Authored By: Sarah
15 Sep 2023

Fiber Laser Market Share will Witness a YOY Growth Rate of 10.05% in 2022 

The fiber laser market share is expected to grow at a CAGR of 11.05 between 2022 and 2027. The increasing demand for high-powered fiber lasers and the growth of the three-dimensional (3D) printing market provides a promising ground for the fiber laser market. 

The demand for high-powered pulse lasers is increasing due to the growing number of applications where fiber lasers can be used. The high-powered fiber lasers are increasing used for the testing of non-destructive materials which evaluate the properties of a material, component, or system without causing any damage.

Technavio’s analysis on “Fiber Laser Market by Application, Product type, and Geography - Forecast and Analysis 2023-2027” projects that the market share is expected to increase by USD 8780.64 million at an accelerating CAGR during 2023-2027.

Fiber Laser Market Share will Witness a YOY Growth Rate of 10.05% in 2022

Material Processing to be the Fastest-Growing Fiber Laser Market Segment 

The fiber laser market is segmented by application (material processing, advanced applications, healthcare, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The growth of this segment is primarily attributed to the increasing adoption of the Fiber Laser by residential consumers, which is driven by changing lifestyles and a growing preference for comfort. North America is projected to contribute 30% by 2027. Factors such as the presence of major aerospace and defense firms in the US, such as Lockheed Martin, BAE Systems, Temporal Defense Systems, and Raytheon is reasons for the growth of the market in North America.

Dependence on a Limited Number of Suppliers Pose a Significant Challenge 

Dependence on a limited number of suppliers has become a major challenge to the adoption of fibre laser. Owing to the limited number of suppliers in the market, vendors are facing the constant challenge of shortage in raw material supply. Factors such as uncertain global economic conditions create a persistent fluctuation in the prices of commodities and currency values, thereby creating an imbalance in the global market, which affects both the suppliers and the manufacturers.

Major Fiber Laser Market Vendors 

The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.  

Some of the major fiber laser market vendors are Amonics Ltd, Apollo Instruments Inc., Coherent Corp., CY , aser Srl, FANUC Corp., Furukawa Electric Co. Ltd., Hypertherm Inc., IPG Photonics Corp., Jenoptik AG, LNA , aser Technology, Lumentum Holdings Inc., LUMIBIRD SA, MACSA ID SA, MKS Instruments Inc, NKT AS, OMRON Corp., TOPTICA Photonics AG, TRUMPF SE Co. KG, Wuhan Raycus Fiber Laser Technologies Co. Ltd. 

Amonics Ltd- The company offers B2C e commerce services such as BENGOO G9000 Stereo Gaming Headset for PS4 PC Xbox One PS5 Controller and other headsets. 

Download the Free PDF Sample Report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.   

Key Data Covered in the Fiber Laser Market Report  

  • Precise market size estimation during the forecast period 2023-2027. 

  • CAGR of the fiber laser market forecast during 2023-2027.  

  • Market-level data on units, average selling prices, and values of the fiber laser market share.  

  • Prediction of the upcoming trends, drivers, and factors that challenge the fiber laser market.  

  • Fiber laser market growth across APAC, North America, Europe, Middle East and Africa, and South America.

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