Laser Engraving Machines Market Using Laser Technology for Quality Inspection in Various Verticals has a Potential to Reach USD 6.6 Billion by 2029

2022-11-29 05:27:28

The laser engraving machine applies the laser beam to the surface of the material to complete the processing, which is called laser processing. It is a technique for laser irradiation, laser cutting, surface modification, laser engraving, laser drilling and micromachining

China, November 29, 2022 HTPOW by Exactitude Consultancy has completed and published the final copy of the detailed research report on Laser Engraving Machine Market.

The laser engraving machines market is projected to grow at a CAGR of 4.61% from 2022 to 2029. By 2029, it is expected to exceed $3.6 billion.

Laser engravers are used to engrave or create permanent marks on a variety of surface types. Many industries are promoting the use of laser marking machines because they are faster and more reliable than other marking technologies such as dot peen marking machines.

Here are some of the ways that various industries primarily use laser engravers: CO2 lasers are used to engrave alphanumeric codes such as part labels, part numbers, lot numbers, and brands. Barcode labeling and marking is done using Nd:YAG lasers. Micromaterial engraving of semiconductors, electronic chips, motherboards, etc. is done with the help of diode engraving lasers. In addition, laser engravers allow for permanent product customization. One of the product identification and security solutions for industrial sectors such as machine tools and automotive includes its brand name, logo, batch number, etc.

Recent Development

In May 2022, a class 1 fully safe laser engraver, Ortur laser engraving machine of Ortur Laser Master 3 is launched. Due to its 100% industrial construction and simple, compact design, this laser engraver is the most efficient and safest choice available. Thanks to its touch screen, it couldn't be easier to control marking and use these functions without a computer.

May 2022 Sintech Optronics' 1940nm series of CW and QCW fiber lasers generate up to 100 W of CW power and up to 625 W of QCW pulsed power from a small air-cooled 48 V DC driver module. For the most demanding applications, these very reliable and energy efficient lasers deliver up to 7J of energy at a wavelength of 1940 nm.

Laser Engraving Machine Market Players

These key players include Han's Laser Technology Industry Group Co., Ltd., xTool, Videojet Technologies Inc., Atomstack, TYKMA Electrox Inc., MECCO, LaserPecker, Gravotech Marking, Sea Force Co.Ltd. and others.

Key Market Segments: Laser Engraving Machine Market

Laser Engraving Machine Market by Type 2022-2029

  1. Carbon dioxide laser
  2. Fiber-optic laser
  3. Green laser
  4. UV laser
  5. YAG laser

Laser Engraving Machine Market by Application 2022-2029

  • Car
  • Aerospace
  • Machine tool
  • Electronics and Microelectronics
  • medical
  • Bale
  • Army

The Asia Pacific Region Holds The Largest CAGR During The Forecast Period.

Asia Pacific accounted for the largest market share of over 40% in 2020 and is expected to continue dominating the market throughout the expected period. China and India contributed the most to the growth of the laser engraving machine market in the region owing to the increasing use of laser marking equipment in the manufacturing industry in the region. The adoption of modern production technologies in China's machine tool industry and the developing aerospace and military industries in the region are driving the expansion of the laser engraving machine market. Other factors contributing to its continued dominance include rising foreign investments and shifting of many companies' production facilities to countries such as China and India. E.g,

Growing Demand for Unique Device Identification and Deep Engraving

Growing need for unique device identification and deep engraving during the manufacturing process for the purposes of traceability, internal control, production process management, and product quality verification is expected to drive the laser engraving machine market demand. These marks, especially those created with fiber laser equipment, finish in less time and will not fade even after repeated exposure to heat and harsh chemicals. Hence, rising demand for these machines in the defense and electronics industries is expected to support market expansion throughout the forecast period.

Increasingly Stringent Government Regulations and Guidelines

Increasing stringent government rules and recommendations to mark surgical and medical devices to enhance their traceability are also expected to drive the global laser engraving machine market demand. On the other hand, there has been a significant increase in the demand for leather goods that can be customized with initials or names such as leather jewellery, wallets, and handbags. Hence, the demand from these industries is expected to drive the development of engraving technologies such as laser marking systems throughout the forecast period. However, the high cost of laser engraving equipment hinders their usage in small and medium enterprises, which may hamper the expansion of the market.

Key Market Insights in The Report:

Depending on the product, the fiber laser engraving machine industry is expected to grow at the largest CAGR throughout the forecast period due to its features, including longer lifespan, higher precision, and suitability for engraving on hard surfaces such as metals .
Regionally, Asia Pacific accounted for the majority of the market share and is expected to grow throughout the forecast period. This is thanks to the region's thriving aerospace and defense industry, as well as the advanced production techniques adopted by China's machine tool industry.

Key Features of Laser Engraving Machine Market Report:

Save and reduce time in conducting entry-level research by identifying the growth, size, leading players, and segments of the global Laser Engraving Machine market.
Highlight key business priorities to help laser engraving machine companies realign their business strategies.
Key findings and recommendations highlight key progressive industry trends in the global Laser Engraving Machine market, thereby enabling players along the value chain to formulate effective long-term strategies.
To formulate/revise business expansion plans by capitalizing on the substantial growth of the developed and emerging Laser Engraving Machine markets.
In-depth study of global market trends and outlook, along with factors driving and hindering the Laser Engraving Machine market.
Enhance the decision-making process by understanding strategies that support the client's commercial interests in product, segmentation, pricing, and distribution.