The Latin America, Middle East and Africa Laser Marking Machine Market would witness market growth of 10.8% CAGR during the forecast period (2021-2027).
Laser marking refers to an irreversible process, which utilizes a beam of concentrated light to make a lasting mark on any kind of surface with valuable information like component labeling, serial numbers, barcodes, best-before-date, individual part numbers, brand name, and among others. There is a wide range of applications of laser marking machines, among all; some of them include carbon migration, engraving, annealing, and etching.
In addition, these engravings by laser marking machines are permanent, quick, and accurate. Several benefits like high beam quality, more efficiency, and superior reliability are contributing to the high usage of these machines across several industries verticals. Additionally, they are predominately utilized in the electronics & semiconductor sector for the laser marking of PCBs and silicon wafers, to simplify traceability.
The untapped potential of this region is attracting many enterprises to enter this region. Additionally, the cheap labor in some nations of this region along with the high availability of raw materials is increasing the number of manufacturing across the region. This would further boost the demand for laser marking machines in the region. Further, the increasing government compliances are also anticipated to support the regional market growth.
Moreover, the growing adoption of various advanced technologies and machines by many companies is among the major driving factors of the regional laser marking machine market. The increasing investment of the government to strengthen the medical sector and the rising government initiatives to attract more companies for business in their nation would also contribute to the growth of the regional laser marking machine market.
The Fiber Laser market dominated the South Africa Laser Marking Machine Market by Type 2020, thereby, achieving a market value of $15.3 million by 2027. The CO2 Laser market is estimated to grow at a CAGR of 11.2% during (2021 - 2027). The Green Laser market is showcasing a CAGR of 12.7% during (2021 - 2027). Additionally, The UV Laser market is expected to witness highest CAGR of 13.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Laser Marking Machine Market is Predict to reach $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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