Fiber Laser Market to Grow At 11.1% CAGR; Increasing Demand for Fiber Laser Welding Equipment from Automotive Industry will Drive Growth: FMI

The introduction of automation in the fibre laser market is expected to replace traditional operations like chemical etching and ink-based printing that are 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 fibre lasers in the upcoming decade.

Increasing demand for high process speed for welding thicker sheets of highly thermal conductive metals and growing efforts towards improving the overall efficiency and flexibility of fibre lasers will drive the market growth in upcoming years.

Fibre 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 the use of modern fibre lasers in various material processing applications will fuel sales through 2031.

The incorporation of fibre lasers with 3D printing for effective material deposition will further boost market growth. Market players are focusing on developing energy-efficient processes to minimize material consumption and lower the operational cost of fibre lasers. Fibre laser welding is used in the 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

• The North American fibre 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 the presence of leading semiconductor wafer manufacturing companies will support the European laser fibre market to grow at a 10.2% CAGR over the forecast period.
• China is expected to offer lucrative growth opportunities owing to favourable government policies to boost the manufacturing industry and increasing demand for fibre laser marking systems in the e-commerce sector in the country.
• South Korea and Japan account for 10% of the glofibreiber laser market share in 2021. Growing emphasis on the 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 the 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.   

Who Is Winning?

To expand their global reach, leading market players are focusing on diversifying their 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 a new industrial fibre laser in July 2021. The new laser has high beam quality, time stability and high efficiency.

In 2016, Domino introduced the “F720i” high-performance fibre laser at PackExpo in the U.S. It is designed to create legible and durable codes on aluminium beverage cans. With a high IP rating, the new system is capable of withstanding harsh production environments and fulfils the high-speed coding requirement of the beverage canning segment.

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Coherent Inc. completed the US$ 942 million acquisition of Rofin-Sinar Technologies in 2016. Coherent Inc. is the world’s prominent provider of lasers and laser-based technology for commercial, scientific and industrial customers and this acquisition will assist the company to expand its product portfolio.

Prominent players operating in the fibre 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.