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Global Laser Marking Market to Surpass $3 Billion by 2024, Growing at a CAGR of 6% During 2019-2024

/EIN News/ -- Dublin, July 05, 2019 (GLOBE NEWSWIRE) -- The "Laser Marking Market by Laser Type (Fiber Laser, Diode Laser, Solid State Laser, and CO2 Laser), Offering (Hardware, Software, and Services), End User (Machine Tools, Semiconductor & Electronics, Automotive) & Geography - Global Forecast to 2024" report has been added to's offering.

Laser marking solutions have been witnessing high growth in terms of their adoption. The market was valued at USD 2,100.7 million in 2018 and is expected to reach USD 3,000.8 million by 2024, at a CAGR of 6% from 2019 to 2024.

This report offers detailed insights into the laser marking market, segmented based on laser type, offering, end user, and region. By laser type, the laser marking market has been segmented into fiber laser, diode laser, solid state laser, and CO2 laser. By offering, the market has been segmented into hardware, software, and services. By end user, the market has been segmented into machine tools, semiconductor & electronics, automotive, medical & healthcare, aerospace & defense, packaging, and others. The study forecasts the size of the market in 4 regions: North America, Europe, APAC, and RoW.

Key players in the laser marking market include Coherent, Inc. (US), Han's Laser Technology Industry Group Co., Ltd. (China), Trumpf Group (Germany), Gravotech Group (France), and Jenoptik AG (Germany). Other market players include Epilog Laser (US), 600 Group PLC (UK), Mecco Ltd. (US), LaserStar Technologies Corporation (US), and Novanta, Inc. (US).

The laser marking market is expected to grow at a CAGR of 6% from 2019 to 2024

Increasing adoption of laser marking across end-user verticals and enhanced performance of laser markers over traditional material marking techniques are the key factors driving the growth of this market.

Diode laser type is likely to grow at the highest CAGR during the forecast period

By type, the market for diode laser is expected to grow at the highest CAGR within the overall laser marking market during the forecast period. The diode laser is also known as a laser diode or injection laser. After passing current through the laser, diode laser produces coherent radiation in the visible or infrared spectrum. The market growth for this laser type can be attributed to its application in ablation marking, day/night marking, and heat affected zone marking.

Hardware offering held the largest share of the laser marking market in 2018

By offering, the hardware segment accounted for the largest share of the laser marking market in 2018. This largest market share can be attributed to the high requirement of hardware in several types of laser marking systems. Hardware components, such as laser, controller, filter, rotary device, galvanometer, and power supply, are the building blocks of laser markers and engraving machines and are elemental for their proper functioning.

APAC is expected to hold a significant share of the laser marking market by 2024

APAC is expected to account for the largest share of the laser marking market by 2024. China, India, South Korea, and Japan are the major contributors to the growth of the laser marking market in APAC. APAC has been ahead in terms of adoption of laser marking products and solutions compared to other regions. The region's huge population, increasing R&D investments, and growing manufacturing and electronics sectors are expected to drive the growth of the laser marking market.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Scope of the Study
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.1.1 Secondary and Primary Research Key Industry Insights Secondary Data Secondary Sources
2.1.2 Primary Data Primary Interviews With Experts Breakdown of Primaries Primary Sources
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach Approach for Bottom-Up Analysis (Demand Side)
2.2.2 Top-Down Approach Approach for Top-Down Analysis (Supply Side)
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Market, By Laser Type
4.3 Market, By Offering
4.4 Market, By End User
4.5 Market in APAC, By Country and End User
4.6 Market, By Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increasing Adoption of Laser Marking Across End-User Verticals Enhanced Performance of Laser Markers Over Traditional Material Marking Techniques
5.2.2 Restraints High Deployment Cost
5.2.3 Opportunities Increase in Demand for Custom Marking and Engraving Increase in Automation Across the Manufacturing Sector
5.2.4 Challenges Regulatory Compliance
5.3 Value Chain Analysis

6 Laser Marking Market, By Laser Type
6.1 Introduction
6.2 Fiber Laser
6.2.1 Features Such as High Output Power, Flexible Fiber Light, Compact Size, and High Optical Quality Drive Demand for Fiber Laser
6.3 Diode Laser
6.3.1 Diode Laser is Well Suited for Ablation Marking, Day/Night Marking, and Heat Affected Zone Applications
6.4 Solid State Laser
6.4.1 Yag Laser High Thermal Conductivity Makes Yag Laser Suitable for Several Applications
6.4.2 Neodymium Glass Laser Neodymium Glass Lasers Can Be Made Into Several Shapes and Sizes and are More Suited for High Energy Pulsed Operation
6.4.3 Thin Disk Laser Ability to Generate High Peak Power in Picosecond Pulses Boosts This Type's Demand
6.5 CO2 Laser
6.5.1 Wide Range of Commercial, Industrial, and Military Applications Drives Demand for CO2 Laser

7 Laser Marking Market, By Offering
7.1 Introduction
7.2 Hardware
7.2.1 Laser Active Laser Medium Active Laser Medium Acts as A Source of Optical Gain to Produce Population Inversion External Energy Source Laser Markers are Supported Via A Pump Source, Which Transfers Energy From an External Source Optical Resonator Optical Resonators are Used for Guiding the Stimulated Emission Process to Produce A Laser Beam
7.2.2 Controller A Controller is Used to Control the Laser Beam Emitted From the Laser Source
7.2.3 Filter Filters are Used to Filter A Range of Wavelengths for Transmitting Desired Wavelengths and Filtering Out Unwanted Wavelengths
7.2.4 Rotary Device Laser Marking Machines are Supported By A Rotary Device to Work on Rounded Items
7.2.5 Galvanometer Galvanometers are Used to Guide the Beam Within A Limited Area Through A Lens Onto the Surface of the Object
7.2.6 Power Supply Power Supply Provides Energy to All the Devices Installed in A Laser Marking System
7.3 Software
7.3.1 Software Enables A Laser Marker to Perform Several Functions, Including Laser Marking of Texts, Logos, Graphics, Data-Matrix Codes, and Barcodes
7.4 Services
7.4.1 Both Pre- and Post-Sales Services are Offered By Companies and Their Channel Partners

8 Laser Marking Market, By End User
8.1 Introduction
8.2 Machine Tools
8.2.1 Ability of Laser Markers to Provide Permanent Alphanumeric Details on Objects Drives Their Demand in Machine Tools Manufacturing
8.3 Semiconductor & Electronics
8.3.1 Permanent, Solder-Resistant, and Machine-Readable Laser Markings are Used in PCBs to Ensure Flawless Quality and Guarantee Accurate Identification
8.4 Automotive
8.4.1 Laser Marking Systems Find Application in A Variety of Materials for Codes and Contents
8.5 Medical & Healthcare
8.5.1 Medical & Healthcare Industry Requires High Precision Lasers for Products to Meet the Stringent Identification and Traceability Guidelines
8.6 Aerospace & Defense
8.6.1 Ability to Work With Several Metals Makes Laser Markers Ideal for Aerospace & Defense Vertical
8.7 Packaging
8.7.1 Packaging Vertical to Witness the Highest Growth Rate Among End Users
8.8 Others
8.8.1 Apparel & Clothing Natural Fibers and Synthetic Fabrics are Normally Engraved to Get the Required Design
8.8.2 Architecture & Designing Marking and Engraving of Several Items Such as Wood and Plywood Boost Demand for Laser Marking in Architecture & Designing

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US US Held Largest Share of Market in North America
9.2.2 Canada Increasing Adoption of Regulation for Label Engraving on Manufactured Products to Support Growth in Demand for Laser Marking Solutions
9.2.3 Mexico Market in Mexico to Grow at the Highest Rate
9.3 Europe
9.3.1 Germany Germany Held Largest Share of Market in Europe in 2018
9.3.2 France Presence of Prominent Automotive, Aerospace & Defense, and Medical Companies to Drive Demand for Laser Marking
9.3.3 UK Quality Control Application Supporting Growth in Demand for Laser Markers in the Country
9.3.4 Rest of Europe Market in RoE Expected to Witness Highest CAGR in Europe
9.4 Asia Pacific
9.4.1 China China Held Largest Share of Market in APAC in 2018
9.4.2 Japan Rapid Industrialization and Modernization Expected to Boost Demand for Laser Markers in the Country
9.4.3 India Market in India Expected to Witness Highest CAGR in APAC
9.4.4 South Korea Electronics and Automotive Verticals to Drive Demand for Laser Marking in the Country
9.4.5 Rest of APAC Growth in Manufacturing Activities to Drive Demand for Laser Marking in Rest of APAC
9.5 Rest of the World
9.5.1 Middle East and Africa (MEA) MEA Held Larger Share of Market in RoW
9.5.2 South America Market in South America Expected to Grow at Higher CAGR in RoW

10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking Analysis: Market
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Benchmarking
10.4.1 Strength of Product Portfolio (25 Companies)
10.4.2 Business Strategy Excellence (25 Companies)
10.5 Competitive Scenario
10.5.1 Expansions
10.5.2 Product Launches and Developments
10.5.3 Acquisitions
10.5.4 Partnerships, Collaborations, Alliances, and Joint Ventures

11 Company Profiles
11.1 Key Players
11.1.1 Coherent
11.1.2 Han's Laser
11.1.3 Trumpf
11.1.4 Gravotech
11.1.5 Jenoptik
11.1.6 Epilog Laser
11.1.7 600 Group
11.1.8 Mecco
11.1.9 Laserstar
11.1.10 Novanta
11.2 Other Companies
11.2.1 IPG Photonics
11.2.2 Zhejiang Jiatai Laser Science and Technology
11.2.3 Acsys Lasertechnik
11.2.4 Panasonic
11.2.5 Danaher
11.2.6 Arihant Maxsell Technologies
11.2.7 Sintec Optronics
11.2.8 Videojet Technologies
11.2.9 LNA Laser
11.2.10 Telesis

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Related Topics: Lasers