Global Fiber Lasers Market to Grow at a CAGR of 10.6% During 2018-2022 | Report From TBRC

LONDON, Nov. 5, 2019 /PRNewswire/ -- New technologies such as high-power fiber laser and diode laser have been introduced in the fiber laser market. With 800 nm wavelength, diode laser has the deepest penetration levels. Another new technology, blue laser, has also been introduced in the market specially targeted for welding purposes. Blue laser has higher power and brightness compared to ordinary laser. Also, blue laser does not generate excess heat. These new technologies in fiber laser bring in more precision while welding and cutting of materials. Bystronic, a Switzerland-based laser company, is providing all new high power fiber laser and diode laser for welding, cutting and material processing purposes. Also, NUBURU, US-based company, invented and manufactures the high power blue laser technology. View Complete Report @ https://www.thebusinessresearchcompany.com/report/fiber-lasers-global-market-report

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Fiber lasers are used for welding, cutting and other material processing. A fiber integrates beam delivery and laser cavity into a single system inside an optical fiber wherein the beam is generated within the fiber, unlike the conventional lasers. The global fiber lasers market was valued at about $2.1 billion in 2018 and is expected to grow to $3.14 billion at an annual growth rate of 10.6% through 2022.

Growth Of The Automobile And Mobile Electronics Industries Drives Demand For Fiber Lasers

Increase in disposable income drives the growth of the automobile and mobile electronics industries which results in growth of the fiber laser market. According to CEIC Data, in 2018, there has been a 10% rise in disposal income in India which led to growth of automobile and mobile electronics industries. Thus, automobile and mobile electronics markets are growing at a rapid pace and the use of fiber lasers becomes indispensable to sustain the growth. Fiber laser is used for labeling, cutting and welding automobile parts. Use of fiber laser makes it easier and convenient for cutting small and complex automobile parts. Mobile electronics devices are getting compact day by day and thus the electronic industry also requires fiber laser to cut lean and fragile electronic parts. For instance, companies such as Laserline, Trumpf, and Coherent are developing fiber lasers specially focused on the automobile industry.

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Nonlinear Optical Effects Act As A Restraint On The Fiber Laser Market

Nonlinear optical effect is a phenomenon occurring due to the use of fiber laser which can lead to breakdown and damage of the material on which fiber laser is applied. Also, this can lead to overheating of the material and can cause severe damage to the material. FC Laser Ltd was skeptical about the use of fiber laser. FC Laser was not certain about the versatility and efficiency of the fiber laser and was much more comfortable using CO2 lasers.

Regulatory And Competitive Landscape Of The Global Fiber Lasers Market

The Center for Devices and Radiological Health (CDRH) is a regulatory body in the USA regulating the fiber laser market. CDRH is responsible for manufacturing, implication, performance, and safety pertaining to fiber laser devices. CDRH checks whether the devices are properly labelled and are equipped with safety equipment. CDRH oversees whether the manufacturer has provided with the correct classification of laser and whether the manufacturer has attached the warning labels on the device.

Major players in the global fiber lasers market are Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, and Jenoptik Laser GmbH. Companies have been investing in merger and acquisition activity to strengthen and expand their businesses. In November 2018, II-VI Incorporated, a global leader in engineered materials and optoelectronic components market, acquired Finisar Corporation for $3.2 billion. With this acquisition, II-VI will manufacture high quality and innovative fiber laser to strengthen its market position, increase operational efficiency and also widen its product portfolio. Finisar Corporation is a US-based global technology leader in optical communications.

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