South America Fiber Laser Market is expected to reach US$ 230.97 million by 2028

PRESS RELEASE BY The Insight Partners 04 Aug 2021

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High Power Cutting and Welding Segment is Expected to be Fastest Growing During Forecast Period for SAM Region      

According to The Insight Partners market research study on “SAM Fiber Laser Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 230.97 million by 2028 from US$ 128.55 million in 2021. The market is estimated to grow at a CAGR of 8.7% from 2021 to 2028. The report provides trends prevailing in the SAM fiber laser market along with the drivers and restraints pertaining to the market growth. Escalating demand for fiber lasers in cutting applications and rising demand in various industries and emergence of industrial automation are the major factor driving the growth of the SAM fiber laser market. However, lower cutting speed when processing thicker materials hinders the growth of SAM fiber laser market.

In case of COVID-19, SAM is highly affected, especially Brazil. The governments in SAM have taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop-in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Brazil, Argentina, and Chile have witnessed huge decline in their respective trade business. In the wake of COVID-19 spread, the manufacturing companies have either shut down their manufacturing operations or reduced their production volume. For instance, Ford Motor has announced to close its three manufacturing plants in Brazil and stop producing automobiles in the South American countries due to slow sales, which has resulted in years of significant losses to the company. The country's unemployment rate is nearing 15%. Hence, the shrinking demand for automobiles in the region is depressing the growth of fiber laser market in the region.

The SAM fiber laser market has been analyzed on the basis of type, application, and country. Based on type, the market is segmented into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. The infrared fiber laser segment dominated the SAM fiber laser market in 2020 and ultrafast fiber laser segment is expected to be fastest growing during forecast period. In terms of application, the market is segmented into high power cutting and welding, fine processing, marking, and micro processing. The high power cutting and welding segment dominated the SAM fiber laser market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into Brazil , Argentina, and rest of SAM.

Coherent, Inc.; Fujikura Ltd.; IPG Photonics Corporation; Jenoptik AG; nLIGHT, Inc.; TRUMPF GmbH + Co. KG; and Wuhan Raycus Fiber Laser Technologies Co., Ltd. are among the leading companies in the SAM fiber laser market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Coherent, Inc. had launched the first switchable adjustable ring mode (ARM) fiber laser. The new Coherent HighLightTM FL-ARM with Fiber-Fiber-Switch is of a high-power (2 - 8 kW), has a dual fiber output laser that can sequentially power two separate workstations or processes. The dual fiber output delivers increased throughput in cost-sensitive, high-volume welding applications, particularly in automotive manufacturing, such as welding of doors, hang-on parts, ultra-high-strength steel components, and aluminum body frames.      

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