PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1565697
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1565697
Fiber Laser Market size was evaluated at USD 7,851.2 million in 2023, rising at a CAGR of 12.20% between 2024 and 2032.
A fiber laser is a solid-state laser that generates a high-intensity laser beam through stimulated emission. The laser employs an optical fiber as a gain medium or source of laser light amplification. A fiber laser's core is a custom-made optical fiber doped with rare-earth elements like erbium, ytterbium, or neodymium. These dopants provide the energy levels necessary for the laser to function. The fiber is wrapped by a cladding layer that helps to trap and channel light inside the core.
Fiber Laser Market- Market Dynamics
Rising Aerospace Industry Drives Fiber Lasers Market Growth
The increasing aerospace industry is projected to drive future growth in the fiber lasers market. The aerospace industry is an area of technology and engineering concerned with the design, development, manufacture, and maintenance of airplanes, spacecraft, and related systems and equipment. Fiber lasers are used to create holes in airplane components such as turbine blades, engine parts, and landing gear. Fiber lasers outperform traditional lasers in the aerospace industry due to their higher power output, greater beam quality, and dependability. They also improve precision and speed, which are important in the aerospace industry. For instance, Airbus SE, a Netherlands-based aerospace manufacturer, supplied 661 commercial aircraft to 84 customers in 2022, representing an 8% increase over the 611 planes sold in 2021. As a result, the rising aerospace industry is driving the expansion of the fiber lasers market.
Fiber Laser Market- Key Insights
According to our research analyst, the global market is expected to increase at a CAGR of approximately 12.20% between 2024-2032.
Based on type segmentation, infrared accounted for the majority of the market in 2023.
Based on Labeling Output Power segmentation, High-power is the most prominent segment in terms of market share.
According to region, North America had the most revenue in 2023.
The global release liner market is divided into four groups: Type, labeling Output Power, printing Operation Mode, and geography.
The market is segmented into four divisions based on the type: Ultraviolet Fiber Laser, Ultrafast Fiber Laser, Infrared Fiber Laser, And Visible Fiber Laser. The infrared category dominated the market in 2023 because to its widespread applications in industries such as aerospace, automotive, and medical. Infrared lasers are critical in manufacturing operations such as cutting, welding, and others because they give the precision and power required to work with a wide range of materials. In addition, infrared lasers are used in telecommunications to transport data across vast distances with minimum signal loss.
The market is classified into three segments depending on the Labeling Output Power: Low, Medium, and High. High power has the biggest market share. High-power fiber lasers are well known for their superior performance and ability to generate significant laser power output in demanding industrial applications. High-power fiber lasers, which can cut through thick materials with precision and efficiency, have become the favored choice in industries such as automotive, aerospace, and heavy machinery manufacturing.
Fiber Laser Market- Geographical Insights
This market is geographically diversified across Europe, the Middle East, North America, Asia Pacific, and Africa, Latin America. The regions are further divided by the nations that bring commerce.
The North American fiber laser market has the largest revenue share in the worldwide market due to its superior industrial infrastructure and robust technological ecosystem. The region's enormous investments in industrial and telecommunications infrastructure are fueling the increasing demand for these technologies. Furthermore, North America is home to various large corporations, like IPG Photonics Corporation, Coherent Corp, and others, which assist the area in achieving the biggest market share. Furthermore, as the region's vehicle production increases, so does the demand for fiber lasers, which are used in automobile production.
The Asia Pacific fiber laser market is predicted to grow at a high CAGR over the forecast period, owing to fast industrialization and expanding manufacturing bases, particularly in China, Japan, and South Korea. China's expanding electronics, automotive, and metalworking industries are driving market growth, since fiber lasers are widely employed in car manufacturing and metalworking. Furthermore, significant investments in telecommunications infrastructure and developments in medical technology have enhanced the need for these laser solutions in the region.
Major competitors in the Fiber Laser market, such as ABB, IPG Photonics Corporation, MKS Instruments, Amonics Ltd, Coherent Corp, and others, are investing in R&D to boost market demand. Market participants are also investing in a number of strategic activities to grow their global footprint. Significant market developments include new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To grow and prosper in a more competitive and expanding market, the Fiber Laser industry must offer cost-effective solutions.
In January 2023, IPG Photonics released three deep ultraviolet (Deep UV) lasers using its patented non-linear crystals, which provide more robust and adaptable solutions for micromachining applications than lasers using traditional frequency conversion materials. This strategic product introduction is expected to improve IPG Photonics' sales of fiber lasers.