BANGALORE, India, Aug. 31, 2020 /PRNewswire/ — Technological developments concerning fiber, high beam efficiency & lower ownership costs, and environmentally sustainable technology are some of the key factors driving the growth of Fiber Laser Market size.
The global fiber laser market size was USD 1,782 Million in 2017 and is projected to reach USD 4,403 Million by 2025, registering a CAGR of 11.9% from 2018 to 2025.
The Fiber Laser Market report provides an in-depth analysis of the global fiber laser market along with the current trends and future estimations to elucidate the imminent investment pockets.
TRENDS INFLUENCING THE FIBER LASER MARKET
Advanced fiber lasers are being produced with rising investment in research and development activities. These lasers have high beam efficiency and need a minimal level of maintenance. With improved laser efficiency, they are now increasingly being used for a broad range of industrial manufacturing processes, including metal cutting, welding of automotive parts, and aerospace components. The increasing efficiency of fiber lasers in the production processes will continue to increase laser technology adoption, thereby boosting the market over the forecast period.
Increased use of sheet metal in various end-use industries, such as aerospace and automotive, in the design and manufacture of lightweight automotive body panels is, in turn, expected to increase the growth of fiber laser market size. As a result of their unprecedented combination of precision, reliability, and cost-effectiveness, fiber lasers are commonly used in sheet metal cutting applications.
The fiber-laser market is rising rapidly in emerging economies with urbanization and industrialization. Emerging countries are expected to see both expansion and technological development in their processes in the coming years. This in turn is expected to fuel the growth of fiber laser market size.
The emergence of electric and hybrid vehicles has greatly increased the use of new technologies for welding, cutting, and other material processing applications. Fiber laser, which is at the forefront in terms of the pace of adoption across the automotive industry, is expected to see considerable growth in the coming years.
FIBER LASER MARKET SHARE ANALYSIS
Asia-Pacific is expected to hold the largest fiber laser market share during the forecast period. The dominance of the Asia Pacific region is attributed to the increasing large-scale manufacturing sector in countries like China, India, Japan, and other Asia-Pacific countries.
The lower deployment rate and lack of customer knowledge about fiber lasers are the factors that will hinder the growth of fiber lasers in the Middle East & Africa.
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TOP COMPANIES IN THE FIBER LASER MARKET SHARE ANALYSIS
The fiber laser market is highly fragmented, with both regional and international players trying to capture the market. High demand is being observed from the aerospace and automotive industries, which have fuelled the market’s growth for fiber lasers.
Fiber laser market vendors concentrate on developing nanosecond pulsed fiber lasers that are suitable for different types of industrial applications, including laser ablation, trimming, silicon cutting, and others. These lasers with nanosecond fiber provide a wide range of pulse repetition rates and provide greater stability and high reliability.
Top companies in the fiber laser market size are, Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, Jenoptik Laser GmbH, CY Laser SRL, NKT Photonics A/S, Quantel Group, TRUMPF, and Toptica Photonics AG.
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