The market for fibre lasers will expand favourably, and in 2021, it’s expected to reach a total value of more than US$ 3.1 billion. Between 2021 and 2031, the market’s value will grow at a compound annual growth rate (CAGR) of 11.1%.
After experiencing tepid growth in 2020, global sales are predicted to increase by 10.7% in 2021. With shipments approaching 115,000 units, FMI offers a promising outlook for the market’s future growth.
IPG Photonics Corporation is expected to hold about 50% of the global market share in 2021, followed by TRUMPF GmbH & Co. KG with 17%, Lumnetum Operations LLC AG with 8%, Wuhan Raycus Fiber Laser Technologies Co. Ltd. with 9%, and Fujikura Ltd. with 4%.
Driving Demand for Fiber-Laser Devices
Because of their high productivity and favourable returns on investment, particularly in applications involving fine and micromaterial processing, fibre lasers are growing in popularity among manufacturers. The market growth in material processing applications is anticipated to be driven by rising demand for mobile and smart electronic devices as well as increasing demand for the miniaturisation of integrated circuits and wafers.
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Since they provide extremely precise marking and are applicable to a wide range of material surfaces and end-user industries, they are used in marking applications. Fiber laser marking is challenging to copy, non-contracting, and provides band protection. These elements will have a favourable impact on market expansion.
Printed circuit boards, plates, engine components, machining tools, and many other items are marked with them. The development of modular designs and flexible machine concepts using 3D printing will increase through 2031, accelerating the growth of the fibre laser market.
In the near future, there will be a high demand for potent fibre lasers to process thicker materials and remove unwanted pulse pedestals, opening up new business opportunities for market participants.
Demand for Fiber Lasers is increasing in China.
Because of the rising demand for high-power cutting options and fabricated metal products, China is predicted to generate lucrative growth opportunities in the fibre laser market. Increased industrialization and manufacturing activities in the country have increased demand for fibre lasers.
The main factor influencing the demand for fibre laser in the nation is the Chinese government’s adoption of the “Made in China” industrial strategy, which aims to modernise its manufacturing sector and make it the world’s factory by 2025. China continues to be among the top producers of semiconductors, making it a lucrative market for industry players.
A significant portion of China’s GDP is contributed by the metal fabrication industry (GDP). Fiber laser metal cutting is a crucial step in the production of fabricated metal goods and is anticipated to profit from new industrial regulations put forth by the government.
Over the course of the forecast period, the Chinese market will experience significant growth in the use of fibre lasers for metal cutting and sheet metal and thin material welding.
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In Germany, there is a significant opportunity for fibre laser sales.
Due to the rising demand in the semiconductor and integrated circuit manufacturing industries, the fibre laser market in Germany will experience significant growth during the forecast period.
Modern manufacturing industries are looking to adopt portable laser cutting and welding equipment to increase productivity as a result of advancements in manufacturing technology. The country’s demand for fibre lasers is being driven by an increase in the demand for small electronic components.
Fiber lasers are frequently used in the production of automobile bodies for thin metal welding, high-precision cutting, and perforation of semiconductor wafers and electronic circuits. The demand for integrated circuits will rise as the market for fibre lasers in Germany expands as a result of rising demand for electric and autonomous vehicles.
The Federal Motor Transport Authority (KBA) reported in its 2020 report that there were more than 394,000 electric vehicles registered in Germany. The country’s market will grow favourably as light detection and ranging (LiDAR) systems are increasingly used in contemporary automobiles.
Germany is regarded as a major European market by FMI analysis, and it is anticipated that it will continue to have a high demand for fibre lasers throughout the forecast period.
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Driving the Fiber Laser Market in the U.S.
According to FMI, North America is anticipated to grow at a CAGR of over 10.9% during the forecast period. According to the research, the U.S. is anticipated to hold the majority of the market share in North America through 2031.
One of the main factors promoting market growth in the U.S. is the existence of a highly developed industrial sector. In terms of Gross Domestic Product, the CMS Office of the Actuary calculated that the manufacturing sector makes up 10.8% of the American economy (GDP).
Additionally, the United States is a world leader in the production of consumer electronics and automobiles, making it a lucrative market for companies involved in the fibre laser industry. The country’s automotive industry is being supported by growing economic conditions and rising per capita income. An increase in automobile production will support market growth in the United States because fibre lasers are used in high-power applications like the welding of lightweight automotive body panels.
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