Fiber Laser Market to Grow by USD 8.78 billion between 2022 – 2027, Growth Driven by Increasing demand for high-powered fiber lasers – Technavio

NEW YORK, Sept. 11, 2023 /PRNewswire/ — The Fiber Laser Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the fiber laser market between 2023 and 2027 is USD 8.78 billion. The increasing demand for high-powered fiber lasers is a key factor that drives the global fiber laser market growth. The demand for high-powered lasers has increased, as they are used in various applications such as non-destructive testing in several industries, including aeronautical engineering, civil engineering, electrical engineering, forensic engineering, mechanical engineering, medicine, petroleum engineering, and systems engineering. Therefore, the market will observe an increase in the demand for high-powered pulsed fiber lasers, which, in turn, will result in the growth of the global market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

• Market Challenge – The dependence on a limited number of suppliers is a challenge hindering the global fiber laser market growth. Fiber laser manufacturers rely on third-party vendors for the supply of components integrated into laser systems. However, due to the limited number of suppliers, vendors are facing a shortage in raw material supply. Moreover, uncertain global economic conditions lead to fluctuation in the prices of commodities and currency values, thereby affecting suppliers and manufacturers. Such factors impede the growth of the global fiber laser market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

The fiber laser market is segmented by Application (Material processing, Advanced applications, Healthcare, and Others), Product Type (Continuous wave fiber laser, Pulsed fiber laser) and Geography (North America, APAC, Europe, Middle East and Africa, and South America). 

• The material processing segment will be significant during the forecast period. Material processing includes cutting, welding, engraving, and marking applications for different materials. This segment has been further segmented into high power, marking, fine processing, and micro-processing. High-power applications include cutting and welding applications and are the main contributors to the material processing segment. Hence, these factors will drive the growth of the material processing segment of the global fiber laser market at a rapid pace during the forecast period.
• Geo Segment – North America is projected to contribute 30% of the global market growth during the forecast period. View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Fiber Laser Market:

Amonics Ltd, Apollo Instruments Inc., Calmar Laser Inc., Coherent Corp., CY Laser Srl, FANUC Corp., Furukawa Electric Co. Ltd., Hypertherm Inc., IPG Photonics Corp., Jenoptik AG, LNA Laser Technology, Lumentum Holdings Inc., LUMIBIRD SA, MACSA ID SA, MKS Instruments Inc, NKT AS, OMRON Corp., TOPTICA Photonics AG, TRUMPF SE Co. KG, Wuhan Raycus Fiber Laser Technologies Co. Ltd.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio