Fiber Laser Market to Grow at a CAGR of 11.1% to reach US$ 4,765.43 Million from 2021 to 2028

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Fiber Laser Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Infrared Fiber Laser, Ultraviolet Fiber Laser, Ultrafast Fiber Laser, and Visible Fiber Laser) and Application (High Power Cutting & Welding, Marking, Fine Processing, and Micro Processing)

Publication Month: Jun 2021 | Report Code: TIPTE100000578 | No. of Pages: 147 | Category: Electronics and Semiconductor | Status: Published

The fiber laser market was valued at US$ 2286.16 million in 2021 and is projected to reach US$ 4,765.43 million by 2028; it is expected to grow at a CAGR of 11.1% from 2021 to 2028.

Automotive production is constantly rising across the world, particularly in Asian and European countries, which is driving the demand for fiber lasers. Most automotive manufacturers are rapidly turning to fiber lasers to resolve their manufacturing issues. The sector widely uses fiber laser in material processing applications such as cutting, welding, and marking, as well as other machining operations involved in auto parts manufacturing. The automotive industry is obtaining excellent results with the use of fiber lasers in electric and lightweight vehicle designs. Significant weight reduction is achieved by minimizing the size of flanges by fiber laser welding and the safety of batteries is enabled by wobble-beam fiber welding. Automotive giants such as Volkswagen, BMW, and Ford Motor Company are contributing significantly to the fiber laser market growth. Electric vehicles are gaining traction in North America, thus boosting the fiber laser market growth in the region. Countries such as the US and Canada are prominent automotive manufacturers in the region. According to the American Automotive Policy Council, automakers and their suppliers contribute ~3% to the US GDP. General Motors Company, Ford Motor Company, Fiat Chrysler Automobiles, and Daimler are among the major automotive manufacturers in North America. As per data by the International Organization of Motor Vehicle Manufacturers, in 2019, the US and Canada manufactured ~2,512,780 and ~461,370 cars, respectively.

Impact of COVID-19 Pandemic on Fiber Laser Market

The COVID-19 pandemic has been adversely affecting every business globally since December 2019. The continuous growth in the number of infected patients compelled governments to put a bar on the transportation of humans and goods. The manufacturing sector witnessed severe losses due to temporary factory shutdowns and low production volumes, which hindered the growth of the electronics & semiconductor, automotive, and retail sectors. Additionally, the social or physical distancing measures imposed by governments put limitations on the operations of logistics and other service providers. As a result, the applications of fiber laser solution across all regions are declined. Despite the disruption caused by the COVID-19 pandemic, the trade is likely to surge in the future as businesses are getting resumed after a long lockdown. With the social distancing measures in effect, the automotive, electronics & semiconductor, and other manufacturing industries have resumed their operations with less workforce capacity.

Lucrative Regions for Fiber Laser Providers

Lucrative Regions for Fiber Laser Providers

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Fiber Laser Market Insights

Rising Demand for Fiber Lasers in Cutting Applications Fuels Growth of Fiber Laser Market

The increasing cutting applications (flat sheet cutting, tube cutting, and 3D cutting) of the fiber laser systems in several areas, including aerospace (high-strength components which can withstand the pressures of outer space), military, and in other sectors for manufacturing multiple equipment, is creating a huge growth opportunity for the fiber lasers market. Fiber lasers can be used in cutting silicon for solar cells & semi-conductors, cutting parts to shape in manufacturing & industrial settings, cutting stents for the medical industry, and cutting of gems for use in the jewelry industry. Further, fiber lasers are used for cutting of stator plates and battery foils in automotive industry. Moreover, the rapid industrialization across the globe has increased the demand for pulsed fiber lasers in cutting application to replace conventional methods such as ink-based printing and chemical etching, which is anticipated to fuel the growth of fiber laser market. There is an increase in demand for fiber lasers in cutting applications due to much less power consumption than traditional cutting techniques and waste of much less material. Moreover, the whole laser cutting process is non-contact that will reduce the downtime and increase the profits due to less risk of personal injuries, no wear and tear of moving parts, and no material damage due to contact. Thus, the wide use of fiber lasers for cutting applications in multiple areas is creating huge growth opportunities for the fiber laser providers.

Type-Based Market Insights

Fiber lasers are the newest type of lasers, which serve to diverse industries across the world. The companies from the manufacturing industries are the major beneficiaries that extensively use industrial fiber laser solution in their day-to-day operations. The industrial fiber lasers offer a total control over beam intensity, duration, and heat output. The industrial fiber laser system helps manufacturers develop a product to the exact specifications of the requirement. In order to meet the requirement of various products, the fiber laser market provides several variants such as infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. Based on type, the fiber laser market is segmented into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. In 2020, the infrared fiber laser segment accounted for a significant share in the market.

