The laser marking market is estimated to grow from USD 2.9 billion in 2022 to reach USD 4.1 billion by 2027; it is expected to grow at a CAGR of 7.2% from 2022 to 2027. The growth of the laser marking market can be attributed to higher performance of laser markers over traditional material marking techniques. Key players involved in the manufacturing of laser marking systems are Coherent, Inc. (US), TRUMPF (Germany), Hanís 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. Most of the leading companies have adopted product launches and acquisitions as key strategies to boost their revenues in the laser marking market.
Top Market Players:
Coherent, Inc. is a world-leading manufacturer of photonics solutions. Coherent has a strong product portfolio comprising several types of laser marking systems. The company consistently focuses on R&D, with average spending of more than 8.5% of its revenue in the last three years. The company markets its products through a direct sales force in the US and international markets, including France, Canada, Germany, Italy, Finland, Japan, Singapore, Spain, China, South Korea, the Netherlands, Taiwan, and the UK. It operates manufacturing facilities in California, Oregon, Massachusetts, New Jersey, Connecticut, Arizona, Michigan, New Hampshire, and Florida, US; Germany; Sweden; Switzerland; South Korea; Scotland; Finland; China; Singapore; and Malaysia. To grow in the laser marking market, the company has adopted a mix of organic growth strategies such as product launches and expansions.
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TRUMPF is a high-tech company offering manufacturing solutions in the fields of machine tools and laser technology. TRUMPF is a well-known name in the global laser marking market. In FY 2021, it invested USD 452 million in R&D to support robust organic growth. Additionally, the company focuses on increasing its footprint across the globe. With over 80 subsidiaries, the TRUMPF Group is represented in nearly every European country, North America, South America, and Asia Pacific. The company has production facilities in Germany, France, the UK, Italy, Austria, Switzerland, Poland, the Czech Republic, the US, Mexico, and China. To grow in the laser marking market, TRUMPF has majorly adopted the inorganic growth strategy of acquisition.
Hanís Laser Technology Co., Ltd. (Hanís Laser) manufactures laser equipment. Hanís Laser has a strong product portfolio comprising several laser marking solutions, including fiber laser, CO2 laser, UV laser, and PCB and IC marking machines. Hanís Laser provides more than 100 models in laser marking applications. The company has a strong brand identity. The companyís revenues have increased from USD 1,365 million in 2019 to USD 2,515 million in 2021. It has strong research abilities. It has got more than 300 patents and dozens of software copyrights. Also, Hanís Laser is one of the few companies that master UV Laser Patent technology worldwide. To grow in the laser marking market, Hanís Laser aims to strengthen its market presence by providing exclusive customized laser marking solutions and quality products that utilize resources optimally and minimize manufacturing costs.
Laser Marking Market by Laser Type (Fiber Laser, Diode Laser, Solid-state Laser, CO2 Laser, UV Laser), Industry (Machine Tools, Semiconductor & Electronics, Automotive), Offering, Application, Method, Material and Region - Global Forecast to 2027
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