Fiber Laser Market Insights – Growth, Challenges and Future Scope with Top Key Players Active Fiber Systems, IPG Photonics Corporation, Fujikura, Convergent Photonics and Coherent

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.

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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

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 types of 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 the automotive industry. Moreover, the rapid industrialization across the globe has increased the demand for pulsed fiber lasers in cutting applications to replace conventional methods such as ink-based printing and chemical etching, which is anticipated to fuel the growth of the 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 which 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 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 solutions in their day-to-day operations. The industrial fiber lasers offer 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

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 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 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

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

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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.

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