Fiber Laser Market: Global Industry Current Scenario, Development History, Business Current Analysis and Estimated Forecast to 2028
iCrowd Newswire
01 Jul 2021, 10:56 GMT+10
The fiber laser market was valued at US$ 2286.16 million in 2021 and is projected to reach US$ 4,765.43 million by 2028; it is expected to grow at a CAGR of 11.1% from 2021 to 2028.
Nowadays, fiber laser technology is attracting more attention due to several users of this technology in the field of micromachining, biology, and medical sciences or telecommunications and it's potential as a substitute for solid-state lasers in industrial and technological applications. The fiber laser is widely used over other lasers such as CO2 laser technology in industries because of high output power, high optical quality, compact size, and reliability. Fiber lasers are used for many applications such as laser marking, laser cutting, laser welding, laser engraving, laser ablation, and laser drilling. For example, in November 2019, nLIGHT, Inc. launched fiber laser for welding applications – a portfolio of fiber lasers from 3 kW to 15 kW with an integrated fiber coupler or beam switch optimized for welding, cladding, and robotic applications. Fiber lasers are less sensitive, and they can work in harsh environments better than other laser technologies. The fiber laser machine can work on a much wider variety of materials, including all metals, wood, leather, stone, ceramic, plastics, and glass with high-quality results on reflective and hard surfaces. Also, the machines usually produce low heat; hence, they do not damage the materials the user is working on.