What Is the Size of Global Ultrafast Laser Industry?
Global Ultrafast Laser market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Ultrafast Laser Market is largely driven by the increasing adoption of ultrafast lasers for dimensional accuracy. The degree to which a printed object matches the dimensions and specifications of the original file is known as dimensional accuracy. The demand for dimensional accuracy devices due in consumer electronics, networking and telecom, transportation, and healthcare industries is significantly increasing. The dimensional accuracy devices can help with better 3d printing of 3d medical devices, 3d metal, and more.
Complications during the manufacturing of ultrafast lasers is one of the major challenges hindering the growth of the global ultrafast lasers market. While the ultrafast lasers market is growing due to the demand for improved dimensional accuracy ultrafast lasers, other factors such as manufacturing complications, are likely to restrain the market growth. Several complications such as nonlinear effects during beam propagation and interaction process are making the overall ultrafast lasers more expensive, and slow the working.
Global Ultrafast Laser Market By Type
The Global Ultrafast Laser market is segmented by Type into Mode-Locked Lasers, Titanium- Sapphire Lasers, Fiber Lasers and Others. The Fiber Lasers segment by Type held the largest market share in 2022 of the Global Ultrafast Lasers Market. The growth is primarily due to the high output power, high beam quality, highly efficient gain medium, and high reliability as compared to other lasers.
Fiber lasers are used to achieve light amplification in optical fibers, which contain rare earth metal ions such as ytterbium, neodymium, thulium, and more. These ions are able to absorb most light and emit photons at specific frequencies, which provide fiber lasers with better gain distance thus offering better quality and output.
Global Ultrafast Laser Market By Application
The Global Ultrafast Laser Market is segmented by Application into Micromachining, Bioimaging, Medical Device and Others. The Bioimaging segment accounted for the largest market share in 2022, and is expected to dominate its position during the forecast period.
The growth is primarily due to bioimaging’s specific ability to view any specimen in a 3-D structure without any kind of physical disturbance. Bioimaging is the technique that allows non-invasive real-time visualization of biological processes i.e., zero involvement of any kind of instruments in the body.
Global Ultrafast Laser Market By Pulse Duration
The Global Ultrafast Laser market is segmented by Pulse Duration into Picosecond and Femtosecond.
The Femtosecond segment accounted for the largest market share in the Pulse Duration segment in 2022. The growth is primarily due to the adoption of ultrafast lasers in the field of portable electronics, mobile phones, microprocessors, memory chips, and display panels. In September 2019, Amplitude Laser has developed a Femtosecond GHz burst laser system that is capable of producing UV light which will improve the micro-machining outputs.
Global Ultrafast Laser Market By End-User
The Global Ultrafast Laser market is segmented by End-User into Consumer Electronics, Medical, Automotive, Aerospace & Defense, Industrial and Others. The consumer electronics segment accounted for the largest market share in the end-user segment in 2022. The growth is primarily due to the rising consumer electronics demand and new technological advancements such as small size and fast processing speed. As the size of electronics products is, now becoming more downsized, tighter dimensional tolerances are required in order to fit the components into ever-smaller form factors and support the growth of the ultrafast laser sector.
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Global Ultrafast Laser Market By Geography
The Global Ultrafast Laser market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. Asia Pacific accounted for the largest market share among all regions within the total Global Ultrafast Lasers Market in 2022.
The growth is primarily due to the adoption of ultrafast lasers in automotive and consumer electronics end-user industries. As the requirement for ultrafast lasers is growing in the electronics and automotive industries. This Asia pacific is anticipated to have significant growth over the course of the forecast period because of technological advancements and the presence of major electronics OEMs in the region, notably in countries like China and Japan.
Competition Scenario In Global Ultrafast Laser Market
The Global Ultrafast Lasers Market is highly competitive with ~200 players, which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Ultrafast Lasers technology. Large global players constitute ~10% of competitors, while country-niche players represent ~60% of competitors. Most of the regional and country-niche players are either components suppliers or assembling partners of global players. Some of the major players in the market include Amplitude Laser, Coherent Inc., DPSS Lasers Inc., TRUMPF, Ekspla, MKS Instruments Inc., Jenoptik Laser GmbH, IMRA America, Lumentum Holdings, IPG Photonics and among others.
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What is the Expected Future Outlook for the Overall Global Ultrafast Laser Market Across the globe?
The Global Ultrafast Laser market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Ultrafast Laser market is driven by the increasing adoption of ultrafast lasers for dimensional accuracy. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaborations and emergence of new products, the Global Ultrafast Laser market is changing rapidly. For instance, In February 2022, Trumpf acquired Active Fiber Systems which is the fiber laser-based company situated in Jena, Germany. This acquisition will help Trumpf to expand in living fiber laser technology, which is focused on industrial applications such as precision welding and additive manufacturing.
In April 2022, Amplitude Laser acquired MW Technologies, which is an optical fiber lasers developer based in Portugal. This acquisition will help amplitude lasers to improve their production ability worldwide. MW Technologies’ name has been changed to Amplitude Portugal thus making its 4th manufacturing Unit and R&D center across the world.
The Global Ultrafast Lasers Market is forecasted to grow exponentially with a CAGR of ~12% during the forecast period primarily driven by the adoption of Ultrafast Lasers for dimensional accuracy in the consumer electronics sector. Though the market is highly competitive with ~ 200 participants, few global players control the dominant share and country-niche players hold a significant share. Asia Pacific is the dominating region, owing to the adoption of ultrafast lasers in the automotive and electronics industries.
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