PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1540254
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1540254
The fiber laser market to grow from USD 7.7 billion in 2024 and is expected to reach USD 12.8 billion by 2029, growing at a CAGR of 10.8% from 2024 to 2029. Fiber lasers are significantly used in the additive manufacturing, 3D printing across various industries. Fiber lasers offers high flexibility, precision and capability for processing a wide range of materials for the development of complex geometries and prototypes.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Type, Operation Mode, Output Power, Industry and Region |
Regions covered | North America, Europe, APAC, RoW |
"Continuous Wave segment segment to grow at the fastest CAGR during forecast period."
During the forecast period (2024 to 2029), Continuous wave (CW) segment is projected to grow at the fastest CAGR. Automotive, aerospace, electronics, and semiconductor industries have numerous applications of continuous wave fiber lasers. In automotive continuous wave fiber laser offers precise welding and cutting of metal parts to strong joints and minimal thermal distortion. In the electronics sector, CW fiber lasers perform engraving, marking, and micro-machining of components, ensuring high precision. Due to their continuous and stable output CW fiber lasers ensures efficient and accurate processing of a diverse range of materials, including metals, plastics, and ceramics.
"Medical segment to grow at the fastest CAGR during the forecast period."
Fiber lasers are rapidly being used in the medical field as it provides high accuracy and precision for applications such as surgery, imaging, and therapy. Fiber lasers delivers controlled, and high intensity light which allow minimal invasive procedure which results in reducing patient recovery times and also improve outcomes. Due to its precision fiber lasers allows medical professionals to target specific areas or cells without harming the surrounding tissues or organs which is critical for delicate surgeries and treatments. This is extremely useful where traditional methods are imprecise.
"Asia Pacific held the largest share of the fiber laser market in 2023."
The Asia Pacific region is driven by industrialization, technological advancements, growing end-user industries, government support, increasing investments, and emerging markets providing significant growth opportunities for the fiber laser market. Additionally, presence of key fiber laser manufacturers such as Wuhan Raycus Fiber Laser Technologies Co., Ltd. (China), Maxphotonics co.,ltd (China), research institutions, and academic centers that play crucial role in the technological progress in lasers, optics, photonics, and related fields contribute to the growth of fiber laser market. Countries like China, India, South Korea, and Japan are undergoing rapid industrialization and urbanization, which creates demand for the adoption of fiber lasers across various sectors.
Research Coverage
The report segments the fiber laser market and forecasts its size, by value & volume, based on By Type (Infrared, Ultrafast, Ultraviolet, and Visible); By Operation Mode (Contionous wave, and Pulsed); By Output Power (Low, Medium, and High); Industry (telecommunications, industrial, semiconductor & electronics, commercial, aerospace, automotive, medical, research, and other verticals, including oil & gas, iron & steel, glass, wood, retail, and plastics); and Region (North America; Europe; Asia Pacific; and RoW. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the fiber laser market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Reason to Buy Report
The report will provide market leaders and new entrants with information closes approximations of the revenue numbers for the overall fiber laser market and the subsegments. This report will help stakeholders comprehend the competitive landscape and gain deeper insights to better position their businesses and plan effective go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.