Fiber Laser Market Strategies, Trends, and Forecast by 2031
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.
Fiber Laser Market Analysis
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.
Fiber Laser Market Overview
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.
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Fiber Laser Market: Strategic Insights
Market Size Value in US$ 2286.16 Million in 2021 Market Size Value by US$ 4,765.43 Million by 2028 Growth rate CAGR of 11.1% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Fiber Laser Market: Strategic Insights
| Market Size Value in | US$ 2286.16 Million in 2021 |
| Market Size Value by | US$ 4,765.43 Million by 2028 |
| Growth rate | CAGR of 11.1% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Fiber Laser Market Drivers and Opportunities
Rising Demand for Precision Manufacturing to Favor the Market
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.
Rising Applications in the Automotive Industry
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.
Fiber Laser Market Report Segmentation Analysis
Key segments that contributed to the derivation of the fiber laser market analysis are type and application.
- Based on the type, the fiber laser market is divided into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. The infrared fiber laser segment held the largest share in 2023.
- Based on the application, the market is divided into high-power cutting & welding, marking, fine processing, and micro-processing.
Fiber Laser Market Share Analysis by Geography
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.
Fiber Laser Market Report Scope
Fiber Laser Market News and Recent Developments
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:
- High-tech company TRUMPF has acquired an 80 percent stake in Active Fiber Systems GmbH (AFS), a company based in Jena, Germany, that specializes in fiber lasers. AFS develops and manufactures ultrashort-pulse laser systems and fiber-laser systems used primarily in science and research. In addition to basic research, its areas of application include the generation of extremely short-wavelength light with high coherence, biomedical imaging and material processing. (Source: TRUMPF, Press Release, February 2022)
- IPG Photonics Corporation (NASDAQ: IPGP), the world leader in fiber laser technology, will highlight new and innovative laser solutions at The Battery Show from September 12-14, 2023, in Novi, Michigan, USA. IPG will introduce a new Adjustable Mode Beam (AMB) laser source capable of achieving a 3 kW single-mode laser beam in the core. An industry first, this increase in single-mode power offers unprecedented speed and productivity improvements for battery welding with spatter-free welding speeds up to 2X faster than possible with lower core powers. (Source: IPG Photonics Corporation, Press Release, August 2023)
Fiber Laser Market Report Coverage and Deliverables
The “Fiber Laser Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Fiber laser market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Fiber laser market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Fiber laser market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the fiber laser market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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