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The advent of automation in the fiber laser industry is likely to replace traditional machine marking activities such as chemical etching and ink-based printing. They are simple to use, and digitalization has reduced their size, making them excellent for high-power applications. Fiber laser sales are likely to soar in the coming decade as a result of these causes.
In the next years, the market will be driven by rising demand for high process speeds for welding thicker sheets of highly thermally conductive metals, as well as increasing efforts to improve the overall efficiency and versatility of fiber lasers.
In 2021, global sales of fiber lasers are predicted to expand by 10.7% year over year, producing sales revenue of a little over US$ 3.1 billion. The fiber laser market is expected to develop at a strong rate, with global sales volume reaching 115,000 units by the end of 2021, according to Future Market Insights (FMI). The primary trend shaping fiber laser sales is projected to be product innovation activities.
Fiber laser technology has improved by leaps in terms of spectral coverage, output power, and ultra-short pulse width for the past few years. Owing to rapid technological advancement, the area of application of fiber lasers has extended to the healthcare, defense, and military domain.
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Growing research and development activities towards designing high beam quality, environment-friendly and low-cost fiber lasers are the key growth drivers. Increasing government initiatives towards promoting green manufacturing along with the initiation of Industry 4.0 will positively influence the market growth over the assessment period.
Rising adoption of novel materials and increasing concern among material manufacturers regarding its environmental impact across a broad spectrum of end-users is pushing manufacturers to use fiber lasers for cutting and marking applications, thus driving market growth.
Fiber laser is experiencing swelling demand from aerospace industries as it offers superior beam quality, flexibility, and control over heat generation in the core through its adjustable laser geometry. Increasing the use of modern fiber lasers in various material processing applications will fuel sales through 2031.
The incorporation of fiber lasers with 3D printing for effective material deposition will further boost market growth. Market players are focusing on developing energy-efficient processes to minimize material consumption and lower the operational cost of fiber lasers. Fiber laser welding is used in the manufacturing of low-cost and highly reliable batteries for electric vehicles. These factors will aggrandize the market growth over the decade.
Key Takeaways from FMI’s Fiber laser Market Study
In order to expand their global reach, leading market players are focusing on diversifying the product portfolio by introducing new products into the market. They are actively collaborating with existing players to gain maximum market share.
For instance, Furukawa launched a new industrial fiber laser in July 2021. The new laser has high beam quality, time stability, and high efficiency.
In 2016, Domino introduced the “F720i” high-performance fiber laser at PackExpo in the U.S. It is designed to create legible and durable codes on aluminum beverage cans. With a high IP rating, the new system is capable of withstanding harsh production environments and fulfills the high-speed coding requirement of the beverage canning segment.
Coherent Inc. completed the US$ 942 million acquisition of Rofin-Sinar Technologies in 2016. Coherent Inc. is the world’s prominent provider of lasers and laser-based technology for commercial, scientific and industrial customers and this acquisition will assist the company to expand its product portfolio.
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Prominent players operating in the fiber laser market are:-
More Insights on the Global Fiber laser Market
In its latest report, FMI offers an unbiased analysis of the global fiber laser market, providing historical data for the period of 2019-2027 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of laser type (continuous wave fiber laser, pulsed laser, and quasi-continuous wave fiber laser), output power (low power (up to 100 watts), medium power (100W-2,000 W), and high power (more than 2,000 W)), application type (cutting, welding & other high power applications, marking, fine & micro processing, communications, and advanced applications, and medical), across seven major regions (North America, Latin America, Europe, Asia Pacific, China, and the Middle East and Africa)
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the 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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