Europe Fiber Laser Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Application

High Power Cutting and Welding Segment to Dominate Europe Fiber Laser Market During 2021-2028

According to a new market research study on “Europe Fiber Laser Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 1,268.89 million by 2028 from US$ 629.14 million in 2021. The market is estimated to grow at a CAGR of 10.5% from 2021 to 2028. The report provides trends prevailing in the Europe fiber laser market along with the drivers and restraints pertaining to the market growth. Growing 3D printing technology and rising automotive production are the major factor driving the growth of the Europe fiber laser market. However, reduction in cutting speed when processing thicker materials hinders the growth of Europe fiber laser market.

In case of COVID-19, Europe is among the worst-hit regions by the pandemic specially Russia. The region represents one of the largest automotive market across the globe. However, the COVID-19 pandemic has slowed down the production of automobiles which has negatively impacted the growth of the fiber laser market in the region. During the pandemic, Germany, Italy, France, the UK, and Ireland have witnessed a huge revenue decline from their manufacturing industries. Also, the COVID-19 has adversely impacted the airline services, which has caused a sudden drop in the aircraft manufacturing due to non-operating of passenger airline services across the world. Moreover, Due to partial cargo transport operations, it has caused disruptions in the supply of raw materials, owing to the limitations in cross-border movements over the first quarter of 2020, thereby triggering supply delays and massive fallouts in production. Hence, the COVID-19 pandemic has had a negative impact on the region’s manufacturing sector, which has also adversely impacted to the fiber laser market in Europe.

The Europe fiber laser market has been analyzed on the basis of type, application, and country. Based on type, the market is segmented into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser, and visible fiber laser. The infrared fiber laser segment dominated the Europe fiber laser market in 2020 and ultrafast fiber laser segment is expected to be fastest growing during forecast period. In terms of application, the market is segmented into high power cutting and welding, fine processing, marking, and micro processing. The high power cutting and welding segment dominated the Europe fiber laser market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.

Active Fiber Systems GmbH; Coherent, Inc.; Convergent Photonics; Fujikura Ltd.; IPG Photonics Corporation; Jenoptik AG; Maxphotonics Co,.Ltd; nLIGHT, Inc.; TRUMPF GmbH + Co. KG; and Wuhan Raycus Fiber Laser Technologies Co. Ltd. are among the leading companies in the Europe fiber laser market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2016, Fujikura Ltd. had launched a new air-cooled 500W single-mode CW fiber laser. This CW fiber laser has its application in micro-welding of electronic components & connecting parts, welding of sheet metal & non-metal, additive manufacturing, processing of highly reflective materials such as copper & aluminum, and surface processing

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe fiber laser market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Europe fiber laser market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the fiber laser market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution