Laser Engraving Machine Market Trend, Share, Growth, Size and Forecast 2030

Laser Engraving Machine Industry Prospective:

The global laser engraving machine market size was worth around USD 2,900.84 million in 2022 and is predicted to grow to around USD 6,186.62 million by 2030 with a compound annual growth rate (CAGR) of roughly 9.93% between 2023 and 2030.

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Laser Engraving Machine Market: Overview

A laser engraving machine is a technology used for the process of laser engraving. It deals with leaving permanent marks, designs, or letters, signs, or symbols with the help of intense laser beams. Modern laser engraving machines are highly automated due to the intrinsic nature of the final deliverables. It has become possible to achieve precise markings using laser engraving machines and since they can be used across a wide range of materials, these tools are highly versatile and used in several industries. Some of the most common materials that are used during the laser engraving process are metals, wood, plastic, and glass.

The two main components of a laser engraving machine are the lenses and the laser. Both of these elements work together to produce a highly intense and concentrated laser beam which when falls on a surface, initiates the process of engraving. Currently, the commercial market is dominated by multiple types of laser machines including crystal lasers, fiber lasers, UV laser makers, and CO2 laser makers. Since laser beams are permanent markers, the engravings do not fade away with time and hence are a popular choice across sectors.

Key Insights:

• As per the analysis shared by our research analyst, the global laser engraving machine market is estimated to grow annually at a CAGR of around 9.93% over the forecast period (2023-2030)
• In terms of revenue, the global laser engraving machine market size was valued at around USD 2,900.84 million in 2022 and is projected to reach USD 6,186.62 million, by 2030.
• The laser engraving machine market is projected to grow at a significant rate due to the increasing applications in the construction & business (C&B) industry
• Based on application segmentation, machine tool was predicted to show maximum market share in the year 2022
• Based on type segmentation, fiber laser was the leading segment in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Laser Engraving Machine Market: Growth Drivers

Increasing applications in the construction & business (C&B) industry to drive market growth

The global laser engraving machine market is projected to grow owing to the increasing applications of the technology in the C&B industry. Companies operating in the construction & business sector frequently use laser engraving machines to brand items used in building projects. For instance, the most common industry-specific application is the quality marking or branding of steel and aluminum rods used in construction.

Furthermore, they are also used to mark other plumbing or electrical sections to help consumers understand quality markings and distinguish between good and poor quality products. As the demand for raw materials and accessories used in the construction sector grows, the requirement for highly efficient laser engraving machines will continue to reach new heights. In November 2023, Ratnamani Metals and Tubes, India’s regional stainless steel provider, announced that it will invest in a new in-house production facility as the company aims to find ways to strengthen its foothold in the market.

Growing stringency in quality control guidelines and measures will force more companies to adopt laser engraving technology

The adoption rate of laser machines specially crafted for engraving is projected to reach new heights owing to the increasing announcement of more stringent laws surrounding quality control measures. Private and official standard-regulating organizations across the globe are drafting stricter rules to ensure that consumers are completely aware of product quality.

The products available in the laser engraving machine market are the ideal tools to mark the designated quality certification symbol or sign since the engraving is permanent and cannot be modified later. Furthermore, engravings made using laser machines are evident unlike the results produced by alternative measures.

Laser Engraving Machine Market: Restraints

High cost of high-end laser engraving machines may restrict market demand

The global laser engraving machine industry will face growth restrictions due to the high cost of superior-grade laser engraving machines. The minimal cost of high-end machines can reach up to USD 50,000. The price index makes it difficult for smaller players to make such huge investments thus limiting product adoption to larger enterprises with significant profit margins. The market also offers low-end products with prices as low as USD 300; however, the quality of results is apparent and such machines also offer limited features.

Laser Engraving Machine Market: Opportunities

Increasing innovation related to machine functionality and features may create growth opportunities

The global laser engraving machine market is expected to gain from the rising innovation rate in terms of machine attributes as consumer demands and expectations become more complex. In November 2023, AtomStack, a China-based leading laser engraving solution provider, announced the launch of the first-ever open-frame laser engraving machine series. The products available in the series are made using a unibody molding process thus allowing the devices to provide unmatched precision capabilities.

