Fiber Laser Market By Type, By Application: Global Opportunity Analysis and Industry Forecast, 2023-2032

Executive Summary

According to a new report, titled, 'Fiber Laser Market,' The fiber laser market was valued at $3.3 billion in 2022, and is estimated to reach $9.2 billion by 2032, growing at a CAGR of 11% from 2023 to 2032.

A fiber laser is a solid-state laser that generates a high-intensity laser beam through the process of stimulated emission. The laser utilizes an optical fiber as the gain medium or the source of laser light amplification. The core of a fiber laser consists of a specially designed optical fiber, often doped with rare-earth elements such as erbium, ytterbium, or neodymium. These dopants provide the necessary energy levels for the laser to operate. The fiber is surrounded by a cladding layer that helps confine and guide the light within the core.

Healthcare expenditure continues to rise globally due to the factors such as population growth, alarming increase in prevalence of chronic diseases, and advancements in medical treatments. In addition, innovations in areas such as robotics, artificial intelligence, 3D printing, nanotechnology, and biotechnology have facilitated the development of more advanced and sophisticated medical devices and equipment.

These technological advancements have improved patient outcomes, enhanced diagnostics, and expanded treatment options, thus driving the popularity of the industry. Fiber lasers find their application in the medical field, including surgery, dermatology, and dentistry. In addition, they can be used for precise cutting, ablation, and coagulation of tissues as well as for tattoo and pigmentation removal.

Fiber lasers can be more expensive upfront compared to other laser technologies, such as CO2 lasers or diode lasers. The initial investment cost for a fiber laser system, including the laser source, optics, and associated equipment, can be higher. Furthermore, maintenance and repairs are more complex as compared to other laser technologies, which incur additional cost and restrains the market growth. Furthermore, the fiber optics and optical components in fiber lasers require careful handling and alignment. In the event of damage or failure, specialized expertise may be required to repair or replace components. Thus, all these factors collectively hamper the growth of the fiber laser market.

On the contrary, the demand for battery has increased considerably in the recent years due to the factors such as widespread use of portable electronics, rise in popularity of electronics vehicles, and integration of renewable energy sources have spurred the demand for high-power marking fiber lasers. It has been used to mark essential information on batteries, such as capacity, voltage ratings, safety symbols, and manufacturer details. These marks aid in battery identification, proper usage, and compliance with safety standards. These supporting factors are responsible for the growth of the fiber laser market.

Furthermore, need for laser-based medical procedures is increasing due to their precision, minimal invasiveness, and shorter recovery time. Infrared-based fiber lasers are well-suited for these applications, due to their target-specific chromophores in tissues with minimal damage to surrounding areas. Thus, infrared fiber lasers find extensive use in the medical field for surgical procedures, dermatology treatments, and aesthetics, which acts as the key driving force of the overall market. In addition, There has been a noticeable shift from traditional laser technologies, such as CO2 and Nd:YAG lasers, to fiber lasers. Fiber lasers offer several advantages over traditional lasers, including higher beam quality, greater efficiency, compact size, lower maintenance requirements, and reduced operating costs. This trend towards fiber lasers as a preferred choice for industrial applications is driving market growth. This factor is projected to offer new avenues for the market
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.

The global fiber laser market is segmented into type, application, and region. On the basis of type, the market is categorized into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. By application, it is segregated high-power, marking, fine processing, and micro processing. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

These marks may include part numbers, ratings, safety symbols, and compliance markings for regulatory purposes. This factor is projected to drive the market during the forecast period. The global fiber laser market report profiles leading players that include Amonics Ltd, TRUMPF GmbH, Coherent, Inc., Quantel Group, IPG Photonics Corporation, NKT Photonics A/S, TOPTICA Photonics AG, Jenoptik Group, CY Laser SRL, and Apollo Instruments, Inc. The global fiber laser market report provides in-depth competitive analysis as well as profiles of these major players.

Companies Mentioned

• Amonics Ltd
• Apollo Instruments, Inc
• Coherent Corp.
• CY Laser SRL
• IPG Photonics Corporation
• Jenoptik Group
• NKT Photonics A/S
• Quantel Group
• Toptica Photonics AG
• TRUMPF

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.