Explosive Growth Foreseen for Fiber Laser Market, Surpassing US$ 11.46 Billion by 2023 with a Remarkable 11.5% CAGR till 2033

In 2022, the global fibre laser market is expected to be worth around US$ 3.46 billion. Fiber-related technological advancements, high beam quality and low ownership costs, and green technology are just a few of the main drivers propelling the fibre lasers industry forward. It is thus expected to have generated US$ 11.46 billion by 2023, with a CAGR of 11.5% from 2023 to 2033.

Fiber laser market in Germany will showcase significant growth over the forecast period due to the increasing demand in semiconductor and integrated circuit manufacturing industry. With advancement in manufacturing technology, modern manufacturing industries are looking towards adopting compact laser cutting and welding machines to enhance their productivity. Increasing demand for miniature electronic components is driving the fiber laser market demand in the country.

Fiber lasers are widely used in high precision cutting and perforation of semiconductor wafers and electronic circuits and thin metal welding in automotive body manufacturing. Increasing demand for electric and autonomous vehicles will fuel the demand for integrated circuits, which consequently will boost the fiber laser market growth in Germany.

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Automation is anticipated to take the place of traditional machine marking processes like chemical etching and ink-based printing in the fibre laser market. They are suitable for high-power applications due to their ease of use and smaller size as a result of digitization.

In the following ten years, these factors are anticipated to fuel fibre laser sales. Increasing demand for high process speed for welding thicker sheets of highly thermally conductive metals, as well as increasing efforts to improve overall efficiency and flexibility of fiber laser, will drive market growth in the coming years.

The fiber laser market will expand, with a total valuation expected to exceed US$ 3.1 billion by 2021. Between 2021 and 2031, the market’s value will grow at a compound annual growth rate (CAGR) of 11.1%. Global sales are expected to rise 10.7 % in 2021, following a period of sluggish growth in 2020. FMI presents a positive market growth outlook, with shipments reaching nearly 115,000 units.

For the past few years, fiber laser technology has advanced by leaps and bounds in terms of spectral coverage, output power, and ultra-short pulse width. Because of rapid technological advancement, the scope of fibre laser applications has expanded to include healthcare, defence, and military applications.

Key Takeaways from FMI’s Fiber laser Market Study:

“Quasi continuous wave fiber laser will remain highly sought-after owing to its ability to generate high peak power and high reliability, while welding dissimilar metals and metals with high thermal conductivity,” says the FMI analyst.

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The key growth drivers are increased research and development activities aimed at designing high beam quality, environmentally friendly, and low cost fibre lasers. Increasing government initiatives to promote green manufacturing, as well as the implementation of Industry 4.0, will have a positive impact on market growth over the assessment period. Rising adoption of novel materials, as well as growing concern among material manufacturers about the environmental impact of their products across a wide range of end users, is driving manufacturers to use fibre lasers for cutting and marking applications, driving market growth.

Incorporation of fiber lasers with 3D printing for effective material deposition will further boost the market growth. Market players are focusing on developing energy efficient processes to minimize material consumption and lower the operational cost of fiber lasers. Fiber laser welding are used in manufacturing of low cost and highly reliable batteries for electric vehicles. These factors will aggrandize the market growth over the decade.

Competitive Analysis:

In order to expand their global reach, leading market players are focusing towards diversifying the product portfolio by introducing new products into the market. They are actively collaborating with existing players to gain maximum market share. For instance, Furukawa launched new industrial fiber laser in July 2021. The new laser has high beam quality, time stability and high efficiency.

FMI also predicts that the IPG Photonics Corporation hold around 50% of global market share, TRUMPF GmbH Co. KG holds 17% of global market share, Lumnetum Operations LLC AG holds 8%, Wuhan Raycus Fiber Laser Technologies Co. Ltd holds 9%, and Fujikura Ltd holds 4% of global market share in 2021.

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