Forums » News and Announcements
Global Laser Engraving Machine
-
Global Laser Engraving Machine
The laser engraving machine market is growing rapidly, with sales expected to reach $6.19 billion by 2028. This growth can be attributed to the rising demand for these machines from various end-use industries, such as advertising, art and crafts, and education. Laser engraving machines are widely used in advertising industry for creating signage and displays. They are also used in art and crafts for engraving designs on metals, glass, wood, and leather. These machines are increasingly being used in the education sector for engraving logos and texts on award certificates and trophies.Get more news about laser engraving machine,you can vist our website!
The rising demand for laser engraving machine market is also driven by the growing popularity of personalization and customization. Consumers today prefer products that are personalized and customized according to their taste and preference. Laser engraving machines help create unique and customized products that cater to the specific needs of consumers. Thus, the growing demand for laser engraving machine from various end-use industries is expected to drive the market growth during the forecast period.
In order to better understand the laser engraving machine market, SkyQuest conducted an analysis of the sector. The study revealed that the industry is growing at a CAGR of 8.5%, with China and North America being the two largest markets. Asia-Pacific region will account for the lion's share of future growth in the market, with China leading the way. The country is expected to account for nearly 30% of all new laser engraving machine sales between 2019 and 2024. The United States is also expected to be a major growth market for laser engraving machines, thanks to the increasing popularity of custom engraved products among American consumers.
The report on the global laser engraving machine market also found that there are three main types of laser engraving machines: CO2, fiber, and Nd:YAG are holding their dominance over the market across the globe. Wherein, fiber laser engraving machines are the most popular type, accounting for around 45% of all machines sold. They are often used for engraving smaller objects such as jewelry and gifts. CO2 laser engraving machines are the second most popular type, accounting for around 30% of all machines sold. They are typically used for engraving wood, glass, metal, and plastics. The study also found that price is not the only factor driving demand for laser engraving machines. Other factors such as speed, accuracy and quality have also become important considerations for buyers.