Industry Insights
The global laser marking machine market size was estimated at USD 2.21 billion in 2016 and is expected to grow due to its increasing utilization worldwide. The absence of substitute technologies is expected to provide an impetus to the growth of the market over the next few years.
Global laser marking machine market revenue, by product type, 2014 - 2024 (USD Billion)
Availability of laser marking machines across various price ranges has also had a positive influence on the purchasing behavior of end users. Moreover, product development such as portable equipment is expected to open new avenues for growth over the projected period.
Profitable growth in machine tools industry, packaging industry and the automotive industry is anticipated to drive the market over the forecast period. Adaptation at a higher degree of laser marking equipment across various industries is expected to drive the market growth across the globe.
Safety measures during operating and manufacturing are expected to have an adverse effect on the growth of the industry. Moreover, high initial investment for installation of the equipment is expected to restrain the growth of the market further.
These markers are popular for carving on granite, marbles, ceramic, slate and other types of stones. These stones are used as paperweights, tombstones, novelty items, and decorative tiles for indoor and outdoor use. Growing utilization of the technology in these niche applications coupled with the increasing demand for these items is expected to augment the growth of the market over the projected period.
Segmentation by Product Type
• CO2 Laser
• Fiber Laser
• Green Laser
• UV Laser
• YAG Laser
CO2 lasers are used widely used in the electronics industry for marking printed circuit boards (PCB). Moreover, CO2 marking systems are available in various configurations depending upon applications and mark requirements. Various options such as vision corrected marking, and barcode scan program has made these systems popular. The segment was valued at USD 779.4 million in 2016.
Fiber laser marking machine market is expected to witness the fastest growth owing to its benefits such as high flexibility, easy integration in production lines, and application specific configuration. The fiber equipment is expected to dominate the market over the forecast period accounting for 47.9% of the share. Its broad range of application and relatively less price compared to other marking machines are expected to be key driving factors.
Segmentation by Application
• Automotive
• Aerospace
• Machine Tool
• Electronics & Microelectronics
• Medical
• Packaging
• Military
• Others
Machine tool was the largest application segment of the market in 2016 and is expected to grow at a relatively high rate, registering a CAGR of 7.2% from 2017 to 2024. The presence of regulations for engraving on manufactured products for labelling, identifying and security purposes is expected to drive the growth of the segment over the next few years.
Laser marking machine is a perfect tool for imprinting products commonly used in packaging industry such as cardboards, paper and polymers. It is a contact free operation and carried out without any mechanical stress. Consumer package made of metals and plastics are marked with identification marking for the recovery of packaging waste. The packaging segment is estimated to generate revenues worth USD 286.0 million by 2024.
Segmentation by region
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Central & South America
• Middle East & Africa
Asia Pacific dominated the global market accounting for 40.9% of the revenue share in 2016. The presence of a large manufacturing base in countries such as India, China, and Japan has resulted in the growth of the industry in the region over the past few years. Upcoming industries in economies such as Thailand, Indonesia, and Malaysia is expected to provide an impetus to the growth of the market.
In 2016, North America contributed 22.6% in the global market and is expected to witness above average growth owing to the increasing adaptation of permanent marks instead of barcode stickers. For instance, the U.S. government mandated the use of permanent 2D bar code imprint on all contractor manufactured products.
Competitive Landscape
The global market is concentrated with a few major players. Major players in this industry include Gravotech Marking, Epilog Laser, Videojet Technologies, Inc, Telesis Technologies, Inc., and Han’s Laser Technology Industry Group Company Ltd.
Companies are focusing on product innovation to expand its share in global market. For instance, In December 2016, Videojet launched Videojet 3340 Pharma Line to increase its product portfolio. Furthermore, in March 2016, Gravotech Marking launched a new large size cutting and engraving solution LS1000XP with customized applications. The system was designed with multiple functions to reduce production time and increase usability.
