Market News
In June 2023, Coherent Corp., a pioneer in innovative laser processing technologies, introduced its next-generation ultralow-cost Matrix nanosecond pulsing UV lasers for applications in consumer products, home appliances, industrial electronics, and packaging
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary2.1 Laser marking machine market 360º synopsis, 2018 - 20322.2 Business trends2.2.1 Total Addressable Market (TAM), 2023-20322.3 Regional trends2.4 Type trends2.5 Machine type trends2.6 Product type trends2.7 Application trends2.8 End use trendsChapter 3 Laser Marking Machine Market Industry Insights3.1 Impact on COVID-193.2 Russia- Ukraine war impact3.3 Industry ecosystem analysis3.4 Vendor matrix3.5 Profit margin analysis3.6 Technology & innovation landscape3.7 Patent analysis3.8 Key news and initiatives3.8.1 Partnership/collaboration3.8.2 Merger/Acquisition3.8.3 Investment3.8.4 Product launch and innovation3.9 Regulatory landscape3.10 Impact forces3.10.1 Growth drivers220.127.116.11 Product safety and counterfeit prevention18.104.22.168 Increased demand for product customization22.214.171.124 Advancements in laser technology126.96.36.199 Growing adoption in emerging industries188.8.131.52 Growing demand for product traceability and identification3.10.2 Industry pitfalls & challenges184.108.40.206 High initial investment220.127.116.11 Regulatory and safety compliance requirements3.11 Growth potential analysis3.12 Porter’s analysis3.13 PESTEL analysisBrowse our Reports Store - GMIPulse @ https://www.gminsights.com/gmipulse
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.Request for a sample of this research report @ Make an inquiry for purchasing this report @Laser Marking Machine Market NewsPartial chapters of report table of contents (TOC):Chapter 2 Executive SummaryChapter 3 Laser Marking Machine Market Industry InsightsBrowse our Reports Store - GMIPulse @Browse Related Reports: Laser Welding Machine MarketIndustrial Machinery MarketAbout Global Market Insights Inc.