Market Introduction
South America includes Brazil, Argentina, and Rest of South America. The recent technological developments have had a direct impact on the economy of Brazil and Argentina that has advanced to a large extent. A recent study says that due to the changing economic conditions in South America, government enterprises, businesses, and consumers in the region are keen to implement and incorporate the upcoming technologies. The cost savings advantage and higher work efficiencies achieved are cited as the significant attracting points in South America. There are plenty of reasons which support global companies to carry out their business operations in other South American countries as well. The global companies have an opportunity to take advantage of the regions’ market, owing to prudent fiscal policy of the country, solid business practices, and several trade agreements. Escalating demand for fiber lasers in cutting applications and rising demand in various industries and emergence of industrial automation are the major factor driving the growth of the SAM fiber laser market.
In case of COVID-19, SAM is highly affected, especially Brazil. The governments in SAM have taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South America will face lower export revenues, both from the drop-in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Brazil, Argentina, and Chile have witnessed huge decline in their respective trade business. In the wake of COVID-19 spread, the manufacturing companies have either shut down their manufacturing operations or reduced their production volume. For instance, Ford Motor has announced to close its three manufacturing plants in Brazil and stop producing automobiles in the South American countries due to slow sales, which has resulted in years of significant losses to the company. The country's unemployment rate is nearing 15%. Hence, the shrinking demand for automobiles in the region is depressing the growth of fiber laser market in the region.
Market Overview and Dynamics
The SAM fiber laser market is expected to grow from US$ 128.55 million in 2021 to US$ 230.97 million by 2028; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028. Automotive production is constantly rising across the SAM region, which is driving the demand for fiber lasers. Most automotive manufacturers are rapidly turning to fiber lasers to resolve their manufacturing issues. The sector widely uses fiber laser in material processing applications such as cutting, welding, and marking, as well as other machining operations involved in auto parts manufacturing. The automotive industry is obtaining excellent results with the use of fiber lasers in electric and lightweight vehicle designs. Significant weight reduction is achieved by minimizing the size of flanges by fiber laser welding and the safety of batteries is enabled by wobble-beam fiber welding. Automotive giants such as Volkswagen, BMW, and Ford Motor Company are contributing significantly to the SAM fiber laser market growth. Electric vehicles are gaining traction in region, thus boosting the fiber laser market growth in the region. Countries such as Brazil is prominent automotive manufacturers in the SAM region. So, burgeoning automotive production is expected to drive the SAM fiber laser market.
Key Market Segments
In terms of type, the infrared fiber laser segment accounted for the largest share of SAM fiber laser market in 2020. In terms of application, the high power cutting and welding segment held a larger market share of the SAM fiber laser market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on SAM 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.; Fujikura Ltd.; IPG Photonics Corporation; Jenoptik AG; nLIGHT, Inc.; TRUMPF GmbH + Co. KG; and Wuhan Raycus Fiber Laser Technologies Co., Ltd.
Reasons to buy report
SAM Fiber Laser Market Segmentation
SAM Fiber Laser Market - By Type
SAM Fiber Laser Market - By Application
SAM Fiber Laser Market - By Country
SAM Fiber Laser Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 128.55 Million |
| Market Size by 2028 | US$ 230.97 Million |
| CAGR (2021 - 2028) | 8.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Fiber Laser Market is valued at US$ 128.55 Million in 2021, it is projected to reach US$ 230.97 Million by 2028.
As per our report South America Fiber Laser Market, the market size is valued at US$ 128.55 Million in 2021, projecting it to reach US$ 230.97 Million by 2028. This translates to a CAGR of approximately 8.7% during the forecast period.
The South America Fiber Laser Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Fiber Laser Market report:
The South America Fiber Laser Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Fiber Laser Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Fiber Laser Market value chain can benefit from the information contained in a comprehensive market report.
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