The Overall Laser Marking Market is expected to grow from USD 2.1 billion in 2018 to USD 3.0 billion by 2024, at a CAGR of 6.0%. Increasing adoption of laser marking across end-user verticals and enhanced performance of laser markers over traditional material marking techniques are the key factors driving the growth of this market.
Key Players in the Laser Marking Market comprise companies operating at different stages of the market’s value chain. The key market players include Coherent (US), Han’s Laser (China), Trumpf (Germany), Gravotech (France), Jenoptik (US), Epilog Laser (US), 600 Group (UK), Mecco (US), Laserstar (US), and Novanta (US). Organic growth strategies, such as product launches, are the focus of many of the above players.
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Top 2 Players in the Laser Marking Market:
In 2018, Coherent (US) ranked first in the Global Laser Marking Market, primarily based on its product portfolio, R&D investments, market penetration, and geographic reach. The company is fostering its growth through acquisition of new technologies, enhancement of its technology portfolio, and product launches in new markets. The company has a presence in the Americas, Europe, the Middle East & Africa, and Asia Pacific (APAC). Some of its subsidiaries include Coherent GmbH (Germany), Coherent Ltd. (UK), Coherent Japan KK (Japan), Lambda Physik USA, Inc. (US), and Coherent Commercial Company Ltd. (China). Coherent has been investing in R&D to develop and acquire new technologies and additional market share by streamlining its manufacturing structure and improving the cost structure. The company is focused on acquiring other companies, expanding its product portfolio, and increasing its customer base. For instance, in March 2018, the company acquired O.R. Lasertechnologie, a German laser technology provider. This acquisition enabled the company to enhance its laser technology and laser marking product portfolio.
Han’s Laser (China) ranked second in the Global Laser Marking Market. The company is fostering its growth by strengthening its product portfolio and minimizing manufacturing costs. The company offers several types of laser marking solutions, including fiber laser machines, CO2 laser machines, UV laser machines, PCB marking machines, and 3D laser marking systems. Han’s Laser aims at strengthening its market presence by providing customized solutions and quality products that utilize resources optimally and minimize manufacturing costs. Supported by its well-known brand identity, Han’s Laser has a strong presence in APAC and other regions, which helped the company double its revenue from USD 1.0 billion in FY16 to USD 2.0 billion in FY17.
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