The market for ultrafast lasers is projected to be worth US$ 1,872.3 million in 2022 and to grow at a CAGR of 14.1% to US$ 7,029.32 million by the end of 2032. The ultrafast laser market is a rapidly growing segment of the laser industry. Ultrafast lasers, also known as femtosecond lasers, are characterized by their extremely short pulse durations, typically on the order of femtoseconds (10^-15 seconds) or picoseconds (10^-12 seconds). These lasers are used in a variety of applications, including micromachining, biomedical research, and material processing
One key factor driving growth in the ultrafast laser market is the increasing demand for these lasers in the biomedical industry. Ultrafast lasers are used in a variety of biomedical applications, including multiphoton microscopy, optical coherence tomography (OCT), and laser-induced breakdown spectroscopy (LIBS). These applications are used in areas such as drug discovery, tissue engineering, and disease diagnosis and treatment.
Another factor driving growth in the ultrafast laser market is the increasing use of these lasers in industrial applications. Ultrafast lasers are used in a variety of industrial applications, including precision cutting, drilling, and welding. These applications are used in industries such as aerospace, automotive, and electronics manufacturing.
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Key Takeaways from Market Study
- The biomedical industry is one of the key drivers of growth in the ultrafast laser market, with applications in drug discovery, tissue engineering, and disease diagnosis and treatment.
- Industrial applications such as precision cutting, drilling, and welding are also driving growth in the ultrafast laser market.
- As technology continues to advance, it is likely that new applications for ultrafast lasers will emerge, further driving growth in this market.
- North America and Europe are currently the largest markets for ultrafast lasers, but the Asia-Pacific region is expected to experience the highest growth rate during the forecast period.
There are many local and regional players, which has led to the fragmentation of the global ultrafast laser market. With significant R&D and collaboration investments, market players are concentrating on the launch of new products, which significantly boosts market growth.
Leading producers of ultrafast lasers employ expansion strategies like launching brand-new, technologically advanced lasers for particular end-use industries, growing their digital footprint, working with other producers, and concluding acquisition contracts.
- Han’s Laser and China International Marine Containers (CIMC) joined forces in October 2021 to advance smart manufacturing.
- EKSPLA, a manufacturer of laser systems, solid-state lasers, and optoelectronics, is currently tailoring its product line by introducing a new technology known as the Extreme Light Infrastructure Attosecond Light Pulse Source. This will begin in 2020. (LI-ALPS).
- Coherent Inc. announced the launch of a new website in May 2021 with the intention of fostering both new and existing customer relationships. This website has been updated with new tabs showcasing client success stories, a new resources center, a direct link to its product catalogue, and enhanced accessibility for users with disabilities.
Key Companies Profiled
- Amplitude Laser Group
- Coherent Inc.
- 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.
In recent years, the automotive industry has grown. Along with it, the consumer electronics, research and development, aerospace and defense, power, and energy sectors are all experiencing rapid growth. The ultrafast laser is used in a variety of vibrant industries for important purposes. It is necessary for ultrafast laser technology to advance so that they are safer, simpler to use, and more sensitive to shorter wavelengths.
Market participants have developed integrated sales channels to streamline their supply chains in an effort to take significant market share. Additionally, they have established a direct partnership with customers to prevent margin leakage.
Overall, the ultrafast laser market is a rapidly growing segment of the laser industry, driven by increasing demand in a wide range of industries. As technology continues to advance, it is likely that new applications for ultrafast lasers will emerge, further driving growth in this market.