PUBLISHER: IMARC | PRODUCT CODE: 1236905
PUBLISHER: IMARC | PRODUCT CODE: 1236905
The global fiber laser market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
A fiber laser is a solid-state laser that utilizes optical fiber doped in rare-earth elements, such as neodymium, thulium, erbium, holmium and praseodymium, as the active medium. The usage of rare earth elements provides a cost-effective diode laser pump source with a high-power output. Consequently, fiber lasers are compact, reliable, electrically- and optically-efficient, with excellent beam quality and high peak energy, compared to conventional lasers. They also offer superior stability, higher precision, and resistance to environmental disturbances, on account of their sealed optical path.
Fiber lasers find applications in various fields such as micromachining, biology and medical sciences, and telecommunications for coding and marking requirements. They are also gaining traction in the electrical and automotive industries as fibers have a large surface-to-volume ratio that quickly dissipates thermal energy and offers improved efficiency. Besides this, the growing demand for miniaturization of integrated circuits (ICs) and wafers has also contributed to the market growth as fiber lasers can maximize process speed and precision while minimizing operational costs. Moreover, manufacturers are focusing on designing automated and energy-efficient fiber laser solutions to replace traditional chemical etching and ink-based printing methods. Besides this, the growing trend of green manufacturing and increasing concerns among material manufacturers about the environmental impact of their products, have spurred the adoption of fiber lasers since they consume significantly lesser energy as compared to their crystal- or gas-based counterparts, as well as offer a higher diode life.