Fiber Laser Market Size to grow by USD 4.05 billion between 2024-2028
According to a research report “ Fiber Laser Market” by Product (Continuous wave fiber laser, Pulsed fiber laser) Application (Material processing, Advanced applications, Healthcare, Others) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 4.05 billion, at a CAGR of 11.43% during the forecast period. The global fiber laser market is experiencing significant growth due to the escalating demand for high-powered pulse lasers. This trend is driven by the expanding range of applications for fiber lasers, which now include non-destructive testing (NDT) of materials. Notably, high-powered fiber lasers accounted for approximately 60% of IPG Photonics Corp.'s total revenue in 2020. The increasing adoption of fiber lasers for NDT, which allows for the evaluation of material properties without causing damage, is fueling their market expansion across various industries..
Browse market data tables, figures, and in-depth TOC on “Fiber Laser Market” by Product (Continuous wave fiber laser, Pulsed fiber laser) Application (Material processing, Advanced applications, Healthcare, Others) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Product, the Continuous wave fiber laser segment is projected to dominate the market size in 2024
The CW fiber laser segment holds the largest market share in the global fiber laser market, driven by their consistent output and extended operational duration. Continuous wave (CW) fiber lasers, a subset of diode-pumped solid-state (DPSS) lasers, utilize doped fiber optic cables as the gain medium instead of crystals. Neodymium, erbium, and other rare earth elements are commonly used as doping agents. These lasers are extensively employed in various industries such as laser radar, life sciences, material processing, microelectronics, scientific research, and mid-IR laser pumps due to their superior performance characteristics.
By Application, Material processing segment is expected to hold the largest market size for the year 2024
In the fiber laser market, material processing is the leading segment, accounting for a significant market share in 2023 and expected to remain dominant throughout the forecast period. This segment encompasses various applications such as cutting, welding, engraving, and marking of diverse materials. The material processing segment is further categorized into high power, marking, fine processing, and micro-processing. High power, which comprises cutting and welding applications, is the primary driver of the material processing market segment. This segment involves the processing of materials like steel, brass, aluminum, copper, glass, and plastics, which are extensively utilized in industries such as automotive for manufacturing components like door panels, seat backs, and vehicle body parts through laser welding.
North America is forecasted to hold the largest market size by region in 2024
The North American region dominated the global fiber laser market in 2022, accounting for the largest market share, and is anticipated to lead the market growth during the forecast period. This growth can be attributed to the presence of significant aerospace and defense firms in the US, including Lockheed Martin, BAE Systems, Temporal Defense Systems, and Raytheon. These companies are investing heavily in various sectors to innovate and manufacture advanced weapons and defense systems. Notably, the US government's FY2023 military budget proposal, amounting to USD780 billion, represents a 5% increase compared to the previous year, indicating substantial investment in defense technology.
The Fiber Laser Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Fiber Laser Market is experiencing significant growth due to the increasing demand for ultrafast laser technologies in various industries. Fiber lasers utilize flexible fiber light, which can be modulated into different modes such as ultraviolet (UV) and infrared. These lasers are widely used in laser marking applications due to their high optical quality and precision. Fiber lasers operate using different techniques like mode-locked and Q-switched, providing various output powers and beam qualities. Bilk optics and fiber Bragg gratings are used for beam shaping and manipulation, while five-axis beam manipulators enable complex laser processing. The active gain medium in fiber lasers is typically made of rare-earth elements like Neodymium, Ytterbium, Erbium, Holmium, Thulium, Praseodymium, and Dysprosium, doped in silica glass. Ultrafast fiber lasers use pulsed lasing techniques like Four-wave mixing and Stimulated Raman scattering, while Doped fiber amplifiers enhance the power of these lasers. Fiber lasers offer advantages like high beam quality, efficiency, and flexibility. They are used in various industries, including automotive, aerospace, medical, and electronics, for applications like cutting, welding, marking, and micro-machining. With continuous advancements in technology, the Fiber Laser Market is expected to grow further in the coming years.
Market Research Overview
The Fiber Laser Market is witnessing significant growth due to its versatility in various industries such as automotive, semiconductor & electronics, healthcare, military, and more. Fiber lasers are used in car body scanning, tube welding, power train welding, 3D cutting, tube cutting, flat sheet cutting, and more. Micro processing and fine processing applications like micro drilling, micro machining, surface cleaning, thin-film sputtering, and cables are also utilizing fiber lasers. UV fiber lasers and visible fibers are used in white plastics and UV fiber lasers for specific applications. Ultrafast fiber lasers, including ultraviolet (UV) and infrared, offer high optical quality and powerful output power. Carbon-dioxide lasers and plasma torches are being replaced by fiber lasers in thin metal cutting. The largest share of the fiber laser market is held by pulsed lasers, which are used in cutting applications, 3D printing, machining tools, engine parts, plates, printed circuits, and more. The fiber laser market is driven by vibrational stability, bilk optics, laser diodes, silica glass, mode-locked, Q-switched, and various rare-earth elements used as active gain media. Five-axis beam manipulators, active-guard technology, protective housing, emission indicator, attenuator, physical beam stop, and other advanced features make fiber lasers a preferred choice for various industries. Nonlinear optical effects and processing devices like thin sheet cutting, chemical etching, and solid-state laser cutting are also gaining popularity in the fiber laser market.
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