Dublin, Sept. 13, 2024 (GLOBE NEWSWIRE) -- The "Fiber Laser Market by Type (Infrared, Ultrafast, Ultraviolet, Visible), Operation Mode (Continuous Wave, Pulsed), Output Power (Low Power, Medium Power, High Power), Industry (Telecommunications, Automotive, Medical) and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The fiber laser market is projected to grow from USD 7.7 billion in 2024, to reach USD 12.8 billion by 2029, growing at a CAGR of 10.8% from 2024 to 2029.
Market Dynamics
- Drivers
- Increasing Automation in Manufacturing and Material Processing Industries
- High Energy Efficiency, Low Maintenance, and Long Lifespan of Fiber Lasers
- Growing Demand in Medical & Healthcare Industry
- Rising Adoption of Fiber Lasers in Consumer Electronics
- Expansion of 3D Printing and Additive Manufacturing
- Restraints
- High Deployment Cost
- Reduced Cutting Speed for Thicker Materials
- Opportunities
- Growing Use of Advanced Ultraviolet Fiber Lasers
- Increasing Use in Thin Sheet Cutting and Micro Machining
- High Demand in Micro Drilling and Surface Cleaning Applications
- Challenges
- Competition from Alternative Technologies
- Safety Concerns and Compliance Issues
- Shortage of Skilled Professionals
Continuous Wave segment segment to grow at the fastest CAGR during forecast period
During the forecast period (2024 to 2029), Continuous wave (CW) segment is projected to grow at the fastest CAGR. Automotive, aerospace, electronics, and semiconductor industries have numerous applications of continuous wave fiber lasers. In automotive continuous wave fiber laser offers precise welding and cutting of metal parts to strong joints and minimal thermal distortion. In the electronics sector, CW fiber lasers perform engraving, marking, and micro-machining of components, ensuring high precision. Due to their continuous and stable output CW fiber lasers ensures efficient and accurate processing of a diverse range of materials, including metals, plastics, and ceramics.
Medical segment to grow at the fastest CAGR during the forecast period
Fiber lasers are rapidly being used in the medical field as it provides high accuracy and precision for applications such as surgery, imaging, and therapy. Fiber lasers delivers controlled, and high intensity light which allow minimal invasive procedure which results in reducing patient recovery times and also improve outcomes. Due to its precision fiber lasers allows medical professionals to target specific areas or cells without harming the surrounding tissues or organs which is critical for delicate surgeries and treatments. This is extremely useful where traditional methods are imprecise.
Asia Pacific held the largest share of the fiber laser market in 2023
The Asia Pacific region is driven by industrialization, technological advancements, growing end-user industries, government support, increasing investments, and emerging markets providing significant growth opportunities for the fiber laser market. Additionally, presence of key fiber laser manufacturers such as Wuhan Raycus Fiber Laser Technologies Co., Ltd. (China), Maxphotonics co. ltd (China), research institutions, and academic centers that play crucial role in the technological progress in lasers, optics, photonics, and related fields contribute to the growth of fiber laser market. Countries like China, India, South Korea, and Japan are undergoing rapid industrialization and urbanization, which creates demand for the adoption of fiber lasers across various sectors.
Research Coverage
The report segments the fiber laser market and forecasts its size, by value & volume, based on By Type (Infrared, Ultrafast, Ultraviolet, and Visible); By Operation Mode (Continuous wave, and Pulsed); By Output Power (Low, Medium, and High); Industry (telecommunications, industrial, semiconductor & electronics, commercial, aerospace, automotive, medical, research, and other verticals, including oil & gas, iron & steel, glass, wood, retail, and plastics); and Region (North America; Europe; Asia Pacific; and RoW. The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the fiber laser market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 247 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $7.7 Billion |
| Forecasted Market Value (USD) by 2029 | $12.8 Billion |
| Compound Annual Growth Rate | 10.8% |
| Regions Covered | Global |
Technology Analysis
- Key Technologies
- Adjustable Mode Beam Lasers
- Additive Manufacturing Locus Beam Control
- Complementary Technologies
- LiDAR
- Adjacent Technologies
- Quantum Cascade Lasers
Case Study Analysis
- Shim Shack Transformed Its Shop with LaserCube Flatbed Laser Cutting System
- MShield Improved Efficiency and Cost with LaserCube
- Laser Indonesia Pioneers Laser Cladding in Indonesia with Coherent's Support
- Teamtechnik Enhanced Welding Precision with Coherent Fiber Laser
- Eurosteel Enhanced Manufacturing Precision With Cy-Laser's Fiber Laser Technology
Trade Analysis
- Import Data
- Export Data
Impact of AI: Fiber Laser Market
- AI Use Cases in Fiber Laser Market
- Best Practices: Who is Implementing Above Use Cases
- Interconnect Adjacent Ecosystem
- Impact on Laser Processing Market
Pricing Analysis
- Average Selling Price of Fiber Lasers
- Average Selling Price of Lasers Offered by Key Players, by Output Power
- Average Selling Price of Fiber Lasers, by Region
Companies Featured
- IPG Photonics Corporation
- TRUMPF
- Han's Laser Technology Industry Group Co. Ltd.
- Coherent Corp.
- Wuhan Raycus Fiber Laser Technologies Co. Ltd.
- Fujikura Ltd.
- 600 Group PLC
- Bystronic Group
- Epilog Laser
- Fanuc Corporation
- Furukawa Electric Co. Ltd.
- Jenoptik AG
- Lumentum Operations LLC
- Lumibird
- Newport Corporation
- NLight, Inc.
- Amonics Ltd.
- Apollo Instruments Inc.
- CY-Laser Srl
- EKSPLA
- Laguna Tools
- Laserstar Technologies Corporation
- MaxPhotonics Co. Ltd.
- NKT Photonics A/S
- Toptica Photonics AG
For more information about this report visit https://www.researchandmarkets.com/r/fgjys0
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