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Opportunities For The Global Fiber Laser Market To Reach $4.7 Billion By 2024
According to a new market report published by Lucintel, the future of the fiber laser market looks attractive with opportunities in material processing, instrumentation & measurement, and other applications. The global fiber laser market is expected to reach $4.7 billion by 2024 with a CAGR of 10.6% from 2019 to 2024. The major drivers for this market are rising demand for high powered laser machine for cutting and welding, need of laser beam with high beam quality with low cost features, and growing demand for 3D printing market.
In this market, various fiber laser, such as infrared, ultraviolet, ultrafast, and visible used in various applications. Lucintel forecasts that ultrafast is the largest fiber laser and it is also expected to witness the highest growth over the forecast period due to its excellent features, such as compact size, high beam quality, wall plug efficiency, and reliability.
Within the fiber laser market, material processing will remain the largest application over the forecast period. Increasing adaption of fiber laser in material processing procedures, such as cutting, welding, cladding, ...
... brazing, and drilling is expected to drive the market.
APAC will remain the largest region and it is also expected to witness highest growth over the forecast period due to increasing adaption of fiber laser in the material processing applications and growth of the electronics and automotive industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of ribbon core fibers, development of eco-friendly technology, and introduction of fiber laser in LIDAR in autonomous vehicles. IPG, Coherent Inc., Jenoptic Group, TRUMF, Keopsys Group, and NKT Photonics are among the major fiber laser providers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global fiber laser market by product type, application, usage, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Fiber Laser Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global fiber laser market by product type, application, usage, and the region as follows:
By Product Type [$M shipment analysis from 2013 to 2024]:
By Usage Type [$M shipment analysis from 2013 to 2024]:
• High Power Cutting & Welding
• Fine Processing
By Application [$M shipment analysis from 2013 to 2024]:
• Material Processing
• Instrumentation and Measurement
By Region [$M shipment analysis for 2013 to 2024]:
• North America
Ø United States
Ø United Kingdom
• Asia Pacific
• The Rest of the World
This 144-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Telecommunication Report, Telecommunication Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Matrix.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global fiber laser by product type (Infrared, Ultraviolet, Ultrafast, and Visible), by usage (High Power Welding & Cutting, Marking, Fine Processing, and Others), by applications ( Material Processing, Instrumentation & Measurement, and Others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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