Laser Marking Market - Growth, Trends, and Forecasts (2023 - 2028)

The Global Laser Marking Market is Segmented by Equipment (Fiber Laser, CO2 Laser, Solid State Laser, and Other Equipment), Offering (Hardware and Software), End-user Industry (Healthcare, Automotive, Electronics, Machine Tools, Packaging, and Other End-user Industries), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and values in (USD million) for the above segments during the forecast years.

Laser Marking Industry Overview

Laser Marking Market Size
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.8 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Laser Marking Market Analysis

The Global Laser Marking Market is expected to grow at a CAGR of 5.8% during the forecast period. The market is driven by the increasing applications in various End-User Industries and the growth of Investment in R&D, leading to better Functionality of Laser markers.

Laser marking is often used to facilitate traceability, quality control, and process improvement during the manufacturing process of equipment. By identifying each part at the start of the production line, barcode readers can identify the components at every manufacturing step. The prominent industries that use marking solutions are the automotive, primary metals (including aluminum, steel, zinc, lead, and copper), extrusion, manufacturing, and converting industries. Typically performed with a pulsed, fiber, green, continuous wave, or UV laser, the laser marking encompasses a wide range of applications. A few common types of laser marking applications are annealing, carbon migration, foaming, and coloration. COVID-19 forced businesses to adhere to strict requirements meant to ensure the safety of their employees and customers alike. As a result, the need for automation witnessed a sudden spike. This can be observed as a notable trend in the foreseeable future.

Also, unlike other non-permanent marking processes, such as printing or labeling, laser marking uses no consumables and requires less maintenance. As global manufacturers are facing increasing pressure from their clients in the automotive industry (primarily to provide part-to-part traceability), there has been an increase in the availability of laser markers that enables direct part marking to help manufacturers trace every product from early production steps to the assembly of final products. Technological advancements in industries, such as consumer electronics, automobiles, healthcare, and many more, created the need for a small and robust electronic device. Such portable electronic equipment demands precise dimensional accuracy for components like displays. This is expected to augment the demand for the fabrication materials needed to develop high-performance semiconductor components. 

The COVID-19 pandemic and associated lockdown restrictions worldwide affected industrial activities that witnessed a disruption in manufacturing operations and supply chains around the globe. Some other effects of lockdown include a lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that caused inflation in the cost of production for the final product, and shipping problems.

Laser Marking Industry Segments

The scope of the study focuses on the market analysis of Laser Marking hardware and software sold around the globe, and market sizing encompasses the revenue generated by various market players. The study also tracks the key market parameters, underlying growth factors, and major vendors/companies operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of COVID-19 on the ecosystem. 

Further, The scope of the report encompasses market sizing and forecast for segmentation by Equipment (Fiber Laser, CO2 Laser, Solid State Laser, and Other Equipment), Offering (Hardware and Software), End-user Industry (Healthcare, Automotive, Electronics, Machine Tools, Packaging, and Other End-user Industries), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).​ 

For each segment, the market sizing and forecasts have been provided on the basis of value (in USD million) and volume (in metric tons).

By Equipment
Fiber Laser
CO2 Laser
Solid State Laser
Other Equipment
By Offering
Hardware
Software
By End-user Industry
Healthcare
Automotive
Electronics
Machine Tools
Packaging
Other End-user Industries
By Geography
North America
Europe
Asia-Pacific
Rest of the World

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Laser Marking Market Trends

This section covers the major market trends shaping the Laser Marking Market according to our research experts:

Machine Tools Segment is Expected to have a Significant Market Share

  • Laser Marking has extensive application in machine tools as it enables the detection of permanent alphanumerical details featuring the brand name, batch number, and other details. Further, it enables the engraving of batch numbers, manufacturer codes, 1D & 2D bar codes, logos, designs, manufacturer codes, dates of manufacturing, product-related information, and other details that facilitate the identification and security of the products.
  • The market has been further augmented by the introduction of turnkey solutions by players like Laserax, which launched its new inline laser marketing and laser cleaning solutions that will enable manufacturers to track products from production to the assembly and packaging process.
  • Further, the introduction of easy-to-use, self-contained, table-top laser systems for vector and grayscale marking machine tools is expected to further augment market growth. Coherent Inc. has introduced a machine that has been designed for the engraving of machine tools.
  • Vendors in the market are launching new products at regular intervals to remain competitive. For instance, in August 2022, Atkore Calbrite introduced a custom marking process using fiber laser technology to effectively apply product information and labeling to its stainless-steel conduit and fittings.
Laser Marking Market - Annual Consumption Value of the Machine Tool Industry

