With a CAGR of 11.1% between 2021 and 2031, the global fibre laser market is predicted to be worth US$ 3.1 billion in 2021.
Examples of rare earth elements found in fibre lasers include erbium, neodymium, ytterbium, praseodymium, thulium, dysprosium, and holmium. In the past, gas lasers used carbon dioxide or helium-neon. On the other hand, a variety of laser-related procedures use solid state lasers made of neodymium-doped yttrium aluminium garnet. Easy use, greater reliability, lack of maintenance, high stability, and integration options are some of the benefits.
In medicine, fibre lasers are used for skin conditions, cosmetic procedures, laser tattoo removal, hair removal, dentistry, and cosmetic plastic surgery. The American Society for Aesthetic Plastic Surgery estimates that more than half of costs are attributable to liposuction and eyelid surgery. 44% of the market is made up of non-surgical procedures.
High beam is used during material processing for cutting, welding, and etching. In today’s world, fibre lasers are preferred for use in the barcode, traceable label, scientific, diamond, 3D printing, and semiconductor industries. High power fibre lasers are used in metal cutting processes as a result of their unmatched ability to combine productivity and accuracy with increased cost-effectiveness. These data and insights are included in Future Market Insights’ most recent market study, “Fiber Laser Market.”
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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.
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).
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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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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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