According to the latest report by IMARC Group, titled “ Fiber Laser Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” , The global fiber laser market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
A fiber laser uses an optical fiber as an active medium doped in rare-earth elements like erbium, ytterbium, neodymium, thulium, praseodymium, holmium, and dysprosium. It is alignment and maintenance-free and offers advantages, including adaptability, compactness, reliability, cost-effectiveness and high energy levels.It is currently available in numerous forms, which can be adopted for welding heavy sheets of metal and producing femtosecond pulses.
Global Fiber Laser Market Trends:
Rapid industrialization, in confluence with the rising adoption of advanced technologies to enable automation in various manufacturing processes, represents one of the key factors bolstering market growth. Apart from this, due to the growing prevalence of chronic diseases among individuals, fiber lasers are gaining traction in the healthcare industry. They are used in dentistry, photodynamic therapy, and biomedical sensing for mid-infrared spectroscopy. Moreover, with the rising demand for electric vehicles (EVs), the application of fiber lasers is anticipated to rise in the internal combustion engines (ICEs).
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Global Fiber Laser Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, type and application.
Breakup by Type:
Breakup by Application:
Breakup by Region:
Key highlights of the report:
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