The overall laser marking market is expected to grow from USD 2.1
billion in 2018 to USD 3.0 billion by 2024, at a CAGR of 6.0% during the
forecast period. Increasing adoption of laser marking across end-user
verticals and enhanced performance of laser markers over traditional
material marking techniques are the key factors driving the growth of
this market.
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Fiber laser type expected to gain significant share of laser marking market by 2024
Fiber laser type is estimated to account for the
largest share of the laser marking market during the forecast period.
Features such as high output power, flexible fiber light, compact size,
and high optical quality have contributed to the growth of the fiber
laser segment. A fiber laser uses an optical fiber doped as an active
gain medium. Fiber laser comes in various power modes (continuous wave
or modulated modes) and is suitable for laser marking and engraving
applications across the military, healthcare, semiconductor &
electronics, and research verticals.
Laser marking market for packaging end-user vertical to grow at highest CAGR from 2019 to 2024
The market for the packaging end-user vertical is
expected to grow at the highest CAGR from 2019 to 2024. Majority of the
packaging companies have to display variable data, such as expiration
dates and batch and serial numbers, as labels on the products. Laser
markers are perfectly suited for marking at the end of the production
process and can be used on several materials, including cardboard,
paper, and polymer. Marking with laser systems is a contactless process,
thus negating any mechanical stress on the packaging. These factors are
likely to contribute to the highest growth rate of the packaging
segment as compared to the other end-user segments.
Laser marking market in RoW to grow at highest CAGR during forecast period
The laser marking market in RoW is expected to grow
at the highest CAGR during the forecast period. RoW comprises the Middle
East & Africa and South America, which have significant potential
for the growth of the laser marking market. The industrial manufacturing
and aerospace & defense sectors in the Middle East & Africa are
witnessing significant developments, which are expected to support the
increasing demand for laser marking. Increasing use of electric vehicles
in the Middle East will boost the automotive vertical, which, in turn,
is expected to fillip the demand for laser marking in this region. South
America, which is in an early stage of economic development compared to
other regions studied in this report, offers good growth opportunities
for the laser marking market.
Key Market Players
Key players in the laser marking market comprise
companies operating at different stages of the market’s value chain. The
key market players include Coherent (US), Han’s Laser (China), Trumpf
(Germany), Gravotech (France), Jenoptik (US), Epilog Laser (US), 600
Group (UK), Mecco (US), Laserstar (US), and Novanta (US). Organic growth
strategies, such as product launches, are the focus of many of the
above companies.
Prominent players have adopted product launches,
followed by mergers & acquisitions, as part of their key business
strategy to strengthen their position in the laser marking market. For
instance, in February 2016, Coherent (US), under its AVIA laser series,
launched green nanosecond lasers, which can deliver an average power of
up to 65 W at 532 nm. These lasers can be used for marking, cutting,
scribing, and drilling.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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