Global Fiber Laser Market

Global Fiber Laser Market Size, Share, Growth Analysis, By Power output(Low power and high power), By Application(Automotive, aerospace), By Geometric configuration(Continuous wave (CW) fiber lasers and pulsed fiber lasers) - Industry Forecast 2023-2030


Report ID: SQMIG20I2101 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 88 | Figures: 76

Global Fiber Laser Market Insights

Global Fiber Laser Market size was valued at USD 3.86 Billion in 2022 and is poised to grow from USD 4.31 Billion in 2023 to USD 10.36 Billion by 2031, at a CAGR of 11.6% during the forecast period (2024-2031). 

Global Fiber Laser Market is a thriving industry at the forefront of laser technology, revolutionizing multiple sectors and driving remarkable advancements. Fiber lasers, utilizing optical fibers as the gain medium, have gained immense popularity due to their exceptional efficiency, compact design, and unparalleled reliability. This market serves the purpose of meeting the growing demand for high-quality laser systems across diverse industries. The market's growth is primarily driven by key factors such as increasing adoption in industrial manufacturing, rising demand for fiber lasers in the automotive and aerospace sectors, and technological advancements enabling enhanced laser performance. Additionally, the market benefits from the restraints faced by traditional laser systems, such as limitations in power and efficiency. Furthermore, key trends in the fiber laser market include the integration of fiber lasers in automated production processes, the emergence of ultrafast fiber lasers for precision applications, and the development of high-power fiber lasers for heavy-duty industrial operations. These trends open up abundant opportunities for market players to tap into the expanding applications of fiber lasers across sectors, including cutting-edge medical device manufacturing, advanced materials processing, and next-generation communication systems. With impressive growth rates, market predictions indicate a promising future for the global fiber laser market, paving the way for remarkable innovations and transforming industries worldwide.

US Fiber Laser Market is poised to grow at a sustainable CAGR for the next forecast year

Market snapshot - 2024-2031

Global Market Size

USD 3.86 Billion

Largest Segment

High Power

Fastest Growth

High Power

Growth Rate

11.6% CAGR

Global Fiber Laser Market ($ Bn)
Country Share for North America Region (%)
Global Fiber Laser Market By Power Output ($ Bn)
Global Fiber Laser Market By Power Output (%)

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Global Fiber Laser Market Segmental Analysis

Global Fiber Laser Market is segmented on the basis of power output, application, geometric configuration, and region. By power output, the market is segmented into low power and high power. By application, the market is segmented into automotive, aerospace, electronics, medical, and defense. By geometric configuration, the market is segmented into continuous wave (CW) fiber lasers and pulsed fiber lasers. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis By Power Output

High power is the largest segment in terms of market share. High power fiber lasers are known for their exceptional performance and capability to deliver substantial laser power output for demanding industrial applications. With their ability to cut through thick materials with precision and efficiency, high power fiber lasers have become the preferred choice in industries such as automotive, aerospace, and heavy machinery manufacturing.

On the other hand, the fastest growing segment in the global market is the low power segment. While high power fiber lasers dominate the market, the low power segment has been experiencing rapid growth due to its expanding applications in sectors such as electronics, medical devices, and jewelry. The demand for low power fiber lasers is driven by the need for intricate and delicate material processing, fine engraving, and marking applications. These lasers offer excellent beam quality and high precision, making them ideal for microfabrication, PCB manufacturing, and medical instrument production.

Analysis By Geometric Configuration

The largest segment in the global market is the continuous wave (CW) fiber lasers. These lasers operate by emitting a continuous beam of laser light, ensuring a steady and uninterrupted power output. The popularity of CW fiber lasers can be attributed to their versatility and widespread adoption in various industrial applications. With their ability to deliver consistent and sustained power, CW fiber lasers are ideal for precision cutting, welding, and engraving processes in industries such as automotive, electronics, and medical device manufacturing. This segment's dominance is substantiated by its extensive market share, reflecting the trust and preference of industries seeking reliable and continuous laser performance.

On the other hand, the fastest-growing segment in the fiber laser market is pulsed fiber lasers. Pulsed fiber lasers emit laser beams in short pulses, resulting in high peak powers and precise control over energy delivery. This segment is witnessing rapid growth due to the increasing demand for laser systems in emerging applications and industries. Pulsed fiber lasers find significant traction in fields like microprocessing, micromachining, and scientific research where ultrafast and precise laser pulses are crucial. Furthermore, the adoption of pulsed fiber lasers in emerging sectors such as 3D printing, photovoltaics, and bioengineering is fueling its accelerated growth rate. This segment's remarkable expansion is substantiated by its rising market share, indicating the recognition of the unique capabilities and advantages offered by pulsed fiber lasers.

Global Fiber Laser Market By Power Output, 2022 (%)

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Global Fiber Laser Market Regional Insights

North America dominated the fiber laser market, known for its robust industrial infrastructure and technological advancements. With a strong presence of key market players and high adoption rates in industries such as automotive, aerospace, and electronics manufacturing, North America commands a considerable market share. For instance, leading companies like IPG Photonics Corporation and Coherent, Inc. have established their headquarters in the region, driving the market's growth through their cutting-edge fiber laser technologies. North America's market share is expected to continue expanding due to the region's emphasis on automation and precision manufacturing, thereby driving the demand for fiber laser systems.

On the other hand, the Asia Pacific region represents the fastest-growing region in the fiber laser market. With emerging economies like China and India experiencing rapid industrialization and technological advancements, the region has witnessed a surge in the adoption of fiber lasers. Asia Pacific is poised to capitalize on its market potential with numerous applications across industries such as automotive, electronics, and medical device manufacturing. For instance, Chinese company Han's Laser Technology Industry Group Co., Ltd. has been a prominent player in the market, offering a wide range of fiber laser solutions. The Asia Pacific region's fast-growing market share can be attributed to its expanding manufacturing sector, increasing investments in infrastructure development, and the rising demand for high-quality laser systems.

Global Fiber Laser Market By Geography, 2024-2031
  • Largest
  • Fastest

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Global Fiber Laser Market Dynamics

Drivers

Increasing Adoption in Industrial Manufacturing

  • The demand for fiber lasers in industrial manufacturing is a major driver of market growth. Fiber lasers offer high precision, speed, and efficiency, making them ideal for applications such as cutting, welding, and marking in industries like automotive, aerospace, and electronics. For example, automotive manufacturers use fiber lasers to achieve precise and efficient welding of car body components, resulting in improved production processes and higher product quality.

Restraints

Initial High Investment Costs

  • One of the key restraints in the fiber laser market is the relatively high initial investment required for adopting fiber laser systems. The installation and integration of fiber laser equipment can involve significant capital expenditure for companies, especially small and medium-sized enterprises. However, as the market matures and technology advances, the costs are expected to decrease, making fiber lasers more accessible to a wider range of businesses.

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Global Fiber Laser Market Competitive Landscape

Global Fiber Laser Market features a highly competitive landscape, characterized by the presence of several prominent players striving for market dominance. These key players are engaged in intense competition through strategies such as product development, partnerships, mergers and acquisitions, and technological advancements. Some of the major contenders in the market, leveraging their strong R&D capabilities and extensive product portfolios. These players have established themselves as industry leaders by offering a wide range of fiber laser systems catering to diverse industrial applications. Additionally, the market is witnessing the entry of new players, further intensifying the competition. As the demand for fiber lasers continues to grow, competition among market players is expected to escalate, driving innovation and the development of more advanced and cost-effective fiber laser solutions. Market participants are also focusing on expanding their global presence, strengthening distribution networks, and enhancing customer relationships to gain a competitive edge.

Top Player’s Company Profiles

  • IPG Photonics Corporation (US)
  • Coherent, Inc. (US)
  • Trumpf GmbH + Co. KG (Germany)
  • Raycus Co., Ltd. (China)
  • nLight, Inc. (US)
  • Han's Laser Technology Industry Group Co., Ltd. (China)
  • Lumentum Holdings Inc. (US)
  • Jenoptik AG (Germany)
  • Keopsys Group (France)
  • EKSPLA (Lithuania)
  • Fujikura Ltd. (Japan)
  • Quantel Group (France)
  • Maxphotonics Co., Ltd. (China)
  • Toptica Photonics AG (Germany)
  • MKS Instruments, Inc. (US)
  • Newport Corporation (US)
  • Novae Laser Systems (France)
  • FANUC Corporation (Japan)
  • Amplitude Laser Group (France)
  • SPI Lasers UK Ltd. (UK)

Recent Development

  • In February 2024, Bystronic has introduced the ByCut Eco fibre laser. With up to 6kW of fibre power, a broad range of materials can be processed, from steel and stainless, to non-ferrous metals such as aluminum, copper, and brass. 
  • In November 2023, Newcastle-based MITS Alloy, renowned for its heavy-duty aluminium Ute trays and canopies, embraced advanced manufacturing technologies to enhance production efficiency and broaden its manufacturing capabilities. This expansion prompted an investment in new sheet metal equipment, including a Yawei fibre laser and Weber deburrer, provided by Applied Machinery. 
  • In August 2023, LUMIBIRD Group, the European leader in laser technologies, completed an agreement with the Italian company Prima Industrie to acquire its subsidiary Convergent Photonics (Turin, Italy) and the Convergent assets of Prima Industrie North America (Boston, USA). This acquisition provides Lumibird with innovative solutions and autonomy in semiconductors and high-power fibre lasers, while opening up new markets. 

Global Fiber Laser Key Market Trends

  • Integration of Fiber Lasers in Additive Manufacturing: A prominent trend in the fiber laser market is the integration of fiber lasers in additive manufacturing or 3D printing processes. Fiber lasers are used for selective laser melting (SLM) and selective laser sintering (SLS) techniques to melt or fuse materials layer by layer, enabling the production of complex and customized parts. This trend is revolutionizing industries such as aerospace and medical device manufacturing, where additive manufacturing is used for lightweight and personalized component production.

Global Fiber Laser Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Fiber Laser Market analysis, the market analysis reveals that the increasing demand for efficient and precise laser systems across industries, coupled with technological advancements in fiber laser technology, are the primary drivers of this growth. The industrial manufacturing sector, in particular, is witnessing a significant adoption of fiber lasers for applications such as cutting, welding, and marking, fueled by the need for enhanced productivity and cost-effectiveness. Moreover, the automotive and aerospace industries are embracing fiber lasers for their high processing speeds and exceptional precision. The market analysis also highlights the rising trend of fiber lasers replacing traditional laser systems, given their superior performance and reliability. Furthermore, the emergence of ultrafast fiber lasers and high-power fiber lasers presents lucrative opportunities for market players to cater to specialized applications in areas such as medical devices and telecommunications.

