The Laser Marking Market is expected to develop significantly, from an anticipated USD 2.9 billion in 2022 to a projected USD 4.1 billion by 2027. This growth trajectory indicates that between 2022 and 2027, the Compound Annual Growth Rate (CAGR) will be a strong 7.2%.

Numerous elements, such as the types of lasers—such as fibre, diode, solid-state, CO2, and UV—influence the dynamics of the market. The automobile industry, semiconductor and electronics, and machine tools are the industries driving this growth. The market reflects the wide range of applications and uses of laser marking technology, with a diverse range of offerings, methods, materials, and geographies included. The increasing use of laser marking solutions across industries is highlighted by this forecast, which is driven by improvements in laser technology and the need for effective, high-precision marking procedures on a global scale.

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Due to laser markers' improved performance over conventional material marking techniques, the laser marking market is expanding significantly. An further factor driving market expansion is the increasing use of laser markers for part identification and traceability across a range of sectors. Laser markers are the go-to option for manufacturers looking for cutting-edge marking solutions because of their increased precision, efficiency, and adaptability. The demand for laser marking technology is also being significantly fueled by the increasing use of smart manufacturing techniques. Laser markers are a crucial tool for attaining traceability, quality control, and efficiency in production processes, and their use by various industries has led to the rise and development of the laser marking market.

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Hardware segment to hold largest share of laser marking market during the forecast period.

Over the course of the forecast period, the hardware segment is expected to continue to dominate the laser marking market and hold the greatest share. This category took first place in 2021, and it is anticipated that this trend will continue. The significant market size of this sector is largely due to the high demand for hardware in different kinds of laser marking systems. Continuous improvements in laser marking hardware solutions, as demonstrated by the introduction of new products by major competitors in the market, emphasise the importance of the hardware sector even more. For instance, Gravotech unveiled the LW2 laser marking workstation in May 2022, serving a variety of uses including tools, medical equipment, automobile parts, identifying plates, and electrical and electronic components.

Laser marking market for packaging industry is expected to grow at the highest CAGR during the forecast period

Over the course of the forecast period, the packaging industry's laser marking market is expected to grow at the highest Compound Annual Growth Rate (CAGR). In this industry, laser markers are essential because they make it easier to show variable data, such as batch and serial numbers, expiration dates, and product labels for a variety of packaging uses. CO2 lasers are especially common in the packaging sector and are used extensively for marking purposes, providing accuracy and effectiveness. Laser marking is useful for a variety of packaging applications, such as marking food products and printed circuit boards (PCBs). This growth trend highlights how important laser marking technology is to improving processes related to identification, labelling, and traceability in the ever-changing packaging business.

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

During the projection period, the European laser marking market is expected to reach its second-largest size, with significant contributions from industrial powerhouses including Germany, France, and the United Kingdom. The area has a strong industrial base and is well-known across the world for its outstanding engineering skills, excellent labour force, and intensive R&D endeavours. These elements are the main forces behind the expansion of the European laser marking business. The market is notably supported by the region's strict rules, which require all medical devices sold within the European Union to get the CE Mark in order to be registered. The CE Mark makes it easier to market and sell products concurrently in all EU member states, which is expected to fuel the laser marking market's projected expansion in Europe over the course of the forecast period.

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

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