The global fiber laser market stood at US$ 3.1 Bn in the year 2021 and is expected to witness a noteworthy CAGR of 11.1% between 2021 and 2031.
Fiber laser comes doped with rare-earth elements like erbium, neodymium, ytterbium, praseodymium, thulium, dysprosium or holmium. The gas lasers conventionally use carbon dioxide or helium-neon. On the other hand, crystal lasers (neodymium-doped yttrium aluminum garnet) are utilized for solid state laser in several laser-related operations. The advantages include easy usage, higher reliability, operation free of maintenance, high stability and integration capability.
The application areas of fiber laser include medical surgeries encompassing hair treatment, cosmetics, laser tattoo removal, skin diseases, dentistry, and aesthetic plastic surgery. As per the American Society for Aesthetic Plastic Surgery, eyelid surgery and liposuction contribute for over 50% of overall expenditures. Non-surgical procedures hold 44% of the market share.
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Material processing makes use of high beam for cutting, welding, and etching. These days, fiber lasers are preferred in barcodes, traceable labels, scientific research, diamond industry, 3D printing, and semi-conductor industries. High power fiber laser is being used in metal cutting operations as an outcome of the unparalleled combination of productivity and precision with higher cost-effectiveness. Future Market Insights has enlisted these facts with insights in its latest market study entitled ‘Fiber Laser Market’.
Key Takeaways from Fiber Laser Market
- North America is expected to witness a CAGR of 10.9% in the fiber laser market due to the US being a hub of automotives and consumer electronics.
- Coming to Europe, Germany leads from the front due to an ever-increasing demand for ICs and semiconductors. It is also subject to fast adoption of compact laser cutting and welding machines. Also, as per Federal Motor Transport Authority, over 394,000 electric cars were registered in Germany in the year 2020 alone. Modern automotives are also seen using LiDAR system.
- The Asia-Pacific is expected to grow at the fastest rate in the fiber laser market, led by Japan. The country is emphasizing on usage of fiber lasers to produce body panels.
- Continuous wave fiber laser holds the largest market share and is expected to continue with its winning streak (~70%) in the near future.
“With flourishing material processing vertical, the global fiber laser market is bound to grow on an astonishing note in the near future”, says an analyst from Future Market Insights.
- IPG Photonics Corporation, in November 2018, announced releasing next generation high power lasers. They do come with multi-year service-free operation and claim to be having the least weight.
- Videojet Technologies, in March 2021, tabled ‘Lightfoot’ fiber laser solution to facilitate high speed beverage canning. It does combine standard reliability on the part of videojet fiber laser and dual Lightfoot marking heads’ high speed for meeting every need pertaining to beverage production and canning.
- LVD, in November 2020, came up with a novel large-format fiber laser cutting machine termed as ‘Taurus’, which is particularly designed to suffice extra-large sheet metal cutting capacity. In other words, machine is able to laser cut a broad range of parts, thereby optimizing usage of material and increasing productivity.
- Coherent, in June 2020, tabled a novel 4000 w ‘Highlight FL4000CSM-ARM’ fiber laser conducive to automotive applications. The system paves the way for advanced welding capabilities to cater to tough metals and also aligns to the welding needs for energy storage, e-mobility, and general electric connections comprising dissimilar materials.
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What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the fiber laser market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
- The research study is based on laser type (continuous wave lasers, pulsed lasers, and Quasi Continuous Wave Laser), by output power (low power (up to 100 W), medium power (100 – 2,000 W), and high power (more than 2,000 W)), and by application (cutting, welding & other high power applications, marking, fine & micro processing, communications and advanced applications, and medical).
Key Segments Covered In Fiber laser Market Study:
By Laser Type:
- Continuous Wave Lasers
- Pulsed Lasers
- Quasi Continuous Wave Laser
- Low Power (Up to 100 Watts)
- Medium Power (100W-2,000W)
- High Power (More than 2,000 W)
- Welding & Other High Power Applications
- Fine & Micro Processing
- Communications and Advanced Applications
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Future Market Insights (ESOMAR certified 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 favor 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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