Fiber Laser Market Size Worth US$ 5,179.1 Million by 2027- Future Market Insights

VALLEY COTTAGE, New York, January 8, 2019 /PRNewswire/ --

A fiber laser is a type of industrial laser, typically solid-state laser, where the active medium is an RE (Rhenium) doped optical fiber developed by the optical pumping of diode lasers. These fibers are called active fibers and are comparable in diameter to a human hair. The laser emission is created within optical fibers and delivered through a flexible optical fiber cable. In addition, fiber lasers free end-users from fine mechanical adjustments and the high maintenance costs that are typical for conventional lasers. Attributing to their design and components, fiber lasers are more compact, reliable, efficient, robust and easier to operate than conventional lasers.

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Manufacturers are focusing on enhancing their production capabilities. That apart, high demand is being witnessed from aerospace and automotive industries, which has been fuelling the growth of the fiber laser market. As a result of these factors, the global market for fiber laser is expected to witness significant growth in 2018 and reach a market value of US$ 2,215.1 Mn while registering a Y-o-Y growth rate of 8.4% as compared to 2017. Furthermore, the global demand for fiber laser is also expected to be influenced by industrial developments and rising urbanisation in various regions. Moreover, price reduction and technical advancements in fiber laser equipment have also led to their application in 3D printers for material deposition, primarily for the aerospace industry.

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Recovery in global manufacturing value added is pulling in significant capital investments across the fiber laser market. With the general growth rate of various industrial sectors, such as aerospace and automotive, hovering at a number higher than the overall global economic growth number, new manufacturing capacity additions at a macro level are expected to come up in the coming years. This, in turn, is expected to support the growth of the fiber laser market across the globe.