The Laser Marking Market is predicted to expand significantly, rising from USD 2.9 billion in 2022 to USD 4.1 billion by 2027, representing a strong compound yearly growth rate (CAGR) of 7.2% throughout the forecast period.

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This growth trajectory is influenced by a number of variables, including the rising need for laser marking in a variety of sectors, including machine tools, semiconductors and electronics, and the automobile industry. The expansion of laser types such fibre lasers, diode lasers, solid-state lasers, CO2 lasers, and UV lasers, which enables a wide range of applications and provides flexibility and precision in marking different materials, is one of the key determinants.

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Due to laser markers' improved performance when compared to conventional material marking techniques, the laser marking market is expanding noticeably. For traceability and part identification purposes, laser markers are becoming more and more popular across a variety of industries due to their improved precision, speed, and versatility. The industry shift towards advanced, automated, and data-driven production procedures is highlighted by the growing deployment of laser markers in harmony with smart manufacturing practises, which further fuels demand. These elements work together to support the laser marking market's upward trend and hopeful future.

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

Throughout the forecast period, it is predicted that the hardware sector will continue to dominate the laser marking market. It had the greatest share in 2021, and it is anticipated that this trend would continue. This market category dominates in terms of market size due to the considerable need for hardware components in various kinds of laser marking systems. Its leading position is further enhanced by ongoing improvements in laser marking hardware, including recent product releases by important market participants. The launch of Gravotech's LW2 laser marking workstation in May 2022, which is intended to serve identification plates, tools, electronic and electrical components, automotive parts, medical equipment, and permanent marks, serves as an instructive example.

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 grow at the greatest compound annual growth rate (CAGR) throughout the course of the forecast period. This increase can be ascribed to the increasing use of laser markers for displaying variable information on product labels, such as expiration dates, batch numbers, and serial numbers. Particularly CO2 lasers are widely used for marking purposes in the packaging industry. Laser marking is a flexible solution used in a variety of packaging applications, from the packaging of food products to that of printed circuit boards (PCBs), illustrating the industry's extensive applicability and growing potential.

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

The European laser marking market is anticipated to grow to the second-largest size over the forecast period. Significant donations from important nations like Germany, France, and the UK are mostly responsible for this. Europe has a strong industrial base and is well-known around the world for its great engineering know-how, trained workforce, and significant research and development efforts. These factors are crucial in driving the expansion of the laser marking market in the area. Furthermore, the adoption of laser marking systems is prompted by the strict regulatory requirements in Europe, specifically the demand for the CE Mark for all medical devices registered inside the European Union.

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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