Laser Marking Market Worth $4.1 Billion by 2027 – Exclusive

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Chicago, Sept. 22, 2022 (GLOBE NEWSWIRE) — The laser marking market is estimated to grow from USD 2.9 billion in 2022 to USD 4.1 billion by 2027; it is expected to grow at a CAGR of 7.2% from 2022 to 2027, according to a new report from MarketsandMarkets™. The growth of the laser marking market can be attributed to the superior performance of laser markers over traditional material marking techniques, the increasing adoption of laser markers across various industries for part traceability and identification, and the growing adoption of smart manufacturing techniques.

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The hardware segment will hold the largest share of the laser marking market during the forecast period.

The hardware segment accounted for the largest share of the laser marking market in 2021, and this trend is expected to continue during the forecast period. The high hardware requirement in several types of laser marking systems has contributed to the leading position of this segment, in terms of market size. Recent advancements in laser marking hardware solutions include the launch of new products by key players in the laser marking market. In May 2022, Gravotech launched the LW2 laser marking station suitable for identification plates, tools, electronic and electrical components, automotive parts, medical instruments and permanent markings.

Laser Marking for Packaging Industry Market is Expected to Grow at the Highest CAGR Over the Forecast Period

The laser marking market for packaging industry is expected to grow at the highest CAGR during the forecast period. Laser markers are used to display variable data, such as expiration dates and lot and serial numbers, as product labels in most packaging companies. In the packaging industry, CO2 lasers are widely used for marking applications. Laser marking is used for different packaging solutions, such as food products and PCBs.

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The laser marking market in Europe is expected to hold the second largest size during the forecast period.

The laser marking market in Europe is expected to hold the second largest size during the forecast period. Germany, France, and the United Kingdom are the major contributors to the growth of the European laser marking market. The region has a strong industrial base and is globally recognized for its outstanding engineering capabilities, quality workforce and R&D activities, which are also key drivers for the growth of the laser marking market in Europe. In addition, all medical devices in Europe registered within the European Union must obtain the CE mark. With a CE mark, companies can market and sell their products simultaneously in all EU member states, be it Germany, France or Croatia. This is expected to drive the laser marking market in Europe over the forecast period.

The major players involved in the manufacturing of laser marking systems are Coherent, Inc. (USA), TRUMPF (Germany), Han’s Laser Technology Co., Ltd. (China), Gravotech Marking (France), IPG Photonics Corp. (USA), 600 Group (UK), Danaher Corp. (US), Novanta Inc. (US), KEYENCE Corp. (Japan), Huagong Tech Co., Ltd. (China), Trotec Laser (Austria), Epilog Laser (USA), and MECCO (USA), among others.

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