With rapidly surging need for the high-powered pulse lasers, demand for fiber laser increases. Growing economical and flexible benefits of fiber laser expands its applicability is various industries such as semiconductor, manufacturing and automotive. Low cost, eco-friendly nature and high beam quality is expected to drive the usage of fiber laser. The demand for fiber laser through 2019 is predicted to increase at a robust rate of nearly 8.8%, as projected by FMI (Future Market Insights) in its recently published report on fiber laser market. In addition, FMI forecasts the market valuation to surpass US$ 2Billion in 2019 with surging usage of UV lasers for the purpose of marking on the white plastics as well as cabling in the aerospace and electronics industries.
Automotive Industry holds Incremental Opportunities
FMI projects automotive industry to hold incremental opportunities for fiber laser market in 2019. Fiber laser technique has gained prominence in this sector owing to its numerous benefits such as high-end capability for working with the reflective materials without redirecting back in the laser systems. In order to attain stronger weld joints between the metals of different nature, use of fiber laser technique increases, thereby enabling manufacturers in the sector to offer product in cheaper yet stronger basis. UV fiber laser are increasingly adopted and accepted by the automotive manufacturers in brittle materials marking and precise cutting, attributing to its precise tuning, ease of integration, high performance and reliability to the OEMs and integrators.
Medical Industry to Grow at an Exponential Rate In 2019
Medical application is expected to expand at an exponential CAGR in fiber laser market with China holding a share of nearly 34.7% in 2019. Constant innovations in the fiber laser technology as well as their integration in the space-saving beam and compact delivery systems are finding wire-ranging applications for welding and marking of polymers for the medical devices. Companies such as Bystronic, manufacturer of systems for the processing of sheet metals in Switzerland has taken immense efforts in enhancing the usage of fiber laser for cutting sheetmetal, thereby integrating tube-processing and flexible options. Companies are also working towards introducing entry-level fiber laser cutters that holds properties of expensive machines with similar controls and motion.
China to Stay At the Forefront in 2019
Vendors in fiber laser market are likely to focus on China and the region is also expected to expand in 2019 at a Y-O-Y growth rate of nearly 8.5%. With rapidly increasing use of fiber laser in electronics industry for owing to rapidly rising number of consumer electronics such as TVs, tablets and smartphones, need for fiber laser increases. The regional manufacturers in fiber laser market are also taking immense efforts in making heavy investments in R&D in order to cater to growing demand for smaller products that can be produced at a faster rate, thereby increasing the power and efficiency of the products and reducing manufacturing costs.
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