PUBLISHER: Allied Market Research | PRODUCT CODE: 1344266
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344266
According to a new report published by Allied Market Research, titled, "Fiber Laser Market," The fiber laser market was valued at $3.3 billion in 2022, and is estimated to reach $9.2 billion by 2032, growing at a CAGR of 11% from 2023 to 2032.
Fiber laser is a device, which is optically pumped, most commonly with laser diodes but in a few cases with other fiber lasers. The optics used in this system is usually fiber components, with most, or all the components fiber-coupled to one another. In some systems, bulk optics are used, and sometimes an internal fiber-coupling system is combined with external bulk optics.
Rapid advancements in technology have revolutionized the industrial sector. Automation, robotics, artificial intelligence (AI), the Internet of Things (IoT), and other digital technologies have significantly improved efficiency, productivity, and quality in manufacturing and production processes. These technological advancements have led to the growth of factories and industries enabling faster and more flexible manufacturing capabilities where fiber laser have gained significant popularity in industrial applications such as metal cutting, welding, and marking. Their high beam quality, reliability, and scalability make them ideal for precision manufacturing processes. As industries strive for higher productivity, efficiency, and improved product quality, the demand for fiber lasers has grown. These factors together function as one of the key drivers responsible for the growth of the fiber laser market.
Fiber lasers can be more expensive upfront compared to other laser technologies, such as CO2 lasers or diode lasers. The initial investment cost for a fiber laser system, including the laser source, optics, and associated equipment, can be higher. Furthermore, maintenance and repairs are more complex as compared to other laser technologies, which incur additional cost and restrains the market growth. Furthermore, the fiber optics and optical components in fiber lasers require careful handling and alignment. In the event of damage or failure, specialized expertise may be required to repair or replace components. Thus, all these factors collectively hamper the growth of the fiber laser market.
Advancements in areas such as unmanned aerial vehicles (UAVs), autonomous systems, radar & sensor technologies, and satellite systems as well as surge in demand for commercial aircraft & stealth technologies are fueling growth of the fiber laser market. The fiber lasers are widely used in defense and aerospace industries for various applications, including laser weapons, target designation, and laser-based communication systems. With increasing defense budgets and advancements in laser technology, the demand for fiber lasers in the defense & aerospace sector is expected to increase, which is anticipated to open new avenues for the expansion of the global market during the forecast period.
The global fiber laser market scope covers segmentation based on type, application, and region. The report highlights the details about different laser types such as infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. In addition, the applications covered in the study include high-power, marking, fine processing, and micro processing. Moreover, it analyzes the current market trends of fiber lasers across North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.