The global laser engraving machine market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2028, exhibiting a growth rate (CAGR) of 8.06% during 2023-2028. The increasing automation across various industrial verticals, the rising consumer demand for customized products, and ongoing product innovation represent some of the key factors driving the market.
A laser engraving machine is a sophisticated tool used to carve designs or text onto a variety of materials such as metal, wood, acrylic, glass, and plastic. It employs a high-powered laser beam to remove material from the object's surface, leaving a permanent and precise mark. It can create intricate designs with high accuracy, making it ideal for creating complex patterns, logos, and even photographic images. Some of the common types of laser engraving machines available in the market include CO2, fiber, and diode. Amongst these, CO2 laser engraving machines are ideal for engraving on non-metallic materials such as wood, acrylic, and plastic, while fiber and diode lasers are better suited for engraving on metal. Laser engraving machines find a wide range of applications, from engraving personalized messages on jewelry and gift items to creating intricate designs on machinery and industrial equipment.
Laser Engraving Machine Market Trends:
The expanding trends of high speed and automation in manufacturing processes across various industry verticals represent one of the key factors driving the market growth. Moreover, the widespread product utilization across the automotive and electronics sector due to the increasing focus on the quality and customization of components is positively impacting the market growth. Concurrent with this, the surging need to reduce or eliminate consumables from packaging and labeling processes, such as inks, adhesives, paper, and fluids, and the escalating popularity and demand of personalized products such as gifts, jewelry, and other items are contributing to the market growth. In addition to this, innovative technological advancements in laser engraving machines, such as the development of more efficient and cost-effective variants, are presenting remunerative growth opportunities for the market. Furthermore, the expanding product adoption across the medical, aerospace, print and advertising, and jewelry designing sectors is acting as another significant growth-inducing factor. Other factors such as growing urbanization and industrialization, rising expenditure capacities of consumers, growing demand for customized and personalized products, and the increasing population of high-net-worth individuals are creating a favorable outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global laser engraving machine market, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product type and end user.
Product Type Insights:
- CO2 Laser Engraving Machine
- Fiber Laser Engraving Machine
- Diode Laser Engraving Machine
- Nd: YAG Laser Engraving Machine
The report has provided a detailed breakup and analysis of the laser engraving machine market based on the product type. This includes CO2, fiber, diode, and Nd: YAG laser engraving machines. According to the report, fiber laser engraving machine represented the largest segment.
End User Insights:
- Advertising Decoration
- Printing and Packaging
- Leather and Apparel
- Model Making
- Arts and Crafts
A detailed breakup and analysis of the laser engraving machine market based on the end user has also been provided in the report. This includes advertising decoration, printing and packaging, leather and apparel, model making, arts and crafts, and others. According to the report, advertising decoration accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for laser engraving machine. Some of the factors driving the North America laser engraving machine market included the growing demand for personalized products, escalating product utilization across the print and advertising sector, and ongoing product advancements.
The report has also provided a comprehensive analysis of the competitive landscape in the global laser engraving machine market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Epilog Laser, GCC, Gravotech Inc., Kern Laser Systems, LaserStar Technologies Corporation, Sintec Optronics Pte Ltd, Trotec Laser GmbH (TroGroup GmbH), Universal Laser Systems Inc., Vytek Laser Systems, Wisely Laser Machinery Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Product Type
- End User
|Product Types Covered
||CO2 Laser Engraving Machine, Fiber Laser Engraving Machine, Diode Laser Engraving Machine, Nd: YAG Laser Engraving Machine
|End Users Covered
||Advertising Decoration, Printing and Packaging, Leather and Apparel, Model Making, Arts and Crafts, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Epilog Laser, GCC, Gravotech Inc., Kern Laser Systems, LaserStar Technologies Corporation, Sintec Optronics Pte Ltd, Trotec Laser GmbH (TroGroup GmbH), Universal Laser Systems Inc., Vytek Laser Systems, Wisely Laser Machinery Limited, etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global laser engraving machine market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global laser engraving machine market?
- What is the impact of each driver, restraint, and opportunity on the global laser engraving machine market?
- What are the key regional markets?
- Which countries represent the most attractive laser engraving machine market?
- What is the breakup of the market based on the product type?
- Which is the most attractive product type in the laser engraving machine market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the laser engraving machine market?
- What is the competitive structure of the global laser engraving machine market?
- Who are the key players/companies in the global laser engraving machine market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the laser engraving machine market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global laser engraving machine market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the laser engraving machine industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.