Laser Engraving Equipment Market Size & Growth Report to 2030

The global laser engraving equipment market was valued at around USD 3 billion in 2023 and anticipated to grow at a significant CAGR of around 8% during the forecast period. The market is driven by factors such as increasing adoption across industries, technological advancements, customization trends, advantages over traditional methods, product identification needs, sustainability focus, and the growth of e-commerce and personalization platforms. The versatility and precision of laser engraving machines make them suitable for various applications, while advancements in laser technology enhance their performance. The demand for personalized and customized products, along with the need for permanent markings and eco-friendly solutions, further fuels the market. Additionally, the rise of online platforms and e-commerce channels contributes to the growing demand for laser engraving equipment.

Market Snapshot:

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Market Drivers:

Increasing Adoption in Various Industries: Laser engraving equipment is widely used across industries such as automotive, aerospace, electronics, jewelry, medical, and signage. The versatility of laser engraving machines makes them suitable for a wide range of applications, including marking, engraving, cutting, and etching. The growing adoption of laser engraving technology in these industries drives the demand for laser engraving equipment.

Technological Advancements: Continuous advancements in laser technology have improved the performance, precision, and speed of laser engraving equipment. These advancements include the development of more efficient laser sources, enhanced control systems, and improved software. Technological innovations make laser engraving machines more capable and versatile, attracting customers looking for efficient and high-quality engraving solutions.

Customization and Personalization Trends: The increasing demand for personalized and customized products across various industries has fueled the growth of laser engraving equipment. Laser engraving allows for precise and intricate designs, text, and graphics on a wide range of materials, enabling businesses to offer unique and personalized products to their customers. This trend is particularly prevalent in sectors like jewelry, giftware, and consumer electronics.

Advantages over Traditional Engraving Methods: Laser engraving equipment offers several advantages over traditional engraving methods, such as mechanical engraving or chemical etching. Laser engraving provides higher precision, finer details, and the ability to work on a broader range of materials. It is also a non-contact process, eliminating the risk of damage to delicate or sensitive surfaces. These advantages drive the adoption of laser engraving equipment as a preferred choice for engraving and marking applications.

Growing Demand for Product Identification and Branding: Laser engraving is widely used for product identification, branding, and marking purposes. Industries such as automotive, electronics, and medical devices require permanent and legible markings for traceability, branding, and compliance purposes. Laser engraving equipment offers a reliable and high-quality solution for such applications, driving its demand in these industries.

Increasing Focus on Sustainability: Laser engraving is considered an environmentally friendly and sustainable marking solution compared to traditional methods that involve chemicals or excessive material waste. With the growing emphasis on sustainability and eco-friendly practices, businesses are adopting laser engraving equipment to reduce their environmental footprint.

Growing E-commerce and Personalization Platforms: The rise of e-commerce and online personalization platforms has created opportunities for laser engraving equipment. Many online retailers and personalized product platforms offer laser-engraved products, allowing customers to customize and personalize items before purchase. The demand for laser engraving equipment is driven by the need for these platforms to deliver high-quality and customized products efficiently.

Market Insights:

Market Analysis by Product Type

The global laser engraving equipment market is bifurcated into product type, application, end-use industry, and geography. On the basis of product type, the market is further segmented into fiber lasers, co2 lasers, solid-state lasers, and others. The fiber lasers segment dominated the global market in the benchmark year. They have gained prominence due to their superior beam quality, high efficiency, and reliability. Fiber lasers are versatile and can engrave a wide range of materials, including metals and reflective surfaces. Their fast engraving speeds and compact size further contribute to their popularity. Additionally, the growing demand for metal engraving in industries such as automotive and aerospace has boosted the preference for fiber lasers.

Fiber Lasers: Fiber lasers are a popular choice for laser engraving due to their high efficiency, reliability, and precision. They use optical fibers as the laser medium and are known for their superior beam quality, enabling fine and intricate engraving on various materials.

CO2 Lasers: CO2 lasers are widely used in laser engraving equipment. They use a gas mixture to produce the laser beam and are suitable for engraving on non-metallic materials such as wood, acrylic, leather, and glass. CO2 lasers are known for their versatility and ability to provide high-quality engraving on larger work areas.

Solid-state Lasers: Solid-state lasers, such as Nd:YAG (neodymium-doped yttrium aluminum garnet) and Nd:YVO4 (neodymium-doped yttrium orthovanadate) lasers, are commonly used in laser engraving machines. They offer high power and excellent beam quality, making them suitable for various applications, including marking and engraving on metals, ceramics, and plastics.

Others: This category includes other types of lasers used in laser engraving equipment, such as diode lasers and green lasers. Diode lasers are compact and energy-efficient, making them suitable for portable engraving devices. Green lasers, typically based on frequency-doubled solid-state lasers, are preferred for applications that require high visibility, such as laser marking on glass and ceramics.

Market Analysis by Application

On the basis of application, the laser engraving equipment market is bifurcated into metals, plastics, wood, glass, and ceramics. The dominant segment in the laser engraving equipment market by application is Metals. This segment holds a prominent position due to several key factors. First, metal engraving finds widespread application in industries such as automotive, aerospace, and jewelry, where permanent and high-precision markings are crucial for product identification, branding, and traceability. The industrial demand for metal engraving drives the market growth in this segment.

Furthermore, laser engraving technology offers exceptional versatility and durability when it comes to engraving on metal surfaces. It can achieve precise and durable markings on a variety of metals, including stainless steel, aluminum, brass, and titanium. This versatility makes laser engraving a preferred choice for industrial applications where resistance to wear, corrosion, and fading is critical. Moreover, the wide range of applications for metal engraving contributes to its dominance. It is used for part identification and serialization in automotive and aerospace industries, branding and personalization of jewelry and accessories, and customization of metal components in manufacturing processes.

