Fiber Laser Marking Machine Market Size

Fiber Laser Marking Machine Market size was over USD 2.83 billion in 2023 and is projected to exceed USD 7.79 billion by 2036, witnessing over 8.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of fiber laser marking machine is assessed at USD 3.01 billion.

The primary growth factor for the fiber laser marking machine market is the rising sales and production of automobiles in the world as the companies in the automotive sector are using fiber laser marking machines to print serial numbers on tires. As per International Organization of Motor Vehicle Manufacturers, the sales and registrations of new vehicles surged from 78,774,320 in 2020 across the world to 82,684,788 in 2021. Fiber laser marking machines are mostly used to mark objects. The fiber laser marking machine does not employ inks or tool bits for marking the products. Moreover, they are equipped with a high-power carbon dioxide laser with a finely focusable beam. Fiber laser marking machines are commonly used in automotive, packaging, and other industries. The data by the International Organization of Motor Vehicle Manufacturers shows that 77,621,582 motor vehicles were produced across the world in 2020.