New York, US, April 06, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Ultrafast Laser Market” Research Report: By Pulse Duration, Applications, Region - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 4.6 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 17% during the assessment timeframe.
Ultrafast Laser Market Overview:
Over the past few years, ultrafast lasers have undergone significant transformations, and this technology is witnessing increasing applications across rapidly growing industries. Several techniques have been devised to produce ultra-short pulses, which have enabled the market to garner continuous attention. Ultrafast lasers are extensively used to analyze practical applications of ultrafast technology and a wide range of chemical, physical, and biological phenomena with ultrafast optical spectroscopy.
In automotive manufacturing, ultrafast lasers are used to form small grooves into the combustion engine cylinder's surface wall. This also enables the lubricant's distribution into the piston wall, which helps reduce engine friction losses. Ultrafast lasers are also used to develop exhaust gas sensors, featuring a ceramic layer and quantifying the exhaust gas properties quicker & more accurately.
These sensors improve combustion control and thus help reduce emissions. The high-quality micromachining processes of brittle materials like glass require ultrafast lasers to scribe & cut them with flexible geometries and high-quality edges. These properties have enabled more innovations in ultrafast lasers scaling the manufacturing of displays needed in portable devices like phones and tablets.
Additionally, employing ultrafast lasers in the medical field enables the development of coronary stents used as a substitute for bypass operations. Exclusive biopolymers or magnesium-based alloys often hinder stent production due to their property to react vigorously to thermal loads. In such a scenario, micromachining of ultrafast lasers helps generate lesser debris and features a small heat-affected zone, thus enhancing the biocompatibility of these materials.
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Ultrafast Laser Market Key players
Players leading the ultrafast laser market include
- Attodyne Inc. (Canada),
- Amplitude Systemes (France),
- Clark-MXR, Inc. (US),
- DPSS Lasers Inc. (US),
- Coherent Inc. (US),
- EKSPLA (Lithuania),
- IMRA America (US),
- Epilog Laser (US),
- IPG Photonics (US),
- Laser Quantum (UK),
- JENOPTIK Laser GmbH (Germany),
- Lumentum Operations LLC (US),
- NKT Photonics (US),
- Newport Corporation (US),
- Resonetics (US),
- Sheaumann Laser Inc. (US),
- Rofin-Sinar Laser GmbH (Germany)
- Spectra-Physics (US)
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 4.6 Billion |
| Growth Rate | CAGR of 17.00% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The market for ultrafast lasers is expected to expand as a result of developments in materials and laser settings |
| Key Market Drivers | Advances in technology and a rise in the use of ultrafast laser applications across a variety of business verticals |
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Industry Trends
Rising numbers of laboratories worldwide engaged in ultrafast laser research for neural circuitry studies drive Ultrafast Laser Market growth. It would be exciting to witness further development in ultrafast lasers and, consequently, the movement of neural research. High dimensional accuracy is made possible by ultrafast lasers, and micromachining is the main factor boosting the demand for ultrafast lasers during the coming years.
Furthermore, the Ultrafast Laser Market expansion is accelerated by the spike in demand for small-sized consumer gadgets. These market drivers led to the expansion of the market. The growing population, improving economy worldwide, and increasing inclination towards sedentary lifestyles, boost the market size, fueling healthcare expenditures.
Increasing development in genetic engineering predominantly drives the market growth of ultrafast lasers. Furthermore, neuroscience opportunities and development in ultrafast lasers are increasing market revenues. On the flip side, high investments required for research and development, lack of awareness, and reluctance to adopt new technology are key factors impeding market growth.
Ultrafast Laser Market Segments
The market is segmented into types, pulse duration, average power, repetition rate, applications, and regions. The type segment is sub-segmented into titanium sapphires, diode-pumped, fiber lasers, mode-locked diodes, and others. The average power segment is sub-segmented into 0.5mW–120mW, 120mW–500mW, and above 500mW.
The repetition rate segment is sub-segmented into 0.5 MHz–40MHz, 40MHz–80MHz, and 80MHz–100MHz. The application segment is sub-segmented into biomedical, medical processing, spectroscopy & imaging, science & research, and others. By regions, the ultrafast laser market is segmented into the Americas, Asia-Pacific, Europe, and the Rest of the World.
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Ultrafast Laser Market Geographical Analysis
North America n market leads the global ultrafast laser market. The well-developed healthcare sector in the US and Canada, coupled with high per capita healthcare expenditures, drives the regional market growth.
Besides, factors such as the large-scale neuroscience and ultrafast laser research activities and the presence of some of the matured market players in the region boost the market size. The US, with a significant market share, accounts for the largest market for ultrafast lasers. The market is expected to increase further at a substantial CAGR throughout the forecast period (2021-2028).
Ultrafast Laser Market Competitive Analysis
The ultrafast laser market appears highly competitive and fragmented, with many key players forming a competitive landscape. These players try to gain a higher competitive advantage through acquisition, strategic partnership, expansion, product/technology launch, and collaboration. They are committed to expanding laser applications through product quality and proximity with its partners and customers.
Heavy investments are made in R&D activities to develop a completely different technology than their competition. Lasers are used in advanced imaging and detection & analysis applications. Manufacturers of high-performance lasers strive to expand their technology portfolio through strategic initiatives.
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For instance, on Dec.30, 2022, Amplitude, a leading ultrafast lasers manufacturer, announced the acquisition of a France-based high-technology company, Fastlite, to bring advanced ultrafast technology to the market. Fastlite specializes in ultrafast pulse shaping, characterization, and optical parametric amplifiers. The acquisition will enable Amplitude to design and manufacture the next-generation ultrafast lasers.
Amplitude has long-established ties with Fastlite and has long been working together. The two companies share the same passion for ultrafast laser technology. Their complementary expertise will further enable them to enhance Amplitude's ultrafast laser portfolio, constituting an invaluable asset towards offering Ytterbium pumped OPA and OPCPA products and solutions.
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