Furthermore, the machines are easy to install since they showcase reduced complexities. The company has also announced the launch of new accessories along with the series consisting of the F60 Air Assist Set, B3 Enclosure, and Automatic Conveyor. In November 2023, another key player Monport Laser launched its new and all-powerful 00W-150W CO2 high-powered laser cutters with unparalleled engraving performance. In a bid to attract more customers, the company also offered additional bonuses to buyers who bought the products during Black Friday day held in the same month.

Demand for 3-dimensional (3D) laser engraving machines may generate higher revenue

The global industry for laser engraving machines is showing high demand for multi-axis 3D machines with laser engraving technology. While certain companies are currently providing machines that perform using 5-axis technology, more such innovations could lead to greater use of these advanced tools since they are highly intelligent and offer exceptional precision. Moreover, offering products with options to scale as per consumer demand and improved safety will be helpful in the coming years.

Laser Engraving Machine Market: Challenges

Serious health hazards associated with laser engraving machines may challenge market expansion

The global laser engraving machines market is projected to be challenged by the serious health concerns associated with prolonged exposure to particles released during laser engraving. Some of these elements can be toxic to animals and humans, as per several studies. Additionally, if the safety protocol is neglected, the risk of physical harm caused due to intense rays is exceedingly high.

Laser Engraving Machine Market: Segmentation

The global laser engraving machine market is segmented based on application, type, and region.

Based on application, the global market is divided into military, packaging, medical, electronics & microelectronics, machine tool, aerospace, automotive, and others. In 2022, the highest growth was observed in the machine tool segment. It held control over 24.5% of the total share. Machine tools are regularly engraved with critical information such as manufacturing date, batch numbers, design, quality certification, logos, and other elements. The rising investments in sensors and robotics are further impacting the use of laser engraving machines in the machine tool segment.

Based on type, the global market is fragmented into YAG laser, CO2 laser, green laser, fiber laser, and UV laser. In 2022, the fiber laser segment was responsible for nearly 44.35% of the total share. Fiber lasers offer exceptional features such as greater flexibility, compactness, high output power, and superior optical quality. However, it must be noted that each type of laser has specific applications such as YAG and UV lasers are preferred when ceramic, textile, or glass surfaces have to be engraved.

Laser Engraving Machine Market: Report Scope

Laser Engraving Machine Market: Regional Analysis

Asia-Pacific is the leading shareholder among all other regions

The global laser engraving machine market is led by Asia-Pacific. In 2022, around 43% of total revenue was generated by the Asian market with India and China acting as critical growth drivers. These countries are home to some of the leading manufacturers of advanced laser engraving machines. Additionally, the thriving manufacturing sector in Asia-Pacific allows manufacturers higher access to raw materials required for laser engraving machines.

In April 2023, China-based Atezr, a leading producer of machines that engrave using laser technology, launched the second generation of its world-popular laser engraving machine with 35W, 20W, and 10W models. The company has managed to push the boundaries of innovation with the launch since it offers a maximum engraving speed of 5600 mm/min. The consumer market in Asia-Pacific is equally high. The region is witnessing surging investments in the construction & business sector. China is the world’s largest producer of steel.

In December 2022, it produced more than 77 million metric tons of steel. The growing automobile sector especially led by higher demand for electric vehicles (EVs) will help shape regional market growth trends in the coming years.

Laser Engraving Machine Market: Competitive Analysis

The global laser engraving machine market is led by players like:

• Han's Laser Technology Industry Group Co. Ltd.
• Gravotech Group
• TRUMPF Group
• Trotec Laser GmbH
• GCC LaserPro
• Epilog Laser
• Roland DGA Corporation
• Universal Laser Systems Inc.
• Rofin-Sinar Laser GmbH
• Eurolaser GmbH
• Aeon Laser
• FOBA - Alltec GmbH
• Thunder Laser
• Bodor Laser
• Vytek Laser Systems
• Mehta Cad Cam Systems Pvt. Ltd.
• CamFive Laser
• Kern Laser Systems
• Redsail Tech Co. Ltd.
• SISMA S.p.A.

The global laser engraving machine market is segmented as follows:

By Application

• Military
• Packaging
• Medical
• Electronics & Microelectronics
• Machine Tool
• Aerospace
• Automotive
• Others

By Type

• YAG Laser
• CO2 Laser
• Green Laser
• Fiber Laser
• UV Laser

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa