Pune, India, March 30, 2023 (GLOBE NEWSWIRE) -- The global laser engraving machine market size is forecast to grow remarkably attributed to the advent of customized products in the regional and international market and its increasing popularity worldwide. Laser engraving machines play an essential role in allowing industries to get personalized information engraved on the surface of the manufactured products such as stone, plastic, glass, metal, wood, and others.
Report Highlights
- A detailed analysis of the market with prime growth trajectories such as factors promoting, restricting, challenging, and creating opportunities for the market
- Table of segmentation based on factors such as type, industry, and regional boundaries
- Competitive landscape, list of players and the strategies adopted by them to gain a strong foothold in the market
- Current laser engraving machine market trends, key industry developments, and other interesting insights
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Market Drivers
Rise in Demand for Engraved Automation Manufacturing Products to Boost Market
The rise in the adoption of laser marking throughout various end user products is a vital laser engraved machine market growth driver. This, coupled with the advent of enhanced performance provided by the latest laser engraving equipment as compared to the traditional ones, are likely to help the market gain impetus in the coming years. On the contrary, factors such as high deployment cost of these machines may cause hindrance to the overall market. Nevertheless, the rising demand for customized engraving and marking products is likely to create lucrative opportunities for the market in the future. Furthermore, the surge in automation throughout all manufacturing industries worldwide are expected to increase the overall laser engraving machines market size in the forthcoming years.
Regional Segmentation:
Asia Pacific to Emerge Dominant Attributed to Increasing Demand from Automobile Industries
Geographically, Asia Pacific is holding the largest laser engraved machines market share. This is owing to the increasing demand from various sectors such as manufacturing and packaging industries, electronics, and automobile industries in developing nations such as China and India. On the other side, stringent regulations imposed on the production of medical equipment and surgical devices in countries such as Canada and the U.S. are likely to aid in the expansion of the market in North America.
Europe, on the other hand, the obligation imposed on European companies for permanent and clear marking on consumer goods is likely to help increase the demand for these machines in countries such as Germany, Italy, and France, among others. This is likely to help Europe witness significant growth in the forecast duration.
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Players Focusing on Geographical Expansion to Gain Competitive Edge in Market
Major laser engraving machines market manufacturers are emphasizing on geographical expansion for gaining a competitive edge in the overall market. They are also setting up new bases for attracting high laser engraving machines market revenue in the upcoming years. Besides this, they are also adopting strategies such as mergers and acquisitions, massive investments for product launches, expansion of product portfolio, development of better machines capable of printing in both coated and non-coated surfaces, and joint ventures.
List of Vendors Operating in the Laser Engraving Machines Market include:
- Eurolaser GmbH
- Vytek Laser Systems
- Universal Laser Systems Inc.
- LaserStar Technologies Corporation
- Kern Laser Systems
- Coherent Inc.
- Gravotech Marking
- Sintec Optronics Pte Ltd
- Trotec Laser GmbH
- Wisely Laser Machinery Limited
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Key Industry Developments of Laser Engraving Machines Market Include:
May 2018 – Hunst Laser Technology is gaining popularity on account of its features such as high precision, non-contact, and high-speed processing without causing damage to the surface.
May 2018 – USD 27.0 MILLION was invested by Trumpf (Germany) on its Chinese Division TRUMPF China and its Subsidiary JFY for the expansion of production capacity.
January 2018 – An application center was opened in the Silicon Valley for enhancing the proximity of consumers and leverage high growth rate in the U.S., by providing local support.
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