Fiber Laser Market Analysis: How Emerging Applications Are Shaping the Future
The fiber laser market to grow from USD 7.7 billion in 2024 and is expected to reach USD 12.8 billion by 2029, growing at a CAGR of 10.8% from 2024 to 2029. The key factors contributing to the growth of the fiber laser market include the Industrial automation boosts fiber laser adoption for their precision, efficiency, and reliability, growing demand for fiber lasers in medical and healthcare industries, rising adoption of fiber lasers in consumer electronics, expansion of 3D printing and additive manufacturing. Fiber lasers offers high energy efficiency, low maintenance, and long lifespan
Continuous wave to hold largest share of fiber laser
market from 2024 to 2029.
With the advancement in laser technology and growing
automation of manufacturing, continuous wave (CW) fiber lasers are gaining more
popularity. Thus, industries are adopting fiber lasers due their high
performance and reliability for higher productivity and cost-effectiveness. As
new technologies evolve CW fiber lasers will revolutionize the way in which
end-products are manufactured across various industries.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=87036569
High power fiber lasers segment to grow at highest CAGR
from 2024 to 2029
High power fiber lasers are designed and well suited for
industrial manufacturing, automotive, oil & gas, and iron & steel
sectors. High power fiber lasers are utilized in application which requires
high power, precision and cost-effectiveness making them indispensable for
challenging tasks such as thick metal cutting, deep welding as well as
high-speed drilling. High power fiber lasers offer an efficient tool for higher
productivity, shorter production times and improved overall operational efficiency
in various sectors.
Ultrafast fiber laser to grow at second fastest CAGR from
2024 to 2029
The ultrafast fiber laser segment is set to have the second
fastest growth rate during forecast period from 2024 to 2029. Due to rising
need for high precision tools in various fields such as medical research,
healthcare, and manufacturing the market for ultrafast fiber laser is booming.
Ultrafast fiber lasers release high powerful pulses, which allows for
micro-machining, delicate cutting, and complicated fabric processing with low
heat damage. As industries look for ways to boost efficiency and accuracy in
complex manufacturing tasks, the market for ultrafast fiber lasers is expected
to grow during the forecast period.
Europe held the second largest share of the fiber
laser market in 2023.
The fiber laser market in Europe is growing due to the
rising demand for high-bandwidth broadband connections, for instance, as of
2023 92% of European union households are are having internet access. Key
players automotive, aerospace & defense, and medical sectors, such as
Volkswagen, Daimler, Airbus, Dassault Aviation, and Novartis, further fuels the
demand for fiber laser products and solutions. Companies like TRUMPF (Germany),
JENOPTIK AG (Germany), LUMIBIRD (France), and Bystronic Laser (Switzerland) contributes
to the growth of fiber laser market.
Coherent Corp. (US), Trumpf (Germany), Han's Laser
Technology Industry Group Co., Ltd (China), IPG Photonics Corporation (US), and
Wuhan Raycus Fiber Laser Technologies Co., Ltd. (China). are the major
players in fiber laser market. These players have implemented various
strategies to extend their global reach and enhance their market shares.
Know more Information @
https://www.marketsandmarkets.com/Market-Reports/fiber-lasers-market-87036569.html
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine offering to drive
supernormal growth for progressive organizations in the B2B space. We have the
widest lens on emerging technologies, making us proficient in co-creating
supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion
of new revenue streams that are substituting existing revenue streams in this
decade alone. We work with clients on growth programs, helping them monetize
this $25 trillion opportunity through our service lines - TAM Expansion,
Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account
Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive
ecosystem. Our insights and strategies are molded by our industry experts,
cutting-edge AI-powered Market Intelligence Cloud, and years of research. The
KnowledgeStore™ (our Market Intelligence Cloud) integrates our research,
facilitates an analysis of interconnections through a set of applications,
helping clients look at the entire ecosystem and understand the revenue shifts
happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or
follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments: