A new report from Optech Consulting revealed that the market share of fibre lasers is on the rise. Up almost ten percent from 2014, fibre lasers are currently occupying 37 percent of the global laser market in the realm of materials processing.

The laser market alone saw significant growth in the last year, growing to a $3.2 billion dollar market. The growth of fibre lasers is of particular interest. Just over a decade ago, fibre lasers held only four percent of the industry’s market share.

This may be, in part, due to the push to replace gas lasers with fibre lasers. While fibre lasers do serve as a hardy replacement for high power  CO² lasers, they are not as capable when it comes to low powered CO² lasers. There is significant interest in the application of fibre lasers in the ever-growing realm of additive manufacturing. This could potentially be a driving force for greater market shares, in the next handful of years.

For more information on the financial report, please check out the original story from Laser Systems Europe here.