Fiber Laser Market: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 – 2030- The increasing demand for high-power pulsed lasers in industries such as automotive, aerospace and mobile electronics is driving the fiber laser market.
The Global Fiber Laser Market was valued at USD 2.36 Billion in 2019 and is predicted to reach USD 5.79 Billion by 2030 with a CAGR of 8.5% during the forecast period.
Fiber laser is an optically pumped device mostly used with laser diodes and in some cases with other fiber lasers. The optical fiber used in the fiber laser is doped with rare earth metals which amplify the produced light. Wide scope of application, reduced cost and improved efficiency are among key factors driving the market growth. Also, increase in demand for electric vehicles as well as the rapidly growing automobile industry are vital to the growth of the market. Moreover, investments by the big market players towards R&D and innovations are among other elements anticipated to help the market grow in future. However, reduced cutting speed during the processing of thicker materials using laser technology along with undesired pulse pedestals & non-linear optical effects are expected to hamper the growth of fiber laser market.
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The major players of the fiber laser market are Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, Jenoptik Laser GmbH, CY Laser SRL, NKT Photonics A/S, Quantel Group, TRUMPF, and Toptica Photonics AG. The other players in the value chain include O.R. Lasertechnologie GmbH, Sigma Mechatronics Pvt. Ltd., and SPI Lasers Limited.
The fiber laser market is segmented into type, application and geography. On the basis of type, the fiber laser market is segmented into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser and visible fiber laser. Ultrafast fiber laser is sub segmented into picosecond fiber laser and femtosecond fiber laser. Visible fiber laser is sub segmented into Quasi-CW green fiber lasers and nanosecond fiber lasers. On the basis of application, the fiber laser market is segmented into high power, marking, fine processing and micro processing. High power is sub segmented into cutting and welding & others. Cutting is further categorized into flat sheet cutting, tube cutting and 3D cutting. Welding and others is further categorized into power train, tube welding, car body scanner welding, car body seam welding and others. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
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Recent analysis indicate that Asia-Pacific is leading in the global fiber laser market due to the expansion of the large-scale manufacturing sector in countries such as China, India, Japan, and other Asia-Pacific countries. Also, increasing investment by the leading manufacturers owing to lower labor costs and availability of raw materials at affordable prices are expected to boost the market growth in this region. Strategic collaborations and innovative product launches are commonly adopted strategies used by the key players to maintain their market dominance. For instance, in November 2020, IPG Photonics Corporation has launched the LightWELD hand-held laser welding system that enables fast welding and high-quality results in a variety of materials and thicknesses, with low heat input and little or no filler wire.
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