Global Laser Marking Market to Witness a Revenue of USD 1115.0 Million by 2030 Owing to the Increasing Need for Tracking and Tracing of Products in Industries; Market to Grow with a CAGR of 5.6% During 2021-2030
Key Companies Covered in the Laser Marking Market Research Report Are Coherent, Inc., Han’s Laser Technology Industry Group Co., Ltd., TRUMPF Group, KEYENCE CORPORATION, Gravotech, Inc., JENOPTIK AG, Epilog Corporation, 600 Group PLC, Mecco, LaserStar Technologies Corporation, Telesis Technologies, Inc., IPG Photonics Corporation, and others key market players.
New York, Feb. 09, 2022 (GLOBE NEWSWIRE) — According to the statistics by the World Bank, the value added by the manufacturing sector around the globe in current US$ increased from USD 6.177 Trillion in the year 2000 to USD 13.5 Trillion in the year 2020. Moreover, according to the statistics by the United Nations Industrial Development Organization (UNIDO), manufacturing production in developing and emerging industrial economies registered an annual increase of 6.7% in the third quarter of 2021, following a growth of 30.8% in the previous quarter. Additionally, the industrialized economies (IE) reported a growth rate of 6.1% in year-over-year comparison, while on the other hand, the world’s largest manufacturer, China, recorded an annual growth of 4.6%. Besides this, the statistics also stated that the industrialized countries reported an annual output growth of 6.1% in the third quarter of 2021, following a rise of 19.4% in the previous quarter.
Kenneth Research recently added a report on “Global Laser Marking Market” which is studied for the forecast period, i.e., 2021-2030. The report covers a detailed analysis of the key players operating in the market, along with their product portfolio analysis, and competitive edge analysis by using advanced statistical tools, such as SWOT analysis, and Porter’s five forces analysis. The report on the market, which is studied using primary and secondary research methods, further includes the key market dynamics applicable for the market growth in the coming years.
Industrial automation in the recent years has gained significant importance as it can help lower operational costs of industries. According to the statistics by the International Federation of Robotics (IFR), robot installations in the year 2020 reached 383545 units, representing a growth of almost 0.5% from its previous year. Laser marking is primarily done to identify parts and products in an organization by the use of 2D barcodes, alphanumerical serial numbers, VIN numbers and others. The process of laser marking is highly suitable for industries that follow a continuous process line and often require numerous parts, that if left unidentified, may create a havoc in the overall manufacturing process.
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The global laser marking market generated a revenue of USD 651.3 Million in the year 2020 and is further expected to touch USD 1115.0 Million by the end of 2030, by growing with a CAGR of 5.6% during the forecast period. The growth of the market can also be attributed to the growing adoption of automation amongst companies. For instance, nearly 20% of the companies with an employee size of 1-50 recorded automation of most of their processes, whereas close to 44% of the companies with an employee size of 251 or more recorded automation of their processes.
The global laser marking market is segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Amongst the market in these regions, the market in the Asia Pacific generated the largest revenue of USD 270.3 Million in the year 2020 and is further expected to touch USD 494.3 Million by the end of 2030. The market in the region is further segmented by country into Australia, Japan, Singapore, South Korea, China, India and the Rest of Asia Pacific. Amongst the market in these countries, the market in China generated the largest revenue of USD 125.6 Million in the year 2020 and is further expected to garner USD 245.4 Million by the end of 2030. Moreover, the market in India is projected to generate the second-largest revenue of USD 62.8 Million by the end of 2030, up from a revenue of USD 34.2 Million in the year 2020.
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On the other hand, the market in Europe generated the second-largest revenue of USD 194.0 Million in the year 2020, and is further projected to display a revenue of USD 327.0 Million by the end of 2030. The market in the region is further segmented by country into the United Kingdom, Germany, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Amongst the market in these countries, the market in Germany generated the largest revenue of USD 57.3 Million in the year 2020 and is further expected to touch USD 104.2 Million by the end of 2030. Moreover, the market in the United Kingdom is expected to generate the third-largest revenue of USD 48.7 Million by the end of 2030, up from a revenue of USD 28.4 Million in the year 2020.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global laser marking market is segmented by laser type into CO2 laser, diode laser, fiber laser, and solid state laser. Amongst these segments, the fiber laser segment generated the largest revenue of USD 363.9 Million in the year 2020 and is further expected to touch USD 672.0 Million by the end of 2030. In the Asia Pacific, the segment generated the largest revenue of USD 150.3 Million in the year 2020 and is further expected to touch USD 296.5 Million by the end of 2030. Meanwhile, in Europe, the segment is expected to generate the largest revenue of USD 196.2 Million by the end of 2030, up from a revenue of USD 107.9 Million in the year 2020.
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The global laser marking market is further segmented by application into deep laser etching, laser ablation/surface removal, laser engraving, laser annealing, and others. Amongst these segments, the laser ablation/surface removal segment generated the largest revenue of USD 179.8 Million in the year 2020 and is further expected to touch USD 315.8 Million by the end of 2030. In the Asia Pacific, the segment is expected to generate the largest revenue of USD 141.0 Million by the end of 2030, up from a revenue of USD 75.2 Million in the year 2020. Moreover, in North America, the segment generated the largest revenue of USD 35.4 Million in the year 2020 and is further expected to touch USD 58.6 Million by the end of 2030.
The global laser marking market is also segmented on the basis of type, offering, and by end-user industry.
Global Laser Marking Market, Segmentation by Type
- 2D Laser Marking
- 3D Laser Marking
Global Laser Marking Market, Segmentation by Offering
- Hardware
- Software
Global Laser Marking Market, Segmentation by End-User Industry
- Machine Tools
- Semiconductor & Electronic
- Automotive
- Medical & Healthcare
- Aerospace & Defense
- Packaging
- Others
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Some of the prominent industry leaders in the global laser marking market that are included in our report are Coherent, Inc., Han’s Laser Technology Industry Group Co., Ltd., TRUMPF Group, KEYENCE CORPORATION, Gravotech, Inc., JENOPTIK AG, Epilog Corporation, 600 Group PLC, Mecco, LaserStar Technologies Corporation, Telesis Technologies, Inc., IPG Photonics Corporation, and others.
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