The Rise In Adoption Of Laser Marking By End-User Industries Is A Key Growth Driver For The Laser Marking Machine Market

The Business Research Company's Laser Marking Machine Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, October 13, 2022 /EINPresswire.com/ -- The laser marking market consists of the sales of laser marker machines that utilize a concentrated beam of light to leave a permanent mark on a surface. A fiber, pulsed, continuous wave, green, or UV laser system is commonly used for laser marking, and it covers a wide range of applications. Laser marking employs no consumables and requires less maintenance than other non-permanent marking procedures like printing or labelling.

Reference to the Global Market Model, will evidence a rise in demand with the Laser Marking Machine Global Market anticipated to grow from $2.43 billion in 2021 to $2.60 billion in 2022, at a compound annual growth rate (CAGR) of 7%. The increasing adoption of laser marking across end-users due to its superior consistency, competitive advantage, precision, and timely engraving is significantly driving the growth of laser marking machines, with the market size projected to reach $3.42 billion in 2026, at a CAGR remaining around 7%, continuing its trajectory to $4.68 trillion by 2031 at a marginally reduced growth rate of around 6.5%.

Asia-Pacific was the largest region in the Laser Marking Machine market, accounting for around 38% of the global market in 2021, with Western Europe following closely behind with around 25% of the global market and North America with 24%. Asia-Pacific is also expected to show the fastest growth of any region, both in the period through 2026 and onwards to 2031. Africa was the smallest region in the laser marking machine market. By individual country, the USA had the largest share of the global market, accounting for around 21%, with China a close second at 19%. China is also forecast to show the most growth in the period 2021 to 2026 with a CAGR of 7.7%, with the USA and Japan following closely behind with anticipated CAGRs of 7.5%.

The main types of laser marking machine includes CO2 laser, and fiber laser which together account for around 63% of the market, with green laser, UV laser, and YAG laser accounting for the balance of the market. CO2 laser marking machines are the most extensively utilized laser type because of their excellent beam quality, with fiber laser marking machines being used because of their versatility, low maintenance, and near-zero consumable requirements. Green laser marking machines are used for intricate and cool markings on non-reactive materials, with UV laser machines being used to label small, sensitive components with less waste, such as circuit boards and silicon wafers. YAG laser machines are used for etching, marking, and engraving, as well as cutting and welding steel. The main applications for laser marking machines are in end-use industries including automotive, aerospace, machine tool, electronics and microelectronics, medical and packaging.

In terms of trends, product innovation is gaining momentum in the laser marking market, with the key players in the laser marking market focusing on new product developments to gain market share. A recent development is a fiber laser that can power two different processes or workstations in a sequential manner, which has the benefit of increasing productivity in cost-sensitive, high-volume welding applications, such as the welding of doors and aluminum body frames, particularly in automotive manufacturing. The second fiber has the additional potential benefit of serving as a redundant backup for the first, reducing service downtime.

Laser Marking Machine Global Market Report 2022 – By Offering (Hardware, Software, Services), By Type (CO2 Laser, Fiber Laser, Green Laser, UV Laser, YAG Laser, Others), By Application (Automotive, Aerospace, Machine Tool, Electronics And Microelectronics, Medical, Packaging, Military, Others) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides laser marking machine market overviews, analyzes and forecasts laser marking machine market size, share, laser marking machine market players, laser marking machine market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

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https://www.thebusinessresearchcompany.com/report/industrial-laser-system-global-market-report

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