In 2022, it was estimated that the worldwide fiber laser market is expected to be worth US$ 3.46 billion. A few of the key factors propelling the growth of the fiber lasers sector are technological advancements connected to fiber, high beam quality as well as low ownership costs, and environmentally conscious technology. By 2023, it is therefore anticipated to have generated US$ 11.46 billion, with a CAGR of 11.5% from 2023 to 2033.
A growing number of firms are turning to fiber lasers because of their excellent efficiency and favorable return on investment, particularly in applications involving fine and micromaterial processing. The market expansion in material processing applications is anticipated to be driven by increased demand for mobile as well as smart electronic devices as well as increasing need for the downsizing of integrated circuits and wafers.
Fiber lasers are employed in marking tasks because they provide incredibly accurate marking and are adaptable to a broad range of material interfaces and end-user industries. Fiber laser marking is challenging to copy, non-contracting, and provides band protection. These elements will have a favorable impact on market expansion.
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Key Takeaways from the Market Study
- In 2022, it was predicted that continuous wave fiber lasers will generate more than 76% of all global sales.
- The material processing sector has a 32% market share worldwide in 2022.
- From 2023 to 2033, the Chinese market is projected to grow at a CAGR of 10.5%.
- Germany’s fiber laser market would exhibit a 9.4% CAGR throughout the anticipated timeframe.
- Throughout the course of the projection period, North America is anticipated to expand at a CAGR of around 11.8%.
- Through 2033, it is anticipated that the United States would hold a 72% market share in North America.
“The fiber laser market is expected to develop due to the expanding usage of fiber lasers in applications such as optical pumping, micro-cutting, 3D micro milling, surface treatment, microscopy, blind hole machining, military, as well as mobile electronics.” remarks an FMI analyst.
Competitive Landscape
According to Future Market Insights (FMI), the top five market participants in the fiber laser industry are TRUMPF GmbH + Co. KG, IPG Photonics Corporation, Wuhan Raycus Fiber Laser Technologies Co. Ltd., Lumentum Operations LLC, and Fujikura Ltd. In 2022, they had over 89% of the worldwide market share.
Market participants are concentrating on creating and manufacturing high power and environmentally friendly fiber laser systems in an effort to acquire a major competitive edge in this highly concentrated industry.
Prominent players 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.
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Some key developments of the leading companies in this market are:
- In the sector of plastic processing, Amada Press operates a press, press peripherals, as well as spring forming equipment company. Metal components are utilized in items that are essential to life, such as automobiles, residential equipment, household appliances, electrical components, precision equipment, semiconductors, medical equipment, etc. Machines and ancillary equipment used to process these components in sales services are developed and produced by Amada Press.
- Another technological firm for processing sheet metal is Bystronic. You may build a productive and sustainable future with the aid of our top-notch solutions. The whole material flow as well as data flow in the cutting and stretching process chain are being automated, which is the area of concentration. The key to attaining complete digitalization in the sheet metal sector is the intelligent connectivity of their laser cutting machines and bending equipment with cutting-edge software, automation, and service solutions.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global fiber laser market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the fiber laser market, the market is segmented on the basis of fiber by laser type (continuous wave lasers, pulsed lasers, quasi continuous wave laser), output power (low power (up to 100 watts), medium power (100W to 2,000 W), high power (more than 2,000 W)), application (cutting, welding & other high power applications, marking, fine & micro processing, communications and advanced applications, medical) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Profiled in the Global Fiber Laser Market
By Laser Type:
- Continuous Wave Lasers
- Pulsed Lasers
- Quasi Continuous Wave Laser
Output Power:
- Low Power (Up to 100 Watts)
- Medium Power (100W-2,000W)
- High Power (More than 2,000 W)
Application:
- Cutting
- Welding & Other High Power Applications
- Marking
- Fine & Micro Processing
- Communications and Advanced Applications
- Medical
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of 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 on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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