The Global Laser Marking Machine market is expected to reach $4.09 billion by 2026 growing at a CAGR of 7.7% during the forecast period.
Rising demand for the print of everlasting alphanumerical code on the product, growth of the machine tool industry and increasing industrial-technological advancement are some of the factors fuelling the market growth. However, high initial investment and lack of adoption of this technology in underdeveloped regions restrict the market growth.
Laser marking is a laser technology where the laser beam is used for marking/engraving a work piece or other product. It has always been an important factor in industrial activities, especially in automobiles and machine tools as they provide permanent alphanumerical details on the product in terms of brand name, batch number and other details. This engraving helps in identification and security of the products. Laser marking machines are generally of three genres. Main components of these machines are the laser, controller, and a surface. Laser marking technique is normally applied on natural materials (like wood, walnut, etc.), plastics, metals, coated metals and stone/glasses.
Based on end user, Machine tools have considerable growth during the forecast period owing to booming industrial manufacturing & processing sector and high demand of mid to high-end machine tools from marine, automobile, aerospace, and other industries. These machines are also used predominantly in semiconductor & electronics industry for silicon wafers and Printed Circuit Boards (PCBs) marking. By Geography, The Asia Pacific is expected to grow at the significant market share during the forecast period owing to the growth of automobile, machine tool, aviation, electronics, manufacturing, and other end-user industries and rising demand of various marking tools.
Post time: Aug-20-2019