What is the Global Fiber Laser Market Size?
The Global Fiber Laser Market is expected to reach USD XXX billion by 2022 from its current market value of USD XXX billion at a growing CAGR of approximately XXX. A fiber laser is an optical fiber induced laser that constitutes rare elements on earth like erbium, ytterbium, neodymium, dysprosium, praseodymium, thulium and holmium. It plays a significant role in the applications like laser cutting, welding, and folding of polymers and metals.
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Factors Driving the Growth of Global Fiber Laser market:
Fiber lasers are also having distinct advantages that can be employed to the improve the output power and optical quality. The compact size of these lasers is beneficial compared to glass or rod lasers as it can be coiled and bent according to space. The surface acoustic wave devices are incorporating the fiber lasers to increase their performance, replacing the solid-state lasers. These fiber lasers are also having applications in the areas like material processing, telecommunications, spectroscopy, medicine, and directed energy weapons.
The increasing use of high-powered pulse lasers in the non-destructive testing in the leading industries like electrical engineering, aeronautical, petroleum, forensic, mechanical, civil, and systems engineering is one of the principal factors driving the growth of the global fiber laser market. The growing trend of 3D printing in aerospace and defence, consumer electronics, healthcare, and several others industries is another growth driver for the global market. However, the major dependence on the limited number of suppliers is the major factor inhibiting the expansion of the market.
Based on the regional analysis, the global fiber laser market is segmented into the regions of North America, Latin America, Middle East & Africa, Asia Pacific and Europe. The increasing applications of these fiber lasers in different industries and the growing economies of several developing nations are the significant factors supporting the market growth in all the regions.
Some of the leading companies in the Global Fiber Laser market:
IPG, Coherent, Trumpf, nLight, Newport, Active Fiber Systems, Hypertherm, Lumentum, AdValue Photonics, IMRA America, NP Photonics, Calmar Laser, Furukawa Electric, Wuhan Raycus, United Winners, Hanslaser, Max Photonics, JPT Opto-electronics, Shanghai Feibo, Fanuc Corporation, Mitsubishi Cable, and Keopsys are some of the leading contributor to the worldwide fiber laser market.
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