Rockville, Feb. 21, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global ultrafast laser market will enjoy the valuation of US$ 1,872.3 million in 2022 and is projected to grow with the healthy CAGR of 14.1% during the forecast period. The market is poised to grow with the increase of automobile industry and industrialization in various countries.
The East Asia region is projected to grow at a faster rate during the forecast period due to the growing demand for ultrafast lasers in various industries and the presence of manufacturing industries in the region.
Moreover, with the increasing population and a rising number of growing medical applications like dentistry, dermatology also increases. Various kinds of cosmetic treatments such as tattoo removal and hair removal techniques are factors boosting the growth of the market.
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Materials processing influenced by its uses for cutting, soldering, hardening, ablating, pulsed laser deposition, surface treatment, drilling, welding, cladding, micromachining, and lithography will also boost the demand for the market.
Further, increasing manufacturing activities and rapid urbanization provide an immense growth opportunity in the region. The consumer electronics market enables growth in the market for high consumption in precision micromachining application that includes flat panel display manufacturing, thin film micromachining, and others. Each of these technologies uses laser applications for improved yields in the manufacturing phase.
Key Takeaways from Market Study
- The global ultrafast laser market is projected to grow 3.8 X and reach US$ 7,029.32 million by 2032.
- The market witnessed 1.5% CAGR between 2017 and 2021.
- Under type segment, fiber lasers will dominate the market with US$ 813.0 million valuation in 2022.
- Aerospace and Defence segment is expected to reach market valuation of US$ 308.4 million by 2022 end.
- East Asia dominated the market with 30.9% market share in 2021.
Key Companies Profiled
- Amplitude Laser Group
- Coherent Inc.
- EKSPLA
- JDS Uniphase Corporation (VIAVI Solutions)
- Jenoptik AG
- Laser Quantum (Novanta Technologies UK Limited)
- MKS Instruments Inc.
- NKT Photonics A/S
- IPG Photonics
- TRUMPF Laser GmbH + Co. KG
- Lumentum Holdings Inc.
- Toptica Photonics Inc
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Competitive Landscape
The global ultrafast laser market is fragmented with the presence of numerous local and regional players. Market players are focusing on new product rollouts with large R&D and collaboration investments that substantially improve market growth.
Prominent manufacturers of ultrafast lasers use expansion strategies including introducing new technologically enhanced lasers for specific end-use industries, expanding virtual footprint, cooperating with other manufacturers, and signing acquisition agreements.
- In October 2021, Han`s Laser partnered with China International Marine Containers (CIMC) to accelerate smart manufacturing.
- From 2020 onwards, EKSPLA, a developer of laser systems, solid-state lasers, and optoelectronics and is now customizing its product portfolio by the introduction of a new technology called the Extreme Light Infrastructure Attosecond Light Pulse Source (LI-ALPS).
- In May 2021, Coherent Inc. announced the introduction of a new website aimed at strengthening existing customer relationships and forging new ones. This revamped website includes new tabs detailing customer success stories, a new resources center, a direct link to its product catalogue, and improved accessibility for visitors with disabilities
Market Development
The automotive industry has witnessed growth in recent years. Along with it, the consumer electronics, R&D industry, aerospace & defence, power and energy industry are also burgeoning. The ultrafast laser is used in vivid industries and they serve vital application. Technological advancements in the ultrafast laser which make them safer, easy to use, sensitive to smaller wavelengths are in demand.
In order to capture, significant market share, market players have created integrated sales channel to streamline their supply chain. Also, they have created direct partnership with end users in order to avoid margin leakage.
Segmentation of Ultrafast Laser Industry Research
- By Type:
- Titanium–Sapphire Lasers
- Mode-Locked Diode-Pumped Bulk Lasers
- Fiber Lasers
- Mode-Locked Dye Lasers
- Mode-Locked Diode Lasers
- Others
- By Pulse Duration:
- Picosecond
- Femtosecond
- By Application:
- Micromachining
- Flat panel display manufacturing
- Thin films micromachining
- Two-photon polymerization
- Precision micromachining
- Others
- Medical
- Medical device fabrication
- Cardiovascular stent manufacturing
- Laser eye surgery
- Others
- Bio-Imaging
- Multiphoton microscopy
- Multimodal imaging
- Others
- Scientific Research
- Multi-dimensional spectroscopy
- THz spectroscopy
- Coherent control
- High harmonic generation, EUV
- Others
- Micromachining
- By End Us:
- Consumer Electronics
- Healthcare & Life Science
- Automotive
- Aerospace and Defense
- Industrial
- Research & Academics
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia &Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global ultrafast laser market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (titanium-sapphire lasers, mode-locked diode-pumped bulk lasers, fiber lasers, mode-locked dye lasers, mode-locked diode lasers, and others),pulse duration(picosecond, and femtosecond), end use (consumer electronics, healthcare & life science, automotive, aerospace and defence, industrial, and research & academics), application ( micromachining (flat panel display manufacturing, thin films micromachining, two-photon polymerization, precision micromachining, others), medical (medical device fabrication, cardiovascular stent manufacturing, laser eye surgery, and others), bio-imaging (multiphoton microscopy, multimodal imaging, and others), scientific research (multi-dimensional spectroscopy, THz spectroscopy, coherent control, high harmonic generation, and other)) and across key regions namely North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa.
Check out more related studies published by Fact.MR Research:
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Laser Diode Market: The increasing application of laser diodes in the telecom and healthcare industries is driving the global laser diode market. A laser diode is device in which a laser beam is formed at the diode junction.
Handheld Laser Distance Meter Market: Handheld laser distance meters are rapidly replacing their traditional counterparts such as measurement tapes, used in the industry. The burgeoning demand for handheld laser distance meters in the construction industry is mainly attributed to the needs for improving the speed and accuracy of distance measurement tools.
Vertical Cavity Surface Emitting Lasers Market: This increase in demand for vertical cavity surface emitting lasers can be attributed to multiple factors, such as rising adoption of vertical cavity surface emitting lasers in proximity sensing & medical applications, increasing use of vertical cavity surface emitting lasers in data communication and infrared illumination, and others.
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