Laser Marking Market: Current Analysis and Forecast (2021-2027)

The Global Laser Marking Market is anticipated to grow with an elevated CAGR of around 7% over the forecast period (2021-2027). The increasing industrialization across the globe, along with increasing automation in the manufacturing sector are the key factors driving the growth of the laser marking market. Furthermore, laser marking machines are used widely across various industries such as automotive, electronics & semiconductors, medical, aerospace, machine tools, and packaging. Laser markings are more durable and convenient to read and scan, which is resulting in the increasing demand for marking machines. Moreover, the growing construction spending is also expected to drive the laser marking market globally. For instance, construction-related spending accounts for 13% of the world's GDP, and laser marking is used in construction for custom marking and engraving for the identification of products.

Insights Presented in the Report:

"Amongst type, fiber laser segment holds the major share"

Based on type, the market is segmented into fiber laser, diode laser, solid-state laser, CO2 laser, and others. The fiber laser is expected to grow significantly during the forecast period. The growing adoption of fiber lasers can be attributed to their applicability on a wide range of materials, fiber lasers are types of devices, which are optically pumped, most commonly with laser diodes but in a few cases with other fiber lasers. The optics used in these systems, are usually fiber components, with most, or all the components fiber-coupled to one another. The growing demand from the automobile industry and technological advancement concerning fiber lasers is expected for the fiber laser segment.

"Amongst offering, the hardware segment holds the major share"

Based on the offering, the market is segmented into hardware and software. The hardware segment is expected to grow with a significant CAGR during the forecast period. The growing demand for the hardware segment can be attributed to the high requirement for hardware in several types of laser marking systems leads to the growth of the global fiber laser market. Hardware components, such as laser, controller, filter, rotary device, galvanometer, and power supply, are the building blocks of laser marking and engraving machines and are elemental for their proper functioning. This is attributed to the market growth in this segment during the forecast period.

Amongst application, the machine tool segment holds the major share"

Based on application, the market is segmented into automotive, machine tool, electronics and microelectronics, medical, and others. The machine tool segment is expected to grow with an exponential CAGR during the forecast period. laser marking offers some decisive advantages over other methods, such as etching or embossing. Laser markings on metal tools boast long-term durability and enormous flexibility. A laser marking can be applied very precisely to the tool on different geometries, even with the smallest font sizes. These factors are expected to drive the application of laser marking on machine tools.

"Asia Pacific represents one of the largest markets of laser marking market"

For a better understanding of the market dynamics of the laser marking market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, and Rest of APAC), Rest of World has been conducted. In 2020, The Asia Pacific market is expected to hold a significant share of the laser marking market and is expected to witness exponential growth during the forecast period. This is mainly attributed to the presence of large players in the region who are investing heavily in the integration of the latest technology and the increase in demand for fiber lasers in the electronics and automotive industry. Furthermore, this region presents remarkable opportunities for venture capitalists and investors, because the developed markets are comparatively saturated. The growing adoption of laser marking can also be attributed to the growth that the automotive industry experienced in the last few years, for instance, Asia exported 635,000 units of motor vehicles exported manufacturers in 2018 and this number is expected to increase substantially in the future.

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Deep dive regional level analysis of the industry

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