Industrial fiber laser: Key market research findings
- Macromaterial segment accounts for a majority of the market’s revenue
- Key vendors – Coherent, IPG Photonics, Rofin-Sinar Technologies, and Trumpf
Technavio’s market research analysts predict the global market for industrial fiber laser to grow at a CAGR of close to 14% between 2016 and 2020. The market’s growth can be accredited to the increasing replacement of conventional lasers with fiber lasers. Many users are replacing conventional lasers, such as CO2 lasers, with fiber lasers, as the latter is more energy efficient, cuts faster, and requires less maintenance. In a fiber laser, the beam is delivered through a fiber-optic cable, instead of expensive optics, and through a shielded lens head. During 2015, the global market for fiber laser was dominated by APAC with a market share of around 47%. The large number of consumer electronics manufacturers in the region, especially in countries such as China, Japan, South Korea, India, and Taiwan coupled with the growing industrial sector is expected to drive the industrial fiber laser market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the industrial fiber laser segments based on the application.
“The market is currently witnessing the evolution of lasers with ribbon cores. These fibers are made up of a line of doped silica rods surrounded by undoped rods to increase the beam quality. The central ribbon core has a high refractive index, which helps in focusing the light. This technology integrates different systems and uses fewer components for operations; thereby, reducing the size and sophisticated nature of the equipment,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The macromaterial processing segment accounted for over 59% of the overall market to become the key revenue generating segment of the market in 2015. Macromaterial processing includes applications like cutting and welding different materials. These processes require lasers with high power efficiency, good-quality beams, and low investment and maintenance costs. The cutting and welding market is an important part of the manufacturing industry. This segment of the market is expected to grow in tandem with the manufacturing sector.
The key vendors in the global industrial fiber laser market are Coherent, IPG Photonics, Rofin-Sinar Technologies, and Trumpf. The market is characterized by the presence of several well-established and small scale fiber laser manufacturers and is currently dominated by the leading vendors. The market has a huge growth potential and will attract several new vendors in the coming years. Fiber laser companies are currently competing on the basis of innovation in technology and product pricing and are also focusing on developing value chains in which the whole process from components assembly to value added services are involved. The forecast period will also witness large vendors acquiring small vendors to increase their market shares and also to reduce the cost of their products.
A more detailed analysis is available in the Technavio report, Global Industrial Fiber Laser Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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