The Europe Laser Marking Machine Market would witness market growth of 7.2% CAGR during the forecast period (2021-2027).
The expanding requirement for deep engraving and unique device identification in the manufacturing process for the production flow control, inventory control, traceability, and product quality validation are estimated to augment the demand for laser marking machines in the market. Markings engraved by such machines, particularly, fiber laser machines, take less time and do not get disappear, even after excessive exposure to heat and harsh chemical compounds. Therefore, the increasing demand for these machines in the electronics & defense sectors would open new growth avenues for the laser marking machine market during the forecast period.
Furthermore, factor like the rising number of strict government rules and guidelines for markings on various medical and surgical devices to enhance their traceability is anticipated to fuel the growth of the laser market machine market over the forecast period. Along with that, there is an increasing demand for customized leather products like purses, leather jewelry, and handbags, with monogrammed initials and names, which would surge the demand for accessories and apparel. This would further augment the growth of the laser marking machine market in the coming years.
The mature automotive industry of this region is creating lucrative opportunities for the key market players. In addition, the booming aerospace industry across the region would open new growth avenues for laser marking machine manufacturers. The rising government investments and initiatives would support the aerospace sector in nations like the UK.
The manufacturers of various automotive parts adopt laser marking machines to engrave various certification marks and other crucial information on their products, which will bolster the demand for laser marking machines in the region. Additionally, the stringent government rules & regulations regarding the manufacturing of various products across several industrial verticals are encouraging the manufacturers to adopt these advanced machines to boost their production and fulfil the required compliances.
The Germany market dominated the Europe Green Laser Marking Machine Market by Country 2020, thereby, achieving a market value of $46.7 million by 2027. The UK market is exhibiting a CAGR of 7.4% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 8.9% during (2021 - 2027).
Based on Type, the market is segmented into Fiber Laser, CO2 Laser, Green Laser, UV Laser and Others. Based on Application, the market is segmented into Machine Tool, Electronics & Microelectronics, Medical, Automotive, Aerospace, Packaging, Military and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Laser Marking Machine Market Size will Hit $4.7 Billion by 2027, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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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