The global laser marking machine market is predicted to reach USD 3.38 billion by 2024, driven by increasing adoption of laser systems to provide permanent embossing solutions in industries such as automobile, packaging and machine tools. The marking equipment industry witnessed notable changes over the past two decades, and the trend is expected to continue with an increasing demand for marking systems.
Laser marking has always been an important factor in industrial activities, especially in automobiles and machine tools as they provide permanent alphanumerical details on the product in terms of brand name, batch number and other details. This engraving helps in identification and security of the products.
The Asia Pacific region boasts one of the largest machine tool industries, which is expected to drive the market at a CAGR of 8.3 percent over the forecast period. The growth of the automobile, packaging, and electronics manufacturing market in emerging economies including China and India is also expected to drive the regional market.
New areas of application such as personalized gifts and increasing demand for customized jewelry and leather products are also expected to boost market growth.
The fiber laser marking machine market is expected to grow at a 6.6 percent CAGR owing to its increasing application in the plastic and automotive industry. Moreover, it is used for both commercial as well as industrial purposes.
Global laser marking machine market revenue, by product type, 2014 – 2024 (USD Billion). Image credit: Hexa Research
In 2016, the machine tool industry accounted for 30.7 percent of the overall market and is expected to witness above-average growth going forward. The rising need for marking precise specifications on manufactured components for identification and sales purposes is also projected to fuel the growth of the industry.
Meanwhile, government regulations for permanent marking as traceability are being implemented. For instance, the U.S. Department of Defense has the MIL-STD-130 standard practice for identifing U.S. military property. The FDA has implemented regulations to establish marking as an unique device identification system for medical devices where labelling is not sufficient.
Han’s Laser, Gravotech Marking and Epilog Laser were the leading manufacturers in the global industry in 2016. In addition to making core machinery, these companies provide user-friendly software solutions for their marking machines.
Filed Under: Industrial automation
