Strong demand for fiber lasers
Recent studies predict annual growth rates of 12 percent. By 2022, the world market for fiber lasers will grow to USD 3.26 billion.
Market researchers at UK-based TechNavio forecast strong demand for fiber lasers. According to their recent study, “Global Fiber Laser Market 2017–2021,” worldwide sales will increase by about 12 percent per year during the period under consideration. The most important players in the market will be Coherent / Rofin, IPG Photonics, Newport, and Trumpf.
The authors believe that the increasing use of fiber lasers in medical applications is an important growth engine. Because of their ability to focus accurately, they are often used in eye, heart, and vascular surgery and also in spinal surgery. But the most important and, by far, the largest market is material processing, where fiber lasers are used for cutting, welding, structuring, and labeling. Market analysts expect that sales volumes in the areas of laser cutting and welding will almost double. Fiber lasers are also in demand in the growing 3D printing market.
Market shares of fiber lasers are growing
In addition, according to the TechNavio study, the electronics industry is increasingly using fiber lasers because of their precision. This is also the reason why the authors expect to see the strongest growth in Asia where the electronics industry is rapidly changing its production processes over to fiber lasers.
With the predicted growth rate of 12 percent, the market for fiber lasers will increase twice as fast as the overall laser market, which is also growing strongly. Accordingly, current market studies expect that the share of fiber technology in the overall market will increase considerably. In 2015, this was 30 percent, which is forecast to rise to almost 40 percent by the start of the next decade. Sales should increase to USD 2.6 billion by 2020—and, with the forecast 12 percent growth, should be about USD 3.26 billion by 2022.