Portable Engraving System Market by Product and Geography - Forecast and Analysis 2022-2026

The portable engraving system market share is expected to increase by USD 194.3 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.44%.

This portable engraving system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers portable engraving system market segmentation by product (laser portable engraving system and mechanical portable engraving system) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The portable engraving system market report also offers information on several market vendors, including AP Lazer, Dolphin Laser Machine Pvt.Ltd, Dongguan Diaojiang Technology Co. Ltd, Dongguan Sanhe Laser Technology Co. Ltd., Epilog Corp., GCC, Gravotech Marking SAS, HeatSign Industry Ltd., Hispeed Laser Technology Ltd., Laserstar Technologies Corp., Morn Laser, PRAKASH GROUP, Pryor Technology Ltd., RED Technology Co. Ltd., Roland DGA Corp., Sahajanand Laser Technology Ltd., SIC MARKING Group, TIANJIN RICHPEACE AI CO. Ltd., Trotec Laser GmbH, and Western Engravers Supply Inc. among others.

What will the Portable Engraving System Market Size be During the Forecast Period?

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Portable Engraving System Market: Key Drivers, Trends, and Challenges

The increasing applications of engraving systems in multiple industries is notably driving the portable engraving system market growth, although factors such as the expensive engraving systems limiting mass-segment consumers' adoption may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the portable engraving system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Portable Engraving System Market Driver

One of the key factors driving growth in the portable engraving system market is the increasing applications of engraving systems in multiple industries. Apart from the small businesses, portable engraving systems, especially laser engraving systems, have witnessed a rapid rise in their application in many industrial segments. Identification security is one of the largest segments where laser engraving systems are ideally used for credit cards, identity cards, sensitive documents, and other items requiring safety measures. To cater to this, the market competitors are offering engraving systems, especially laser engraving systems, to mark an item permanently to differentiate between fake or replica products. Laser portable engraving systems are also used in various industries and establishments such as woodworking, metalworking, digital and retail signage, model making, sports equipment, gadgets, apparel shops, and fabric shop. These factors are expected to attract market competitors to manufacture such systems to cater to people's needs, which, in turn, would have positive market growth.

Key Portable Engraving System Market Trend

The growing application of laser technology and engraving in the apparel industry is a portable engraving system market trend that is expected to have a positive impact in the coming years. In the apparel industry, it is used in various manufacturing applications of apparel apart from cutting, which include engraving, embossing, and denim fading. With the help of laser technology in engraving, the potential of product damage is reduced, a negligible number of consumables is needed, and lesser or no toxic byproduct disposal problems occur. In addition, very precise, clean, and permanent engravings are achieved through laser engraving systems with a high rate of production. 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 factors are expected to boost the demand for laser portable engraving systems. Thus, escalating the growth of the global portable engraving system market.

Key Portable Engraving System Market Challenge

The expensive engraving systems limiting mass-segment consumers' adoption will be a major challenge for the portable engraving system market during the forecast period. Although several benefits are attached to engraving systems, they seem unattractive sometimes due to their high price tag. Customers in the mass segment consider technologically advanced products like laser portable engraving systems as luxury products and do not usually buy them due to their high price. Many customers prefer to buy mechanical portable engraving systems as they are less expensive. There are also some counterfeit products available in the market, which are made up of cheap materials and weaker lasers that result in poor performance later on. This limits the customers from investing money in cheap engraving systems as they are of poor quality and expensive engraving systems as they cannot be afforded. Subsequently, this factor is expected to pose a threat to the global portable engraving system market.

This portable engraving system 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 portable engraving system market as a part of the global electronic equipment and instruments market within the overall electronics 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 portable engraving system market during the forecast period.

Who are the Major Portable Engraving System Market Vendors?

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

 

• AP Lazer
• Dolphin Laser Machine Pvt.Ltd
• Dongguan Diaojiang Technology Co. Ltd
• Dongguan Sanhe Laser Technology Co. Ltd.
• Epilog Corp.
• GCC
• Gravotech Marking SAS
• HeatSign Industry Ltd.
• Hispeed Laser Technology Ltd.
• Laserstar Technologies Corp.
• Morn Laser
• PRAKASH GROUP
• Pryor Technology Ltd.
• RED Technology Co. Ltd.
• Roland DGA Corp.
• Sahajanand Laser Technology Ltd.
• SIC MARKING Group
• TIANJIN RICHPEACE AI CO. Ltd.
• Trotec Laser GmbH
• Western Engravers Supply Inc.

 

This statistical study of the portable engraving system market encompasses successful business strategies deployed by the key vendors. The portable engraving system market is fragmented and the vendors are deploying growth strategies such as investments in R&D to compete in the market.

Product Insights and News

• AP Lazer - AP Lazer is a privately held company headquartered in the US. It is a regional company, with limited information regarding its financials and limited information regarding its employee strength available. Its revenue from the global portable engraving system market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• AP Lazer - The company offers portable engraving systems such as SN4836LR and SN2616 laser machines. 

To make the most of the opportunities and recover from 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 portable engraving system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Portable Engraving System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the portable engraving system 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.

Which are the Key Regions for Portable Engraving System Market?

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

The increasing awareness of convenient and innovative products and the growing adaptability in the region will facilitate the portable engraving system 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 Impact and Recovery Analysis

In 2020, the COVID-19 pandemic slowed down the expansion of the regional portable engraving system market. Governments of various countries, such as China, India, and Japan, imposed nationwide lockdowns, which led to the shutdown of manufacturing units of various end-user industries, such as construction, metallurgy, automotive, paper, plastic, and textile industries. In 2021, the introduction of vaccines led to the lifting of the COVID-19-related restrictions in the region. The work on construction projects in the region resumed in 2021. Furthermore, in India, the government focused on increased spending to stimulate growth in the infrastructure sector and recover from the negative impact of COVID-19. 

What are the Revenue-generating Product Segments in the Portable Engraving System Market?

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The portable engraving system market share growth by the laser portable engraving system segment will be significant during the forecast period. The superior performance, compact size, high output power, and durability of laser portable engraving systems make them more prominent compared with mechanical engraving systems. Other advantages of using a laser portable engraving system are high precision at high speeds, negligible or zero inconveniences of dust and noise, smooth cut-edges with no requirement for polishing, less waste, and greater efficiency. These factors are expected to attract more customers in the global portable engraving system market, due to which the market through this segment is expected to grow fast in terms of revenue during the forecast period. 

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

 

Portable Engraving System Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.44%
Market growth 2022-2026	$ 194.3 million
Market structure	Fragmented
YoY growth (%)	4.29
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 41%
Key consumer countries	US, China, India, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AP Lazer, Dolphin Laser Machine Pvt.Ltd, Dongguan Diaojiang Technology Co. Ltd, Dongguan Sanhe Laser Technology Co. Ltd., Epilog Corp., GCC, Gravotech Marking SAS, HeatSign Industry Ltd., Hispeed Laser Technology Ltd., Laserstar Technologies Corp., Morn Laser, PRAKASH GROUP, Pryor Technology Ltd., RED Technology Co. Ltd., Roland DGA Corp., Sahajanand Laser Technology Ltd., SIC MARKING Group, TIANJIN RICHPEACE AI CO. Ltd., Trotec Laser GmbH, and Western Engravers Supply 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, 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 Portable Engraving System Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive portable engraving system market growth during the next five years
• Precise estimation of the portable engraving system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the portable engraving system industry across APAC, North America, Europe, South America, and 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 portable engraving system market vendors

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