Global Laser Marking Market to Grow with a CAGR of 5.6% During 2021-2030; Market to Grow on Account of Increasing Need Amongst Industries for Tracking and Tracing of Products
Kenneth Research published a report titled “Laser Marking Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global laser marking market in terms of market segmentation by laser type, type, offering, application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global laser marking market is anticipated to grow with a CAGR of 5.6% over the forecast period, i.e., 2021 – 2030. The market is segmented by laser type into CO2 laser, diode laser, fiber laser, and solid state laser, out of which, the fiber laser segment is anticipated to garner the largest revenue of USD 672.0 Million by the end of 2030. Moreover, in the year 2020, the segment registered a revenue of USD 363.9 Million.
The global laser marking market is estimated to garner a revenue of USD 1115.0 Million by the end of 2030, up from a revenue of USD 651.3 Million in the year 2020. The surge in the number of industries worldwide, and the need to track and trace their products or the components required during the manufacturing process, are some of the major factors anticipated to drive the market growth. Moreover, the numerous benefits associated with the use of laser marking is also expected to boost the market growth in the coming years.
Geographically, the global laser marking market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Out of these, the market in the Asia Pacific region is anticipated to garner the largest revenue of USD 494.3 Million by the end of 2030. Moreover, in the year 2020, the market in the region generated a revenue of USD 270.3 Million in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Production of Manufacturing Industries Worldwide to Drive the Market Growth
The value added by the manufacturing industry (in current US$) increased from USD 9.333 Trillion in the year 2009 to USD 13.47 Trillion in the year 2020, according to the statistics by the World Bank.
With the growing value added by the manufacturing industries worldwide, and the growing production of the manufacturing industries, the need for tracking and tracing of the various components used during the manufacturing process as well as the final products, is increasing at a significant pace. As a result, the adoption of laser markers, which utilizes 2D data matrix codes, 1D barcodes, and serial numbers for mapping the products, are used widely in these industries, which is anticipated to drive the growth of the market during the forecast period.
However, the high deployment and maintenance cost is expected to operate as key restraint to the growth of global laser marking market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global laser marking market which includes company profiling of Coherent, Inc., Han’s Laser Technology Industry Group Co., Ltd., TRUMPF Group, KEYENCE CORPORATION, Gravotech, Inc., JENOPTIK AG, Epilog Corporation, 600 Group PLC, Mecco, LaserStar Technologies Corporation, Telesis Technologies, Inc., IPG Photonics Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global laser marking market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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