IMARC Group, a leading market research company, has recently releases report titled “Fiber Laser Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global fiber laser market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the fiber laser market?
The global fiber laser market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
What is fiber laser?
A fiber laser uses an optical fiber as an active medium doped in rare-earth elements like erbium, ytterbium, neodymium, thulium, praseodymium, holmium, and dysprosium. It is alignment and maintenance-free and offers advantages, including adaptability, compactness, reliability, cost-effectiveness and high energy levels.It is currently available in numerous forms, which can be adopted for welding heavy sheets of metal and producing femtosecond pulses.
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What are the growth prospects and trends in the fiber laser industry?
Rapid industrialization, in confluence with the rising adoption of advanced technologies to enable automation in various manufacturing processes, represents one of the key factors bolstering market growth. Apart from this, due to the growing prevalence of chronic diseases among individuals, fiber lasers are gaining traction in the healthcare industry. They are used in dentistry, photodynamic therapy, and biomedical sensing for mid-infrared spectroscopy. Moreover, with the rising demand for electric vehicles (EVs), the application of fiber lasers is anticipated to rise in the internal combustion engines (ICEs).
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Infrared Fiber Laser
- Ultraviolet Fiber Laser
- Ultrafast Fiber Laser
- Visible Fiber Laser
Breakup by Application:
- Fine and Micro Processing
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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
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