The Importance of Laser Marking Market for Electronics and Semiconductor Manufacturing
The Laser Marking Market is anticipated to expand significantly, rising from USD 2.9 billion in 2022 to USD 4.1 billion by 2027. This increase is attributable to the higher performance of laser markers compared to conventional material marking methods, the expanding use of laser markers for traceability and part identification across industries, and the rising acceptance of smart manufacturing methods. From 2022 to 2027, the market is anticipated to expand at a compound annual growth rate (CAGR) of 7.2%.
Key players involved in the manufacturing of laser marking systems are Coherent, Inc. (US), TRUMPF (Germany), Han's Laser Technology Co., Ltd. (China), Gravotech Marking (France), IPG Photonics Corp. (US), 600 Group (UK), Danaher Corp. (US), Novanta Inc. (US), KEYENCE Corp. (Japan), Huagong Tech Co., Ltd. (China), Trotec Laser (Austria), Epilog Laser (US), and MECCO (US), among others.
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Higher performance of laser markers over traditional material marking techniques
Due to its improved accuracy, readability, reduced labour cost, and less loss, laser marking systems outperform conventional material marking processes. Laser marking is far quicker than dot peen marking devices and can produce 2D designs in only one second or less. In factories where many items need to be marked or engraved, this saves a lot of time. For foaming, colouring, carbon migration, and annealing, laser marking devices are frequently utilised.
Hardware segment to hold largest share of laser marking market during the forecast period.
Based on its biggest market share in 2021, the hardware segment is expected to keep dominating the laser marking market over the forecast period. This is because hardware for various kinds of laser marking systems is in high demand. This industry is expanding as a result of frequent releases of new hardware by major participants in the market. For instance, in May 2022, Gravotech introduced the LW2, a new laser marking workstation that can be utilised for tools, electronics, electrical components, automotive parts, and medical devices in addition to permanent markings and identity plates.
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Laser marking market for packaging industry is expected to grow at the highest CAGR during the forecast period
During the forecast period, the laser marking market for the packaging sector is anticipated to grow at the greatest compound annual growth rate (CAGR). In the packaging sector, changeable data such as expiration dates, batch and serial numbers, and product labels are frequently shown using laser markers. In the packaging business, CO2 lasers are frequently utilised for marking applications. Food items and printed circuit boards (PCBs) among other packaging materials are marked with lasers.
Laser marking market in Europe is expected to hold the second largest size during the forecast period.
Germany, France, and the UK are predicted to make up the majority of the industry's growth throughout the projection period, making Europe's laser marking market the second-largest in the world. The region's laser marking market is expanding due to Europe's strong industrial base, superior engineering capabilities, high-quality workforce, and extensive R&D activities. The CE mark requirement for medical devices in Europe also contributes to the market's expansion there over the forecast period. The CE mark enables businesses to sell their goods concurrently in all EU member states.
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