According to the latest report by IMARC Group, titled "Fiber Laser Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global fiber laser market reached a value of US$ 2.3 Billion in 2021. The fiber laser refers to a variation on the standard solid-state laser that utilizes optical fiber doped in rare-earth elementsas a gain medium. The widespread utilization of rare earth elements provides a cost-effective diode laser pump source, along with a high-power output.It is an integral part of laser marking systems as it is reliable, compact, electrically- and opticallyefficient. Moreover, it offers excellent beam quality and high peak energy. It also aids in achieving high dimensional accuracy in manufactured electronic products. Apart from this, fiber lasers are characterized by excellent precision, superior stability, and superior resistance to environmental disturbances.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fiber Laser Market Trends:
The global market is majorly driven by the increasing product utilization in the electrical and automotive industries. Since these fibers are characterized by a large surface-to-volume ratio that facilitates quick dissipation of thermal energy while ensuring improved efficiency, this is providing a boost to the uptake of fiber lasers across the globe. Moreover, the widespread preference for the miniaturization of integrated circuits (ICs) and wafers is creating a positive outlook for the market. The market is further driven by continual technological advancements that aim at developing high-quality laser beams for fine material processing, especially in electronics engineering applications. Numerous manufacturers are also focusing on introducing automated and energy-efficient fiber laser solutions for replacing traditional chemical etching and ink-based printing methods. They are also engaging in research and development (R&D) activities to lower the overall cost of production and launch environment-friendly laser technologies in the market, which is acting as a major growth-inducing factor. Some of the other factors contributing to the market growth include the rising trend of green manufacturing and the growing product application in medical sciences. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 10.44% during 2022-2027.
- On the basis of the type, the market has been divided into infrared, ultraviolet, ultrafast, and visible fiber laser.
- Based on the application, the market has been divided into cutting, welding, marking, fine and micro processing, medical, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include ABB Ltd., Amonics Limited, Apollo Instruments Inc., Coherent Inc., Cy-laser S.r.l., IPG Photonics Corporation, MKS Instruments Inc., Omron Corporation, NKT Photonics A/S, Toptica Photonics and Trumpf GmbH Co. KG.
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