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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Laser Engraving Machine Market Report Snapshots
Laser Engraving Machine Market Size
Laser Engraving Machine Market Growth
Laser Engraving Machine Market Trends
Laser Engraving Machine Market Share
Laser Engraving Machine Manufacturers
Laser Engraving Machine Market Regional Analysis
*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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