Laser Marking Machine Market
Laser Marking Machine Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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Laser Marking Machine Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
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.
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
Our in-depth analysis segmented the global laser marking machine market in the following segments:
Global laser marking machine market is further classified on the basis of region as follows:
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.
The major key players for laser marking machine market are as follows
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