Carbon Dioxide Laser Marking Machine Market By Type (Sealed-off CO2 Lasers, Flowing CO2 Gas Lasers, and Transverse Flowing CO2 Gas Lasers), By End User (Healthcare, Military & Defense, Manufacturing, and Automotive), By Region (North America, Europe, Asia Pacific, and Rest of the World) - Global Analysis & Forecast 2019-2030
Report ID : 123 | Published Date : Nov 2019 | Pages : 170 | Region : Global | Report Code : OTH-13
Market Industry Reports (MIR) has published a new report titled “Carbon Dioxide Laser Marking Machine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global carbon dioxide laser marking machine market is estimated to be over US$ 252 Mn in 2018. It is anticipated to grow at a CAGR of 2.4% from 2019 to 2030.
Such significant market growth can be attributed to the increasing adoption of laser marking for various applications and enhanced performance of laser marking over traditional marking techniques. Moreover, factors such as technological advancements aimed toward increased precision & sophistication of such devices along with the increasing use of CO2 laser technology in healthcare applications are further anticipated to boost market growth during the forecast period. Furthermore, extensive research & development initiatives by major companies and research institutions across the globe to increase the precision & sophistication of such devices are further expected to contribute to market expansion. On the other hand, the availability of alternatives for CO2 lasers marking machines is expected to hamper market growth.
A broad spectrum of surgical procedures and dental practices involve a high level of precision. This requirement further leads to the need for making accurate markings on the skin and tissues. CO2 lasers serve as a convenient means to make such markings when compared with scalpels or lancets. Also, incisions or markings made using traditional surgical methods take a longer time to heal whereas those made using CO2 laser marking machines reduce the healing time and infection risks considerably. Owing to some of the major advantages that are mentioned above, CO2 laser markings are in great demand for medical & surgical procedures.
Low-power CO2 laser machines can be used to obtain highly accurate markings while manufacturing various components of automotive vehicles, machinery, Printed Circuit Boards (PCBs), and other equipment. They can further be integrated with AutoCAD and CNC machines to engrave markings and even directions/instructions on solid surfaces. CO2 laser marking machines are preferred in manufacturing and automobile primarily owing to low power consumption. The high power variants of CO2 lasers are mostly used for operations such as welding and cutting, among others.
The availability of alternative products, such as fiber lasers, diode lasers, solid-state lasers, and others, is anticipated to hinder market growth in the coming years. Moreover, the availability of a few of these alternatives at comparatively lower prices will further restrain market growth.
Asia Pacific is estimated to grow at the highest CAGR during the forecast period. The presence of a high number of automotive manufacturers, growing number of electronic device manufacturers, high adoption rates of new technologies, rapid industrialization and favorable policies of governments in this region coupled with their emphasis on research & development activities are the major factors that will create lucrative growth opportunities for this region. North America is expected to hold the second-largest market share during the forecast period; however, Asia Pacific will continue to witness growth at the fastest rate.
Some prominent players in the CO2 laser marking machine market include Edinburgh Instruments Ltd., Han's Laser Technology Co. Ltd., Lumenis Ltd., Coherent Inc., MLT GmbH, 4JET Technologies GmbH, Directed Light Inc., GSI Group Ltd., Gravotech Engineering Pvt. Ltd., and others.