According to a new report Global Laser Marking Machine Market, published by KBV research, The Global Laser Marking Machine Market size is expected to reach $4.7 billion by 2027, rising at a market growth of 7.6% CAGR during the forecast period.
The fiber laser type segment acquired the maximum revenue share in 2020 and is projected to witness the fastest growth rate during the forecast period. It is due to the numerous benefits offered by these machines like high output power, high optical quality, flexible fiber light, and compact size of the machine. These machines utilize various laser sources with diverse wavelengths, which make each kind of machine to be utilized for a particular range of applications.
The aerospace application segment is estimated to witness the fastest growth rate during the forecast period. The applications of laser marking machines have substantially surged in the past few years due to the increasing demand for electronic products. Along with that, electronic device manufactures are also increasing their focus on the expansion of product range to acquire the largest share of the market, which is resulting in the high production of electronic devices and positively that would support the market growth.
The Asia Pacific emerged as the leading region in the laser marking machine market with the maximum share in 2020 and is projected to continue this trend during the forecast period. India and China are the key countries contributing to the regional growth of the market due to the growing adoption of laser marking machines in manufacturing units in the region. The high adoption of advanced manufacturing technologies in the Chinese machine tools sector and the prospering aerospace and military sector in this region would accelerate the regional growth of the market.
Full Report: https://www.kbvresearch.com/laser-marking-machine-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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