According to the latest report by IMARC Group, titled “Fiber Laser Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027″, the global fiber laser market reached US$ 2.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2027, exhibiting a growth rate (CAGR) of 10.44% during 2022-2027.
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.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Fiber Laser Market Trends:
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).
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Global Fiber Laser Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Apollo Instruments Inc.
IPG Photonics Corporation
MKS Instruments Inc.
NKT Photonics A/S
Trumpf GmbH + Co. KG
The report has segmented the market on the basis on region, type and application.
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
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Other Related Reports by IMARC Group:
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