Global Fiber Laser Market Analysis North America, APAC, Europe, Middle East and Africa, South America - US, China, India, Japan, South Korea - Size and Forecast 2024-2028

Fiber Laser Market Forecast 2024-2028 

The fiber laser market size is projected to increase by USD 4.05 billion at a CAGR of 11.43% between 2023 and 2028. The expansion of the market is closely tied to factors such as the increasing requirement for high-powered fiber lasers, growing demand to boost productivity, and diminishing demand for CO2 lasers. Challenges encompass reliance on a restricted number of suppliers, scarcity of rare-earth elements essential for the manufacturing, and regulatory hurdles in product development and procurement within the global market.

The market growth and forecasting report includes key player's detailed analysis of the competitive landscape of the market and information about 20 market companies, including Amonics Ltd., Apollo Instruments Inc., CY Laser Srl, FANUC Corp., Furukawa Electric Co. Ltd., Hypertherm Inc., IPG Photonics Corp., Jenoptik AG, LNA Laser Technology, Lumentum Holdings Inc., LUMIBIRD SA, MACSA ID SA, MKS Instruments Inc., NKT AS, OMRON Corp., TOPTICA Photonics AG, TRUMPF SE Co. KG, and Wuhan Raycus Fiber Laser Technologies Co. Ltd. Additionally, Calmar Laser Inc. company offers fiber laser such as Compact Fiber Based Femtosecond Lasers, Pulsed Femtosecond Lasers Seed Lasers, High Repetition Rate Picosecond Lasers, High Pulse Energy Picosecond and Femtosecond, and more.

What will be the Size of the Market During the Forecast Period?

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Segmentation

By Product

The market share by the continuous wave fiber laser segment will be significant during the forecast period. Continuous wave (CW) output is nominally constant for seconds or longer, it is referred to as be continuous wave. A particular subset of DPSS lasers is CW variants. However, they used a doped fiber optic cable as the gain medium rather than a crystal. They often use neodymium, erbium, and other rare earth elements as a doping agent. CWs are widely used in laser radar, life science, material processing, microelectronics, scientific research, pumps for mid-IR lasers, etc.

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The continuous wave segment showed a gradual increase in the market share of USD 3.13 billion in 2018. The applications for this segment include cutting and drilling, marking for traceability, cleaning and texturing for surface preparation, and scanning for quality inspection. Additionally, this segment provides higher energy efficiency, a smaller machine footprint, less frequent maintenance needs, longer machine lifetimes, and quicker cycle times for high-volume production. Thus, the increasing use of this segment in the automotive and aerospace industries is expected to drive the growth of the segment of the market during the forecast period.

By Application

Material processing includes cutting, welding, engraving, and marking applications for different materials. The material processing segment has been further segmented into high power, marking, fine processing, and micro-processing. High power, which includes cutting and welding applications, is the main contributor to the material processing market segment. It includes the processing of materials like steel, brass, aluminum, copper, glass, and plastics. Cutting and welding are used for component manufacturing in industries like automotive, where lasers are used for welding vehicles' body parts, such as door panels and seat backs. Further, welding is essential in industries such as aerospace and defense, automotive, and construction. Cost-efficient, high-power beam sources have been engineered into them. Thus, such factors will drive the growth of the material processing segment of the market at a rapid pace during the forecast period.

Regional Overview

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North America is estimated to contribute 30% to the growth of the global market during the forecast period. 
Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. One of the major reasons for the growth of the market in North America is the presence of major aerospace and defense firms in the US, such as Lockheed Martin, BAE Systems, Temporal Defense Systems, and Raytheon. These firms are investing in different technologies to develop new types of weapons and defense systems. North America is the largest geographical segment of the global market in 2022 and will continue to remain the largest segment during the forecast period.

Market Dynamics and Customer Landscape

The market is experiencing robust growth driven by several key factors. Firstly, the demand for fiber lasers is propelled by their superior performance characteristics, such as high optical quality, precise beam quality, and high output power. These features make fiber lasers highly effective in various applications, including laser processing, laser marking, and machining tasks. Additionally, advancements in laser technology, such as stimulated Raman scattering and four-wave mixing, have further enhanced the capabilities and efficiency of fiber lasers, leading to increased adoption across industries.

Moreover, the increasing emphasis on safety and compliance in industrial settings is driving the demand for fiber lasers. Safety concerns have become paramount in laser processing environments, prompting manufacturers to prioritize the integration of safety features in fiber laser systems. This focus on safety not only ensures the well-being of operators but also facilitates regulatory compliance, thereby boosting market growth. Furthermore, the continuous wave fiber laser technology, coupled with modulated modes and versatility in infrared, ultraviolet, and ultrafast applications, is opening up new opportunities in diverse sectors, including manufacturing, healthcare, and telecommunications, driving the sustained growth of the fiber laser market.

Key Market Driver

The market experiences significant growth driven by the escalating demand for high-powered fiber lasers. This demand shift towards solid-state lasers is particularly notable due to their versatility in various applications. For instance, IPG Photonics Corp. reported that a substantial portion of its revenue from high-powered lasers in 2020 came from the sales of high-powered fiber lasers. These lasers find extensive usage across industrial sectors for tasks such as non-destructive testing of materials, highlighting their crucial role in modern manufacturing and fabrication processes. With their high-intensity beams, fiber lasers enable precise and efficient material analysis, contributing to their increased adoption in industrial applications.

