The major trend being witnessed in the global fiber laser market is the increased investment in the development of fiber laser manufacturing plants. Owing to the increasing demand for fiber laser, a large number of companies engaged in the production of the product are pouring in fresh investments. The fresh capital infusion is directed toward venturing into new markets, strengthening the production capacity, and introducing new product lines. For instance, in 2018, SPI Lasers Limited opened its new manufacturing facility for the production of fiber laser in Southampton, England. The expansion programs as an outcome of growing investments will result in the greater availability of the product.

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Based on region, the fiber laser market has been categorized into Europe, North America, Asia-Pacific, Latin America, and Middle East and Africa. Among all the regions, Asia-Pacific held a significant share in the market, driven by growing large-scale manufacturing sector in countries such as China, India, Japan, and other Asia-Pacific countries during the historical period. The large-scale deployment of new manufacturing facilities in the region is expected to boost the market during the forecast period.

On the basis of type, the fiber laser market has been categorized into infrared, ultraviolet (UV), ultrafast, and visible fibers. During the historical period, UV fiber lasers accounted for a significant share as they are widely used for marking purpose on white plastics and cables. Moreover, UV fiber lasers, owing to their high performance, precise tuning, ease of integration, and reliability, are gaining popularity for cutting and marking of brittle materials. Also, the highly advanced UV fiber lasers are highly suitable for complex work areas including micro machining, micro drilling, thin-film sputtering, surface cleaning, and stripping of glass, plastics, ceramics, and metals.

With rapid urbanization and industrialization, the fiber laser market is growing exponentially in emerging economies. In coming years, emerging countries are expected to witness expansion as well as technological advancement in their processes, which will boost the demand for laser technology in the manufacturing process in these countries. Thus, growing economies are likely to encourage the market during the forecast period.

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The major driver identified in the fiber laser market is the technological advancements with respect to fiber production and strength. With the growing investment in research and development activities, the advanced fiber lasers are being developed that have high beam quality and require minimum level of maintenance. With the enhanced quality of the lasers, they are now being increasingly adopted for wide range of industrial manufacturing processes including metal cutting and welding of automotive parts and aerospace components. The rising efficiency in the production processes through fiber lasers will continue to increase the adoption of laser technology, thereby boosting the market during the forecast period.

Some of the major players competing in the global market include Amonics Ltd., Apollo Instruments Inc., Coherent Inc., IPG Photonics Corporation, Jenoptik AG, CY-Laser America LLC, NKT Photonics A/S, Quantel Group, TRUMPF GmbH + Co. KG, Toptica Photonics AG., O.R. Lasertechnologie GmbH, Sigma Mechatronics Pvt. Ltd., and SPI Lasers Limited.