According to the new research report titled “Ultrafast Lasers Market Forecast to 2028 - COVID-19 Impact and Global Analysis,” the market is expected to reach US$ 3,048.68 million by 2028, registering a CAGR of 11.0% from 2021 to 2028. The COVID-19 outbreak has affected the overall growth rate of global ultrafast lasers market in the year 2020 in a negative manner to some extent, due to decline in revenue and growth of companies operating in the market owing to supply and demand disruptions across the value chain. Thus, there was a decline in y-o-y growth rate during the year 2020. However, the positive future growth outlook due to expected rise in demand from industrial sectors in developing regions such as APAC, MEA, and SAM, the market growth is expected to normalize from second half of 2021 and continue to grow at steady rate over the forecast period of 2021 to 2028.
With government support, a number of start-ups are entering the market, and many more start-ups are expected to enter the market in the near future. For instance, in recent years, EU support has led to a steady stream of start-up laser companies in the area of high-intensity laser technology. The start-up fund in the region is driven by several supportive factors including research funding and equipment purchase funding. For instance, joint university-industry research centers such as the Fraunhofer Institutes provided substantial government support for industry-directed projects.
Due to these initiatives, there has been a proliferation of companies, such as OneFive (acquired by NKT Photonics), Class Photonics GmbH, Amplitude Systemes, Menlo Systems, and TRUMPF Scientific Lasers, in the area of laser technology. In US, with the growing need for high-intensity lasers, the US government is expected to support small manufacturers of high-power lasers, ultrafast CPA lasers, and components. This will create conducive environment for various start-ups to enter the market. In the US, already houses significant number of start-ups that are active in the field of high-intensity laser technology. For instance, the small specialty research laser company-KMLabs 39-is focused on the development of terawatt-scale, kHz Ti:sapphire lasers. Similarly, NewportoSpectra Physics is focused on engineering improvements to existing Ti:sapphire products.
Although the ultrafast laser offers several benefits such as enhanced dimensional accuracy and tighter tolerances, reduced collateral damage, and elimination of post-processing steps, however, due to the high cost of procurement, its adoption in small and medium-sized manufacturing enterprises is low. Nevertheless, the ultrafast laser manufacturers are working hard to lower the overall cost of procuring ultrafast laser machines. Also, the cost per watt of output power has reduced substantially with the emergence of new entrants in the market, and there has been significant market consolidation through acquisitions. Therefore, these collective efforts by the market players are expected to remarkably reduce the overall impact of the restraint on the market during the forecast period. This will lead to the higher adoption of ultrafast laser system in various applications, such as marking, wielding, cutting, and surgeries.
Laser pumping has significant importance owing to the development of high-power diode lasers that are available in several wavelength. Diode pumped laser can be categorized into four categories-single stripe, diode array, diode bar, and diode stack. Single stripe diode laser produces less than 100mW of power. However, diode array has the capability to achieve higher output power. In addition, with the small size and its long life, this type of ultrafast laser has highest level of wall-plug efficiency with any known laser source. Some of the companies offering diode-pumped laser are Coherent Inc. and IPG Photonics. The diode-pumped lasers are widely used in medical and industrial application areas. These high-performance lasers have output power of as high as 20 W, and therefore offer several performance benefits specifically for precision application including disk texturing, marking, and resister trimming.
The ultrafast lasers market is segmented on the bases of type, pulse duration, application, and geography. Based on type, the market is segmented into diode-pumped lasers, mode-locked diode lasers, titanium-sapphire lasers, and fiber lasers. In 2020 the fiber lasers segment accounted for the largest market share. In terms of pulse duration, the market is bifurcated into picosecond and femtosecond. In 2020, the femtosecond segment accounted for a larger share in the market. Based on application, the market is segmented into consumer electronics, industrial, automotive, and medical & scientific. In 2020, the industrial segment accounted for the largest market share. Geographically, the global ultrafast lasers market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, APAC accounted for the significant share in the market.
Key Findings of the Study:
The global ultrafast lasers market is segmented into five major regions-North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America (SAM). Significant strategic initiatives are being taken by several market players. For instance, in April 2021, Coherent added EasyMark XL to successful laser marking systems product line.
Reasons to Buy- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global ultrafast lasers market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global Ultrafast Lasers market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
Companies Mentioned
- Amplitude Systemes
- Coherent Inc.
- Dpss Laser Inc.
- Femtolasers Productions GmbH
- Fianium Ltd.
- Huaray Laser
- Jenoptik AG
- Kmlabs
- Laser Quantum Ltd.
- Viavi Solutions
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 156 |
| Published | June 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 1467.5 Million |
| Forecasted Market Value ( USD | $ 3048.68 Million |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
