The report covers comprehensive information about the fiber laser market dynamics, volume (Units) and value (US$ Mn) projections, recent developments and competitive landscape for the study period 2019 to 2027.

The global fiber laser market is expected to reach over US$ 5,179.1 Mn by the end of the forecast period, witnessing a value CAGR of 10.0%. Moreover, according to FMI analysis, in terms of volume, the global fiber laser market is estimated to reach 62,794 Units by 2018 end and is anticipated to reach 144,554 Units by 2027, exhibiting a CAGR of 9.8% over the forecast period.

Positive Outlook of the Automotive Industry, strongly backed by the Rise of Electric Vehicles

The rise of electric vehicles has substantially increased the utilization of new techniques for welding, cutting, and other material processing applications. Fiber laser, being at the forefront in terms of adoption rate across the automotive industry, is likely to witness substantial growth in the coming years.

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Reliability and Improved Productivity of Fiber Lasers enhance Market Size

Aerospace and automotive manufacturers are increasingly shifting to fiber lasers to tackle manufacturing challenges. Given the fact that where precision is important, fiber lasers are stable and reliable equipment as they offer the finest beam quality for material processing applications.

A compared to traditional manufacturing processes such as conventional laser welding (gas and solid-state) or resistance spot welding, fiber lasers offer improved energy efficiency, lower maintenance requirements, smaller machine footprint, faster cycle times for high-volume production and improved machine lifetime. Consequently, in fiber laser processes, speed can be maximized whilst material costs and operation costs are minimized.

High-Power Fiber Lasers to witness Notable Growth and Adoption Rate

Heightened use of sheet metal in various end-use industries such as aerospace and automotive is anticipated to augment the sales of fiber lasers. Fiber lasers are widely used in sheet metal cutting applications as a consequence of their unparalleled combination of precision, productivity and cost-effectiveness. Fiber lasers with a power range of 2kW to 6kW have become mainstays for many fabrication and manufacturing sites, offering precise and faster cutting of thin metal as compared to conventional cutting technologies such as carbon dioxide (CO2) lasers and plasma torches.

“Made in China 2025” – Manufacturing Strategy in China to Pave Way for Fiber Laser Market Growth

Fiber laser metal cutting, a key component in the fabricated metal product segment of manufacturing used across China, is a key contributor in a country’s Gross Domestic Product (GDP). The high popularity of fiber lasers, specifically in metal cutting applications, is foreseen to encourage the demand for these lasers. Importantly, high growth rates in welding applications have also been adding to the increase in fiber laser revenue.

A wide range of companies participate in the value chain of the fiber laser market, and prominent processing system manufacturers such as Coerent Inc. and Trumpf have been quick to acquire companies along the value chain to ensure both innovative development and access to emerging technologies.

In the figure, FMI has presented the overall industrial laser market scenario and the fiber laser market share analysis by application.

Fiber Laser Market – Competitive Landscape

According to the analysis, the global fiber laser market is primarily consolidated and a meagre number of stakeholders held significant market shares in 2017. In the global fiber laser market, the top 5-6 players collectively account for more than 86% of the market share.

In the recent past, the fiber laser market has witnessed significant developments from a competition perspective. Acquisitions and expansion of manufacturing facilities in prominent regions such as China, ASEAN are some of the key cited strategies opted by prominent players to sustain in the global fiber laser market.

In 2014, Newport Corporation completed the acquisition of V-Gen Ltd., a prominent developer and manufacturer of fiber laser headquartered in Tel Aviv, Israel

In 2016, Coherent, Inc., one of the world's prominent providers of lasers and laser-based technology for commercial, scientific and industrial customers has completed the US$ 942 Million acquisition of Rofin-Sinar Technologies

Prominent players covered in this market study include IPG Photonics Corporation, TRUMPF GmbH + Co. KG, Maxphotonics Co., Ltd., Coherent Inc., Newport Corporation, Wuhan Raycus Fiber Laser Technologies Co., Ltd., Lumentum Operations LLC, Fanuc Corporation, Furukawa Electric Co., Ltd., Keopsys S.A., Fujikura Ltd., and NLIGHT, Inc.