The fiber laser market size is projected to reach US$ 6.53 billion by 2031 from US$ 2.81 billion in 2023. The market is expected to register a CAGR of 11.1% during 2023–2031. Miniaturization portability, and green manufacturing are likely to remain a key trend in the market.
Applications for ultra-hard material-cutting machines are expanding in a number of industries, including semiconductors and electronics, mining, and defense. The ultra-hard cutting machine's integration of cutting-edge technologies, like fiber lasers, has made this possible. Fiber laser technologies are anticipated to find extraordinarily high preference after their price falls down via product development and more market competitiveness. Fiber laser technologies are recognized to be roughly thirty times speedier than electrical discharge machines.
In the present world, fiber lasers are widely used. They are frequently used in industrial settings to carry out cutting, marking, welding, cleaning, texturing, drilling, and many other tasks because of the various wavelengths they can produce. They are also employed in other industries including healthcare and telecommunication. There are numerous applications for fiber lasers in the manufacturing sector. CW fiber lasers with low to no maintenance requirements are ideal for specific heavy industry applications where efficiency and speed are especially crucial. For example, CW lasers are perfect for laser cutting, laser drilling, and laser welding. An ideal instrument for highly specialized cuts in complex shapes is a pulsed fiber laser. Such applications are driving the market growth.
Fine feature micromachining is now a crucial component of high-volume manufacturing in a variety of industries, including consumer electronics, medical devices, and automotive. Conversely, fiber lasers have emerged as the industry standard for laser marking and macro processing. The manufacturing landscape has changed as a result of laser cutting, which gives companies greater flexibility, speed, and precision. With the continuous advancement of technology, laser cutting is expected to have a bigger impact on how manufacturing and innovation are done in the future.
In terms of making accurate, high-quality cuts, the employment of laser cutters in the automotive industry has generally been viewed as effective. A multitude of materials can be quickly and effectively sliced with laser cutters. Better manufacturing times and lower costs result from this. In addition, they provide more uniformity and accuracy than conventional cutting techniques, which can lower the amount of mistakes and flaws in the finished product. Since precise cuts enable the effective use of raw materials, the use of laser cutters can also help to minimize material waste. Because of their small size, fiber laser cutters may be easily integrated into current production processes and take up less floor area.
Key segments that contributed to the derivation of the fiber laser market analysis are type and application.
The geographic scope of the fiber laser market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific holds a significant share of the fiber laser market in 2023. The region has a major manufacturing hub and a well-established automotive industry. Fiber lasers find major applications in these industries for precision manufacturing, thus driving the growth in the region.
The regional trends and factors influencing the Fiber Laser Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Fiber Laser Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2.81 Billion |
| Market Size by 2031 | US$ 6.53 Billion |
| Global CAGR (2023 - 2031) | 11.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Fiber Laser Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Fiber Laser Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The fiber laser market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the fiber laser market are listed below:
The “Fiber Laser Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific dominated the fiber laser market in 2023.
Rising demand for precision manufacturing and advancements in fiber laser technology are expected to drive the fiber laser market.
Miniaturization, portability, and green manufacturing are likely to remain key trends in the market.
Active Fiber Systems GmbH, IPG Photonics Corporation, Fujikura Ltd., Convergent Photonics, Coherent, Inc., Jenoptik AG, Maxphotonics Co,.Ltd, nLIGHT, Inc., TRUMPF GmbH + Co. KG, and Wuhan Raycus Fiber Laser Technologies Co., Ltd. are among the leading payers operating in the fiber laser market.
The fiber laser market size is projected to reach US$ 6.53 billion by 2031
The fiber laser market is expected to register a CAGR of 11.1% during 2023–2031