Fiber lasers are a type of solid-state laser that uses optical fibers doped with rare-earth elements as the gain medium. They are known for their efficiency, high beam quality, and compact size, making them suitable for various industrial applications, including cutting, welding, and marking. Fiber lasers market includes revenues earned by high beam quality, and compact size, making them suitable for various industrial applications, including cutting, welding, and marking. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Driver - rise in disposable income
The rise in disposable income will propel the growth of the fiber laser market going forward. After deducting taxes from their total income, households have more money available for spending and saving due to a rise in disposable income. This increase allows consumers to have greater financial flexibility, leading to higher consumption of goods and services, investment opportunities, and improved overall economic growth. The rise in disposable income is driven by several key factors, including economic growth, tax cuts and reforms, increased employment opportunities, and inflation control. A rise in disposable income leads to increased consumer spending, improved quality of life, and greater investment opportunities, as individuals have more financial resources to allocate toward purchasing goods and services, enhancing their overall well-being, and investing in their future. Fiber lasers contribute to an increase in disposable income by improving productivity, cutting costs, generating jobs, promoting innovation, and making products more affordable, all of which create a positive ripple effect throughout the economy.
For instance, in 2023, according to the Eurostat, the statistical office of the European Union - Luxembourg based analysis, and dissemination of statistical data related to the EU, total health spending in Canada is anticipated to rise Household real income per capita decreased by 0.3% in the third quarter of 2023, following a period of stability in the second quarter, after increasing by 0.1% in the previous quarter, Therefore, the rise in disposable income driving the growth of the Fiber lasers market.
Driver - growing aerospace industry
The growing aerospace industry will propel the growth of the fiber laser market going forward. The aerospace industry encompasses the research, design, production, operation, and maintenance of aircraft, spacecraft, and associated systems and equipment. The aerospace industry is expanding due to several key factors, including rising air travel demand, technological advancements, space exploration and commercialization, and increased defense and military spending. Fiction books can indirectly support the growth of the aerospace industry by fostering public engagement and promoting critical thinking. For instance, in September 2024, according to the Aerospace Industries Association (AIA), a United States-based organization upholding and advancing the aerospace and defense industry, American-made products saw a significant boost, with U.S. aerospace and defense exports rising by an impressive 21 percent from 2022 to 2023, reaching a total of $135.9 billion. Therefore, the growing aerospace industry is driving the growth of the fiber laser market.
Trend - Technological Advancements
Major companies operating in the fiber lasers market are developing innovative technology, such as precision cutting, to enables the creation of intricate shapes. Precision cutting involves the use of advanced technologies such as lasers, water jets, or plasma cutters to cut materials with exceptional accuracy and minimal error. For instance, in April 2022, BWT, a China-based Water Technology company, launched ultra-high-power industrial-grade fiber laser is a sophisticated laser system that employs optical fibers as its gain medium to produce intense and focused beams of light, usually exceeding 100kW in output power. These lasers are specifically engineered for rigorous industrial applications such as cutting, welding, and engraving, particularly on thick materials like metals. With superior beam quality and high energy efficiency, ultra-high-power fiber lasers enable precise processing while minimizing thermal distortion. Their versatility, durability, and lower maintenance requirements make them increasingly popular across various sectors, including automotive, aerospace, and manufacturing. The development of these lasers represents a significant leap forward in laser technology, facilitating improved performance and efficiency in high-end manufacturing processes.
M & A –
In May 2024, Hamamatsu Photonics K.K, a Japan-based manufacturer of photonic devices and systems, acquired NKT Photonics for an undisclosed amount. The aim of the acquisition is to integrate Hamamatsu Photonics' detectors and cameras to provide unique system solutions across various markets, including quantum computing, semiconductors, and hyperspectral imaging. NKT Photonics is a Denmark-based high-performance fiber lasers company that specializes in developing advanced laser products