Moreover, the adoption of fiber lasers is bolstered by their utilization in non-destructive testing across diverse industries, such as aeronautical engineering, civil engineering, medicine, and petroleum engineering, among others. This technique allows for the evaluation of material properties without causing damage, ensuring the integrity and quality of the materials used in various applications. As industries increasingly rely on non-destructive testing for quality assurance and performance evaluation, the demand for fiber lasers continues to rise. Consequently, the market is poised for sustained growth in the foreseeable future, driven by the expanding scope of applications and the indispensable role of fiber lasers in industrial processes.

Significant Market Trends

The growth of three-dimensional (3D) printing is the primary trend shaping the market growth. The increasing interest in 3D printing is a trend that defines the global market. The use of 3D printing has grown phenomenally across several industries, such as aerospace and defense, consumer electronics, healthcare, and several others. 3D printing permits the manufacture of highly complex structures with a high degree of customization and a lower amount of waste than traditional manufacturing processes.

Furthermore, in many metal-based 3D printers, multiple laser sources are used to fuse the metallic powder. These laser sources are usually fiber lasers. Hence, these lasers play an important role in the development of additive manufacturing or 3D printing technology. As the demand for 3D printing increases, there will be an increase in the demand for extremely powerful lasers that can be used to fuse the metallic powders required for fabricating components. Such factors will boost the growth of the market during the forecast period. 

Major Market Restrain

The dependence on a limited number of suppliers is a major challenge to the market growth. The manufacturers rely on third-party vendors for the supply of components integrated into laser systems. Some of the hardware components include mirrors, lenses, tubes, and several others. Owing to the limited number of suppliers in the market, vendors are facing the constant challenge of shortage in raw material supply.

Consequently, any failure to provide raw materials on time can affect the just-in-time delivery strategy of the vendors. Moreover, uncertain global economic conditions create a persistent fluctuation in the prices of commodities and currency values, thereby creating an imbalance in the global market, which affects both the suppliers and the manufacturers. Thus, such factors will impede the growth of the market during the forecast period.

Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.

Global Market Customer Landscape

Market Companies

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Coherent inc.: The company offers fiber laser such as HighLight FL ARM, HighLight FL ARM Compact, HighLight FL4000CSM ARM, HighLight FL ARM with Scanner Control, and HighLight FL ARM with Scanner Control.

Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028

• Product Outlook
  • Continuous wave fiber laser
  • Pulsed fiber laser

• Application Outlook
  • Material processing
  • Advanced applications
  • Healthcare
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Brazil
    • Argentina
    • Chile
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is experiencing significant growth driven by various factors, such as the utilization of advanced UV fiber lasers, micro drilling, and surface cleaning applications. Key components like dysprosium, praseodymium, and thulium contribute to the high optical quality and powerful performance of fiber lasers. These lasers find applications across industries, including the electronic industry, medical industry, and military, for tasks such as thin sheet cutting, micro machining, and power train welding. Additionally, the market benefits from innovations like mode-locked and Q-switched lasers, ensuring vibrational stability and precise cutting applications. Safety features like active-guard technology and compliance measures enhance the market's appeal, ensuring secure laser processing operations.

Furthermore, the market is propelled by technological advancements such as active gain medium and doped fiber amplifiers, enabling powerful fiber lasers for various applications. Optical fiber and silica glass contribute to the high optical quality of these lasers, essential for precision tasks like laser marking and solid-state laser cutting. Holmium and laser diodes further enhance their efficiency in the semiconductor and electronics industries. Safety features like physical beam stop and protective housing address compliance concerns, ensuring secure operations. With applications ranging from thin metal cutting to 3D cutting and tube welding, fiber lasers dominate the market, especially in industries requiring high power cutting and welding capabilities.

Additionally, the market is driven by innovations like Stimulated Raman scattering and Four-wave mixing, enhancing laser efficiency. Applications span from machining tools to printed circuits and engine parts, with superior precision owing to flexible fiber light and modulated modes. Safety features like emission indicators and compliance measures ensure secure operations. With high output power, fiber lasers dominate the semiconductor, electronics, and micro processing industries. They excel in flat sheet cutting, tube cutting, and even car body scanning, making them indispensable in modern manufacturing and fabrication processes.

Market Scope
Report Coverage	Details
Page number	173
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 11.43%
Market Growth 2024-2028	USD 4.05 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	10.51
Regional analysis	North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution	North America at 30%
Key countries	US, China, India, Japan, and South Korea
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Amonics Ltd., Apollo Instruments Inc., Calmar Laser Inc., Coherent Inc., CY Laser Srl, FANUC Corp., Furukawa Electric Co. Ltd., Hypertherm Inc., IPG Photonics Corp., Jenoptik AG, LNA Laser Technology, Lumentum Holdings Inc., LUMIBIRD SA, MACSA ID SA, MKS Instruments Inc., NKT AS, OMRON Corp., TOPTICA Photonics AG, TRUMPF SE Co. KG, and Wuhan Raycus Fiber Laser Technologies Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market report forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, APAC, Europe, Middle East and Africa, and South America
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of Industry companies

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