The fibre laser market will record positive growth with the overall valuation forecast to overtake US$ 3.1 Bn in 2021. The market’s worth will increase at a compound annual growth rate (CAGR) of 11.1% between 2021 and 2031.
The key growth drivers are increased research and development activities aimed at designing high beam quality, environmentally friendly, and low-cost fibre lasers. Increasing government initiatives to promote green manufacturing, as well as the launch of Industry 4.0, will have a positive impact on market growth over the assessment period.
Following a period of sluggish growth in 2020, global sales are expected to rise 10.7 percent in 2021. FMI presents a positive market growth outlook, with shipments reaching nearly 115,000 units.
In 2021, global sales of fibre lasers are expected to increase by 10.7 percent year on year, generating sales revenue of slightly more than US$ 3.1 billion. According to Future Market Insights (FMI), the fibre laser market will grow at a healthy rate, with total sales volume reaching 115,000 units by the end of 2021. Product innovation initiatives are expected to emerge as the dominant trend influencing fibre laser sales.
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Automation in the fibre laser market is expected to replace traditional machine marking operations such as chemical etching and ink-based printing. They are simple to use, and digitization has reduced their size, making them ideal for high-power applications. These factors are expected to drive fibre laser sales in the coming decade.
Increased demand for high process speed for welding thicker sheets of highly thermal conductive metals, as well as increased efforts to improve the overall efficiency and flexibility of fibre lasers, will drive market growth in the coming years.
Key Takeaways from FMI’s Fiber laser Market Study
- The North American fibre laser market is forecast to grow at 10.9% CAGR through 2031, backed by rising industrialization and increasing production of consumer electronics in the country.
- Increasing production of electric vehicles and the presence of leading semiconductor wafer manufacturing companies will support the European laser fibre market to grow at a 10.2% CAGR over the forecast period.
- China is expected to offer lucrative growth opportunities owing to favourable government policies to boost the manufacturing industry and increasing demand for fibre laser marking systems in the e-commerce sector in the country.
- South Korea and Japan account for 10% of the glofibreiber laser market share in 2021. Growing emphasis on the miniaturization of electronic components is the key growth driver in these countries.
- IPG Photonics Corporation, TRUMPF GmbH + Co. KG, Lumnetum Operations, LLC, Wuhan Raycus Fiber Laser Technologies Co., Ltd. and Fujikura Ltd. are the top five market players and they collectively account for 90% of the global market share in 2021.
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“The ability to generate high peak power and high reliability while welding dissimilar metals and metals with high thermal conductivity will keep the quasi-continuous wave fibre laser in high demand,” says the FMI analyst.
Who Is Winning?
Leading market players are focusing on diversifying their product portfolios by introducing new products into the market in order to expand their global reach. They are actively collaborating with existing players in order to gain the greatest possible market share.
Furukawa, for example, will introduce a new industrial fibre laser in July 2021. The new laser has excellent beam quality, time stability, and efficiency.
At PackExpo in the United States in 2016, Domino debuted the “F720i” high-performance fibre laser. It is intended to produce legible and long-lasting codes on aluminium beverage cans. The new system, which has a high IP rating, can withstand harsh production environments and meets the high-speed coding requirement of the beverage canning segment.
In 2016, Coherent Inc. completed the $942 million acquisition of Rofin-Sinar Technologies. Coherent Inc. is a leading provider of lasers and laser-based technology to commercial, scientific, and industrial customers worldwide, and this acquisition will help the company expand its product portfolio.
What is Driving Demand for Fiber laser Devices Market?
Fiber lasers are gaining popularity among manufacturers due to their high productivity and ROI, particularly in fine and micro material processing applications. Increased demand for miniaturisation of integrated circuits and wafers, as well as increased demand for mobile and smart electronic devices, are expected to drive market growth in material processing applications.
They are used in marking applications because they provide highly precise marking and can be applied to a wide variety of material surfaces and end user industries. Fiber laser marking is difficult to forge, non-contracting, and provides band protection. These factors will have a positive impact on market growth.
They are used to mark printed circuit boards, plates, engine parts, machining tools, and many other items. The increased use of 3D printing for developing modular designs and flexible machine concepts will accelerate the growth of the fibre laser market through 2031.
High demand of powerful fiber lasers for processing thicker materials and eliminate undesired pulse pedestals will create new opportunities for market players in the near future.
Prominent players operating in the fibre laser market are:-
- IPG Photonics Corporation
- TRUMPF GmbH + Co. KG
- Maxphotonics Co. Ltd.
- Coherent Inc.
- Newport Corporation
- Wuhan Raycus Fiber Laser Technologies Co. Ltd.
- Lumentum Operations LLC
- Fanuc Corporation
- Furukawa Electric Co. Ltd.
- Keopsys S.A.
- Fujikura Ltd.
- NLIGHT Inc.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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