The Laser Marking Market is anticipated to rise significantly, from USD 2.9 billion in 2022 to over USD 4.1 billion in 2027. This growth is projected to occur between 2022 and 2027 at a compound annual growth rate (CAGR) of 7.2%. This growing trend is shown by a thorough study from MarketsandMarketsTM, which also emphasises the enormous potential and need for laser marking technologies across numerous industries.

The higher performance that laser markers provide in contrast to more traditional material marking techniques is the main factor driving the growth of the laser marking market. Demand has increased as industries adopt laser markers more frequently for improved component identification and traceability. Furthermore, the adoption of laser markers across numerous industries has been pushed by the rise of smart manufacturing techniques. These elements work together to explain the laser marking market's brisk expansion.

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

Throughout the anticipated period, the hardware sector is expected to continue to dominate the laser marking market. The hardware sector had the greatest share in 2021, and it is expected that this trend would continue. The significant hardware needs for different laser marking systems, which increase the segment's market presence, are to blame for this domination. Notably, improvements in hardware for laser marking, including noteworthy product launches by leading companies, have supported this claim. An illustration of this is Gravotech's May 2022 launch of the LW2 laser marking workstation, which serves a variety of applications including identifying plates, electronics, automotive parts, and medical equipment and so helps to maintain the hardware segment's dominance.

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

The packaging industry's laser marking market is anticipated to expand at the highest Compound Annual Growth Rate (CAGR) over the forecast period. This increase is related to the widespread use of laser markers as integral product labels in most packaging businesses for displaying dynamic data, such as batch numbers, serial numbers, and expiry dates. Due to its effectiveness in numerous marking applications, CO2 lasers have become more well-known within the packaging industry. Laser marking is used in a variety of packaging applications, including those for food goods and printed circuit boards (PCBs), which has propelled the growth of this industry within the laser marking market.

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

The laser marking market in Europe is expected to be significant, holding the second-largest market size over the projection period. The European laser marking market, which is primarily driven by Germany, France, and the UK, benefits from a strong industrial base, recognised engineering capabilities, a competent workforce, and vigorous research and development efforts. These characteristics are crucial in driving the expansion of the laser marking market in the area. The regulatory framework in Europe, in particular, requires that all medical devices get the CE Mark in order to be registered inside the European Union, allowing for simultaneous product marketing and sales across member states. Within the anticipated timeframe, this aspect is anticipated to be a significant driver for the growth of the laser marking market in Europe.

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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