The global fibre laser market is expected to be worth US$ 3.1 billion in 2021, with a CAGR of 11.1% between 2021 and 2031.
Rare earth elements like erbium, neodymium, ytterbium, praseodymium, thulium, dysprosium, and holmium can be found in fibre lasers. Gas lasers have previously employed carbon dioxide or helium-neon. On the other hand, neodymium-doped yttrium aluminium garnet solid state lasers are employed in numerous laser-related activities. Easy use, better reliability, reduced maintenance requirements, excellent stability, and integration possibilities are some of the benefits.
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Fibre lasers are used in medicine for skin diseases, dentistry, aesthetic plastic surgery, and laser tattoo removal. The American Association for Aesthetic Plastic Surgery estimates that liposuction and surgery on the eyelids account for more than half of total costs. 44% of market activity is accounted for by non-surgical procedures.
In the process of processing materials, high beam is utilised for cutting, welding, and etching. Barcodes, traceable labels, scientific research, the diamond industry, 3D printing, and the semiconductor sector all often use fibre lasers today. High power fibre lasers are utilised in metal cutting processes due to their unrivalled ability to combine productivity and precision with lower cost effectiveness. Future Market Insights’ recent market analysis, titled ‘Fiber Laser Market,’ provides these data and insights.
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.
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Competitive Landscape
- 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.
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
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
Region:
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East and Africa
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About Us:
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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