Laser Engraving Machine Market by Type and Geography - Forecast and Analysis 2022-2026

The Laser Engraving Machine Market is projected to grow by USD 511.91 million with a CAGR of 7.18% during the forecast period 2021 to 2026.

This laser engraving machine market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the laser engraving machine market segmentation by type (fiber laser machines, gas laser machines, and others) and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The laser engraving machine market report also offers information on several market vendors, including ACSYS Lasertechnik GmbH, Coherent Inc., eurolaser GmbH, Epilog Corp., 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., Vytek Laser Systems, Wisely Laser Machinery Ltd., and Videojet Technologies Inc among others.

What will the Laser Engraving Machine Market Size be During the Forecast Period?

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Laser Engraving Machine Market: Key Drivers, Trends, and Challenges

The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the laser engraving machine market.

Key Laser Engraving Machine Market Driver

The increasing applications of laser engraving in multiple industries are one of the key factors driving the global laser engraving machine market growth. Companies are shifting to automation to meet the desired high standards for quality, which is one of the results of globalization and population growth, which is a major factor for growth in the global laser engraving machine market during the forecast period. Apart from small businesses, laser engraving systems have witnessed a rapid rise in application in many industrial segments. Identification security is one of the largest segments where laser engraving machines are ideally used for credit cards, identity cards, sensitive documents, and other items requiring safety measures. Moreover, at present, laser engraving systems have become an essential tool in the identification of parts, as well as the control and tracking of inventory, notifications for safety and warning, and prevention of losses. Laser engraving systems are also used in various industries and establishments. In the future, these engraving systems might be used as an additional security layer in robotics, 3D printing, and the automotive industry. These factors are expected to attract market vendors to manufacture such systems to cater to end-user needs, which, in turn, would lead to positive market growth during the forecast period.

Key Laser Engraving Machine Market Trend

The growing application of laser technology and engraving in the apparel industry will fuel the global laser engraving machine market growth. Laser technology is used in different industries, such as the apparel industry. In the apparel industry, it is used in various manufacturing processes for apparel apart from cutting, such as engraving, embossing, and denim fading. There are several advantages of laser technology over conventional processes in the apparel industry. The use of laser science in engraving lowers the chances of damage to products besides reducing the consumables needed and leading to little or no toxic byproducts for disposal. In addition, very precise, clean, and permanent engravings are possible using laser engraving along with a high rate of production. Laser engraving is used to create pattern buttons and engrave leather and denim. Using laser engraving systems, different types of pictures, flower patterns, and personalized signatures are easily engraved on leather shoes, bags, wallets, belts, sofas, clothes, and other leather goods. These above-mentioned factors are expected to boost the demand for laser engraving systems, thus, escalating the growth of the global laser engraving machine market during the forecast period.

Key Laser Engraving Machine Market Challenge

Expensive engraving systems that limit mass-segment consumer adoption are the major challenge to the global laser engraving machine market growth. Although several benefits are attached to laser engraving systems, they remain unaffordable to many end-users due to their high price tag. Customers in the mass segment consider technologically advanced products like laser engraving machines as luxury products and do not usually buy them due to their high price. Because of the high price structure of laser engraving machines, many end-users prefer to buy mechanical laser engraving machines. Since laser engraving systems have more benefits than the latter but are more expensive, there is a threat to both types of engraving systems. However, there are also some counterfeit laser engraving systems available in the market, which are made from cheap materials and weak lasers that result in poor performance later on. This prevents end-users from investing in less costly engraving systems, as they are of poor quality. Subsequently, this factor is expected to pose a threat to the global laser engraving system market, which will tend to lower the market growth during the forecast period.

This laser engraving machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global laser engraving machine market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the laser engraving machine market during the forecast period.

Who are the Major Laser Engraving Machine Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• ACSYS Lasertechnik GmbH
• Coherent Inc.
• eurolaser GmbH
• Epilog Corp.
• 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.
• Vytek Laser Systems 
• Wisely Laser Machinery Ltd.
• Videojet Technologies Inc.

 

This statistical study of the laser engraving machine market encompasses successful business strategies deployed by the key vendors. The laser engraving machine market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.

Laser Engraving Machine Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the laser engraving machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global industrial machinery market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Laser Engraving Machine Market?

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41% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the laser engraving machine market in APAC. Market growth in this region will be slower than the growth of the market in other regions.

The increasing applications of engraving systems in multiple industries will facilitate the laser engraving machine market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2021, the introduction of vaccines led to the lifting of COVID-19-related restrictions in the region. Furthermore, most construction projects in the region resumed in 2021. In India, the government focused on increased spending to stimulate growth in the infrastructure sector and recover from the negative impact of COVID-19. The government also announced the plans to fast-track 102 major infrastructure projects outlined in its 2021-2025 development plan. These projects include those related to the development of infrastructure, such as transport, logistics, advanced manufacturing, high-tech industries, and affordable housing. Due to these factors, the laser engraving machine market in APAC is expected to witness growth during the forecast period.

What are the Revenue-generating Type Segments in the Laser Engraving Machine Market?

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The laser engraving machine market share growth in the fiber laser machines segment will be significant during the forecast period. Fiber laser machines incorporate optical fiber as an active gain medium to transfer the laser light from the source to the destination. The laser light/beam is generated and confined inside the core of the optical fiber, which is covered with ions such as praseodymium, neodymium, erbium, dysprosium, thulium, holmium, and ytterbium and is excited by a diode laser.

This report provides an accurate prediction of the contribution of all the segments to the growth of the laser engraving machine market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Laser Engraving Machine Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.18%
Market growth 2022-2026	$511.91 million
Market structure	Fragmented
YoY growth (%)	6.96
Regional analysis	APAC, Europe, North America, South America, and the Middle East and Africa
Performing market contribution	APAC at 41%
Key consumer countries	US, China, India, Japan, and Germany
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	ACSYS Lasertechnik GmbH, Coherent Inc., eurolaser GmbH, Epilog Corp., 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., Vytek Laser Systems, Wisely Laser Machinery Ltd., and Videojet Technologies Inc
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, and Market condition analysis for the 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.

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What are the Key Data Covered in this Laser Engraving Machine Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive laser engraving machine market growth during the next five years
• Precise estimation of the laser engraving machine market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the laser engraving machine industry across APAC, Europe, North America, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of laser engraving machine market vendors

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