Report Metric Details
Market size value in 2022 USD 3.86 Billion
Market size value in 2031 USD 10.36 Billion
Growth Rate 11.6%
Base year 2022
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Power output
    • Low power and high power
  • Application
    • Automotive, aerospace, electronics, medical, and defense
  • Geometric configuration
    • Continuous wave (CW) fiber lasers and pulsed fiber lasers
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IPG Photonics Corporation (US)
  • Coherent, Inc. (US)
  • Trumpf GmbH + Co. KG (Germany)
  • Raycus Co., Ltd. (China)
  • nLight, Inc. (US)
  • Han's Laser Technology Industry Group Co., Ltd. (China)
  • Lumentum Holdings Inc. (US)
  • Jenoptik AG (Germany)
  • Keopsys Group (France)
  • EKSPLA (Lithuania)
  • Fujikura Ltd. (Japan)
  • Quantel Group (France)
  • Maxphotonics Co., Ltd. (China)
  • Toptica Photonics AG (Germany)
  • MKS Instruments, Inc. (US)
  • Newport Corporation (US)
  • Novae Laser Systems (France)
  • FANUC Corporation (Japan)
  • Amplitude Laser Group (France)
  • SPI Lasers UK Ltd. (UK)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Fiber Laser Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Fiber Laser Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Fiber Laser Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fiber Laser Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Fiber Laser Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Fiber Laser Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Fiber Laser Market size was valued at USD 3.86 Billion in 2022 and is poised to grow from USD 4.31 Billion in 2023 to USD 10.36 Billion by 2031, at a CAGR of 11.6% during the forecast period (2024-2031). 

Global Fiber Laser Market features a highly competitive landscape, characterized by the presence of several prominent players striving for market dominance. These key players are engaged in intense competition through strategies such as product development, partnerships, mergers and acquisitions, and technological advancements. Some of the major contenders in the market, leveraging their strong R&D capabilities and extensive product portfolios. These players have established themselves as industry leaders by offering a wide range of fiber laser systems catering to diverse industrial applications. Additionally, the market is witnessing the entry of new players, further intensifying the competition. As the demand for fiber lasers continues to grow, competition among market players is expected to escalate, driving innovation and the development of more advanced and cost-effective fiber laser solutions. Market participants are also focusing on expanding their global presence, strengthening distribution networks, and enhancing customer relationships to gain a competitive edge. 'IPG Photonics Corporation (US)', 'Coherent, Inc. (US)', 'Trumpf GmbH + Co. KG (Germany)', 'Raycus Co., Ltd. (China)', 'nLight, Inc. (US)', 'Han's Laser Technology Industry Group Co., Ltd. (China)', 'Lumentum Holdings Inc. (US)', 'Jenoptik AG (Germany)', 'Keopsys Group (France)', 'EKSPLA (Lithuania)', 'Fujikura Ltd. (Japan)', 'Quantel Group (France)', 'Maxphotonics Co., Ltd. (China)', 'Toptica Photonics AG (Germany)', 'MKS Instruments, Inc. (US)', 'Newport Corporation (US)', 'Novae Laser Systems (France)', 'FANUC Corporation (Japan)', 'Amplitude Laser Group (France)', 'SPI Lasers UK Ltd. (UK)'

The demand for fiber lasers in industrial manufacturing is a major driver of market growth. Fiber lasers offer high precision, speed, and efficiency, making them ideal for applications such as cutting, welding, and marking in industries like automotive, aerospace, and electronics. For example, automotive manufacturers use fiber lasers to achieve precise and efficient welding of car body components, resulting in improved production processes and higher product quality.

Integration of Fiber Lasers in Additive Manufacturing: A prominent trend in the fiber laser market is the integration of fiber lasers in additive manufacturing or 3D printing processes. Fiber lasers are used for selective laser melting (SLM) and selective laser sintering (SLS) techniques to melt or fuse materials layer by layer, enabling the production of complex and customized parts. This trend is revolutionizing industries such as aerospace and medical device manufacturing, where additive manufacturing is used for lightweight and personalized component production.

North America dominated the fiber laser market, known for its robust industrial infrastructure and technological advancements. With a strong presence of key market players and high adoption rates in industries such as automotive, aerospace, and electronics manufacturing, North America commands a considerable market share. For instance, leading companies like IPG Photonics Corporation and Coherent, Inc. have established their headquarters in the region, driving the market's growth through their cutting-edge fiber laser technologies. North America's market share is expected to continue expanding due to the region's emphasis on automation and precision manufacturing, thereby driving the demand for fiber laser systems.

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Global Fiber Laser Market

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