Laser Engraving Machine Market: Overview
Laser engraving machine are used to engrave or render permanent marks on various surface forms. The use of laser marking machines is pushed through several industries and is highly suitable and reliable in terms of speed and reliability compared to other marking methods, such as dot peen marking machines. Industry 4.0 has also had an impact on the global demand for laser marking machines. The growing demand for precision, high speed and automation from a variety of industries, such as food and beverage, automotive and packaging, is the main driving force behind the growth of the industry.
Laser Engraving Machine Market: Dynamics
The area is chosen to coordinate what the laser will follow up on. Materials that can be carved are natural materials, such as stone, iron, wood, plastic, glass ornaments, etc. Laser engraving machine is a significant tool for inventory control & tracking, part identification with loss prevention as Laser engraving machine carves are perfect easily trackable over the products.
The laser engraving market is about to establish new market growth for apparel shops, digital & retail signage, fabric shops, gadgets & sports equipment’s like trophy, medals, etc., metal works, wood carving antiques, jewelry markings are the major contributors to encourage this market growth of laser engraving machines.
Laser Engraving Machine Market: Segmentation
Globally, the Laser Engraving Machine Market is segmented into Material type, product type, and end use.
By Product Type, the global Laser Engraving Machine Market has been segmented as follows:
- CO2 Laser Engraving Machine
- Fiber Laser Engraving Machine
- Diode Laser Engraving Machine
- Nd:YAG Laser Engraving Machine
By End-Use Industries, the global Laser Engraving Machine Market has been segmented as follows:
- Advertising Decoration
- Printing & Packaging
- Leather & Apparel
- Model Making
- Arts & Crafts
Laser Engraving Machine Market: Regional Analysis
North America and Europe are expected to see substantial growth in the demand for laser engraving machines over the forecast period. In addition, the U.S. and Canada are the main countries that are growing demand for laser engraving machines in the North American region due to strict government regulations for medical engraving equipment, surgical equipment and others. The involvement of major main vendors, such as IPG Photonics Corporation, in the laser engraving machine is also expected to fuel the growth of the North American area laser engraving machine market by the end of 2026. Aside from this, Western European countries such as Germany, the U.K. Others are seeing an increase in demand for laser engraving machines due to the increasing automotive industry.
APAC is expected to account for the largest market share of laser marking during the forecast period. China, India, South Korea and Japan are the main contributors to the growth of the APAC industry. APAC was ahead in terms of the adoption of laser marking products and solutions relative to other areas. The region's large population, rising R&D spending and growing manufacturing and electronics sectors are expected to drive market growth.
Laser Engraving Machine Market: Key Players
- Universal Laser Systems, Inc.
- Gravotech Inc.
- Trotec Laser GmbH
- LaserStar Technologies Corporation
- Wisely Laser Machinery Limited
- Epilog Laser
- Sintec Optronics Pte Ltd.
- Kern Laser Systems
- Vytek Laser Systems
COVID-19 impact on Laser Engraving Machine Market
Actually, China produces about 20% of intermediate goods traded in the global supply chain, and Chinese products form a vital part of the global value chain of the laser engraving machinery industry. For this reason, the disruption caused by COVID-19 in China alone is expected to reverberate on the economy of many other countries around the world.
In the European Union, the laser engraving machinery industry is forecast to lose around US$ 1.2 billion from a 2% decline in China's exports of intermediate inputs. The European chemical and automotive industry is also expected to have similar impacts which will affect the laser engraving machine market. There have been some important developments since late March. Most significantly, the decline in use seems to have leveled off, for the time being largely due to the re-tooling of laser engraving machinery and response of manufacturers to the demand for the required life-saving equipment. A relative decrease of 17 per cent, or 5 per cent, in utilization during the month of March, from 30 per cent to 25 per cent. It appears as if a stabilization has taken place since 28 March.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.