Laser Marking System Market Forecasts to 2030 - Global Analysis By Type, Product Type, Machine Type, Material, Application, End User and By Geography

According to Stratistics MRC, the Global Laser Marking System Market is accounted for $3.1 billion in 2023 and is expected to reach $5.8 billion by 2030 growing at a CAGR of 9.2% during the forecast period. A laser marking system is a technology that utilizes laser beams to create permanent marks or engravings on various materials. The laser beam emitted by the system interacts with the material, causing localized heating or ablation, which results in visible marks. Laser marking offers several advantages, including high precision, speed, and the ability to mark on a variety of materials, including metals, plastics, and ceramics.

According to the Society of Indian Automobile Manufacturers (SIAM), India exported more than 5,617,000 units of automobiles in 2021.

Market Dynamics:

Driver:

Rising demand for laser marking in medical devices

The rising demand for laser marking in medical devices serves as a significant driver for the laser marking system market. The medical device industry is increasingly adopting laser marking technology to meet stringent regulatory requirements and enhance product traceability. Laser marking ensures the clear and permanent identification of medical devices, including surgical instruments, implants, and diagnostic equipment. Additionally, laser marking provides a reliable solution for marking crucial information like serial numbers, lot codes, and manufacturing dates directly onto medical devices.

Restraint:

High initial investment

The high initial investment stands as a prominent restraint in the market. Acquiring laser marking systems involves a substantial upfront cost encompassing the purchase of laser machines, associated hardware, and software. Additionally, the sophisticated technology and precision capabilities of laser marking systems contribute to their elevated cost. As these systems are often considered capital-intensive investments, organizations may encounter difficulties in allocating resources for their implementation, hindering widespread adoption.

Opportunity:

Technological advancements

Continuous innovation and development in laser technology have led to significant improvements in the performance, efficiency, and affordability of laser marking systems. Fiber lasers offer several advantages over traditional laser technologies, such as solid-state and CO2 lasers. They provide higher beam quality, increased power efficiency, and enhanced reliability. Fiber lasers are also compact and require minimal maintenance, making them suitable for a wide range of applications. These developments have increased the number of possible uses for laser marking systems and increased their affordability for small and medium-sized enterprises. Therefore, continuous innovation and developments in laser marking systems drive market demand.

Threat:

Substitutes and alternatives

Substitutes and alternatives can be a major threat to the adoption and expansion of laser marking systems on the market. These alternatives can disrupt the market by attracting customers away from laser marking systems. Alternative marking technologies such as inkjet, dot peen, or chemical etching methods can offer viable alternatives to laser marking. Inkjet systems use ink droplets to create markings, while dot-peen systems use a mechanical process to create indentations. These alternatives may have advantages such as lower equipment costs, simpler maintenance requirements, or the ability to mark on different types of materials. Therefore, the availability of substitutes and alternatives is a significant barrier hindering market expansion.

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on various industries worldwide, including the laser marking system market. The outbreak has caused disruptions to supply chains, manufacturing activities, and the demand for laser marking systems overall. During the initial stages of the pandemic, many industries experienced a slowdown or temporary shutdown of operations, leading to reduced investments in capital equipment like laser marking systems. Companies focused on managing immediate challenges such as workforce safety, cash flow, and supply chain disruptions, resulting in delayed or postponed purchasing decisions.

The Co2 laser segment is expected to be the largest during the forecast period

The Co2 laser segment is estimated to hold the largest share. These lasers operate based on a gas mixture primarily composed of carbon dioxide. When electrically stimulated, the gas emits a laser beam with a wavelength of 10.6 micrometers, making it ideal for marking various materials, including plastics, wood, glass, and certain metals. CO2 lasers are known for their accuracy and capacity to leave excellent, long-lasting marks on surfaces. Moreover, the non-contact nature of CO2 laser marking ensures that the target material remains undamaged during the process. This makes CO2 lasers a preferred choice for applications where intricate designs, alphanumeric codes, and barcodes need to be accurately etched onto surfaces.

The portable segment is expected to have the highest CAGR during the forecast period

The portable segment is anticipated to have lucrative growth during the forecast period. Portable laser marking systems are compact, lightweight, and mobile devices used for marking and engraving various materials. These systems offer the advantage of flexibility, allowing users to bring the marking technology directly to the work piece rather than moving the work piece to a fixed laser marking station. The portable nature of these systems enables on-site marking, eliminating the need for transporting heavy or bulky items to a dedicated marking area. Overall, portable laser marking systems offer flexibility, convenience, and efficiency in the marking process, making them a valuable tool in the laser marking system market.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period. China and India are the major contributors to the growth of the regional market owing to the increased adoption of laser marking machines in manufacturing factories in the region. The adoption of improved manufacturing techniques by the Chinese machine tool industry and the region's market's growth. Moreover, its continued dominance can also be attributed to the increased foreign investments and relocation of manufacturing facilities by numerous companies to countries such as India and China.

Region with highest CAGR:

Europe is expected to witness profitable growth over the projection period. Europe is home to a diverse range of industries, including automotive, aerospace, electronics, medical devices, and packaging. These industries have a high demand for laser marking systems to achieve precise and permanent markings on their products. Europe has stringent regulatory standards for product labeling, traceability, and safety. In order to meet these standards, laser marking systems are essential because they offer precise information in permanent, high-quality markings. The need to comply with regulatory requirements drives the adoption of laser marking systems in various industries across Europe.

Key players in the market:

Some of the key players in the Laser Marking System Market include Novanta Inc., Huagong Tech Co., Ltd., Epilog Laser, LLC, Han's Laser Technology Industry Group Co.,Ltd, Sea Force Co., Ltd., Danaher Corporation, Laser Star Technologies Corporation, Gravotech Marking SAS, Coherent Inc., Trumpf GmbH + Co. KG, Telesis Technologies, Inc., Videojet Technologies, Inc. and Trotec Laser GmbH.

Key Developments:

In May 2022, Gravotech has launched its Class 1 fully secure LW2 laser station, which will meet all permanent marking and identification needs with advanced and enhanced user experience and is available in different versions based on application and needs.

In April 2022, TRUMPF unveiled the next generation and new lines of its TruMicro ultrashort pulse lasers (USP). The two TruMicro 6000 and TruMicro 2000 product families feature new technology platforms to boost power and enhance versatility applicable for electronic manufacturing, offering high-range performance.

Types Covered:

• Green Laser
• Co2 Laser
• Fibre Laser
• Uv Laser
• Diode-pumped Lasers
• Mopa Laser
• Nd:yag Lasers
• Other Types

Product Types Covered:

• Fixed
• Portable

Machine Types Covered:

• 3D
• 2D

Materials Covered:

• Glass
• Ceramics
• Metal
• Plastic
• Other Materials

Applications Covered:

• Annealing
• Ablation
• Foaming
• Carbonizing
• Engraving

End Users Covered:

• Electronics & Semiconductor
• Automotive
• Defence & Aerospace
• Healthcare
• Packaging & Labelling
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances