Marking devices are used to reveal or highlight an image at the bottom of a product such as date and number stamp, serial number, and inspection stamp through various methods such as laser, burn, inkjet, chemical, thermal transfer, and rotary pad printing. These devices are used to draw images on materials such as alloys, black paper, ceramic, ebony, polymers, glass, leather, polycarbonate, metals, plastics, precious stones, rubber, silicon, textiles, and wood. These devices have faster, accurate, and permanent marking solutions for metals and non-metal units. Most sectors use a marking device to mark component for the purpose of labeling, serial number, barcodes, date codes, and individual part numbers. The global marking devices market is estimated to expand at a rapid pace during the forecast period due to its increasing demand for marking devices from different industries having its use in the medical and automotive sector.
COVID -19 impact on industry -
COVID-19 pandemic has shut-down the production of various products in the marking devices market industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of marking devices market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The main purpose of marking devices is used to highlight or reveal the stamp or serial number, they have their much usage in medical equipment and this increasing demand becomes their growth factor but substitute product are prohibiting their growth in market.
Rise in demand for these devices are growing
Increasing government regulations for UDI (Unique Device Identification) so that identification tasks become important for manufactures is the major factor that is going to propel the market growth in the next few years. Rise in demand for laser marking devices is expected to fuel the growth of the marking devices market all over the world as its usage is everywhere. Laser marking devices mark serial numbers on an object by using laser beams, which makes the challenging task of marking on medical devices, easier. So, laser marking devices are widely used for marking on medical devices. These devices have their high demand for marking devices from aerospace, packaging, electronics, automotive, and other industries to mark component labeling, serial numbers, barcodes, date codes, and individual part numbers and this is expected to fuel the demand for marking devices. Development of new products globally is further projected to drive the marking devices market, primarily because marking devices are used to reveal that important details on devices.
Emergence of environment-friendly coding technologies.
The major trend identified in the global coding and marking systems market is the emergence of environment-friendly coding technologies. The growing demand for anti-counterfeit coding and marking on packages in industries such as food and beverage, and automotive has been recognized as the major driver for the growth of the market during the forecast period. The increasing sales of packaged snacks, processed food, bottled water, non-alcoholic beverages, and dairy items is going to increase the sale also serving as fueling factor for the growth of packaged food and beverage industry across the globe. As packaged food and beverage industry is a major end user of coding and marking systems, increase in the demand of packaged food and beverage items positively impacts the growth of the coding and marking systems market.
But there is restraining factor that hinders the growth of market that is availability of substitute products with better functionality such as engraving devices is a major factor expected to hinder the global marking devices market in the next few years. Furthermore, the high price of coding and marking machines decreases their adoption by the price-sensitive industrial users from emerging economies. Therefore, high price has been identified as a major restraint in the coding and marking systems market.
Key benefits of the report:
- This study presents the analytical depiction of the marking devices market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the marking devices market share.
- The current market is quantitatively analyzed to marking devices market growth scenario.
Marking Devices Market Report Highlights
Key Market Players
Geo. T. Schmidt, Ernst Reiner GmbH & Co. KG, GiugniS.r.l., EBS Ink Jet Systeme GmbH, Cab Produkttechnik GmbH & Co KG, Amada Miyachi America, Inc., Automator International Srl, FOBA laser, Labortechs.r.o., Laser Photonics