Ultrafast Lasers Market Size, Share, Growth, and Industry Analysis by Type (Titanium-sapphire Lasers, Diode-pumped Lasers, Fiber Lasers, Mode-locked Diode Lasers) By Application (Material Processing, Biomedical, Spectroscopy and Imaging, Science and Research, and Others) Regional Forecast To 2032

Updated On: 08 July 2024

Ultrafast Lasers Market REPORT OVERVIEW

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The global Ultrafast Lasers market size was USD 1446 million in 2021 and market is projected to touch USD 2218.95 million by 2032, exhibiting a CAGR of 11.3% during the forecast period.

Ultrafast lasers are lasers which is typically less than one picosecond. It helps to generate short pulses of light. The equipment has unique characteristics which offers to paved way for material processing. The equipment has other advantages such as removing material without substantial transfer of energy.

The market is expected to grow owing to rise in demand for precision engineering in defense sector and huge need for high dimensional accuracy is anticipated to foster market growth. Increased need for compact-sized consumer electronics and the equipment is extensively used in end-users such as aerospace, medical, research, defense, and consumer is anticipated to generate positive growth for the market. Presence of several market players and rapid development activities is estimated to accelerate market growth. Further, growing use of phosphorene and adoption of phosphorene helps to develop ultrafast laser is estimated to boost market development. Growing awareness and huge usage of the equipment in research and development sector is anticipated to fuel market growth in the coming years. The market is expected to witness a positive growth owing to ecofriendly, high beam quality, and simple to automate. These features are estimated to surge market growth.  On the contrary, high cost of the equipment and fluctuation of raw material prices is anticipated to limit market progress in the coming years.

COVID-19 Impact: Unavailability of Workforce and Global Partial or Complete Lockdown to Hamper Market Growth

The global spread of COVID-19 pandemic positively influenced medical sector and huge adoption of the product in data storage, 3D photonic devices, and 3D microfluidics & optofludics which automatically fueled market progress. However, unavailability of workforce and global partial or complete lockdown hamper market growth. Also, government initiatives and travel bans to restrict market growth during certain period of time.

LATEST TRENDS

"Growing Use for Compact-Sized Consumer Electronics to Accelerate Market Progress"

The increased demand for compact-sized consumer electronics and huge development in electronic sector. The product is ideal for replacing non-laser technique is estimated to drive market progress. The equipment offers a precise light concentration over short period, and ensures zero heat damage occurs to the surrounding material, which is estimated to drive market progress in the forthcoming years. Further, the product offers a sophisticated tool to the developed world as the need for improved technology is increasing.

Ultrafast Lasers Market SEGMENTATION

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• By Type

Based on type, the market is divided into titanium-sapphire lasers, diode-pumped lasers, fiber lasers, mode-locked diode lasers.

Titanium-sapphire lasers are expected to be the top part of type segmentation.

• By Application

Based on the application, the market is divided into material processing, biomedical, spectroscopy and imaging, science and research, and others.

Material processing is expected to be the top part of application segmentation.

DRIVING FACTORS

"Rapid Adoption in Medical and Biomedical Sector to Foster Market Growth "

The increased adoption of the product in medical and biomedical sector for investing bone and cartilage repair, dermatology, tissue engineering, intra-operative diagnostics, and others. The system commonly used in laser machining. Growing awareness and huge usage of the equipment in research and development sector is anticipated to fuel market growth in the coming years. The market is expected to witness a positive growth owing to ecofriendly, high beam quality, and simple to automate. These features are estimated to surge market growth. These factors are estimated to drive market growth in the forthcoming years.

"Rise in Demand for Precision Engineering in Defense Sector to Fuel Market Progress"

The market is expected to grow owing to rise in demand for precision engineering in defense sector and huge need for high dimensional accuracy is anticipated to foster market growth. Increased need for compact-sized consumer electronics and the equipment is extensively used in end-users such as aerospace, medical, research, defense, and consumer is anticipated to generate positive growth for the market. Presence of several market players and rapid development activities is estimated to accelerate market growth. Further, growing use of phosphorene and adoption of phosphorene helps to develop ultrafast laser is estimated to boost market development.  

RESTRAINING FACTORS

"High Cost of Equipment and Fluctuation of Raw Materials Prices to Hamper Market Growth  "

The high cost of the equipment and fluctuation of raw material prices is anticipated to limit market progress in the coming years.

Ultrafast Lasers Market REGIONAL INSIGHTS

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"Rapid Technology Development in North America to Drive Market Share   "

North America is estimated to hold largest ultrafast lasers market share owing to growing demand for advanced technology. Presence of market players and growing industrialization is estimated to drive market growth. Increased need for compact-sized consumer electronics and the equipment is extensively used in end-users such as aerospace, medical, research, defense, and consumer is anticipated to generate positive growth for the market. Presence of several market players and rapid development activities is estimated to accelerate market growth. Further, growing use of phosphorene and adoption of phosphorene helps to develop ultrafast laser is estimated to boost market development. Growing awareness and huge usage of the equipment in research and development sector is anticipated to fuel market growth in the coming years. The market is expected to witness a positive growth owing to ecofriendly, high beam quality, and simple to automate. These features are estimated to surge market growth. 

Asia Pacific is anticipated to hold significant market share lower employee cost and huge need for advanced technology. Growing urbanization and huge demand from end-user sectors such as aerospace, medical, research, defense, and consumer is anticipated to generate positive growth for the market.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Coherent (U.S.)
• Trumpf (Germany)
• IPG Photonics (Russia)
• Lumentum (U.S.)
• Newport (U.S.)
• Laser Quantum (U.K.)
• IMRA America (U.S.)
• NKT Photonics (Denmark)
• Clark-MXR (U.S.)
• Amplitude Laser Group (France)
• EKSPLA (Japan)
• Huaray Precision Laser (China)
• Yangtze Soton Laser (YSL) (China)
• Bellin Laser (China)
• NPI Lasers (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.