LONDON--(BUSINESS WIRE)--The global fiber laser market size is poised to grow by USD 8.33 billion during 2020-2024, progressing at a CAGR of over 11% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The demand for enhanced productivity will be a significant factor in driving the fiber laser market growth. The aerospace and defense, consumer electronics, healthcare, industrial, and manufacturing industries are increasingly adopting new technologies and tools to enhance their productivity. Fiber laser cutting systems are known to offer higher productivity than a CO2 laser system. Hence, with the increasing demand for enhanced productivity from end-user industries, the need for fiber lasers will also grow.
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Report Highlights:
- The major fiber laser market growth came from the material processing segment. Several firms are replacing their CO2 lasers with fiber lasers to increase their productivity and ROI. The rising demand for fiber lasers for coding and marking requirements and growing demand for miniaturization of ICs and wafers will fuel the demand for fiber lasers for materials processing applications. Market growth in this segment will be faster than the growth of the market in the advanced application, healthcare, and other segments.
- APAC will offer several growth opportunities to market vendors during the forecast period. Growing demand for semiconductor chips and the presence of several industrial manufacturing plants in APAC will significantly influence fiber laser market growth in this region. China, India, and Japan are the key markets for fiber laser in APAC. Market growth in this region will be faster than the growth of the market in other regions.
- The global fiber laser market is fragmented. ABB Ltd., Amonics Ltd., Coherent Inc., FANUC Corp., IPG Photonics Corp., Jenoptik AG, MKS Instruments Inc., NKT Photonics AS, OMRON Corp., and TRUMPF GmbH + Co. KG. are some of the major market participants. To help clients improve their market position, this fiber laser market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global fiber laser market 2020-2024 is expected to have Positive and Superior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Growing Use of Fiber Lasers in Thin-sheet and Micro-cutting Applications will be a Key Market Trend
Fiber laser offers several advantages over gas or other solid-state lasers. The optical fiber used as an active gain medium in a fiber laser can be twisted to accommodate any directional changes. The flexibility of fiber lasers allows for a compact design of cutting heads. The absence of any moving parts makes the maintenance of fiber lasers easier than other laser sources. The efficient cooling mechanisms allow fiber lasers to operate continuously for longer durations. The demand for fiber laser cutting will be especially high in the electronic and medical industries where twists and turns in miniature products and micro-cutting applications is required. The growing use of fiber lasers in thin-sheet and micro-cutting applications, which is one of the critical fiber laser market trends, will positively influence the growth of the market during the forecast period.
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Fiber Laser Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist fiber laser market growth during the next five years
- Estimation of the fiber laser market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the fiber laser market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fiber laser market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Material processing - Market size and forecast 2019-2024
- Advanced application - Market size and forecast 2019-2024
- Healthcare - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Technological advances in fiber lasers
- Focus on sustainable manufacturing
- Focus on inorganic growth
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Coherent Inc.
- FANUC Corp.
- Furukawa Electric Co. Ltd.
- IPG Photonics Corp.
- Keopsys Group
- Lumentum Holdings Inc.
- Maxphotonics Co. Ltd.
- nLIGHT Inc.
- TRUMPF GmbH + Co. KG
- Wuhan Raycus Fiber Laser Technologies Co. Ltd.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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