Laser Coding and Marking Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Fiber Laser, CO2 Laser, UV Laser), By Application (Automotive, Aerospace, Machine Tool, Electronics & Microelectronics, Medical, Packaging, Others), and Regional Forecast to 2028

Updated On: 13 November 2023

REPORT OVERVIEW

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The global laser coding and marking equipment market size was USD 2689 million in 2022. As per our research, the market is expected to reach USD 4219.9 million by 2028, exhibiting a CAGR of 7.8% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with laser coding and marking equipment experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Different products can be marked using popular industrial laser marking techniques. Coding is a type of modern marking that entails writing codes like barcodes, dates, serial numbers, etc. on products. When carried out with a laser marking equipment, this process is known as laser coding. Production and intralogistics procedures for both consumer and industrial items depend heavily on coding and marking.

Laser coding and marking equipment are used to print product-related data, such as the date of manufacture, batch number, and date of expiration, on the packaging. Demand in key end-use industries like food and beverage, beauty products, chemicals, pharmaceuticals, construction and building materials, amongst others, influences the market. These industries also have a positive outlook for the retail sector.

COVID-19 Impact: Supply and Isolation Limitations to Deplete Market Advancement

The laser coding and marking equipment market growth was severely impacted by the COVID-19 outbreak. As parts of the lockdowns and limits put in place as part of the attempts to stop the spread of the coronavirus, production activities were temporarily paused at a number of manufacturing facilities. The imports and exports of the equipment were also impacted by limitations on the travel of people and products.

Due to company closures, lockdowns that had to be enforced, and delays in every aspect of supply chain manufacturing operations globally, the pandemic has had a severe impact on equipment business. All manufacturing procedures associated with the industry have been weakened by the outbreak. Due to the increasing rise in vaccination efforts, companies are recouping losses in the market for coding and marking systems by utilizing new trends and technologies.

LATEST TRENDS

"Packaging Procedures Modification to Stimulate Market Development"

Manufacturers in the fast-moving, high-output beverage industry must contend with shifting consumer habits that could affect operational effectiveness. Plastic bottles are being pushed out in favour of bottles made of other materials, like aluminium that is completely recyclable. In response, beverage businesses are updating their packaging procedures as well as their coding and branding systems. Due to which the market will advance at a rapid pace in the upcoming years.

SEGMENTATION

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• By Type

Based on type; the market is divided into fiber laser, CO2 laser, and UV laser

Fiber laser is the leading part of the type segment.

• By Application

Based on the application; the market is divided into automotive, aerospace, machine tool, electronics & microelectronics, medical, packaging, and others

Automotive is the leading part of the application segment.

DRIVING FACTORS

"Utilization in Automotive Sector to Aid Market Expansion"

By properly coding the automobile parts, laser coding and marking equipment may prove to be extremely helpful in the automotive sector in preventing the use of fake vehicle parts.  When printing scannable, anti-counterfeiting barcodes, automotive manufacturers often prefer invisible inks. Requirement of laser coding and marking equipment is anticipated to increase as a result of the automobile sector incumbents' anti-counterfeiting initiatives.

"Food and Beverage Industries to Foster Industry Progress"

In 2020, the beverage and food sectors led the laser coding and marking equipment market and accounted for more than 31% of total sales. A food company must get food safety accreditation before it can sell its products through retailers or online platforms. To combat counterfeiting, food companies are likewise placing a big focus on differentiation of products and trademark protection.

Additionally, as people become more and more concerned with their health, they are increasingly looking for traceable tags and regulatory certificates on the food goods they buy, which is raising the need for laser coding and marking equipment from food and beverage industries.

RESTRAINING FACTORS

"Difficult Installation Procedures to Hinder Market Advancement"

But coding and labelling equipment is frequently very expensive. Putting the equipment into place can be a very expensive undertaking. All supply chain participants, especially the smaller ones, might not have enough financial resources to build the infrastructure necessary to put equipment in place. As a result, during the course of the forecast period, the laser coding and marking equipment market expansion is anticipated to be constrained by the high costs associated with equipment.

REGIONAL INSIGHTS

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"Rising Technological Developments in North America to Support Market Advancement "

By accounting for more than 32% of market revenue in 2020, North America is predicted to dominate the laser coding and marking equipment market share during the forecasted timeframe. The health care and medical industries located in North America is sometimes defined as mature since multiple market leaders make significant investments into technologies in order to develop new products and treatments. The region is renowned for the strict laws it has created to oversee its food, pharmaceutical, and healthcare industries in order to prevent the sale of any potential fake goods. As a result, businesses in the area, particularly those in the pharmaceutical industry, are placing a high priority on establishing the equipment, which is causing the regional market to expand.

KEY INDUSTRY PLAYERS

"Prominent Players in the Industry to Promote Market Expansion"

Specific segmentation by area (country), manufacturers, kind, and application are included in the study paper. By using criteria like type of product, end-user or application, geography, and other variables, market segmentation divides a market into smaller segments. By influencing the way businesses develop product offers for various market segments, market segmentation can drive business product development cycles. The managerial department may employ this repot for focusing in the goods, revenue, and marketing techniques by comprehending the market component.

List of Market Players Profiled

• Han's Laser (China)
• Trumpf (Germany)
• Telesis (U.S.)
• Danaher (U.S.)
• Brother (Japan)
• Hitachi (Japan)
• Dover (U.S.)
• SATO (Japan)
• Gravotech (France)
• Trotec (Austria)
• Rofin (U.S.)
• TYKMA Electrox (U.S.)
• REA JET (Germany)
• ITW (U.S.)
• SUNINE (U.S.)
• KGK (China)
• Matthews (U.S.)
• Control print (India)
• KBA-Metronic (Germany)

REPORT COVERAGE

The industry report examines the global market, geographic and country-level market sizes, categorization market expansion, market share, competitor analysis, sales trends, influence of domestic and international market players, supply chain enhancement, trade laws, latest developments, possibilities analysis, business strategy market expansion analysis, product releases, area competitive landscape expanding, and technological advancements.

The report also examines the equipment market's current state of development and its overall market trend. It also separates the market by categories based on type and applications in order to conduct a detailed study and demonstrate the industry's characteristics and prospects. By taking into account a range of elements, such as growth rate, trends, industrial advancements, technologies, growth, distribution, and barriers, it offers a thorough assessment as well as a detailed analysis.

If the significant competitors or the predicted assessment of market dynamics change, the analysis would need to be updated. In terms of production, this study looked at consumption, manufacturing, annual growth, and share prices of manufacturers. It also delivers detailed information and cutting-edge assessment required to create an ideal strategic plan and outline the best path for speedy growth for all industry participants. With this knowledge, participants will be better able to build new strategies are focused on market prospects that would benefit them, thereby rendering their company ventures successful.