Laser Engraving Machine Market By Product (CO2 Laser Engraving Machine, Fiber Laser Engraving Machine, Diode Laser Engraving Machine, and Nd:YAG Laser Engraving Machine), By End User (Advertising Decoration, Printing & Packaging, Leather & Apparel, Model Making, Arts & Crafts, and Others), and By Region - Market Trends, Analysis, and Forecast till 2029

Laser Engraving Machine Market accounted for USD 2.6 Billion in 2019 and is estimated to be USD 5.3 Billion by 2029 and is anticipated to register a CAGR of 7.5%.

The laser engraving machine is used to engrave or render permanent marks on various surface forms. The utilization of laser marking machines is pushed through several industries and is very suitable and reliable in terms of speed and reliability compared to other marking methods, like dot-peen marking machines. Industry 4.0 has also had an impression on the worldwide demand for laser marking machines. The growing demand for precision, high speed, and automation from a spread of industries, like food and beverage, automotive, and packaging, is the main drive behind the expansion of the industry.

Growing need for unique device identification and deep engraving

The growing need for unique device identification and deep engraving during the manufacturing process for the target of traceability, internal control, production flow control, and merchandise quality validation are anticipated to fuel the market demand. These markings done through these machines, especially fiber laser machines, consume less time and do not fade, even with continuous exposure to heat and harsh chemicals. Hence, growing demand for such machines in the electronics and defense industries is further anticipated to bolster the market growth over the forecast period.

Increasing number of stringent government regulations and guidelines

The increasing number of stringent government regulations and guidelines for markings on surgical and medical equipment to improve their traceability is also projected to propel the market demand globally. On the other hand, high demand has been observed for personalized leather products, including leather jewelry, purses, and handbags, with customizations such as monogrammed initials and names. Hence, the market demand from such industries is projected to propel the growth of engraving technologies such as laser marking systems in the forecast period. However, High cost of laser engraving machines lowers its adoption in small and medium scale industries, might be hampering the growth of the market.

The global laser engraving machine market is segmented based on product, end user, and region.

On the basis of product, the global laser engraving machine market is segmented into CO2 laser engraving machine, fiber laser engraving machine, diode laser engraving machine, and Nd:YAG laser engraving machine. Based on end user, the target market is segmented into advertising decoration, printing & packaging, leather & apparel, model making, arts & crafts, and others.

Regional Insights:

On region the global Laser Engraving Machine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia- Pacific region dominated the market and is expected to expand over the forecast period. This is attributed due to adoption of enhanced manufacturing techniques in the Chinese machine tools industry and the flourishing aerospace and military industry in the region. Moreover, The Europe market has a significant growth rate owing to the dominance of automotive and automotive component manufacturers in the countries such as Germany, Europe, Italy, and France. For instance, In December 2018, the government of the U.K. agreed to invest approximately USD 335 million in the Future Flight Challenge to support the advancement in aerospace technology.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global laser engraving machine market report based on product, end user, and region.

Global Laser Engraving Machine Market, By Product:

• CO2 Laser Engraving Machine
• Fiber Laser Engraving Machine
• Diode Laser Engraving Machine
• Nd:YAG Laser Engraving Machine

Global Laser Engraving Machine Market, By End User:

• Advertising Decoration
• Printing & Packaging
• Leather & Apparel
• Model Making
• Arts & Crafts
• Others

Global Laser Engraving Machine Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the global laser engraving machine market includes Han's Laser Technology Industry Group Co., Ltd, Telesis Technologies, Inc., Videojet Technologies, Inc., Trotec Laser GmbH, Epilog Laser, TYKMA Electrox, Inc., MECCO, LaserStar Technologies Corporation, Gravotech Marking, and Sea Force Co., Ltd. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, in May 2019, TYKMA Electrox announced collaboration with Cerakote, a provider of thin-film ceramic coating for several applications. The partnership was aimed at providing advanced imaging on products with Cerakote coatings by blending it with the former’s laser marking abilities on a variety of 3D objects.

• Han's Laser Technology Industry Group Co., Ltd
• Telesis Technologies, Inc.
• Videojet Technologies, Inc.
• Trotec Laser GmbH
• Epilog Laser
• TYKMA Electrox, Inc.
• MECCO
• LaserStar Technologies Corporation
• Gravotech Marking
• Sea Force Co., Ltd.