LONDON--(BUSINESS WIRE)--The global fiber laser market is expected to post a CAGR of close to 10% over the period 2018-2022, according to the latest market research report by Technavio. However, the market is expected to decelerate over the forecast period owing to a decrease in the year-over-year growth.
A key factor driving the growth of the market is the increasing demand for high-powered fiber lasers. The increasing demand for high-powered pulse lasers will drive market growth during the forecast period. There has been a shift to high-powered lasers due to the growing number of applications of fiber lasers such as the non-destructive testing of materials. Some of the major industries where non-destructive testing is used include aeronautical engineering, medicine, petroleum engineering, and systems engineering.
This market research report on the global fiber laser market also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growth of the 3D printing market as one of the key emerging trends in the global fiber laser market:
Global fiber laser market: Growth of the 3D printing market
The increasing interest in 3D printing is a trend that defines the global fiber laser market. 3D printing permits the manufacture of highly complex structures with a high degree of customization and a lower percentage of wastage than traditional manufacturing processes. The development of 3D printing technology allows the production of three-dimensional objects from digital design data through an additive manufacturing process.
“There are several benefits of the additive manufacturing method such as reduced time-to-market, increased efficiency, and greater ROI over traditional manufacturing methods. This is encouraging end-users across different industries to adopt 3D printers in their manufacturing process,” says a senior analyst at Technavio for research on semiconductor equipment.
Global fiber laser market: Segmentation analysis
This market research report segments the global fiber laser market by application (materials processing, advanced application, healthcare, and others) and by geographical region (APAC, EMEA, and the Americas).
In 2017, the material processing segment accounted for the largest share of the market with a market share of over 87%. The market share of this segment is expected to witness the maximum growth over the forecast period while all the remaining segments will witness a decline in their market shares.
APAC held the highest share of the global fiber laser market accounting for close to 48% share during the forecast period followed EMEA and the Americas respectively. The market share of APAC is expected to witness the maximum growth over the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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