The Business Research Company’s Fiber Lasers Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, April 19, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Rise in disposable income drives the growth of automobile and mobile electronics industries which results in growth of the fiber laser market. According to CEIC Data, there has been a 10% rise in disposal income in India which led to growth of automobile and mobile electronics industries. Thus, automobile and mobile electronics markets are growing at a rapid pace and the use of fiber lasers becomes indispensable to sustain the growth, driving the laser technology market. A fiber laser is used for labelling, cutting, and welding automobile parts. Use of fiber lasers make it easier and more convenient for cutting small and complex automobile parts. Mobile electronics devices are getting more compact day by day and thus the electronic industry also requires fiber lasers to cut lean and fragile electronic parts. For instance, fiber laser market analysis shows that companies such as Laserline, Trumpf, and Coherent are developing fiber lasers specially focused on the automobile industry.
Fiber lasers are used for welding, cutting and other material processing. A fiber integrates beam delivery and laser cavity into a single system inside an optical fiber wherein the beam is generated within the fiber, unlike the conventional lasers.
The fiber lasers market covered in this report is segmented by type into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser. The fiber laser market is also segmented by application into marking, micro processing, high power, fine processing and by end use into material processing, healthcare, others.
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The global fiber lasers market is expected to grow from $2.17 billion in 2020 to $2.36 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global fiber laser market is expected to reach $3.4 billion in 2025 at a CAGR of 9.6%.
Major players with fiber laser market shares are Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation and Jenoptik Laser GmbH.
Fiber Lasers Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides fiber lasers market overview, forecast fiber lasers market size and growth for the whole market, fiber lasers market segments, and geographies, fiber lasers market trends, fiber lasers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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