The Global Industrial Fiber Laser market to grow at a CAGR of 21.4% over the period 2013-2018
Fiber lasers contain the active gain medium, which is an optical fiber integrated with rare earth elements such as erbium and ytterbium. Unlike conventional gas lasers, a fiber laser uses part of the fiber as the resonating cavity, where the laser action takes place to generate laser beams , Fiber lasers are preferred over other lasers such as CO2 lasers and excimer lasers, primarily because they are more reliable, efficient, robust, and portable, and easier to operate than other lasers.
Fiber lasers used for industrial applications such as cutting, welding, marking, and engraving in the Manufacturing, Semiconductor, and Automotive industries are referred to as industrial fiber lasers. Moreover, due to their superior performance, compact size, high output power, low cost of ownership, durability, and eco-friendly attributes, industrial fiber lasers are being adopted at a significant rate. They also eliminate the mechanical adjustments and high maintenance costs that are necessary with other lasers.
Increased R&D spending by vendors to gain a competitive advantage over other players in the market is one key trend in this market. Vendors are increasingly investing in their R&D division to provide better functionality and to meet the unsatisfied requirements of consumers. R&D investments have enabled vendors to capture a significant market share and gain a competitive edge over other vendors in the Global Industrial Fiber Laser market.
According to the report, one major driver of the market is the increased adoption of fiber lasers because of their superior attributes. These lasers used for industrial applications are gaining more significance because they exhibit excellent light properties.
Further, the report states that one of the key challenges that the market faces is the uncertainty regarding the lifespan of fiber lasers. Despite their existence in the industry for more than 10 years, the lifespan fiber lasers are not definite.
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