North America Fiber Laser Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Infrared Fiber Laser, Ultraviolet Fiber Laser, Ultrafast Fiber Laser, and Visible Fiber Laser) and Application (High Power Cutting and Welding, Marking, Fine Processing, and Micro Processing)
Market Introduction
Developments in technology across North America have contributed to a highly competitive market for all industries. The region is characterized by the presence of key global manufacturing companies having production plants in the region and the strong economy of the countries. Thus, the region is highly industrialized and offers a wide range of industrial work including fiber laser application for the marking, engraving, cutting, molding, pressing, welding, and micro processing of industrial hardware. The aerospace industry—which comprises commercial airlines, military jets, private jets, transportation jets, and spacecraft—has an extensive applications of fiber laser work, such as drilling and welding together different kinds of metals to create various parts of aircraft body. North America hosts a large number of fiber laser suppliers, who are engaged in providing fiber laser solutions to aerospace manufacturers. For instance, nLIGHT, Inc. is a world Leader in optical and fiber laser solution. Similarly, Coherent, Inc., provides fiber laser solutions for the defense and aerospace sector. In addition, Coherent, Inc. offers fiber laser solutions to a wide range of sectors including semiconductor manufacturers, medical device manufactures, and E-Mobility companies. Thus, North America is characterized with the presence of key market players of fiber laser market. Factors such as continuous technological advancements, high beam quality and lower cost of ownership, and eco-friendly technology are impelling companies from many industries to shift from CO2 laser system to fiber laser cutting system in North America.
In case of COVID-19, North America is among the worst-hit regions by the pandemic. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. This led the governments to impose lockdowns to limit human movement; as a result, manufacturing facilities have been reporting lower than usual production volumes, which has had severe impacts on production, and subsequently, it has negatively impacted the demand for fiber laser solutions in the North American region. The US reported a decline in the production and other activities in electronics and automotive industries along with the reduction in FDIs, which also interrupted other industries’ trade. As the US is a home to the manufacturing of semiconductor equipment, the pandemic has caused a slump in the electronics and semiconductor sector’s growth, thereby limiting the scope of fiber laser application in the manufacturing industries. However, the region is reviving its economy with eased lockdown norms, which is gradually helping manufacturing industries to resume their business. This, in turn, expected to increase the demand of fiber laser solutions in the upcoming years.
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Market Overview and Dynamics
The North America fiber laser market is expected to grow from US$ 569.54 million in 2021 to US$ 1,187.90 million by 2028; it is estimated to grow at a CAGR of 11.1% from 2021 to 2028. The increasing cutting applications (flat sheet cutting, tube cutting, and 3D cutting) of the fiber laser systems in several areas, including aerospace (high-strength components which can withstand the pressures of outer space), military, and in other sectors for manufacturing multiple equipment, is creating a huge growth opportunity for the North America fiber lasers market. Fiber lasers can be used in cutting silicon for solar cells & semi-conductors, cutting parts to shape in manufacturing & industrial settings, cutting stents for the medical industry, and cutting of gems for use in the jewelry industry. Further, fiber lasers are used for cutting of stator plates and battery foils in automotive industry. Moreover, the rapid industrialization across the region has increased the demand for pulsed fiber lasers in cutting application to replace conventional methods such as ink-based printing and chemical etching, which is anticipated to fuel the growth of North America fiber laser market. There is an increase in demand for fiber lasers in cutting applications due to much less power consumption than traditional cutting techniques and waste of much less material. Moreover, the whole laser cutting process is non-contact that will reduce the downtime and increase the profits due to less risk of personal injuries, no wear and tear of moving parts, and no material damage due to contact. Thus, the wide use of fiber lasers for cutting applications in multiple areas is creating huge growth opportunities for the fiber laser providers across North America region.
Key Market Segments
In terms of type, the infrared fiber laser segment accounted for the largest share of North America fiber laser market in 2020. In terms of application, the high power cutting and welding segment held a larger market share of the North America fiber laser market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on North America fiber laser market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Coherent, Inc.; Convergent Photonics; Fujikura Ltd.; IPG Photonics Corporation; Jenoptik AG; Maxphotonics Co,.Ltd; nLIGHT, Inc.; TRUMPF GmbH + Co. KG; and Wuhan Raycus Fiber Laser Technologies Co., Ltd.
Reasons to buy report
- To understand the North America fiber laser market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America fiber laser market
- Efficiently plan M&A and partnership deals in North America fiber laser market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America fiber laser market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Fiber Laser Market Segmentation
North America Fiber Laser Market - By Type
- Infrared Fiber Laser
- Ultraviolet Fiber Laser
- Ultrafast Fiber Laser
- Visible Fiber Laser
North America Fiber Laser Market - By Application
- High Power Cutting and Welding
- Marking
- Fine Processing
- Micro Processing
North America Fiber Laser Market - By Country
- US
- Canada
- Mexico
North America Fiber Laser Market - Company Profiles
- Coherent, Inc.
- Convergent Photonics
- Fujikura Ltd.
