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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Laser Engraving Machine Market Size
The global laser engraving machine market reached a value of more than USD 3.51 billion in 2023. The market is estimated to grow at a CAGR of 8.3% between 2024 and 2032, reaching a value of USD 7.18 billion by 2032.
| Global Laser Engraving Machine Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 3.51 |
| Market Size 2032 | USD Billion | 7.18 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 8.3% |
| CAGR 2024-2032 - Market by Region | Middle East and Africa | 9.0% |
| CAGR 2024-2032 - Market by Country | India | 9.4% |
| CAGR 2024-2032 - Market by Country | Brazil | 9.1% |
| CAGR 2024-2032 - Market by Product Type | Fibre Laser | 9.2% |
| CAGR 2024-2032 - Market by End Use | Model Making | 8.6% |
| Market Share by Country 2023 | Canada | 3.4% |
Laser Engraving Machine Market Outlook
- The rapid expansion of India's packaging sector is expected to offer lucrative opportunities to laser engraving machine manufacturers.
- Australia's cosmetic industry, worth USD 3.5 billion as per the International Trade Administration, is witnessing increased adoption of laser engraving machines to personalise cosmetic products.
- Canadian pharmaceutical sales surged 56.4% to $34.1 billion from 2012 to 2021, fuelling the need for laser engraving machines to create permanent marking for product identification and tracking.
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Laser Engraving Machine Market Growth
Laser engraving machines utilize powerful lasers to etch, cut, and mark hard materials, finding applications in advertising and apparel industries. Costs vary based on laser power and material compatibility. Further, the growing trend of automation is favouring the market growth, enabling mass production.
According to the National Investment Promotion and Facilitation Agency, India dominates as the primary supplier of generic drugs worldwide, contributing to 20% of the volume. Additionally, India serves as a significant vaccine producer, driving the application of laser engraving machine in the pharmaceutical sector.
Key Trends and Developments
Growing automation trend, need for portable and durable solutions, personalisation trends, and the increasing focus on sustainability are the major factors impacting the global laser engraving machine market growth.
January 19, 2024
Longer unveiled Nano, a pioneering portable laser engraver, unlocking creativity. Nano 6W & 12W versions combined affordability and power, reshaping simplicity, and creativity.
December 23, 2023
Definitive anti-dumping duty was imposed on Chinese industrial laser machines, utilised for cutting, marking, or welding. The entire domestic industry, within the MSME sector, relied on such machines.
December 19, 2023
Xiaomi debuted the MIJIA Laser Engraving Machine in China priced at 1,399 yuan ($196). They also unveiled the MIJIA label printer and have a 3D printer.
July 17, 2023
Ortur unveiled the Ortur Laser Master 3 LU3-20A, a notable advancement from previous versions, offering improved features for both hobbyists and professionals. Its potent 20W laser facilitates effective engraving.
Growing automation trend
Laser engraving machines incorporate automation and sophisticated software to boost productivity, accuracy, and ease of use, addressing a wide range of industrial requirements.
Need for portable and durable solutions
The popularity of portable and compact laser engraving machines is increasing, meeting the needs of small businesses, hobbyists, and mobile engraving services that value versatility and adaptability.
Personalisation trend
Consumer demand drives customisation, spurring laser engraving machines to handle diverse designs, intricate patterns, and variable data, meeting increasing customisation needs.
Focus on sustainability
Manufacturers prioritise eco-friendly machines, reducing energy use, emissions, and waste, aligning with sustainable practices and consumer preferences for environmentally friendly products.
Laser Engraving Machine Market Trends
Fibre lasers lead in efficiency, accuracy, and adaptability, especially for metal engraving, driving their popularity in the industry. CO2 lasers offer improved speed and precision, expanding their applications to materials like wood, acrylic, and glass.
These advancements in laser technology cater to diverse industrial needs, revolutionizing manufacturing, and engraving processes across sectors.
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Laser Engraving Machine Industry Segmentation
“Global Laser Engraving Machine Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- CO2 Laser
- Fibre Laser
- Diode Laser
- YAG Laser
| CAGR 2024-2032 - Market by | Product Type |
| Fibre Laser | 9.2% |
| YAG Laser | 7.5% |
| CO2 Laser | XX% |
| Diode Laser | XX% |
Market Breakup by End Use
- Advertising Decoration
- Printing and Packaging
- Leather and Apparel
- Model Making
- Arts and Crafts
- Others
| CAGR 2024-2032 - Market by | End Use |
| Model Making | 8.6% |
| Leather and Apparel | 7.9% |
| Advertising Decoration | XX% |
| Printing and Packaging | XX% |
| Arts and Crafts | XX% |
| Others | XX% |
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
| CAGR 2024-2032 - Market by | Region |
| Middle East and Africa | 9.0% |
| Europe | 6.4% |
| North America | XX% |
| Asia Pacific | XX% |
| Latin America | XX% |
Laser Engraving Machine Market Share
The use of laser engraving machines for advertising and designing drives the market, with the adoption of methods that attract attention, enhance brand visibility, and increase the probability of customer engagement and conversion.
Advertising, including the use of promotional gifts, elevates brand recognition through prominent display of logos and messages on diverse surfaces, attracting attention, allowing personalization, ensuring brand uniformity, delivering cost-efficiency, and ensuring prolonged exposure for businesses.
| 2023 Market Share by | Country |
| Canada | 3.4% |
| USA | XX% |
| UK | XX% |
| Germany | XX% |
Laser engraving machines provide material versatility, precision in intricate designs, personalization capabilities, durability, and eco-friendly benefits, catering to growing demands for customization in multiple industries.
Based on product type, fibre lasers are a significant contributor to the laser engraving machine market revenue. Their durability and low maintenance requirements lead to decreased downtime and enhanced business productivity.
Fibre lasers demonstrate exceptional power efficiency by economically converting input energy into laser output. They exhibit versatility across various materials, including metals and plastics, making them well-suited for applications in automotive, aerospace, and electronics industries.
Diode lasers feature a compact and lightweight design, making them ideal for small-scale engraving systems or handheld devices. They offer energy efficiency, cost-effectiveness, and high engraving speeds, making them suitable for portable applications with reduced operating costs and accelerated production cycles.
Leading Manufacturers in the Laser Engraving Machine Market
The companies specialise in creating, producing, and distributing laser systems and components for a variety of uses.
Universal Laser Systems, Inc., founded in 1988 and headquartered in Scottsdale, Arizona, specializes in state-of-the-art laser material processing solutions, integrating innovative technologies to offer exceptional customer service.
Trotec Laser GmbH, established in 1997 and based in Wels, Austria, focuses on delivering top-notch laser marking, engraving, and cutting solutions. With a commitment to quality and reliability, Trotec meets the needs of its worldwide clientele.
LaserStar Technologies Corporation, founded in 1957 and situated in Riverside, Rhode Island, leads in providing advanced laser welding, marking, and engraving systems. Its cutting-edge solutions cater to diverse industrial applications.
Epilog Corporation, established in 1988 and headquartered in Golden, Colorado, is renowned for its excellence in producing high-quality laser engraving and cutting systems.
Another prominent player in the laser engraving machine market is Sintec Optronics Pte Ltd., among others.
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Laser Engraving Machine Market Analysis by Region
Asia Pacific leads the global laser engraving machine market due to enhancements in laser technology, such as increased laser power, precision, and speed.
The Asia-Pacific region is witnessing market expansion due to strict government regulations related to the traceability of medical equipment. The availability of compact, user-friendly machines at affordable prices is fuelling demand, extending its use beyond industrial settings to home applications in arts, crafts, and apparel.
| CAGR 2024-2032 - Market by | Country |
| India | 9.4% |
| Brazil | 9.1% |
| Mexico | 8.4% |
| Japan | 8.2% |
| Saudi Arabia | 8.0% |
| USA | XX% |
| Canada | 7.8% |
| UK | XX% |
| Germany | XX% |
| France | XX% |
| China | XX% |
| Australia | XX% |
| Italy | 6.3% |
As per the Department of Pharmaceuticals, India's pharmaceutical sector ranks third globally by volume and fourteenth by value. The industry recorded an annual turnover of Rs. 2,89,998 crores in 2019-2020, favouring the market growth.
Additionally, North America is experiencing increased demand for laser engraving machines due to advanced manufacturing methods and DIY and home decor sector trends.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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Laser Engraving Machine Market Size
Laser Engraving Machine Market Growth
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Laser Engraving Machine Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 3.51 billion in 2023.
The market is projected to grow at a CAGR of 8.3% between 2024 and 2032.
The revenue generated from the laser engraving machine market is expected to reach USD 7.18 billion in 2032.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various product types in the market include CO2 laser, fibre laser, diode laser, and YAG laser.
The different end-uses of laser engraving machines include advertising decoration, printing and packaging, leather and apparel, model making, and arts and crafts, among others.
The key market players are Universal Laser Systems, Inc., Trotec Laser GmbH, LaserStar Technologies Corporation, Epilog Corporation, and Sintec Optronics Pte Ltd., among others.
The key market trends include rapid technological advancements, automation of laser engraving, and general public use of compact laser engraving machines.
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