Laser Marking Machine Market size was valued at USD 2.55 Billion in 2020 and is projected to reach USD 4.96 Billion by 2028, growing at a CAGR of 7.6% from 2021 to 2028. The increasing reliance of the manufacturing industries on laser marking machines has forced the suppliers to enhance the ratio between the demand and supply. The role of laser marking machines in different industrial applications has seen a major boom in recent times as these machines are ideal for marking logos, bar codes, and matrix codes on the surface of different products .

The mass production requirements of the laser marking procedures have driven the manufacturers to opt for this method resulting in heavy investment in this field. The mass production of different items has caused different problems for the suppliers as they have been struggling to keep a functional record for the products, but by using different laser marking machines now, they have been capable enough of providing an identity to each product so they can keep track of each product. The increasing reliance on laser marking technology has allowed the manufacturers to rely on state-of -the-art technology, and it is projected that the industry will grow extensively in the years to come as it has in the past, recording 43% growth in the year 2020.

Factors of Growth

The factors that are credited for the 43% growth in the laser marking machine's demand in the year 2020 included different elements. The reliability, accuracy, and compact design of the laser marking machines have made them capable of performing the marking applications on products that come in different shapes and sizes. The primary example of this is the face masks that were manufactured in large quantities, and manufacturers had relied on laser marking machines to provide them with product codes, identity numbers and impose different instructions on them that would be used to certify them for certain use in the future. The role of the laser marking technology in the fight against the COVID 19 pandemic can not be neglected as the making of PPPE equipment also required the badging and numbering of materials and products so they can be certified and differentiated among the different types.

The key element that should be kept in mind is the rising number of products that are being manufactured in bulk quantities, and suppliers need to keep track of different materials. The laser marking machines not only allow the manufacturers to identify the types of products but provide intensive details about different guidelines as well. The need to put different instructions and guidelines was inevitable as different government organizations had instructed the makers of PPE equipment to impose proper instructions regarding the SOPs.

Another aspect that functioned in favor of the growth of various laser marking machines is that the marking that is done by using any of these machines stays on the surface and doesn't fade away. The process of engraving doesn't take much time, which enables the machine to perform large-scale operations in no time. It can be noted that the growing demand for such machines in the electronics and defense industries is further increased to boost the market growth over the forecast period.

Insights Depending on Types

The machines showed massive growth, with the fiber laser type enjoying a boost in appreciation by 43% in the 2020 overview. It is predicted to grow furthermore in the forecast period keeping in mind the growing popularity and demand in different industries. The elements that have helped the growth of the machines in recent years include high optical quality, flexible fiber light, compact size, and high output power provided by the machine. The machines that had shown considerable growth in demand along with the fiber laser type include YAG, CO2, green and UV lasers. Each of these machines uses different wavelengths of the laser source, and it plays a pivotal role in different applications that are done using the laser marking machines.

Insights Depending on Applications

The application segment in regard to the laser marking machines had seen a massive growth that went up to 25% in the year 2020 and is subjected to take a major leap in the upcoming years till the year 2028. The ability of lasers to provide comprehensive alphanumeric details has surged the demand for laser marking machines in different industries. The increasing number of industrial applications such as the manufacturing of various designs, 1D & 2D bar codes, dates of manufacturing, manufacturer codes, logos, and brand names is the primary reason for application segment growth in the laser marking machine industries. The induction of automated means of manufacturing has opened new doors for different types of machinery, including the laser marking apparatus that is largely used in the engraving of manufacturing dates and other important sorts of labeling on the surfaces of various industrial-grade machines. Apart from the applications in the automotive sector, including the component manufacturing facilities, the second most favorable industry in terms of the CAGPR is the aerospace industry, with a projected growth of almost 10% in the forecast period between 2021 and 2028.

Insights Depending on Regions

Europe in the year 2020 was nearly valued at USD 750.0 million thanks to the growing demand for laser marking in automotive components and manufacturing facilities. The massive investment from the United Kingdom of nearly USD 335.0 million prior to the Europe exit in the year for the Future Flight Challenge was a progressive milestone for the nation in the aerospace industry. The other countries that have drastically shown interest in laser marking technology in the manufacturing sector include France, Germany, Italy, and the rest of the European bloc.

Looking at the Future

The future of the laser marking industry looks quite promising with the increment in the demand for advanced laser marking techniques in the Asian markets as well. If we take a look at the forecast, then it’s evident that the Indian manufacturers have also invested drastically in the development and the usage of different laser marking machines as more manufacturing plants are anticipated to be erected in cities like Madras/Chennai. The increasing demand in the space and automobile industries also indicates the upsurge in the usage of different compact laser marking machines that would be used to engrave the manufacturing details on different items and machines. The details that can be erected on the surface of machines might include the OEM numbers, manufacturing dates, specifications, brand names, logos, and other important information. The European and American markets are also anticipated to be shifting the focus to more advanced methods of laser marking as the technology progresses in the right direction. The induction of laser marking in other small-scale industries has also opened doors for improvement of the technological means as the usage is said to increase between the years 2021 and 2028.