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
Laser Marking Machine Market Overview
Laser marking machine is defined as a machine that is used to mark or emboss permanent alphanumerical details on the product. Laser marking machine mark the details in terms of brand name, batch number and other details. Laser marking machine is widely used in various industries for marking the component. Laser marking does not require inks or tool bits for marking the product. It is highly flexible marking process as compared to other marking process.
Market Size and Forecast
The global laser marking machine market is expected to grow at a CAGR of 6.7% over the forecast period i.e. 2017-2024. Further, laser marking machine market is anticipated to reach noteworthy sales globally by 2024. Moreover, rising adoption of highly advanced marking technology by numerous industries such as automotive, aerospace and other industries for precise marking specifications on manufactured components are believed to bolster the growth of laser marking machine market across the globe.
The global laser marking machine market is segmented into product type, end use application and region. On the basis end use application segment, the market is segmented into automotive, aerospace, machine tool, electronics & microelectronics, medical, packaging, military and others. Further, machine tool segment captured the largest laser marking machine market. Apart from this, fiber laser segment by product type seize the highest CAGR in the overall laser marking machine market by 2024.
In terms of regional platform, Asia-Pacific is projected to dominate the global laser marking machine market over the forecast period. Additionally, Asia-Pacific region is believed to account for the highest market share of 38.4% in the global laser marking machine market by witnessing a CAGR of 8.6% during the forecast period. Moreover, the factors propelling the growth of laser marking machine market in this region includes growing demand for marking of components from automotive and packaging industry. Additionally, increasing penetration of big companies into Asia-Pacific due to cheap workforce is also anticipated to propel the growth of Asia-Pacific laser marking machine market.
North America and Europe laser marking machine markets are believed to witness outstanding growth over the forecast period. Additionally, U.S. and Canada are the major countries augmenting the demand for laser marking machine in North America region owing to strict regulation from government for marking medical equipment, surgical devices and others. Likely, presence of major key vendors such as IPG Photonics Corporation in laser marking machine is also predicted to bolster the growth of North America region laser marking machine market by the end of 2024. Apart from this, Western European countries such as Germany, U.K. and others are witnessing the augmented demand for laser marking machine due to growing automotive industry.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global laser marking machine market in the following segments:
By Product Type
By End Use Application
By Region
Global laser marking machine market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Implementation of numerous legislation by various agencies such as food and drug association (FDA) for marking of unique device identification for medical devices are anticipated to be the dynamic factor behind the rapid growth of laser marking machine market. Likely, wide spectrum of marking application in various industries along with introduction of highly efficient laser marking products such as fiber laser marking machine is predicted to foster the growth of laser marking machine market.
Furthermore, technologically advancement in marking along with rising research and development activities by major players in the field of laser marking machine is also projected to flourish the growth of laser marking machine market. In addition to this, mounting demand for precise specifications on manufactured products is believed to bolster the growth of laser marking machine market by the end of 2024. Moreover, growing adoption of laser marking machine in various industries to provide permanent embossing solutions such as automobile, packaging and machine tools are some of the factors triggering the growth of laser marking machine market across the globe.
On the contrary, lack of adoption of laser marking machine in underdeveloped region is expected to hinder the growth of laser marking machine market over the forecast period.
Key players
The major key players for laser marking machine market are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global 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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