The global sales of fiber lasers are expected to increase by year-on-year growth of 10.7% in 2021 generating sales revenue of just over US$ 3.1 Bn. Future Market Insights (FMI) expects fiber laser market to grow at healthy pace with overall sales volume reaching 115,000 Units by 2021 end. Product innovation initiatives are expected to emerge as the key trend shaping fiber laser sales.
Fiber laser technology has improved by leaps in terms of spectral coverage, output power, and ultra-short pulse width for past few years. Owing to rapid technological advancement, the area of application of fiber lasers has extended to healthcare, defense, and military domain.
Growing research and development activities towards designing high beam quality, environment friendly and low cost fiber lasers are the key growth drivers. Increasing government initiatives towards promoting green manufacturing along with initiation of Industry 4.0 will positively influence the market growth over the assessment period.
Rising adoption of novel materials and increasing concern among material manufacturers regarding its environmental impact across broad spectrum of end users is pushing manufacturers to use fiber lasers for cutting and marking applications, thus driving the market growth.
Introduction of automation in fiber laser market is expected to replace traditional operations like chemical etching and ink based printing that is used for machine marking. They are easy to use and digitization has made them compact and ideal for high power applications. These factors are expected to propel the sales of fiber lasers in the upcoming decade.
Increasing demand for high process speed for welding of thicker sheets of highly thermal conductive metals and growing efforts towards improving overall efficiency and flexibility of fiber laser will drive the market growth in upcoming years.
Fiber laser is experiencing swelling demand from aerospace industries as it offers superior beam quality, flexibility, and control over heat generation in the core through its adjustable laser geometry. Increasing use of modern fiber lasers in various material processing applications will fuel the sales through 2031.
Incorporation of fiber lasers with 3D printing for effective material deposition will further boost the market growth. Market players are focusing on developing energy efficient processes to minimize material consumption and lower the operational cost of fiber lasers. Fiber laser welding are used in manufacturing of low cost and highly reliable batteries for electric vehicles. These factors will aggrandize the market growth over the decade.
Key Takeaways from FMI’s Fiber laser Market Study
- North America fiber laser market is forecast to grow at 10.9% CAGR through 2031, backed by rising industrialization and increasing production of consumer electronics in the country.
- Increasing production of electric vehicles and presence of leading semiconductor wafer manufacturing companies will support European laser fiber market to grow at 10.2% CAGR over the forecast period.
- China is expected to offer lucrative growth opportunities owing to favorable government policies to boost the manufacturing industry and increasing demand for fiber laser marking system in e-commerce sector in the country.
- South Korea and Japan account for 10% of global fiber laser market share in 2021. Growing emphasis towards miniaturization of electronic components is the key growth driver in these countries.
- IPG Photonics Corporation, TRUMPF GmbH + Co. KG, Lumnetum Operations, LLC, Wuhan Raycus Fiber Laser Technologies Co., Ltd. and Fujikura Ltd. are the top five market players and they collectively account for 90% of global market share in 2021.
“Quasi continuous wave fiber laser will remain highly sought-after owing to its ability to generate high peak power and high reliability, while welding dissimilar metals and metals with high thermal conductivity,” says the FMI analyst.
For More Details, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-8174
Who Is Winning?
In order to expand their global reach, leading market players are focusing towards diversifying the product portfolio by introducing new products into the market. They are actively collaborating with existing players to gain maximum market share.
For instance, Furukawa launched new industrial fiber laser in July 2021. The new laser has high beam quality, time stability and high efficiency.
In 2016, Domino introduced “F720i” high performance fiber laser at PackExpo in U.S. It is designed to create legible and durable codes on aluminium beverage cans. With high IP rating, the new system is capable of withstanding harsh production environments and fulfills high speed coding requirement of beverage canning segment.
Coherent Inc. completed the US$ 942 million acquisition of Rofin-Sinar Technologies in 2016. Coherent Inc. is world’s prominent providers of lasers and laser-based technology for commercial, scientific and industrial customers and this acquisition will assist the company to expand their product portfolio.
Prominent players operating in the fiber laser market are:-
- IPG Photonics Corporation
- TRUMPF GmbH + Co. KG
- Maxphotonics Co. Ltd.
- Coherent Inc.
- Newport Corporation
- Wuhan Raycus Fiber Laser Technologies Co. Ltd.
- Lumentum Operations LLC
- Fanuc Corporation
- Furukawa Electric Co. Ltd.
- Keopsys S.A.
- Fujikura Ltd.
- NLIGHT Inc.
More Insights on the Global Fiber laser Market
In its latest report, FMI offers an unbiased analysis of the global fiber laser market, providing historical data for the period of 2019-2027 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of basis of laser type (continuous wave fiber laser, pulsed laser, and quasi continuous wave fiber laser), output power (low power (up to 100 watts), medium power (100W-2,000 W), and high power (more than 2,000 W)), application type (cutting, welding & other high power applications, marking, fine & micro processing, communications and advanced applications, and medical), across seven major regions (North America, Latin America, Europe, Asia Pacific, China, and Middle East and Africa)