Market Analysis: Fiber Laser Sector Eyes US$ 11.46 Billion by 2033

The Fiber Laser Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Fiber Laser market. Encompassing the research's scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Fiber Laser. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.

The German Fiber Laser Market is expected to experience significant expansion during the forecast period, primarily fueled by the increasing demand within the semiconductor and integrated circuit manufacturing sector. The growing adoption of state-of-the-art manufacturing technologies by modern industrial enterprises has made the integration of compact laser cutting and welding machines a crucial strategic move, promising substantial enhancements in overall productivity.

According to the data available in 2022, the global fiber laser market was approximated to be valued at around US$ 3.46 billion. Several key factors such as continuous advancements in fiber-related technology, superior beam quality, cost-effectiveness, and a strong emphasis on sustainable practices have emerged as prominent catalysts propelling the growth of the fiber laser industry. Projections suggest that the market is poised to attain a valuation of US$ 11.46 billion by 2023, showcasing a robust Compound Annual Growth Rate (CAGR) of 11.5% from 2023 to 2033.

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The Fiber Laser Market in Germany is expected to experience substantial growth, propelled by the increasing demand within the semiconductor and integrated circuit manufacturing industry. Contemporary industrial players are progressively embracing compact laser cutting and welding machines, driven by the pursuit of heightened operational efficiency and output, facilitated by continuous advancements in manufacturing technology.

The demand for intricate electronic components is a key factor stimulating the need for fiber lasers in the country. Fiber lasers are extensively employed for precise cutting and perforation of semiconductor wafers and electronic circuits, as well as thin metal welding in automotive body manufacturing. The surge in demand for electric and autonomous vehicles is expected to further bolster the need for integrated circuits, consequently fostering the growth trajectory of the fiber laser market in Germany.

In the realm of the fiber laser market, automation is projected to supplant conventional machine marking processes such as chemical etching and ink-based printing. This shift is attributed to the suitability of fiber lasers for high-power applications, owing to their user-friendly nature and compact size facilitated by digitization.

Over the next decade, these driving forces are anticipated to stimulate the sales of fiber lasers. The increasing requirement for high process speed for welding thicker sheets of highly thermally conductive metals, coupled with concerted efforts to enhance the overall efficiency and flexibility of fiber lasers, will fuel market growth in the forthcoming years.

Projections indicate that the fiber laser market will expand significantly, with a total valuation anticipated to surpass US$ 3.1 billion by 2021. Furthermore, between 2021 and 2031, the market is expected to demonstrate a compound annual growth rate (CAGR) of 11.1%. Following a period of sluggish growth in 2020, global sales are anticipated to rise by 10.7% in 2021, with shipments approaching nearly 115,000 units, according to FMI's optimistic market growth outlook.

Notably, the past few years have witnessed remarkable advancements in fiber laser technology, evident in the expansion of spectral coverage, output power, and ultra-short pulse width. This rapid technological progression has broadened the scope of fiber laser applications, encompassing diverse sectors such as healthcare, defense, and military applications.

Key Takeaways from FMI’s Fiber Laser Market Study:

North America fiber 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 presence of leading semiconductor wafer manufacturing companies will support European laser fiber market to grow at 10.2% CAGR over the forecast period.
China is expected to offer lucrative growth opportunities owing to favorable government policies to boost the manufacturing industry and increasing demand for fiber laser marking system in e-commerce sector in the country.
South Korea and Japan account for 10% of global fiber laser market share in 2021. Growing emphasis towards 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 global market share in 2021.

“Quasi continuous wave fiber laser will remain highly sought-after owing to its ability to generate high peak power and high reliability, while welding dissimilar metals and metals with high thermal conductivity,” says the FMI analyst.

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 implementation of Industry 4.0, will have a positive impact on market growth over the assessment period. Rising adoption of novel materials, as well as growing concern among material manufacturers about the environmental impact of their products across a wide range of end users, is driving manufacturers to use fibre lasers for cutting and marking applications, driving market growth.

Incorporation of fiber lasers with 3D printing for effective material deposition will further boost the market growth. Market players are focusing on developing energy efficient processes to minimize material consumption and lower the operational cost of fiber lasers. Fiber laser welding are used in manufacturing of low cost and highly reliable batteries for electric vehicles. These factors will aggrandize the market growth over the decade.

Competitive Analysis:

In order to expand their global reach, leading market players are focusing towards diversifying the product portfolio by introducing new products into the market. They are actively collaborating with existing players to gain maximum market share. For instance, Furukawa launched new industrial fiber laser in July 2021. The new laser has high beam quality, time stability and high efficiency.

FMI also predicts that the IPG Photonics Corporation hold around 50% of global market share, TRUMPF GmbH Co. KG holds 17% of global market share, Lumnetum Operations LLC AG holds 8%, Wuhan Raycus Fiber Laser Technologies Co. Ltd holds 9%, and Fujikura Ltd holds 4% of global market share in 2021.

Key Segments Profiled in the Global Fiber Laser Market

By Laser Type: