Fiber Laser Market

Global Fiber Laser Market:

The global fiber laser market size reached USD 2.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 5.7 Billion by 2032, exhibiting a growth rate (CAGR) of 8.2% during 2024-2032. The fiber laser market growth is primarily driven by the increasing demand for miniaturization of wafers and integrated circuits (ICs), along with the introduction of energy-efficient and automated fiber laser solutions.

Global Fiber Laser Market Analysis:

• Major Market Drivers: The widespread applications of fiber lasers in several fields, including biology and medical sciences, micromachining, telecommunications industry, etc., for marking and coding requirements are primarily propelling the global market. Besides this, the rising awareness among material manufacturers towards the negative impact of their products is encouraging them to use fiber lasers, as they consume less energy than their gas-and-crystal-based counterparts, further bolstering the market growth.
• Key Market Trends: The rising popularity of green manufacturing practices is one of the emerging trends bolstering the fiber laser market demand. Apart from this, the shifting preferences among key producers from traditional ink-based and chemical etching printing methods towards fiber laser solutions are acting as significant growth-inducing factors.
• Geographical Trends: According to the fiber laser market overview, North America dominates the global market. The increasing focus of producers on precision manufacturing and automation is one of the primary factors augmenting the fiber laser market outlook across the region. Moreover, the wide presence of prominent key market players and the rising usage of fiber lasers in numerous industries, including aerospace, automotive, electronics manufacturing, etc., are further stimulating the fiber laser market in North America.
• Competitive Landscape: According to the fiber laser market research, some of the key players include ABB Ltd., Amonics Limited, Apollo Instruments Inc., Coherent Inc., Cy-laser S.r.l., IPG Photonics Corporation, MKS Instruments Inc., Omron Corporation, NKT Photonics A/S, Toptica Photonics, and Trumpf GmbH Co. KG, among many others.
• Challenges and Opportunities: One of the major restraints negatively impacting the fiber laser market revenue is the significant investment needed for adopting fiber lasers. Additionally, the integration and installation of fiber laser equipment usually involve capital expenditures for companies, particularly small and medium-sized enterprises. However, continuous technological advancements are minimizing costs, thereby making fiber lasers more accessible to a wide array of businesses.
   

Global Fiber Laser Market Trends:

Rising Applications in Additive Manufacturing

The emerging trend of integrating fiber lasers in 3D printing or additive manufacturing processes in industries, including aerospace, is creating a positive outlook for the fiber laser market share. For instance, a machine manufacturer called BLT developed a metal 3D printer equipped with 20 fiber lasers. In addition to this, EOS, a leading additive manufacturing (AM) technology provider, launched EOS M 290, which offered cost-effective production of metal parts. Furthermore, the exceptional beam quality of the 400-watt fiber laser is ideal for producing highly complex metal components. Besides this, Nikon SLM Solutions, which specializes in selective laser melting (SLM) technology, introduced the novel second-generation SLM 280 2.0 selective laser melting system, patented multi-beam laser technology with up to two fiber lasers exposing the build field through a 3D scan optic. Moreover, multi-laser systems can achieve build rates 80% faster as compared to a single laser and reduce the number of passes needed to lay fresh powder during a build.

Growing number of Strategic Collaborations

The leading players in the fiber laser market are partnering with government bodies and other prominent companies to introduce advanced laser solutions. For example, in August 2023, LUMIBIRD Group, the European leader in laser technologies, entered an agreement with the Italian company Prima Industrie to acquire the Convergent assets of Prima Industrie North America (Boston, USA) and subsidiary Convergent Photonics (Turin, Italy). As such, the acquisition offered Lumibird autonomy in semiconductors and high-power fiber lasers while opening new markets. Additionally, researchers at NIF & Photon Science extended the capabilities of fiber lasers by introducing high average-power pulsed lasers for extensive scientific applications, including laser-based particle accelerators. Apart from this, Lawrence Livermore National Laboratory (LLNL) in Livermore, California, has partnered with the private sector and government bodies. Extensive R&D activities in the Lasers and Optics Research Center at the U.S. Air Force Academy resulted in codes that can calculate the non-linear and thermal limits of fiber structures running on high-performance computers operated by federally funded research centers and armed services.

Emerging Key Players

The fiber laser market value is bolstered by the emergence of several key players that are focusing on technological advancements. For instance, in February 2024, Bystronic developed the ByCut Eco fiber laser. With up to 6kW of fiber power, a wide array of materials can be processed, from stainless steel to non-ferrous metals, including copper, aluminum, brass, etc. Similarly, Han's Laser Technology Industry Group Co., Ltd. has been a prominent player in the market, offering a wide range of fiber laser solutions. These solutions will continue to drive the fiber laser market over the forecasted period.

Fiber Laser Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type and application. 

Breakup by Type:

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

Ultrafast fiber laser currently exhibits a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. According to the report, ultrafast fiber laser accounted for the largest market share. 

Ultrafast fiber lasers find extensive applications, owing to their ability to produce high peak power pulses with minimal thermal damage to surrounding materials. This, in turn, is propelling the fiber laser market revenue in this segmentation. SLTL Group introduced ultra laser marking systems that can be efficiently utilized for marking medical devices which is challenging for medical device manufacturers.

Breakup by Application:

• Cutting
• Welding
• Marking
• Fine and Micro Processing
• Medical
• Others
   

Cutting holds the largest market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes cutting, welding, marking, fine and micro processing, medical, and others. According to the report, cutting accounted for the largest market share. 

Fiber lasers are extensively utilized for numerous cutting processes, including tube cutting, flat sheet cutting, 3D cutting, etc., as they provide optimal accuracy and speed. These lasers are widely adopted for cutting stainless steel and non-ferrous metals, thereby augmenting the market growth in this segmentation.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest fiber laser market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share. 

The increasing number of fiber laser suppliers in North America who provide fiber laser solutions to aerospace manufacturers is primarily driving the regional market. For example, Coherent, Inc. offers fiber laser solutions to various medical device manufacturers, semiconductor manufacturers, and e-mobility companies. Besides this, numerous other factors, including high beam quality and lower cost of ownership, are impelling companies in industries to shift from CO₂ laser systems to fiber laser cutting systems in North America.

Leading Key Players in the Fiber Laser Industry:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• ABB Ltd.
• Amonics Limited
• Apollo Instruments Inc.
• Coherent Inc.
• Cy-laser S.r.l.
• IPG Photonics Corporation
• MKS Instruments Inc.
• Omron Corporation
• NKT Photonics A/S
• Toptica Photonics
• Trumpf GmbH Co. KG.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Global Fiber Laser Market News:

• February 2024: Bystronic developed the ByCut Eco fiber laser. It has 6kW of fiber power and can process various materials, from non-ferrous metals, including aluminum and brass, to stainless steel.
• December 2023: In the journal Optics Letters, the researchers reported on how they 3D printed microscale optics directly onto optical fibers to compactly combine laser crystals and fibers inside a single laser oscillator.
• November 2023: Researchers from the University of Adelaide (UoA), the University of South Australia (UniSA), and Yale University have demonstrated the potential use of multimode optical fiber to scale up power in fiber lasers by three-to-nine times but without deteriorating the beam quality so that it can focus on distant targets.

Fiber Laser Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the fiber laser market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global fiber laser market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the fiber laser industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.