Laser Marking Market in Electronics: Enabling High-Contrast and Permanent Markings
According to the study "Laser Marking Market by Laser Type, Industry, Offering, Application, Method, Material, and Region - Global Forecast to 2027," the global laser marking market is anticipated to expand significantly over the next few years. The market, which was valued at USD 2.9 billion in 2022, is predicted to rise at a compound annual growth rate (CAGR) of 7.2% from 2022 to 2027, reaching USD 4.1 billion.
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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Driver: Higher performance of laser markers over traditional material marking techniques
One of the main factors influencing the uptake of laser marking systems is their superior performance when compared to conventional material marking procedures. In comparison to conventional techniques, laser markers are more accurate, easier to read, cheaper to produce, and cause less material loss. The remarkable speed of laser marking devices is a key benefit. In comparison to conventional marking methods like dot peen marking, laser markers are substantially faster. For instance, whereas dot peen marking devices require about 5 seconds, laser markers can produce a 2D design in as little as a second. This time-saving function is especially useful in industrial situations when a large number of products need to be marked or engraved, increasing production and efficiency.
Challenge: Technical complexities related to high-power lasers
There are a number of technological challenges associated with using high-power lasers. The requirement for one or more potent pump sources, especially in the case of diode-pumped lasers, in order to attain high output power in continuous wave (CW) operation, is one of the major problems. The performance and output power of the laser system are directly influenced by the effectiveness and power of the pump sources. The need for a high-efficiency wall socket for continuous CW operation is another technical hurdle for high-power lasers. At high power levels, problems including thermal management, energy conversion losses, and heat dissipation make it harder to achieve high efficiency. For high-power lasers to operate reliably and continuously, these obstacles must be overcome.
Hardware segment to hold the largest share of laser marking market during the forecast period.
Throughout the projection period, the hardware segment is anticipated to hold the greatest market share for laser marking. The hardware sector already made up a sizeable percentage of the market in 2021, and this tendency is anticipated to continue in the next years. The significant demand for hardware parts in various kinds of laser marking systems can be ascribed to the hardware segment's dominance. For laser marking systems to produce accurate and dependable marking results, they need trustworthy hardware. The basis of laser marking solutions is hardware, such as laser systems, laser markers, workstations, and related tools. These parts are essential for producing and managing laser beams, which enables precise marking on various materials and surfaces.
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Laser marking market for packaging industry is expected to grow at the highest CAGR during the forecast period
During the projected period, the packaging industry's laser marking market is anticipated to experience the greatest compound annual growth rate (CAGR). In the packaging business, laser marking systems are essential, especially for displaying variable data and product labels, such as expiration dates, batch numbers, and serial numbers. The substantial growth potential in the packaging industry has been influenced by the demand for accurate and dependable marking solutions. Laser markers are widely used in the packing sector for marking purposes, and CO2 lasers are especially well-liked because they work well with a variety of materials. CO2 lasers can be used to label a variety of packaging materials, including printed circuit boards (PCBs) and food products.
Laser marking market in Europe is expected to hold the second-largest size during the forecast period.
During the projection period, the European laser marking market is anticipated to have the second-largest market size. Germany, France, and the UK are important nations that have contributed to the expansion of this sector. Europe has a robust industrial foundation and is well-known around the world for its outstanding engineering capabilities, knowledgeable workforce, and major research and development (R&D) operations. These elements are essential in propelling the expansion of the laser marking market in the area. The strong industrial base in Europe, which includes sectors like automotive, aircraft, electronics, and medical devices, provides an ideal setting for the uptake of laser marking technology. In these industries, laser marking systems are frequently used for product identification, traceability, and quality control purposes. The demand for sophisticated laser marking solutions is further fueled by Europe's emphasis on precision engineering and high-quality production techniques.
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