Laser Drilling, Cutting, Marking and Engraving Market Size, Share, Growth Analysis, By Technology(Gas Laser, Solid State Laser, Semiconductor Lasers and others), By Laser Processing Techniques(Laser Cutting, Laser Drilling, Laser Machining, Laser Engraving), By Machine Configuration(Fixed beam, Moving Beam, Hybrid, Raster mode and Vector), By Verticals(Mode Automotive, Aerospace, Architecture, Machine Tools), By Region - Industry Forecast 2024-2031

Laser Drilling, Cutting, Marking and Engraving Market size was valued at USD 4.64 billion in 2019 and is poised to grow from USD 4.93 billion in 2023 to USD 7.65 billion by 2031, growing at a CAGR of 6.9% in the forecast period (2024-2031).

With the use of laser technology, operations like laser welding, surface modification, laser cutting, laser marking, laser drilling, and micro-processing may be carried out using a laser beam produced by the thermal effect. A laser is a device that amplifies light through the stimulation of radiation. The most popular projected beam types used in laser processing are moving, stationary, or hybrid beams. The four most common types of laser processing are engraving, material processing, micro-processing, and etching. Numerous applications that require material vaporisation result from high-power lasers' capacity to deliver high levels of irradiance (power per unit area) to absorbent surfaces. Lasers have the ability to cut and drill materials. All of these applications use vaporisation to remove material. Due to their superb beam quality, remarkable durability, and high efficiency, they are used in a wide range of industrial applications. These are mostly utilised in the semiconductor and electronic sectors. Additionally, they have several applications in the military, aerospace, machine tools, automotive, and architectural industries. Various techniques in both business and industrial settings make use of lasers. Common industrial processes utilising laser technology include material processing, branding and engraving, and other micro-processing.

US Laser Drilling, Cutting, Marking and Engraving Market is poised to grow at a sustainable CAGR for the next forecast year.