“Prominent end use industries are looking to streamline manufacturing operations, in an attempt to synchronize supply with demand, prompting the adoption of precision-based ultrafast laser cutting and shaping technologies,” says a Fact.MR analyst.

United States, Rockville MD, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The worldwide ultrafast laser market is expected to be worth US$ 1.4 Bn in 2021. According to Fact.MR, the global market value will total US$ 5.2 Bn by 2031, expanding at an astounding 14% CAGR across the 2021-2031 forecast period. Ultrafast lasers have become critical across automotive, medical devices, and consumer electronics industries, due to imparting of enhanced dimensional precision.

The market experienced impressive growth during the historical period ranging from 2016 to 2020, registering a CAGR worth 10%. As manufacturing activities experienced major downturns during the height of COVID-19, sales of ultrafast lasers temporarily contracted. Fortunately, this was short-lived, with extensive vaccination drive implementation across major countries permitting a resumption of on-site production operations since Q4 2020.

Demand from the consumer electronics domain is expected to remain especially prominent. By 2023, it is likely that spending on consumer electronics will reach over 30% globally. Hence, players are introducing new product lines to tap this opportunity. For instance, in November 2020, TeraXion launched the PowerSpectrumTM TPSR-Xtended tunable pulse stretcher for high-energy ultrafast lasers, which increases stretching by up to 50%.  

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Key Takeaways from the Market Study

• China to account for 30% of the total ultrafast laser market share
• U.S. to generate absolute opportunity worth US$ 1.1 Bn across the forecast period
• Micromachining applications to expand fastest, growing at a 14% CAGR
• Ultrafast fiber laser to capture 42% of global revenue until 2031
• By end use, consumer electronics manufacturing to account for over 60% revenue
• Medical ultrafast lasers to clock a CAGR worth 13% from 2021 to 2031
• Global ultrafast laser industry to expand 3.7x across the assessment period
  
  

Competitive Landscape

Prominent ultrafast laser providers are leveraging such expansion strategies as introducing new technologically enhanced lasers for specific end use industries, expanding their virtual footprint and forging collaborative and acquisition agreements with other manufacturers.

• EKSPLA, a developer of solid-state lasers, laser systems, and optoelectronics for fundamental research and industrial applications, unveiled the FemtoLux green, a lightweight femtosecond fiber laser, in February 2019. This ultrafast laser delivers 1.5 W at 515 nm or 3 W at 1030 nm of average power and up to 3 µJ femtosecond pulse energy
• In May 2021, Coherent Inc. announced the introduction of a new website aimed at strengthening existing customer relationships and forging new ones. This revamped websites includes new tabs detailing customer success stories, a new resources center, a direct link to its product catalogue, and improved accessibility for visitors with disabilities

As the COVID-19 pandemic engulfed the entire world, the global industrial and manufacturing sector experienced massive demand-supply disruptions, especially during the first two quarters of 2020. Global FDI flows were forecast to fall by as high as 40%, being valued at below US$ 1 trillion in 2020, concluded a report published by the UN Conference on Trade & Development. This negatively impacted sales of ultrafast lasers during that timeframe.

As lockdown restrictions were lifted since Q4 2020, attributed to speedy vaccination campaigns, growth prospected exhibited a gradual resurgence. The UN Industrial Development Organization (UNIDO) expects global output to reach 7.7% by 2021-end. This will provide a lucrative opportunity for ultrafast laser providers in the long run, expected to clock an impressive 14% CAGR until 2031.

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Key Segments Covered

• Type
  • Ultrafast Titanium-Sapphire Lasers
  • Ultrafast Mode-Locked Diode-Pumped Bulk Lasers
  • Ultrafast Fiber Lasers
  • Ultrafast Mode-Locked Dye Lasers
  • Ultrafast Mode-Locked Diode Lasers
  • Other Ultrafast Laser Types
• Pulse Duration
  • Picosecond Ultrafast Lasers
  • Femtosecond Ultrafast Lasers
• End Use
  • Ultrafast Lasers for Consumer Electronics
  • Ultrafast Lasers for Healthcare & Life Science
  • Ultrafast Lasers for Automotive
  • Ultrafast Lasers for Aerospace and Defense
  • Ultrafast Lasers for Industrial Uses
  • Ultrafast Lasers for Research & Academics
• Application
  • Ultrafast Lasers for Micromachining
    • Flat Panel Display Manufacturing
    • Thin Film Micromachining
    • Two-photon Polymerization
    • Precision Micromachining
    • Others
  • Ultrafast Lasers for Medical Applications
    • Medical Device Fabrication
    • Cardiovascular Stent Manufacturing
    • Laser Eye Surgery
    • Others
  • Ultrafast Lasers for Bio-Imaging
    • Multiphoton Microscopy
    • Multimodal Imaging
    • Others
  • Ultrafast Lasers for Scientific Research
    • Multi-dimensional Spectroscopy
    • THz Spectroscopy
    • Coherent Control
    • High Harmonic Generation, EUV
    • Others
      
      

Key Points Addressed in Ultrafast Laser Industry Analysis

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Ultrafast Laser Market and How to Navigate
• Recommendation on Key Winning Strategies

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More Insights Available                              

Fact.MR, in its new report, offers an unbiased analysis of the global ultrafast laser market, analyzing historical demand from 2016-2020 and forecast statistics for 2021–2031.

The study reveals growth projections on the ultrafast laser market on the basis of type (titanium-sapphire lasers, mode-locked diode-pumped bulk lasers, fiber lasers, mode-locked dye lasers, mode-locked diode lasers and others), pulse duration (picosecond and femtosecond), end use (consumer electronics, healthcare & life sciences, automotive, aerospace & defense, industrial and research & academics) and application (micromachining, medical, bio-imaging and scientific research) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

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