- IPG Photonics Corporation
- Jenoptik AG
- Maxphotonics Co,.Ltd
- nLIGHT, Inc.
- TRUMPF GmbH + Co. KG
- Wuhan Raycus Fiber Laser Technologies Co., Ltd.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Fiber Laser Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Fiber Laser Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth in Automotive Production
5.1.2 Increasing 3D Printing Technology
5.2 Market Restraints
5.2.1 Less Cutting Speed when Processing Thicker Materials
5.3 Market Opportunities
5.3.1 Surging Demand for Fiber Lasers in Cutting Applications
5.4 Future Trends
5.4.1 Rise in Demand in Various Industries and Emergence of Industrial Automation
5.5 Impact Analysis of Drivers and Restraints
6. Fiber Laser Market –North America Analysis
6.1 North America Fiber Laser Market Overview
6.2 North America Fiber Laser Market Revenue Forecast and Analysis
7. North America Fiber Laser Market Revenue and Forecast to 2028 – By Type
7.1 Overview
7.2 North America Fiber Laser Market, by Type (2020 And 2028)
7.3 Ultrafast Fiber Laser
7.3.1 Overview
7.3.2 Ultrafast Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
7.4 Ultraviolet Fiber Laser
7.4.1 Overview
7.4.2 Ultraviolet Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
7.5 Infrared Fiber Laser
7.5.1 Overview
7.5.2 Infrared Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
7.6 Visible Fiber Laser
7.6.1 Overview
7.6.2 Visible Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
8. North America Fiber Laser Market Analysis and Forecast to 2028 – By Application
8.1 Overview
8.2 North America Fiber Laser Market, by Application (2020 And 2028)
8.3 High power cutting and welding
8.3.1 Overview
8.3.2 High Power Cutting and Welding: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
8.4 Fine Processing
8.4.1 Overview
8.4.2 Fine Processing: Fiber Laser Market Revenue and Forecast to 2028 (US$ Million)
8.5 Marking
8.5.1 Overview
8.5.2 Marking: Fiber Laser Market Revenue and Forecast to 2028 (US$ Million)
8.6 Micro Processing
8.6.1 Overview
8.6.2 Micro Processing: Fiber Laser Market Revenue and Forecast to 2028 (US$ Million)
9. North America Fiber Laser Market – Country Analysis
9.1 Overview
9.1.1 North America: Fiber Laser Market, by Key Country
9.1.1.1 US: Fiber Laser Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Fiber Laser Market, by Type
9.1.1.1.2 US: Fiber Laser Market, by Application
9.1.1.2 Canada: Fiber Laser Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Fiber Laser Market, by Type
9.1.1.2.2 Canada: Fiber Laser Market, by Application
9.1.1.3 Mexico: Fiber Laser Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Fiber Laser Market, by Type
9.1.1.3.2 Mexico: Fiber Laser Market, by Application
10. North America Fiber Laser Market - COVID-19 Impact Analysis
10.1 North America
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
12. Company Profiles
12.1 IPG Photonics Corporation
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Fujikura Ltd.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Convergent Photonics
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Coherent, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Jenoptik AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Maxphotonics Co,.Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 nLIGHT, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 TRUMPF GmbH + Co. KG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Wuhan Raycus Fiber Laser Technologies Co., Ltd.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Fiber Laser Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Fiber Laser Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Fiber Laser Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Fiber Laser Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Fiber Laser Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Fiber Laser Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: Fiber Laser Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Fiber Laser Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Fiber Laser Market Segmentation
Figure 2. North America Fiber Laser Market Segmentation – By Country
Figure 3. North America Fiber Laser Market Overview
Figure 4. North America Fiber Laser Market, by Type
Figure 5. North America Fiber Laser Market, by Application
Figure 6. North America Fiber Laser Market, by Country
Figure 7. North America PEST Analysis
Figure 8. North America Fiber Laser Market- Ecosystem Analysis
Figure 9. North America Fiber Laser Market Impact Analysis of Drivers and Restraints
Figure 10. North America Fiber Laser Market Revenue Forecast and Analysis (US$ Million)
Figure 11. North America Fiber Laser Market, by Type (2020 and 2028)
Figure 12. North America Ultrafast Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Ultraviolet Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Infrared Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Visible Fiber Laser: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Fiber Laser Market, by Application (2020 and 2028)
Figure 17. North America High Power Cutting and Welding: Fiber laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Fine Processing: Fiber Laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Marking: Fiber Laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America Micro Processing: Fiber Laser Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America: Fiber Laser Market, by Key Country – Revenue (2020) (USD Million)
Figure 22. North America: Fiber Laser Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. US: Fiber Laser Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: Fiber Laser Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: Fiber Laser Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in North America Country Markets
- Coherent, Inc.
- Convergent Photonics
- Fujikura Ltd.
- IPG Photonics Corporation
- Jenoptik AG
- Maxphotonics Co,.Ltd
- nLIGHT, Inc.
- TRUMPF GmbH + Co. KG
- Wuhan Raycus Fiber Laser Technologies Co., Ltd.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America fiber laser market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America fiber laser market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the fiber laser market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution