New York, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fiber lasers Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151585/?utm_source=GNW
17 billion in 2020 to $2.36 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.4 billion in 2025 at a CAGR of 9.6%.
The fiber laser market consists of sales of fiber lasers.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 fiber lasers market covered in this report is segmented by type into infrared fiber laser, ultraviolet fiber laser, ultrafast fiber laser. It is also segmented by aplication into marking, micro processing, high power, fine processing and by end use into material processing, healthcare into others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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 laser.
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 the welding purpose.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 brings 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 purpose. Also, NUBURU, US-based company invented and manufactures the high-power blue laser technology.
In November 2018, II-VI Incorporated, a global leader in engineered materials and optoelectronic components, 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, a US-based global technology leader in optical communications.
Rise in disposable income drives the growth of automobile and mobile electronics industries which results in growth of the fiber laser market.According to CEIC Data, 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 use of fiber lasers becomes indispensable to sustain the growth.Fiber laser is used for labelling, 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 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 automobile industry.
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 device is 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.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151585/?utm_source=GNW
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