Fiber Laser Market Size, Share, Growth, and Industry Analysis, By Type (Continuous Wave (CW) Fiber Laser, Pulsed Fiber Laser), By Application (High Power (Cutting, Welding & Other), Marking, Fine Processing, Micro Processing) and Regional Insights and Forecast to 2031

Updated On: 10 June 2024

FIBER LASER MARKET REPORT OVERVIEW

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The global fiber laser market size was USD 3215.1 million in 2022 and the market is projected to touch USD 6013.6 million by 2028, exhibiting a CAGR of 11.0% during the forecast period.

Fiber laser produces high intensity laser beam transport and a laser cavity into a single system. It uses an optical fiber as a gain medium or source of laser light amplification. Fiber laser core consists of specially designed fiber doped with rare earth elements which provide the energy levels to operate the laser.

It offers various advantages such as ease of use, high reliability, high integrability, good stability and maintenance free which are expected to boost the market growth. It offers various advantages like micro processing and optical communication which make them to flourish the market growth.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The disease has impeded the value and supply chains of many companies. Supply chains of raw materials from textile industry, finished goods of clothing and accessories, electrical equipment and automobiles has been decreased significantly. Reduced demand of product from the electronics sector has declined the market significantly. In addition, the global economy has been hampered and observing delays in planned projects in various industries.

LATEST TRENDS

"Growth Of Three-Dimensional (3D) Printing Market Leading Market Expansion"

Increasing of three-dimensional (3D) printing market is fueling the fiber laser market growth significantly. Increasing Customer’s interest in 3D printing is a trend defining the market growth. Extensive use of 3D printing in various end use industries such as automotive, aerospace, defense, consumer electronics, healthcare and several other fields. 3D printing leads to the production of highly complex structures with high degree of customization and very less waste s comparison to the traditional manufacturing processes. Many metal-based 3D printing involves multiple fiber laser sources to melt metal powder. Therefore, fiber plays a vital role in 3D printing technology. As the demand for 3D printing grows, so the demand for fiber laser will rise, such factors will positively drive the fiber laser market growth.

FIBER LASER MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Continuous Wave (CW) Fiber Laser, Pulsed Fiber Laser.

• Continuous Wave (CW) Fiber Laser: These lasers are used in processing, usually in the automotive, aviation industries because of their higher stability.

• Pulsed Fiber Laser: These are used as a doped fiber optic cable as the gain medium and provide a pulsed output which emit a continuous output beam.

By Application

Based on application the global market can be categorized into High Power (Cutting, Welding & Other), Marking, Fine Processing, Micro Processing.

• High Power (Cutting, Welding & Other) Marking: High power marking is used to etch permanent marks on electrical components such as connectors, switches and enclosures.

• Fine Processing: Fiber laser beams are used as a source in fine processing in several industries such as mirrors and electronics.

• Micro Processing: Fiber laser have the applications in micro processing of components of hardware in end use industries.

DRIVING FACTORS

"Increasing Rapid Technological Advancement In Automation, Robotics, Artificial Intelligence Will Boost The Market"

The rapid technological advancement in automation, robotics, artificial intelligence, and other digital technologies have significantly improved the efficiency, productivity and manufacturing processes of end use industries making the market grow faster. These technological advancements have led to the significant growth of factories, enables them to work faster and with more flexible production capacity. On the other hand, fiber laser gained popularity in industrial applications such as metal processing, welding and marking. Therefore, these factors increase fiber laser market growth. However, growth in demand from the aerospace and defense industries is expected to provide lucrative opportunities in the coming years.

"Increasing Use In Optical Communication Will Expand The Market Growth"

The use of laser technology in optical communication had gained momentum because of its extensive efficiency in transmitting data rather than traditional radio waves. Optical fiber can carry billions of bits of data which makes it a first choice for high-speed, high-bandwidth excellent communication systems. Fiber technology has the advantage of higher bandwidth, smaller footprint and lower cost, which favors its adoption in optical communication networks. Laser technology also plays a vital role in enabling aerial wireless communications as a means of communication, especially in vertical applications.

RESTRAINING FACTORS

"Availability Of Limited Number Of Suppliers Impede Market Growth"

Availability of limited number of suppliers is a major challenge hindering the market growth. Fiber laser supplier rely on third party supplier to provide component integrated into laser systems. Few of the hardware components are mirrors, tubes, lenses and many others. Due to limited number of suppliers, vendors are facing challenge of raw materials which in turn affects the delivery timing.  In addition, uncertain global economic conditions create fluctuations in commodity prices creating imbalance in market that affects both suppliers and producers. These factors hence restrict market growth during forecast period.

FIBER LASER MARKET REGIONAL INSIGHTS

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"Asia Pacific Dominating The Market Due To Advanced Fiber Laser Technology For Their Applications"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

In the basis of region, Asia Pacific is expected to dominate the fiber laser market share in terms of revenue in 2022 due to strong presence of electronics, automobiles machinery, aviation and metal industries. These industries rely on very advanced fiber laser technology for their applications. Fiber lasers are highly accurate, fast and versatile and have become the first choice of manufacturers hence contributing in the market growth.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The fiber laser market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• IPG Photonics (U.S.)
• Trumpf (Germany)
• Coherent (U.S.)
• Raycus (China)
• Maxphotonics (China)
• nLIGHT (U.S.)
• Lumentum Operations (U.S.)
• Jenoptik (Germany)
• EO Technics (South Korea)
• JPT Opto-electronics (China)
• Fujikura (China)

INDUSTRIAL DEVELOPMENT

January 2023: IPG Photonics has launched 3 deep ultraviolet lasers, whose patented nonlinear crystals offer stronger and flexible solutions. This strategic product launch is expected to boost IPG Photonics' fiber laser sales.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.