Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Fiber Laser Marking Machine Market Overview
Fiber laser marking machine is referred to a machine which is used to mark an object. Fiber laser marking machine is widely used in numerous industries for marking the component or product such as automotive, packaging and others. This technique does not require inks or tool bits for marking the product. Fiber lasers marking machine provide high power carbon dioxide laser with finely focusable beam.
Market Size and Forecast
The global fiber laser marking machine market is expected to grow at a CAGR of 10.9% over the forecast period i.e. 2017-2024. Further, fiber laser marking machine market is anticipated to reach USD 4.1 billion globally by 2024. Moreover, growing adoption of advanced marking technology by many industries and rising need for marking precise specifications on manufactured components are believed to bolster the growth of fiber laser marking machine market across the globe.
On the basis application, the global fiber laser marking machine market is segmented into aerospace, machine tool, electronics & microelectronics, medical, packaging, military and others. Further, with 30.1% in 2016, machine tool segment accounted for the largest fiber laser marking machine market.
In terms of regional platform, Asia-Pacific is expected to dominate the global fiber laser marking machine market over the forecast period. Additionally, Asia-Pacific region in 2016 accounts for the highest market share of 36% of the overall fiber laser marking machine market. Asia-Pacific is believed to witness significant growth owing to the growing demand for marking of components from automotive and packaging industry. Additionally, expansion of automotive industry and positive GDP figures are anticipated to propel the growth of Asia-Pacific fiber laser marking machine market.
North America region captured the second largest market of fiber laser marking machine in terms of revenue in 2016. Additionally, U.S. and Canada are the major countries augmenting the demand for fiber laser marking machine owing to strict regulation from government for marking medical equipment, surgical devices and others. Likely, presence of major key players in fiber laser marking machine such as IPG Photonics Corporation in North America region is also predicted to bolster the growth of fiber laser marking machine market over the forecast period.
Europe region is believed to be the fastest growing fiber laser marking machine by the end of 2024. Further, Western European countries such as Germany, U.K. and others are witnessing the augmented demand for fiber laser marking machine due to growing automotive industry.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global fiber laser marking machine market in the following segments:
By Product Type
By Application
By Region
Global fiber laser marking machine market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Factors such as rising demand for precise specifications on manufactured products and increasing application of fiber laser marking machine in the plastic and automotive industry are believed to be the dynamic factor behind the rapid growth of fiber laser marking machine market by the end of 2024. Moreover, growing adoption of fiber laser marking machine in various industries to provide permanent embossing solutions such as automobile, packaging and machine tools are envisioned to bolster the growth of fiber laser marking machine market across the globe.
Furthermore, implementation of regulations by various agencies such as food and drug association (FDA) to establish marking of unique device identification for medical devices is projected to elevate the growth of fiber laser marking machine market. Likely, technologically advancement in marking along with rising research and development activities by major players in the field of fiber laser marking machine is predicted to foster the growth of fiber laser marking machine market.
However, lack of adoption of fiber laser marking machine in underdeveloped region is expected to hinder the growth of fiber laser marking machine market over the forecast period.
Key players
The major key players for fiber laser marking machine market are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global fiber laser marking machine market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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