A Future Market Insights (FMI) researcher projects that the value of the worldwide laser markings market will be US$ 8.3 billion by 2033, up from US$ 3.5 billion in 2023. Over the projection period from 2023 to 2033, the overall demand for laser marking is expected to grow at a 9.0% CAGR.
Over the course of the assessment period, there will be an absolute $4.8 billion opportunity due to the predicted strong growth of the global laser markings industry.
During the assessment period, fiber laser marking is anticipated to continue being the most sought-after kind. This can be attributed to the fiber laser marking’s many advantages, such as its great speed and accuracy.
As per the latest report, the fiber lasers segment is expected to thrive at a CAGR of around 8.8% CAGR through 2033 compared to the 11.0% CAGR registered during the historical period.
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Growing awareness about the benefits of laser marking over conventional marking methods and the high adoption of this technology across diverse sectors is expected to boost the target market.
Laser marking is a unique process for marking or engraving different materials using a focused laser beam. It is a non-contact and non-mechanical technology that allows users to create high-precision markings on various materials, including plastics, ceramics, glass, metals, etc.
Increasing adoption of laser markings across sectors such as manufacturing, medical devices, automotive, etc. is projected to fuel market expansion during the assessment period.
Similarly, the rising penetration of automation in the manufacturing sector across the globe is anticipated to uplift laser marking demand through 2033.
Technological advancements in laser sources, software, and scanning systems are leading to the development of more efficient and versatile laser marking solutions. This is expected to further boost growth in the worldwide laser markings industry.
Key Takeaways from the Laser Markings Market Report:
- The global laser markings industry is predicted to reach a valuation of US$ 3.5 billion by 2033.
- Based on type, fiber laser segment is forecast to exhibit a CAGR of 8.8% through 2033.
- By application, machine tool segment is set to progress at 8.7% CAGR from 2023 to 2033.
- The United States market is projected to exceed a valuation of US$ 1.5 billion by 2033.
- China laser markings industry is expected to cross a valuation of US$ 1.8 billion by 2033.
- Laser marking demand in South Korea is predicted to increase at 8.6% CAGR through 2033.
- The United Kingdom market is forecast to expand at 8.7% CAGR during the assessment period.
- Japan’s market size is predicted to reach US$ 1.6 billion by 2033.
“Integration of laser marking machines into automated production lines along with rapid penetration of smart manufacturing practices is anticipated to create growth opportunities for the global laser markings industry. To increase their sales and gain profits, key companies are focusing on developing compact and high-performance laser marking systems.” – says a lead analyst at Future Market Insights
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Competitive Landscape
Leading laser marking companies profiled in the report include 600 Group, Acsys Lasertechnik, Arihant Maxsell Technologies, Coherent, Danaher, Epilog Laser, Gravotech, Han’s Laser, IPG Photonics, and Jenoptik among others.
These key players are concentrating on developing more reliable and precise laser sources to improve the laser marking processes. They also use strategies such as mergers, agreements, partnerships, alliances, acquisitions, and facility expansions to expand their presence.
Restraints:
While the Laser Markings Market presents substantial growth opportunities, it is not without challenges. The market faces certain limitations and constraints, which include technological barriers, regulatory hurdles, and cost implications. Market players must navigate these obstacles effectively to realize the market’s full potential.
Recent developments:
- In June 2023, SLTL introduced its new IoT-enabled CNC Metal Laser Cutting and Marking Machine at the ACMEE expo.
- In January 2023, IPG Photonics Corporation launched three deep UV lasers for several applications including marking.
- In January 2023, JML Optical Industries, LLC was acquired by Thorlabs Inc.
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Scope of the Report:
Global Laser Markings Market Segmentation
By Type:
- Fiber Laser
- CO2
- Green
- Others
By Application:
- Machine Tool
- Electronics & Microelectronics
- Automotive
- Medical
- Aerospace
- Other
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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