The fibre laser market will register positive growth with the overall valuation forecast to surpass US$ 3.1 Bn in 2021. The market’s worth will increase at a compound annual growth rate (CAGR) of 11.1% between 2021 and 2031.
Growing research and development activities towards designing high beam quality, environment-friendly and low-cost fibre lasers are the key growth drivers. Increasing government initiatives towards promoting green manufacturing along with the initiation of Industry 4.0 will positively influence the market growth over the assessment period.
Global sales are expected to rise at 10.7% in 2021 after a period of tepid growth in 2020. With shipments reaching nearly 115,000 units, FMI presents a positive growth outlook for the market.
The global sales of fibre 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 the fibre laser market to grow at a 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 fibre laser sales.
To Get a Sample Copy of the Report visit: https://www.futuremarketinsights.com/reports/sample/rep-gb-8174
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.
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.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-gb-8174
“Quasi-continuous wave fibre 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.
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.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
United Arab Emirates
For Sales Enquiries: email@example.com