Ultrafast Lasers Market Expected to Reach $5.18 Billion By 2030

According to a new report published by Allied Market Research, titled, “Ultrafast Lasers Market By Type, Pulse Duration, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global ultrafast lasers market size was valued at $1.47 billion in 2020, and is projected to reach $5.18 billion by 2030, registering a CAGR of 15.0% from 2021 to 2030.

Ultrafast lasers generate very short light pulses in the order of picoseconds or femtoseconds. These ultrashort pulses enable the direct analysis and control of electrons and atoms; thereby, expanding the frontiers of science and technology to the fields that were inaccessible earlier. Hence, the development of ultrafast lasers has gained continuous attention and application.

The unique advantages of ultrafast laser processing have resulted in its emergence in commercial and industrial applications, such as glass dicing for the production of cell phones and tablet computers, scribing and patterning of photovoltaic solar cells, the production of car components in both serial production and racing sports manufacturers, and the fabrication of medical stents.

Some of the major drivers of the ultrafast lasers industry are compatibility with broad range of materials, surge in demand for compact-sized consumer electronics, and ultrafast lasers enable high dimensional accuracy micromachining. These factors are estimated to fuel the market growth rapidly during the forecast period. However, high cost of technology acts as a major barrier for the ultrafast lasers market growth. Contradictory, rise in demand for precision engineering in defense sector creates lucrative opportunities for the market growth during the forecast period.

Economic impact of the coronavirus pandemic has been largely disruptive. COVID-19 not only impacted the operations of various ultrafast laser manufacturers, but also affected businesses of their suppliers and distributers. Decline in export shipments and slow domestic demand for ultrafast lasers in comparison to pre COVID-19 levels is also expected to negatively impact and slightly stagnate demand for ultrafast lasers in the short term.

Region wise, North America holds a significant share in the global ultrafast lasers market. U.S. dominates the market share in this region, owing to significant demand for consumer electronics in the region. Besides, life science, automotive electronics, and research applications have also contributed to the growth of ultrafast lasers in the region.

Key Findings of the Study

• In 2020, the fiber lasers segment accounted for maximum revenue and is projected to grow at a notable CAGR of 14.1% during the forecast period.
• The femtosecond segment accounted for more than 75.0% of the ultrafast lasers market share in 2020.
• The medical segment of the ultrafast lasers market is projected to grow at a CAGR of 13.6% during the forecast period.
• North America contributed major share in the ultrafast lasers market, accounting for more than 20.0% share in 2020.

The key players profiled in the report include Amplitude Systemes, Attodyne Inc., Coherent Inc., Dpss Laser Inc., Fianium Ltd., IMRA America Inc., Jds Uniphase Corporation, Lumentum Operations LLC, TRUMPF, and Wuhan Huaray Precision Laser Co., Ltd. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the market.