ID: MRFR/CnM/4142-HCR | August 2021 | Region: Global | 185 pages
Ultrafast Laser Market is projected to be worth USD 4.48 billion by 2028, registering a CAGR of 17.81% during the forecast period (2021 - 2028)., The market was valued at USD 1.75 billion in 2021.
The Ultrafast laser service has been put to use across industries like manufacturing for many decades now. For powerful and clear-cut processing to be carried out by the manufacturing units, excellent quality of materials like ultrafast lasers is used as they ensure a high level of accuracy. Also, to re-introduce the innovative initiations in the marketplace, the ultrafast lasers make use of a short light pulse with the help of an electromagnetic pulse. The time duration of this is very less or that of a picosecond. The ultrafast laser technology is gaining a high momentum as they are an essential ingredient and used in the form of manufacturing tools in a series of industries like consumer electronics, medical devices, and automotive, as well. These pulse lasers offer a series of advantages to the Ultrafast laser market end-users like enhancing the dimensional accuracy alongside providing tighter tolerances, and also, allows the elimination of the post-processing steps that might cause a delay for delivery during the forecast period that ends in 2028.
COVID 19 Analysis
The novel coronavirus pandemic has accelerating various new trends related to the demand and production of various production and manufacturing units. The main reason behind this is that this disease is fatal and also, has a very high rate of transmission. Also, there are many health complications. Hence, to reduce the challenges for the healthcare industry and infrastructure, the government is aiming to decrease the rate at which the disease is spreading by introducing lockdowns, curfews, and also, limiting the time for the markets and companies to function. Also, there has been an introduction of various norms which is pushing people to decline their demand which disrupts the revenue potential of the ultrafast laser market and also, disrupts the supply chain of the market.
The government and the key market players are thus, collaborating and investing in the research and development areas that will help in the wider adoption of the ultrafast laser market trends. Also, companies are opening their interests for mergers and acquisitions that will strengthen their presence and help the ultrafast laser market grow as per the prediction during the ongoing forecast period that ends in 2028.
Ultrafast Laser Market Dynamics
The ultrafast laser makes use of a reliable technique belonging to a high pulse amplification so that there is no damage to the amplifier. The research and development departments of the manufacturing units help in using the advanced materials and laser configurations. These configurations render a promise to open up a new range of applications that are not just from the core area of industrial micromachining. Industries are largely moving towards using this technology that will help in enhancing machine accuracy. This enables the development of great growth opportunities for the ultrafast laser market.
However, the ultrafast laser market has certain factors that might restrain the growth of the global market as per the predictions during the forecast period that ends in 2027. The oscillators and amplifiers type of lasers have high initial costs attached to them. Also, the improvement regarding the process precision hampers the timely delivery of the services. This may or may not be liked by the target audience and hence, the demand for buffer time always remains a matter of question. The operating cost of the production lane might also tend to increase.
The ultrafast laser market system deals with the femtosecond and picosecond variants that are gaining larger traction amongst the various kinds of manufacturing sectors that deal in providing both medical and medical equipment. Likewise, stents alongside other medical materials like catheters are made with the help of ultrafast lasers. Also. mandates for laser making on the medical devices that are used by the target audience spread across various mushrooming regions show excellent use of technology and good prospects for the market during the ongoing forecast period that ends in 2028. Also, there is a germinating need for high precision across the products that guarantee a good value like smartphones and automobiles that predicts a desired performance by the market by the end of the forecast period in 2028.
Ultrafast Laser Market Segment Overview
Based on the resource distribution and availability of technology to cater to the vibrant needs of a large customer base that is spread across various geographical regions, the market has been segmented. The segmentation of the market has been done based on the following:
Based on the type
The type segment of the ultrafast laser market deals in a variety of products like titanium-sapphire lasers, fiber lasers, diode-pumped lasers, and others like the mode-locked diode lasers as well.
Based on duration
Based on the pulse duration, the ultrafast laser market has been segmented into femtosecond and picosecond.
Based on application
The application segment of the ultrafast laser market software includes bio-medical, science and research, spectroscopy, and materials processing amongst the rest.
Based on region
The regions in which the market is currently rendering its operations are North America, the APAC region, Europe, and the rest of the world (RoW).
Ultrafast Laser Market Regional Analysis
The European ultrafast laser market is likely to experience the fastest growth in the region owing to the market trends and growing demand from the customers based in this region. Electronics manufacturing in the US ultrafast laser market, as a part of the North American region, is one of the major factors that will boost the power of the manufacturing sector and help the region experience significant growth during the ongoing forecast period that ends in 2027. Electronics are being widely accepted as a significant contributor to the development of the manufacturing market in the region, especially in the ongoing forecast period of 2020-2027.
Ultrafast Laser Market Competitive Landscape
The ultrafast laser market players that help in understanding the prevalence of a competitive degree are as follows:
The report helps in discussing the ultrafast laser market type and helps to forecast the CAGR growth of the market and expected market valuation by the end of the forecast period in 2028. The report discusses the scope of the market and the potential of the market segments that are functional in different global regions. The market also focuses on the competitive degree prevailing by discussing the recent developments of the prominent ultrafast laser market players.
|Market Size||USD USD 4.48 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, by Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amplitude Systemes (France), Attodyne Inc. (Canada), Clark-MXR, Inc. (U.S.), Coherent Inc. (U.S.) , DPSS Lasers Inc. (U.S.), EKSPLA (Lithuania), Epilog Laser (U.S.), IMRA America (U.S.), IPG Photonics (U.S.), JENOPTIK Laser GmbH (Germany), Laser Quantum (U.K), Lumentum Operations LLC (U.S.), Newport Corporation (U.S.), NKT Photonics (U.S.), Resonetics (U.S.), Rofin-Sinar Laser GmbH (Germany), Sheaumann Laser Inc. (U.S.), and Spectra-Physics (U.S.)|
|Key Market Opportunities||The growth of the market in North America is attributed to technological advancements and increased adoption of ultrafast laser applications across various industry verticals.|
|Key Market Drivers||Advancements in materials and laser configurations are set to drive the growth of the ultrafast laser market.|
Frequently Asked Questions (FAQ) :
Ultrafast Laser Market is projected to be worth USD 4.48 billion by 2028
The global ultrafast laser market is projected to register a 17.81% CAGR in the forecast period.
Materials processing slated to expand as the fastest-growing segment.
Fiber laser is slated to expand as the fastest-growing segment.
A few major market players operating in the global ultrafast laser market are Resonetics (U.S.), Sheaumann Laser Inc. (U.S.), Rofin-Sinar Laser GmbH (Germany), and Spectra-Physics (U.S.) among others.