Metals: Laser engraving equipment finds significant application in marking and engraving on various metal surfaces, including stainless steel, aluminum, brass, and titanium. The precise and permanent markings achieved with laser engraving make it valuable in industries such as automotive, aerospace, jewelry, and manufacturing.

Plastics: Laser engraving on plastics is widely used for product branding, customization, and identification purposes. Plastics such as acrylic, ABS, PVC, and polycarbonate can be engraved with intricate designs, logos, and text using laser engraving equipment. This application segment is prevalent in industries like consumer electronics, signage, and promotional products.

Wood: Laser engraving equipment is utilized for decorative engraving, personalized artwork, and branding on wooden surfaces. Wood products such as furniture, interior décor items, wooden gifts, and signage can be intricately engraved using laser technology. This application segment caters to industries like woodworking, crafts, and personalized giftware.

Glass: Laser engraving on glass offers precise and delicate etching, allowing for custom designs, logos, and text on glassware, mirrors, and decorative items. Glass laser engraving finds applications in industries like glassware manufacturing, home décor, and personalized gifts.

Ceramics: Laser engraving on ceramics enables intricate and detailed markings on products such as tiles, tableware, and decorative items. It allows for custom designs, logos, and text on ceramic surfaces, providing a premium and permanent engraving solution.

The laser engraving equipment market research report presents the analysis of each segment from 2020 to 2030 considering 2022 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2023 to 2030.

Historical & Forecast Period

• 2020-21 – Historical Year
• 2022 – Base Year
• 2023-2030 – Forecast Period

Market Segmentation:

By Product Type:

• Fiber Lasers
• CO2 Lasers
• Solid-state Lasers
• Others

By Application:

• Metals
• Plastics
• Wood
• Glass
• Ceramics

By End-Use Industry:

• Automotive
• Aerospace
• Electronics
• Medical
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

On the basis of region, North America has been a dominant region in the laser engraving equipment market due to its robust manufacturing sector, technological advancements, and high adoption of laser engraving technology. The region is home to key industries such as automotive, aerospace, electronics, and jewelry, which extensively utilize laser engraving for various applications.

Europe has a strong presence in the laser engraving equipment market, driven by industries like automotive, aerospace, and luxury goods. European countries are known for their precision engineering and craftsmanship, leading to high demand for laser engraving equipment for intricate designs, high-quality markings, and customization.

The Asia Pacific region has witnessed significant growth in the laser engraving equipment market, driven by the rapid industrialization, expanding manufacturing sectors, and increasing adoption of laser technology. Countries such as China, Japan, South Korea, and India have emerged as major players, leveraging laser engraving for applications ranging from electronics and automotive to jewelry and consumer goods.

Competitive Assessment:

Some of the prominent market players operating in the global laser engraving equipment market are Gravotech Group, Trotec Laser, Epilog Laser, Trumpf Group, Universal Laser Systems, and Han’s Laser Technology Industry Group Co., Ltd. Companies are exploring markets by expansion, new investment, the introduction of new services, new product launches, and collaboration as their preferred strategies. For instance:

• Trotec Laser’s Speedy 400 Laser Engraver: Trotec Laser launched the Speedy 400, a high-speed laser engraving machine with enhanced cutting and engraving capabilities. It features a larger work area, faster processing speeds, and improved automation features for increased productivity.
• Epilog Laser’s Fusion Edge Laser Series: Epilog Laser introduced the Fusion Edge series, a line of CO2 laser engraving and cutting machines. These machines offer enhanced precision, higher engraving speeds, and advanced software features for improved workflow and productivity.
• Gravotech’s LS1000XP Laser Engraver: Gravotech launched the LS1000XP, a powerful fiber laser engraving machine designed for industrial applications. It offers high-speed engraving, deep marking capabilities, and advanced automation features for efficient and reliable performance.
• Universal Laser Systems’ PLS6MW Laser System: Universal Laser Systems released the PLS6MW, a versatile laser system capable of engraving and cutting a wide range of materials, including metals, plastics, and wood. It features a hybrid metal cutting technology that combines CO2 and fiber lasers for increased material compatibility and processing flexibility.
• Han’s Laser’s SmartScan Marking System: Han’s Laser introduced the SmartScan marking system, featuring advanced scanning technology for high-speed and precise laser engraving and marking. It offers improved efficiency, accuracy, and versatility for various applications across industries.

Key Companies:

• Gravotech Group
• Trotec Laser
• Epilog Laser
• Trumpf Group
• Universal Laser Systems
• Han’s Laser Technology Industry Group Co., Ltd.
• Rofin-Sinar Technologies (now part of Coherent Inc.)
• Vytek Laser Systems
• GCC LaserPro
• Eurolaser GmbH
• Mecco Partners LLC
• Foba Laser Marking + Engraving (part of ALLTEC GmbH)
• Universal Marking Systems Inc.
• Technifor (a part of Gravotech Group)
• Laserstar Technologies Corporation

Key Questions Answered by Laser Engraving Equipment Market Report

• Global laser engraving equipment market forecasts from 2023-2030
• Regional market forecasts from 2023-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2023-2030 covering 15 major countries from the regions as mentioned above
• Laser engraving equipment submarket forecasts from 2023-2030 covering the market by product type, application, end-use industry, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level laser engraving equipment markets from 2023-2030
• Competitive Landscape and market positioning of top 10 players operating in the market