Asia - Pacific is Expected to be the Fastest Growing Market

  • The Laser Marking market has witnessed significant growth in the Asia-Pacific region due to augmented demand for Laser Marking in the healthcare, automotive, and electronics industries. This region is expected to grow considerably during the forecast period due to technological advancements, especially in Japan and China.
  • The Asia-Pacific region houses significantly active players in the market, like Han's Laser Technology Industry Group. Also, various players have invested in driving their growth and development via partnerships and expansion strategies, thus leading the Asia-Pacific region to witness a significant growth rate in the market.
  • The market has witnessed various research and development activities to achieve stable and high-quality results. For instance, FarsoonTechnologies, a Chinese manufacturer of industrial-grade plastic and metal laser melting systems, developed an additive manufacturing process capable of printing structures made entirely from copper using standard fiber lasers. The firm has also displayed a part made with the process at TCT Asia, one of the largest industrial additive manufacturing shows in Asia-Pacific.
  • Further, the Association of Southeast Asian Nations (ASEAN) countries, including Malaysia, Indonesia, the Philippines, Thailand, Singapore, Brunei, Cambodia, Myanmar, Laos, and Vietnam, is witnessing a significant increase in investment in the manufacturing of medical devices. These investments are expected to boost the adoption of Laser marking equipment in manufacturing. Though the investments have slowed down in recent years, the region is expected to benefit from the US-China Trade war.
  • According to a recently released report by the Society of Indian Automobile Manufacturers (SIAM), India exported more than 5,617,000 units of automobiles in 2021. This number is expected to increase substantially in the future, creating sustainable opportunities for the Laser marking equipment market.
Laser Marking Market - Growth Rate

Laser Marking Market Competitor Analysis

The global laser marking equipment market landscape is highly competitive. The capital-intensive market has many large and medium-sized vendors vouching for market share. In July 2022, Hitachi Industrial Equipment Systems Co. Ltd announced the acquisition of Telesis Technologies Inc., a US-based manufacturer of marking equipment using laser technologies. The acquisition will help Hitachi in expanding its marking equipment business and operations in North America. 

In December 2021, the UK-based Needham Group chose P.P. Control & Automation to build its N-Lase laser systems. According to the partners, the agreement will establish one of the UK's premier laser marking authorities. Up to 10 laser systems will be constructed monthly at a dedicated production cell at PP C&A's CheslynHay site under the initial arrangement, with the possibility of monthly volumes rising to 20 units once sales approach the EUR 10 million level.

Laser Marking Market Top Players

  1. Coherent Inc.

  2. IPG Photonics Corporation

  3. TRUMPF Group

  4. Mecco Partners LLC

  5. Gravotech Group

*Disclaimer: Major Players sorted in no particular order

Laser Marking Market - Market Concentration.png

Laser Marking Market Recent Developments

  • August 2022: Foba announced the introduction of its two new laser marking systems at the International Manufacturing Technology show in Chicago. Two M-series marking systems, Foba M1000 and M2000, and Foba Titus, a laser marking head for line integration, especially in restricted spaces, will be available for laser marking live demonstrations at IMTS in Chicago.
  • April 2022: Hitachi Industrial Equipment Systems Co. Ltd announced the acquisition of Photon Energy GmbH, a German laser system manufacturer for marking. Hitachi Industrial Equipment Systems will strengthen its competitiveness in Coding and Marking by merging its strengths with Photon Energy Laser technological expertise.

Laser Marking Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porters Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Applications in Various End-User Industries

      2. 5.1.2 Increased Investment in R&D leading to better Functionality

    2. 5.2 Market Challenges

      1. 5.2.1 High Cost of Deployment

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Equipment

      1. 6.1.1 Fiber Laser

      2. 6.1.2 CO2 Laser

      3. 6.1.3 Solid State Laser

      4. 6.1.4 Other Equipment

    2. 6.2 By Offering

      1. 6.2.1 Hardware

      2. 6.2.2 Software

    3. 6.3 By End-user Industry

      1. 6.3.1 Healthcare

      2. 6.3.2 Automotive

      3. 6.3.3 Electronics

      4. 6.3.4 Machine Tools

      5. 6.3.5 Packaging

      6. 6.3.6 Other End-user Industries

    4. 6.4 By Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia-Pacific

      4. 6.4.4 Rest of the World

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Coherent Inc.

      2. 7.1.2 IPG Photonics Corporation

      3. 7.1.3 TRUMPF Group

      4. 7.1.4 Mecco Partners LLC

      5. 7.1.5 Gravotech Group

      6. 7.1.6 Keyence Corporation

      7. 7.1.7 Novanta Inc.

      8. 7.1.8 Epilog Corporation

      9. 7.1.9 Videojet Technologies Inc

      10. 7.1.10 Han's Laser Group

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

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Laser Marking Market Research FAQs

The Laser Marking Market is studied from 2018 - 2028.

The Laser Marking Market is growing at a CAGR of 5.8% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Coherent Inc., IPG Photonics Corporation, TRUMPF Group, Mecco Partners LLC, Gravotech Group are the major companies operating in Laser Marking Market.

Laser Marking Industry Reports

In-depth industry statistics and market share insights of the Laser Marking sector for 2020, 2021, and 2022. The Laser Marking research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Laser Marking report PDF.

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