Ultrafast Lasers Market Outlook – 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 are lasers that generate short pulses of light, typically less than one picosecond. Its unique characteristics has paved way for material processing that employ ultrashort pulse widths and extremely high peak intensities. These lasers offer the benefit of removing material without substantial transfer of energy to the surrounding areas, which can have profound benefits in materials ranging from biological tissue to dielectrics to metals.
Currently, it finds its applications for both fundamental research and practical uses. Some of the major uses of ultrafast lasers are in 3D photonic devices, data storage applications, 3D microfludics & optofluidics, and glass bonding. Several niche applications such as resistor trimming, memory repair, hard-disk texturing, and rapid prototyping are feasible using ultrafast lasers. In addition, ultrafast lasers are versatile, as it can operate in the infrared, visible, and shorter ultraviolet range.
Ultrafast lasers enable high dimensional accuracy, micromachining is the prime reason that drives the growth of the ultrafast lasers market during the forecast period. Further, surge in demand for compact-sized consumer electronics accelerates the growth of the market. Moreover, compatibility with broad range of materials is opportunistic for the market growth. Considering these factors, the ultrafast lasers market trends are estimated to witness substantial growth in the future. However, the market is estimated to recover by the mid of 2022 with technological advancements. Market players are deploying strategies to boost the market growth during the forecast period.
Rise in demand for precision engineering in defense sector is expected to offer lucrative growth opportunities for the market during the forecast period. However, high cost of technology hampers the market growth during the forecast period. Besides, some of the other factors attributing to the market growth are high beam quality, eco-friendly technology, simple to automate, and increased adoption of laser surgeries.
The global ultrafast lasers market growth has been significantly impacted by the COVID-19 outbreak. Various countries across the globe deployed partial or complete lockdown, which resulted in unavailability of workforces. Subsequently, production facilities were temporarily halted. Furthermore, government-imposed travel bans hamper the supply chain significantly. These factors attributed to the slowed growth of ultrafast lasers industry during the pandemic.
By Type
Mode-Locked Lasers segment is projected to be the most lucrative segment
Segment Overview
The ultrafast lasers market is segmented on the basis of type, pulse duration, application, end user, and region. On the basis of type, the market is fragmented into titanium sapphire lasers, fiber lasers, mode locked lasers, and others. The mode-locked lasers are further classified into diode-pumped bulk lasers, dye lasers, and diode lasers. The fiber lasers segment dominated the market, in terms of revenue in 2020, and is expected to follow the same trend during the forecast period. On the basis of pulse duration, the market is segregated into picosecond and femtosecond. The femtosecond segment dominated the market, in terms of revenue in 2020, and is anticipated to witness significant market share during the forecast period.
By Pulse Duration
Femtosecond segment will dominate the market throughout the forecast period
By application, the market is divided into micromachining, bio-imaging, scientific research, medical device fabrication, cardiovascular stent manufacturing, and others. The market share for the bio-imaging segment was highest in 2020, and is expected to grow at a high CAGR from 2021 to 2030. By end user, the market is divided into consumer electronics, medical, automotive, aerospace & defense, industrial, and others. The market share for the medical segment was highest in 2020, and the consumer electronics segment is expected to grow at a high CAGR from 2021 to 2030.
By Application
Micromachining segment will lead the market with a highest growth rate of 17.5%
Top Impacting Factors
Significant factors that impact the growth of the ultrafast lasers market include compatibility with broad range of materials, surge in demand for compact-sized consumer electronics, and ultrafast lasers enables high dimensional accuracy micromachining. However, high cost of technology hampers the market growth. On the contrary, rise in demand for precision engineering in defense sector is expected to offer lucrative opportunities for the ultrafast lasers market during the forecast period.
By End User
Medical segment will maintain the leading position during the forecast period
Competitive Analysis
Competitive analysis and profiles of the major ultrafast lasers market players such as 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. are provided in this report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
By Region
North America region would exhibit the highest CAGR of 17.0% during 2021 - 2030
Key Benefits For Stakeholders
- This study comprises analytical depiction of the ultrafast lasers market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall ultrafast lasers market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current ultrafast lasers market forecast is quantitatively analyzed from 2020 to 2028 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
- The report includes the ultrafast lasers market share of key vendors and market trends.
Ultrafast Lasers Market Key Segments
By Type
- Titanium-Sapphire Lasers
- Fiber Lasers
- Mode-Locked Lasers
- Diode-Pumped Bulk Lasers
- Dye Lasers
- Diode Lasers
- Others
By Pulse Duration
- Picosecond
- Femtosecond
By Application
- Micromachining
- Bio-Imagin
- Scientific Research
- Medical Device Fabrication
- Cardiovascular Stent Manufacturing
- Others
By End User
- Consumer Electronics
- Medical
- Automotive
- Aerospace & Defense
- Industrial
- Others
Key Market Players
- Amplitude Systemes
- Attodyne Inc.
- Coherent Inc.
- Dpss Laser Inc.
- Fianium Ltd.
- IMRA America Inc.
- Jds Uniphase Corporation
- Lumentum Operations LLC
- TRUMPF
- Wuhan Huaray Precision Laser Co. Ltd.
Ultrafast Lasers Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Pulse Duration |
|
 By Application |
|
 By End User |
|
 By Region |
|
 Key Market Players | Coherent, Inc., IMRA America, Inc., Hamamatsu Photonics K.K., NKT Photonics A/S, TRUMPF Group, Amplitude Laser Group, Wuhan Huaray Precision Laser Co., Ltd., Lumentum Holdings Inc., DPSS Lasers Inc., Fluence sp. z o.o. |
Analyst Review
Businesses have changed from laser sliced innovation to ultrafast laser innovation for machining exactness and hence empowering an ideal opportunity to advertise. The improvement in the process accuracy reduces the general time and working expense for the manufacturing line, which is essential for the adoption of material processing applications.
With the government forcing guidelines, including quality to expand the mileage and decrease the CO2 outflows, auto producers are moving in the direction of mechanical developments in lasers to meet the objectives and keep the severe principles forced by the government.
The ultrafast lasers market consists of large number of players, and hence is highly competitive. The market players are focusing on new products rollout with significant R&D investments and partnerships that significantly boost the market growth. In addition, market players are strategically planning acquisitions as their growth strategy.
According to industry experts, growing developments in the ultrafast laser market are projected to open new paths of utilizations outside core applications. In addition, developing function of lasers in the automotive industry in another significant factor for the market growth.
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.
The Ultrafast Lasers Market is estimated to grow at a CAGR of 15.0% from 2021 to 2030.
The Ultrafast Lasers Market is projected to reach $5.18 billion by 2030.
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Compatibility with broad range of materials, and surge in demand for compact-sized consumer electronics etc. boost the Ultrafast Lasers market growth.
The key players profiled in the report include Amplitude Systemes, Attodyne Inc., Coherent Inc., Dpss Laser Inc., Fianium Ltd., and many more.
On the basis of top growing big corporations, we select top 10 players.
The Ultrafast Lasers Market is segmented on the basis of type, pulse duration, application, end user, and region.
The key growth strategies of Ultrafast Lasers market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Micromachining segment would grow at a highest CAGR of 17.5% during the forecast period.
Asia-Pacific region will dominate the market by the end of 2030.
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