According to the fiber laser market experts, there are three parameters to determine fiber laser market size and growth rate. First of all, it is fiber laser applications that drive fiber lasers popularity. Secondly, it is the correlation of the adoption that is driven by unique technology and adoption that is driven by price. Thirdly, the economic conditions that can influence the implementation of the newly developed fiber laser technology. Together, the specialists employ information about econometric causal models to predict the development of the fiber laser segments.
Forecasting in the fiber laser segment can still be different because there were some unpredictable events during the last years. For example, trade tariffs imposed on goods imported into the USA from China. The government aimed to increase the selling of US goods to local companies. However, for fiber lasers that was not really an effective measure. Then, the lockdown due to COVID-19 influenced the fiber laser market. The closure of fiber laser manufacturing factories in China and shipping delays and many other aspects had a negative impact on the market.
However, despite all the situations that took place last year, they didn’t influence the fiber laser technology market that much. According to statistics, the fiber laser sensing market has grown to over $2 billion in the last few years. Most of the fiber lasers for sensing are diode lasers that are applied in smartphones.
Talking about the medical fiber laser segment, the sales were slowed down in several countries. However, the fiber laser sales are back to normal rates where the pandemic has eased. Meanwhile, the fiber laser sales for the military are most of all unaffected. But there can be some delays in delivery.
For communications, specialists were expecting a great increase in fiber laser sales because of the pandemic. However, it didn’t happen. In fact, the fiber laser market in this sphere showed delays in many communications projects, which were especially for China.
As for fiber lasers for materials processing, the trade tariffs demonstrated a larger negative effect in comparison with the pandemic. After the lockdown, the economy, as well as the fiber laser market, seem to recover quickly and return to normal.
All in all, we can see that there are various globally widespread fiber laser markets. While 2020 was difficult for the fiber laser system segment because of the lockdown, it could get through it and recover the rates to the normal levels. That is why specialists think that 2021 will be a strong year for fiber laser sales. It would be hard to achieve the same levels of 2017-2018. But looking at the global economic conditions, these rates would still be good news.
Optromix Inc., headquartered in Cambridge, MA, USA, is a manufacturer of laser technologies, optical fiber sensors, and optical monitoring systems. We develop and manufacture a broad variety of Fiber lasers, СО 2 lasers, Ti: Sapphire lasers, Dye lasers, and Excimer Lasers. We offer simple Erbium laser and Ytterbium laser products, as well as sophisticated laser systems with unique characteristics, based on the client’s inquiry.
We manufacture laser modules using our technologies based on the advanced research work and patents of the international R&D team. Laser processes are high-quality, high-precision, easily automated manufacturing solutions that provide repeatability and flexibility.