According to overseas market research institutions, the global fiber laser cutting machine market will grow at a CAGR of about 7-8% in the next few years, and will reach 2.35 billion US dollars by 2024. The demand for fiber laser cutting machines in North America and Europe will continue to grow, thereby driving the market's demand for more advanced fiber laser cutting machines. At the same time, the increase in expenditures in the automotive field, the increasingly competitive environment for lasers, the launch of new products, the increase in general industrial expenditures, the advancement of the conversion process between new and old kinetic energy, and the increasing application scenarios and usage of fiber laser cutting machines... these Factors will promote the growth of the Chinese market. In recent years, due to China's technological position in the field of fiber laser cutting machines, its production share in the market has increased year by year, and it has performed prominently in the global fiber laser cutting machine industry.
Judging from the current development situation, fiber lasers will still be the main source of light sources for industrial applications in the next 5-10 years. In the future, with the help of new infrastructure including construction machinery applications, Dongfeng will continue to drive laser cutting equipment represented by fiber laser cutting machines to usher in a new round of growth. Although some insiders predict that the metal welding market is expected to surpass the cutting market in the future, in the next 5 years, in terms of sales revenue, metal cutting applications will grow the fastest. It is estimated that by 2022, 10,000-watt fiber lasers will be used in metal cutting applications. $2.5 billion in revenue will be harvested
