IPG Photonics Corporation (IPGP) is expected to see further growth as the company holds over a 60% share of the fiber laser market and eyes a future $300 million market opportunity in UV fiber lasers, says Mark Miller, Senior Research Analyst at Noble Financial Group, Inc.
[IPG has] over a 60% share of the fiber laser market. Due to lower energy costs, higher cutting speeds and other advantages, fiber lasers have been displacing conventional CO2 gas lasers for several years. As a result, IPG has shown the best top-line and bottom-line growth over the last five years of any laser firm, CAGRs of 20% or more,” Miller said.
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Miller also states that while IPG may see a slowdown as fiber lasers penetrate the market, the company has another opportunity in UV fiber lasers that are used for fine processing applications, one that could reach $300 million.
“We do see some new future opportunities for IPG, more in the second half of next year. One of which would be UV lasers, that’s a significant opportunity. UV fiber lasers can be used for PCB micro via drilling, silicon wafer scribing, cell phone glass cutting and other fine processing applications. It represents a $300 million overall market opportunity for IPG,” Miller said.
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