According to Research And Markets, the global laser marking machines market is expected to reach USD 5.03 billion by 2028, at a CAGR of 8.0% from 2020-2028. Increasing adoption of advanced marking technologies in many industries, such as machine tools and aerospace, and growing demand for precision marking of manufactured products to improve their traceability are factors driving the market growth. The widespread adoption of marking technology in machine tools and equipment (especially in the automotive, semiconductor, and electronics industries) is expected to further provide momentum to the market demand during the forecast period. Regarding the product category, the fiber laser marking machine segment will continue to dominate the market with a CAGR growth of 9.8% during the forecast period. This is attributed to its extensive use in metal products, thereby finding a significant share in the automotive, aerospace, and machine tool industries.
Meanwhile, increasing focus on factory automation to increase productivity, save energy, and reduce downtime is expected to drive the market demand for laser marking. Moreover, emerging economies such as India are the significant markets expected to witness the mass production trend in the coming years. Mass production is possible with the help of automation technology and fast assembly lines, resulting in high demand for automated laser marking machines. For instance, the need for smartphones in India has forced manufacturers to start producing or assembling smartphone components locally.
On the other hand, safety and health issues associated with the use of laser marking technology are acting as a restraint for the market. The prominent safety issues related to laser marking machines are burns and fumes. For instance, CO2 laser engraving and marking machine operators are often subjected to laser burns. Therefore, precautions must be taken to ensure a safe and healthy operating environment, which can increase operating costs. Thus, high initial investment, safety and health-related issues, and high operating costs associated with using laser marking machines may hamper the market growth during the forecast period.
