——消费级设备系列报告之七：消费级雕刻机企业xTool拟赴港IPO，建议关注产业链机会

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [7]. Core Insights - The laser engraving machine is identified as a technology-enabled personal creative tool, with xTool holding the number one market share. The market for personal creative tools is projected to grow significantly, driven by emotional consumption, the creative economy, and maker culture [2]. - The demand side is influenced by trends towards personalization and emotional value in consumption, the growth of the creative economy, and the rise of maker culture and social media [2]. - On the supply side, advancements in AI technology, integration of software and hardware ecosystems, and cost reductions from domestic supply chains are accelerating industry penetration [2]. - The global market for technology-enabled personal creative tools is expected to grow from USD 6.8 billion in 2024 to USD 39.1 billion by 2030, with a compound annual growth rate (CAGR) of 33.8% [2]. - The market for laser personal creative tools is projected to expand from USD 1 billion in 2024 to USD 3.6 billion by 2030, with a CAGR of 23.1% [2]. Summary by Relevant Sections Market Demand - The demand for personal creative tools is driven by emotional consumption, the creative economy, and maker culture, leading to a shift towards personalized and unique designs [2]. Market Supply - Innovations in AI and automation, along with the integration of software and hardware, are lowering barriers to entry and enhancing user experience [2]. Market Size and Growth - The market for technology-enabled personal creative tools is expected to grow significantly, with laser tools showing a strong growth trajectory [2]. Industry Chain - The industry chain includes upstream suppliers of core hardware, midstream product providers, and downstream users such as individual creators and small businesses [2]. Investment Opportunities - Key investment targets include laser engraving machine manufacturers like xTool and other component suppliers such as JPT and Raycus Laser [2][3].