The Asia Pacific Laser Marking Machine Market would witness market growth of 7.6% CAGR during the forecast period (2021-2027).
The laser marking technology is majorly adopted across numerous industrial verticals owing to its cost-effectiveness, reliability, and product uniqueness. There are many companies that are initiating protocols for permanent marking on a wide range of products for traceability, proof of identity, and documentation purposes, particularly in the healthcare & defense sectors. Additionally, the aerospace and automotive sector is majorly incorporating the technology. Companies in the automotive sector are utilizing this technology for printing serial numbers on tires without changing the structure of the tire. In comparison to the conventional engraving processes, laser marking is believed to be a versatile option for marking a broad variety of aircraft parts as it provides high durability.
The laser marking machines have extensive utilization in the electronic devices sector. Products in the electronics & semiconductor sector are produced in a huge amount and, thus, need an automated marking & engraving process. Such components are usually marked with different information, which is engraved by using marking machines. For example, 2D data-matrix codes are carved on electronic parts by using Galvo laser marking systems for a semi-automated or fully automated labeling process. Thus, enterprises like Telesis Technologies provide EV4GDS Green Laser System, which helps in high-speed marking on electronic parts like capacitors, microchips, and circuit boards.
The increasing manufacturing units across various emerging nations like India and China is among the major key factors fuelling the growth of the regional market. This region has been a major attraction for various companies which establish their manufacturing units due to the cheap labor and availability of raw materials and thus, the number of manufacturing facilities has increased over the years. This would further spur the demand for laser marking machines in this region.
Moreover, the rising adoption of various advanced technologies within the manufacturing sector is contributing to the growth of the regional laser marking machine market. Several government initiatives are also attracting companies to invest in this region and hence, fueling the demand for laser marking machines across the region. Additionally, the growing demand for electronic devices and the severe impact of the COVID-19 pandemic are boosting the growth of the regional market.
The Machine Tool market dominated the Malaysia Laser Marking Machine Market by Application 2020, thereby, achieving a market value of $31 million by 2027. The Electronics & Microelectronics market is showcasing a CAGR of 10.1% during (2021 - 2027). Additionally, The Medical market is poised to grow at a CAGR of 11.9% during (2021 - 2027).
Based on Type, the market is segmented into Fiber Laser, CO2 Laser, Green Laser, UV Laser and Others. Based on Application, the market is segmented into Machine Tool, Electronics & Microelectronics, Medical, Automotive, Aerospace, Packaging, Military and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Laser Marking Machine Market is Projected to reach USD 4.7 Billion by 2027, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Han's Laser Technology Industry Group Co., Ltd., Telesis Technologies, Inc., Videojet Technologies, Inc. (Danaher Corporation), Trotec Laser GmbH (Trodat), Epilog Laser, 600 Group PLC (TKMA Electrox, Inc.), MECCO, LaserStar Technologies Corporation and Gravotech Marking.
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