Laser Engraving Machine Market: Overview
Laser engraving machine are used to engrave or render permanent marks on various surface forms. The use of laser marking machines is pushed through several industries and is highly suitable and reliable in terms of speed and reliability compared to other marking methods, such as dot peen marking machines. Industry 4.0 has also had an impact on the global demand for laser marking machines. The growing demand for precision, high speed and automation from a variety of industries, such as food and beverage, automotive and packaging, is the main driving force behind the growth of the industry.
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Laser Engraving Machine Market: Dynamics
The area is chosen to coordinate what the laser will follow up on. Materials that can be carved are natural materials, such as stone, iron, wood, plastic, glass ornaments, etc. Laser engraving machine is a significant tool for inventory control & tracking, part identification with loss prevention as Laser engraving machine carves are perfect easily trackable over the products.
The laser engraving market is about to establish new market growth for apparel shops, digital & retail signage, fabric shops, gadgets & sports equipment’s like trophy, medals, etc., metal works, wood carving antiques, jewelry markings are the major contributors to encourage this market growth of laser engraving machines.
Laser Engraving Machine Market: Segmentation
Globally, the Laser Engraving Machine Market is segmented into Material type, product type, and end use.
By Product Type, the global Laser Engraving Machine Market has been segmented as follows:
- CO2 Laser Engraving Machine
- Fiber Laser Engraving Machine
- Diode Laser Engraving Machine
- Nd:YAG Laser Engraving Machine
By End-Use Industries, the global Laser Engraving Machine Market has been segmented as follows:
- Advertising Decoration
- Printing & Packaging
- Leather & Apparel
- Model Making
- Arts & Crafts
Laser Engraving Machine Market: Regional Analysis
North America and Europe are expected to see substantial growth in the demand for laser engraving machines over the forecast period. In addition, the U.S. and Canada are the main countries that are growing demand for laser engraving machines in the North American region due to strict government regulations for medical engraving equipment, surgical equipment and others. The involvement of major main vendors, such as IPG Photonics Corporation, in the laser engraving machine is also expected to fuel the growth of the North American area laser engraving machine market by the end of 2026. Aside from this, Western European countries such as Germany, the U.K. Others are seeing an increase in demand for laser engraving machines due to the increasing automotive industry.
APAC is expected to account for the largest market share of laser marking during the forecast period. China, India, South Korea and Japan are the main contributors to the growth of the APAC industry. APAC was ahead in terms of the adoption of laser marking products and solutions relative to other areas. The region’s large population, rising R&D spending and growing manufacturing and electronics sectors are expected to drive market growth.
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Laser Engraving Machine Market: Key Players
- Universal Laser Systems, Inc.
- Gravotech Inc.
- Trotec Laser GmbH
- LaserStar Technologies Corporation
- Wisely Laser Machinery Limited
- Epilog Laser
- Sintec Optronics Pte Ltd.
- Kern Laser Systems
- Vytek Laser Systems
COVID-19 impact on Laser Engraving Machine Market
Actually, China produces about 20% of intermediate goods traded in the global supply chain, and Chinese products form a vital part of the global value chain of the laser engraving machinery industry. For this reason, the disruption caused by COVID-19 in China alone is expected to reverberate on the economy of many other countries around the world.
In the European Union, the laser engraving machinery industry is forecast to lose around US$ 1.2 billion from a 2% decline in China’s exports of intermediate inputs. The European chemical and automotive industry is also expected to have similar impacts which will affect the laser engraving machine market. There have been some important developments since late March. Most significantly, the decline in use seems to have leveled off, for the time being largely due to the re-tooling of laser engraving machinery and response of manufacturers to the demand for the required life-saving equipment. A relative decrease of 17 per cent, or 5 per cent, in utilization during the month of March, from 30 per cent to 25 per cent. It appears as if a stabilization has taken place since 28 March.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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