Global fiber laser market to grow 16% during 2016-2021

The strong growth is driven by the increasing demand of fiber lasers in various types manufacturing processing. Industrial fiber laser systems are firmly established in material processing operations among manufacturing industries whole across the globe. Manufacturing industries use different types of sheet cutting, marking, engraving, bonding, etching etc. Additionally the high power continuous wave fiber lasers are gaining wider acceptance in the market place. In terms of industrial application fiber lasers are widely used in macro processing applications, while advance material processing and scientific applications will create fair opportunities for the fiber lasers.

Although, macro processing industrial applications have wider acceptance of fiber lasers, advance applications and marking & engraving industrial application (precision engineering) will present fair opportunities for the acceptance of fiber lasers. APAC is predicted to grow with a CAGR of 16.86% during the year 2016-2021F, which is mainly driven by the increase in number of general manufacturing industries along with the rise in the demand of consumer electronics will drive the market.