Fiber Laser Market, by Type – 2020 and 2028

Fiber Laser Market, by Type – 2020 and 2028

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Application-Based Market Insights

Fiber laser technology is gaining popularity due to its numerous applications in diverse fields such as micromachining, biology and medical sciences, or telecommunications, and its potential as a substitute for solid-state lasers in industrial and technological applications. Manufacturers in the fiber laser market are increasingly investing in the research and development activities to find new and innovative techniques to develop fiber lasers. The fiber laser market is highly fragmented with the presence of several manufacturers, especially in the developing regions. Moreover, with the increasing number of manufacturers, product differentiation has become vital to gain competitive edge in the fiber laser market. In terms of application, the global fiber laser market is segmented into high power cutting & welding, fine processing, marking, and micro processing. In 2020, the high power cutting & welding segment accounted for a significant share in the market.

Strategic Insights

Report Coverage - Fiber Laser Market
Report CoverageDetails
Market Size Value inUS$ 2286.16 Million in 2021
Market Size Value byUS$ 4,765.43 Million by 2028
Growth rateCAGR of 11.1% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages147
No. of Tables61
No. of Charts & Figures73
Historical data availableYes
Segments coveredType and Application
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

The players operating in the fiber laser market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

In December 2020, TRUMPF completed the merger of its wholly owned fiber laser manufacturing subsidiary SPI Lasers into the TRUMPF group and under the TRUMPF brand. With this merger, TRUMPF integrated all-fiber laser technologies into its product portfolio.

In November 2019, Coherent, Inc. launched the first switchable adjustable ring mode (ARM) fiber laser. The new Coherent HighLightTM FL-ARM with Fiber-Fiber-Switch 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 and 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.

By Type

  • Infrared Fiber Laser
  • Ultraviolet Fiber Laser
  • Ultrafast Fiber Laser
  • Visible Fiber Laser

By Application

  • High Power Cutting & Welding
  • Marking
  • Fine Processing
  • Micro Processing

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • Active Fiber Systems GmbH         
  • IPG Photonics Corporation            
  • Fujikura Ltd.          
  • Convergent Photonics        
  • Coherent, Inc.        
  • Jenoptik AG           
  • Maxphotonics Co,.Ltd        
  • nLIGHT, Inc.           
  • TRUMPF GmbH + Co. KG    
  • Wuhan Raycus Fiber Laser Technologies Co., Ltd.

Frequently Asked Questions

The growth of the fiber laser market is primarily attributed to the Increase in Automotive Production. Automotive production is constantly rising across the world, particularly in Asian and European countries, which is driving the demand for fiber lasers. Most automotive manufacturers are rapidly turning to fiber lasers to resolve their manufacturing issues. The sector widely uses fiber laser in material processing applications such as cutting, welding, and marking, as well as other machining operations involved in auto parts manufacturing. The automotive industry is obtaining excellent results with the use of fiber lasers in electric and lightweight vehicle designs. Significant weight reduction is achieved by minimizing the size of flanges by fiber laser welding and the safety of batteries is enabled by wobble-beam fiber welding. Automotive giants such as Volkswagen, BMW, and Ford Motor Company are contributing significantly to the fiber laser market growth.
Rising demand for fiber lasers in cutting applications is providing noteworthy opportunities to the fiber laser market players. The increasing cutting applications (flat sheet cutting, tube cutting, and 3D cutting) of the fiber laser systems in several areas, including aerospace (high-strength components which can withstand the pressures of outer space), military, and in other sectors for manufacturing multiple equipment, is creating a huge growth opportunity for the fiber lasers market. Fiber lasers can be used in cutting silicon for solar cells & semi-conductors, cutting parts to shape in manufacturing & industrial settings, cutting stents for the medical industry, and cutting of gems for use in the jewelry industry. Further, fiber lasers are used for cutting of stator plates and battery foils in automotive industry. Moreover, the rapid industrialization across the globe has increased the demand for pulsed fiber lasers in cutting application to replace conventional methods such as ink-based printing and chemical etching, which is anticipated to fuel the growth of fiber laser market. There is an increase in demand for fiber lasers in cutting applications due to much less power consumption than traditional cutting techniques and waste of much less material. Moreover, the whole laser cutting process is non-contact that will reduce the downtime and increase the profits due to less risk of personal injuries, no wear and tear of moving parts, and no material damage due to contact. Thus, the wide use of fiber lasers for cutting applications in multiple areas is creating huge growth opportunities for the fiber laser providers
With the growing end-use industries across the globe, there is a continuous need of fiber lasers in industries to accomplish high level of product quality, which is boosting the demand for fiber lasers. Fiber lasers are being employed in several industries such as manufacturing, aerospace, automotive, and semiconductor & electronics for applications such as marking, engraving, printing, welding, and cutting. For example, ultraviolet (UV) fiber lasers are used for marking on white plastics and cabling in electronics and aerospace industries. Further, the UV fiber lasers are increasingly adopted for precise cutting and marking of brittle materials, owing to ease of integration, high performance, and precise tuning.

The List of Companies - Fiber Laser Market

  1. Active Fiber Systems GmbH       
  2. IPG Photonics Corporation         
  3. Fujikura Ltd.       
  4. Convergent Photonics    
  5. Coherent, Inc.    
  6. Jenoptik AG        
  7. Maxphotonics Co,.Ltd    
  8. nLIGHT, Inc.        
  9. TRUMPF GmbH + Co. KG           
  10. Wuhan Raycus Fiber Laser Technologies Co., Ltd.
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