Laser Marking Market: An Overview of Growth Prospects


Posted February 22, 2023 by avinashgogawale14

Laser Marking Market is estimated to expand from USD 2.9 billion in 2022 to USD 4.1 billion by 2027, indicating a CAGR of 7.2%

 
The Laser Marking Market is expected to grow rapidly in the coming years, with a market value of USD 4.1 billion estimated by 2027, up from USD 2.9 billion in 2022, at a compound annual growth rate (CAGR) of 7.2%. The growing adoption of laser marking across various end-user verticals, such as automotive, medical, packaging, and electronics, is driving the market. When compared to traditional techniques, laser marking provides a more efficient, versatile, and reliable solution for material marking, which is fueling its demand in a variety of industries.

Key Players in the Laser Marking Market comprise companies operating at different stages of the market’s value chain. The key market players include Coherent (US), Han’s Laser (China), Trumpf (Germany), Gravotech (France), Jenoptik (US), Epilog Laser (US), 600 Group (UK), Mecco (US), Laserstar (US), and Novanta (US). Organic growth strategies, such as product launches, are the focus of many of the above players.

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Top 2 Players in the Laser Marking Market:

In 2018, Coherent, a US-based company, emerged as the market leader in the global laser marking market. The company's strong position is due to its diverse product portfolio, significant R&D investments, significant market penetration, and extensive global presence. Coherent's growth strategy includes investing in new technologies, expanding its product portfolio, and entering new markets. With subsidiaries all over the world, the company has a strong presence in the Americas, Europe, the Middle East and Africa, and Asia Pacific. Coherent has been investing in research and development in order to acquire new technologies and improve its cost structure by streamlining its manufacturing processes. The company is concentrating on acquiring other businesses, expanding its product portfolio, and expanding its customer base. Coherent acquired O.R. Lasertechnologie, a German laser technology provider, in March 2018 to expand its laser technology and laser marking product portfolio. Coherent is well-positioned to maintain its leadership in the global laser marking market, thanks to its strong market position and strategic growth initiatives.

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Han's Laser, a Chinese firm, ranks second in the global laser marking market. The company is expanding its product portfolio and reducing manufacturing costs to drive growth. Fiber laser machines, CO2 laser machines, UV laser machines, PCB marking machines, and 3D laser marking systems are among the laser marking solutions offered by Han's Laser. The company intends to strengthen its market position by offering customised solutions and high-quality products, all while maximising resource utilisation and lowering manufacturing costs. Han's Laser has a strong brand identity and a significant presence in Asia-Pacific and other global markets, which has helped the company more than double its revenue from USD 1.0 billion in FY16 to USD 2.0 billion in FY17. Han's Laser is well-positioned to increase its market share in the global laser marking market by leveraging its strong market position and brand recognition.

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https://www.prnewswire.com/news-releases/laser-marking-market-worth-4-1-billion-by-2027--exclusive-report-by-marketsandmarkets-301624067.html

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Last Updated February 22, 2023