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The laser engraving machine market size is estimated to grow by USD 502.8 million at a CAGR of 7.08% between 2023 and 2028. Engraving systems have gained significant traction across various industries due to their ability to offer personalized solutions with high precision and efficiency. The increasing demand for customization and personalization in markets such as consumer electronics, automotive, and jewelry, among others, has fueled the growth of this technology. Moreover, engraving systems enable increased production speed and efficiency, reducing human errors and enhancing overall productivity. These benefits make engraving systems an indispensable tool for businesses seeking to offer unique and customized products to their customers.
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The market is witnessing significant growth due to the increasing demand for customized information on various surfaces such as glass, stone, plastic, metals, wood, and others. These machines are widely used for engraving specific terms, safety measures, intellectual property, and branding on different materials. They find extensive applications in industrial sectors, particularly in machine tools for part labels, part numbers, batch numbers, bar code marking, and labelling. The market is driven by the need for inventory tracking, control, and part identification in industries for loss prevention and quality assurance. In the apparel industry, laser engraving machines are used for marking alphanumeric codes, bar codes, and logos on fabrics and textiles. The digital nature of laser engraving technology ensures precision and consistency in engraving, making it a preferred choice over traditional methods. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing applications of engraving systems in multiple industries is notably driving market growth. The global laser engraving machine market is experiencing significant growth due to the increasing demand for high-quality, authentic end-products in various industries. This trend is particularly noticeable in the woodworking sector, where laser processing is becoming increasingly popular for creating intricate designs and patterns. In addition, the laser processing market is expanding rapidly in the metal industry, where laser engraving systems are used to mark items permanently for identification and differentiation purposes. This is especially important in sectors such as security and manufacturing, where the production of fake or replica products is a concern. As companies strive to meet the desired standards for quality and differentiate their products, the demand for laser engraving machines will continue growing in the forecast period. Thus, such factors are driving the growth of the market during the forecast period.
The growing application of laser technology and engraving in apparel industry is the key trend in the market. Laser technology has found extensive application in various industries, including woodworking, where it is utilized for creating high-quality, authentic end-products. In the laser processing market, laser technology offers several advantages over traditional methods. For instance, in woodworking, laser engraving ensures precise and clean markings, reducing the likelihood of damage to the material. Moreover, the use of laser technology results in minimal consumable requirements and negligible toxic byproduct disposal issues. Laser engraving is not limited to woodworking alone; it is also employed in the apparel industry for manufacturing applications beyond cutting, such as engraving, embossing, and denim fading. The benefits of laser technology in the apparel industry include the production of very precise and permanent engravings, which are essential for branding and customization. The high-production rate of laser engraving machines makes them an attractive option for businesses seeking efficiency and consistency in their manufacturing processes. Thus, such trends will shape the growth of the market during the forecast period.
Expensive engraving systems limit mass-segment consumers' adoption is the major challenge that affects the growth of the market. The market for woodworking and metal engraving has witnessed significant growth due to the demand for high quality, authentic end-products. Laser engraving machines offer numerous benefits, including precision, versatility, and the ability to create intricate designs. However, the high price tag of these systems can be a deterrent for some customers, particularly those in the mass market. As a result, mechanical laser engraving machines have gained popularity due to their lower cost. Nevertheless, the superior benefits of laser engraving systems, such as faster production time and the ability to process various materials, make them a worthwhile investment for businesses seeking to produce top-tier products. The price range of laser engraving machines varies depending on factors such as durability, software capabilities, and design file compatibility. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Epilog Corp. - The company offers laser engraving machine through Fusion maker brand.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The fiber laser machines segment is estimated to witness significant growth during the market forecast period. Fiber laser engraving machines utilize optical fibers as the active medium to transmit laser light from the source to the target surface. The laser beam is produced and contained within the fiber's core, which is coated with ions such as praseodymium, neodymium, erbium, dysprosium, thulium, holmium, and ytterbium, and is stimulated by a diode laser.
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The fiber laser machines segment accounted for USD 522.7 million in 2018. The minute laser spot generates precise customized information, including alphanumeric codes, part labels, part numbers, batch numbers, branding, bar code marking, and labelling, on various surfaces such as glass, stone, plastic, metals, wood, and packaging materials. Industrial sectors, including machine tools, inventory tracking, control, and part identification, employ fiber laser machines for loss prevention and part marking in industries like apparel shops, digital retail signage, fabric shops, gadgets, sports equipment, and metal working. Additionally, fiber lasers are utilized for micro material engraving on semiconductors, electronic chips, motherboards, and branding on industrial components and model making. Safety measures are implemented to ensure intellectual property protection and prevent unauthorized access to the laser system.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market caters to various industries by providing customized information on surfaces of Glass, Stone, Plastic, Metals, Wood, and other materials. This technology is widely used for engraving specific terms such as alphanumeric codes, part labels, part numbers, and batch numbers on industrial products. Safety measures are prioritized in this process to ensure intellectual property protection and prevent potential hazards.
Also, industrial sectors like machine tools, semiconductors, and electronics heavily rely on laser engraving for branding, bar code marking, and labelling. Diode engraving lasers are commonly used for micro material engraving on components like motherboards and electronic chips. Inventory tracking, control, and part identification are essential functions facilitated by this technology in industries, contributing to loss prevention and efficient production. Moreover, laser engraving finds applications in various commercial sectors such as apparel shops, digital retail signage, fabric shops, gadgets, sports equipment, and metal working. Model making also benefits from this technology for creating intricate designs and patterns. Overall, laser engraving machines offer a versatile solution for marking and branding various materials, ensuring accuracy and consistency.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Portable Engraving System Market - Portable Engraving System Market by Product and Geography - Forecast and Analysis
Laser Marking Equipment Market - Laser Marking Equipment Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, Germany, UK - Size and Forecast
Industrial Laser Market - Industrial Laser Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, Germany, UK - Size and Forecast
The market is witnessing significant growth due to the increasing demand for customized information on various surfaces. This technology is extensively used for engraving glass, stone, plastic, metals, wood, and other materials for specific terms such as part labels, part numbers, batch numbers, bar code marking, and branding. Safety measures are a crucial aspect of laser engraving machines, ensuring the protection of intellectual property and preventing loss. Industrial sectors like machine tools, semiconductors, and electronics heavily rely on this technology for part identification, inventory tracking, and control. Laser engraving machines are used in various industries, including apparel shops, digital retail signage, fabric shops, gadgets, sports equipment, and metal working. The technology's ability to engrave micro materials, such as diode engraving lasers and micro material engraving, is driving its application in industries like semiconductors and electronics.
Moreover, the use of laser engraving machines extends beyond industrial applications. They are also used for model making, brand name and logo marking, and engraving on motherboards and electronic chips. The market is expected to continue its growth trajectory due to the increasing demand for customization and precision in various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
130 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
Market growth 2024-2028 |
USD 502.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.48 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
China, US, India, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACSYS Lasertechnik GmbH, Coherent Inc., Epilog Corp., eurolaser GmbH, GCC, Gravotech Marking SAS, Hans Laser Technology Industry Group Co. Ltd., IPG Photonics Corp., Kern Laser Systems, Laserstar Technologies Corp., Mecco, Panasonic Holdings Corp., RMI Laser LLC, Sintec Optronics Pte Ltd., Telesis Technologies Inc., TroGroup GmbH, TYKMA Electrox Inc., Universal Laser Systems Inc., Videojet Technologies, Vytek Laser Systems, and Wisely Laser Machinery Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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