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                                                                    Exhibit 23.2

                         Independent Auditors' Consent


The consolidated financial statements give effect to the completion of a 2-for-1
stock split described in Note 7 which will take place prior to the effective
date of the offering. The following consent is in the form which will be
provided by Deloitte & Touche GmbH upon completion of the stock split and
assuming that no other material events have occurred that would affect the
consolidated financial statements or require disclosure therein.

"We consent to the use in this Amendment No. 2 to Registration Statement No.
333-51560 of IPG Photonics Corporation of our report dated December 6, 2000,
(__________ __, 2001 as to the last paragraph of Note 7) appearing in the
Prospectus, which is a part of such Registration Statement, and to the reference
to us under the heading "Experts" in such Prospectus.


Duesseldorf, Germany,
         , 2001"

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/s/ Deloitte & Touche GmbH


Duesseldorf, Germany
March 2, 2001

