Fiber medicine

Fiber Laser Market Worth $ 4,765.43 Million By 2028, Growing Demand For Fiber Lasers In Cutting Applications Creating Huge Growth Opportunity

PUNE, India, September 30, 2021 / PRNewswire / – According to the Insight Partners study on “Fiber laser market to 2028 – COVID-19 Impact and Global Analysis and Forecast – by Type, Application and Geography, the market should reach US $ 4,765.43 million by 2028 onwards US $ 2,286.16 million in 2021; it is expected to grow at a CAGR of 11.1% during 2021-2028.

Fiber laser technology is now widely used in 3D printing due to its multiple qualities including process feasibility and the ability to make stronger and denser materials by pressing the plate hard against the hanging part during the process. sintering using the fiber laser. Fiber laser technology has potential applications in the printing of integrated circuits, robotic components, and electromechanical components. Thus, the use of sintering in 3D printing is likely to have its application in a wide variety of industries. Additionally, fiber laser technology can change the additive manufacturing industry from printing passive uniform parts to printing active integrated systems. Technological advancements and lower prices for fiber laser systems have led to their use in metal deposition 3D printers primarily used in the aerospace industry. Thus, the growth of 3D printing technology is propelling the growth of the fiber laser market.

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Details

Market size Value in

US $ 2,286.16 million in 2021

Market size Value per

US $ 4,765.43 million by 2028

Rate of growth

CAGR of 11.1% from 2021-2028

Forecast period

2021-2028

Year of reference

2021

Number of pages

147

Number of tables

61

Number of graphs and figures

73

Historical data available

Yes

Covered segments

Type and application

Regional scope

North America; Europe; Asia Pacific; Latin America; AEM

Country scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Cover of the report

Revenue forecast, company ranking, competitive landscape, growth factors and trends

Country scope

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

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Increased automotive production to drive the growth of the fiber laser market during the forecast period

Automobile production is steadily increasing around the world, especially in Asian and European countries, which is driving the demand for fiber lasers. Most car manufacturers are quickly turning to fiber lasers to solve their manufacturing problems. The industry widely uses fiber laser in material processing applications such as cutting, welding and marking, as well as other machining operations involved in the manufacturing of auto parts. The automotive industry has achieved excellent results with the use of fiber lasers in the design of electric and light vehicles. Significant weight reduction is achieved by minimizing flange size by fiber laser welding and battery safety is made possible by oscillating beam fiber welding. Automotive giants such as Volkswagen, BMW and Ford Motor Company are contributing significantly to the growth of the fiber laser market.

Electric vehicles are gaining ground by North Americathereby boosting the growth of the fiber laser market in the region. Countries like the United States and Canada are leading automobile manufacturers in the region. According to the American Automotive Policy Council, automakers and their suppliers contribute about 3% of US GDP. General Motors Company, Ford Motor Company, Fiat Chrysler Automobiles and Daimler are some of the major automakers in the North America. According to data from the International Organization of Motor Vehicle Manufacturers, in 2019, the United States and Canada manufactured approximately 2,512,780 and approximately 461,370 cars, respectively.

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Fiber Laser Market: Segment Overview

Based on type, the fiber laser market is segmented into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser and visible fiber laser. Infrared fiber lasers segment dominated the market in 2020. In medical field, infrared fiber lasers are mainly used for medical treatment and therapy, such as acne treatment, photodynamic therapy and therapy renal denervation. In medical treatment, infrared fiber lasers are useful due to the low tissue absorption, which allows high tissue penetration depths. Additionally, the presence of absorption peaks for tissue components, such as lipids, allows the potential to induce selective tissue damage. High average powers and attractive laser properties, such as the ability to deliver a collimated or focused beam, are key catalysts for potential medical catheter treatments.

Fiber laser market: competitive landscape and key developments

Active Fiber Systems GmbH; Convergent photonics; Coherent, Inc .; Hypertherm, Inc .; IPG Photonics Corporation; Maxphotonics Co, Ltd; nLIGHT, Inc .; LUMIBIRD (formerly Quantel-Keopsys group); Technology Co., Ltd. Wuhan Raycus fiber laser; and TRUMPF GmbH + Co. KG are among the key players that have been presented during this market research. Market players adopt strategies such as product development, partnerships, mergers and acquisitions, and collaborations to maintain competitive advantage.

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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In 2021, Maxphotonics Co, Ltd launched the new MOPA Pulsed M Series. These are widely used in marking, engraving, cleaning, precision cutting / welding, etc., and have played a vital role in improving and developing manufacturing.

In 2020, PG Photonics Corporation launched new YLR-U series 1.0 near infrared fiber optic lasers. The YLR-U series are the world’s leading industrial grade continuous wave (CW) continuous wave (CW) ytterbium fiber lasers.

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