Forecasting Future Trends: Insights into the Fiber Lasers Market

Posted April 3, 2024 by MadhuraTBRC

Global engine, turbine, and power transmission equipment market size is expected to reach $810.87 bn by 2028 at a rate of 8.1 %
Overview and Scope
A fiber laser is a type of device that integrates beam delivery and laser cavity into a single system inside an optical fiber wherein the beam is generated within the fiber, unlike conventional lasers. Fiber lasers are part of laser marking systems as they achieve high dimensional accuracy in manufactured electronic products. Fiber lasers are used for welding, cutting, and other material processing.

Sizing and Forecast
The fiber lasers market size has grown rapidly in recent years. It will grow from $3.76 billion in 2023 to $4.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to industrial applications, telecommunications, military and defense, medical and healthcare.

The fiber lasers market size is expected to see rapid growth in the next few years. It will grow to $6.93 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to advanced manufacturing, fiber optic communication, energy-efficiency, aerospace and defense. Major trends in the forecast period include high power fiber lasers, fiber laser cutting and welding, medical and healthcare applications, fiber laser cutting in 3d printing.

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Segmentation & Regional Insights
The fiber lasers market covered in this report is segmented –

1) By Type: Infrared Fiber Laser, Ultraviolet Fiber Laser, Ultrafast Fiber Laser
2) By Aplication: Marking, Micro Processing, High Power, Fine Processing
3) By End Use: Material Processing, Healthcare: Other End Users

Asia Pacific was the largest region in the fiber lasers market in 2023. The regions covered in the fiber lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rise in disposable income drives the growth of the automobile and mobile electronics industries which results in the growth of the fiber laser market. According to CEIC Data, there has been a 10% rise in disposable income in India which led to the growth of the automobile and mobile electronics industries. Thus, automobile and mobile electronics markets are growing at a rapid pace and the use of fiber lasers becomes indispensable to sustain the growth. Fiber laser is used for labeling, cutting, and welding automobile parts. The use of fiber lasers makes it easier and more convenient for cutting small and complex automobile parts. Mobile electronic devices are getting compact day by day and thus electronic industry also requires fiber lasers to cut lean and fragile electronic parts. For instance, companies such as Laserline, Trumpf, and Coherent are developing fiber lasers specially focused on the automobile industry.

Key Industry Players
Major companies operating in the fiber lasers market include Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, Jenoptik Laser GmbH, CY Laser SRL, NKT Photonics A/S, Quantel Group, TRUMPF SE + Co KG, Toptica Photonics AG, Lasertechnologie GmbH, Sigma Mechatronics Pvt Ltd., SPI Lasers Limited, Wuhan Raycus Fiber Laser Technologies Co Ltd., MaxPhotonics Co Ltd., Lumentum Operations LLC, nLIGHT Inc., Keopsys SA, Fujikura Ltd., Furukawa Electric Co Ltd., Newport Corporation, EO Technics Co Ltd., O.R. Lasertechnologie GmbH, Avonisys AG, Bystronic Inc., Amada Weld Tech Co Ltd., Epilog Laser, Raymond Laser, Accurl, Thorlabs Inc.

The fiber lasers market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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Issued By tbrc
Country United Kingdom
Categories Biotech
Last Updated April 3, 2024