Ultrafast Lasers Market Size, Trends & Growth (2021 - 2026)
The Global Ultrafast Lasers market was worth USD 1.43 billion in 2020, and it is predicted to increase at a CAGR of 16.6% from 2021 to 2026 to reach USD 3.31 billion.
Ultrafast lasers are increasingly used in various industries to process a variety of materials, resulting in a market boom. Furthermore, precision processing with ultrafast lasers helps minimize the production line's total time and operating costs, making it the market's most significant driver.
Ultrafast lasers produce ultra-short light pulses with electromagnetic pulses on the order of a picosecond or less in duration. Mode-locked oscillators can generate these pulses, which have an extensive optical range.
Due to benefits such as improved dimensional accuracy, tighter tolerances, and the elimination of post-processing steps, ultrafast or ultrashort pulse lasers have become crucial manufacturing tools in automotive, medical devices, and consumer electronics.
On the other hand, most of the firms paved their way to ultrafst laser technology from laser cut technology. Although the initial costs of this laser equipment are high, the improvement in process precision reduces the overall time and operating costs for the production line, which is the primary reason for its widespread use in material processing applications.
In the medical field, ultrafast lasers are utilized to make cardiovascular stents and laser eye surgery.
In June 2021, Amplitude Laser Inc. teamed up with CATIE (Centre Aquitain des Technologies de l'Information et des Électroniques) to develop P-Digital solutions for facilitating communication between local technicians and remote experts, as well as maximizing laser operating time.
Opton and EKSPLA cultivated a partnership in January 2021. The partnership will provide Opton Laser International with the rights to sell and distribute all Ekspla products in France, except fiber lasers, increasing markets for both firms.
Lumentum Holdings Inc. declared that it is going to start Smart tuning multi source agreement with various firm suppliers and producers to launch an self-tuning feature and multiplexing (DWDM) pluggable optical transceivers.
Ultrafast Lasers Market Drivers
The electronics manufacturing industry is still very dynamic. It is being driven primarily by rising consumer electronics demand and rapid technological advancements. As a result, consumer electronics providers rely heavily on electronic manufacturers, who provide advantages that include cost savings, reduced time-to-volume, quality, and flexibility to provide their products to the market.
Miniaturization and the desire for tighter dimensional tolerances are the primary drivers of Ultrafast laser adoption in consumer electronics devices. Manufacturers have been attempting to squeeze components into ever-smaller form factors. The electronic manufacturing process necessitates the inspection of more minor component features as well as increased accuracy.
Ultrafast lasers enable virtually thermal micromachining without the generation of heat due to their concise pulse duration. Because of their increasing use in advanced display repair, a new generation of compact, high-speed, multi-wavelength ultrafast lasers has been developed.
Due to the COVID-19 epidemic, which has caused congestion and delays in manufacturing facilities, as well as limits on company activities, the market saw a modest dip at the end of 2019. In addition, in the automotive business, numerous car firms have temporarily slowed down manufacturing and office operations worldwide, resulting in a substantial drop in Ultrafast Laser sales and so hurting the global market.
Ultrafast Lasers Market Segmentation
The global ultrafast lasers market is primarily categorized into diode-pump lasers, mode-locked diode lasers, titanium-sapphire lasers, and fiber lasers.
In 2020, the fiber lasers segment held the largest share, accounting for roughly two-fifths of the global ultrafast lasers market. This is owing to its advantages, which include the potential of an all-fiber format, excellent beam quality, superior power scalability, and high single-pass gain, which have led to widespread adoption in high-field science, precision metrology, laser machining, optical communication, microscopy, spectroscopy, and modern ophthalmology. Furthermore, from 2021 to 2026, the mode-locked lasers segment is expected to exhibit the highest CAGR of 16.7 percent. This is due to the short-duration pulses produced by these lasers, which can be used in various applications such as time-resolved instrument measurement.
By Pulse Duration:
The market is augmented into Picosecond and Femtosecond. Moreover, one Picosecond is one-trillionth of a second, and One Femtosecond is one quadrillionth of a second. These lasers are also gaining popularity in the medical and military equipment manufacturing industries. Ultrafast lasers, for example, are being used to create stents and catheters.
The field of handheld electronics sees an increase in the use of femtosecond lasers. In addition, mobiles, microprocessors, memory chips, and display panels are:
They necessitate advanced and high-precision manufacturing processes and the ability to produce in large quantities at a low cost.
While femtosecond lasers are well-known for marking in glass, allowing the traceability of syringes and other glass devices, as well as other volatile materials used in military equipment, picosecond lasers are the most commonly used for laser marking on the surface of steel metals. In addition, these lasers are also used to process plastics for medical devices (polymer processing).
The bio-imaging (medical) segment accounted for more than one-fourth of the global ultrafast lasers market in 2020 and is anticipated to carry its dominance in the next six years. This is because it has a wide range of applications in biology and medicine. However, the micromachining (consumer electronics) segment is expected to grow at the fastest rate of 17.5 percent between 2021 and 2026. This is due to the use of machine-advanced engineering materials in lasers of various wavelengths.
North America holds the most significant global ultrafast lasers market share owing to the increasing demand for electrical manufacturing in the U.S. In the year 2021, the Ultrafast Lasers market in the United States is expected to be worth US$371.8 million. The country presently holds 28.57 percent of the worldwide market share.
On the other hand, APAC is anticipated to have the highest market CAGR during 2021-2026. China, the world's second-largest economy, is estimated to reach a market size of US$325.5 million in 2026, representing an 11 percent CAGR over the study period. Japan and Canada are two other critical geographic markets, with forecasted growth rates of 6.4 percent and 7.8 percent, respectively, over the analysis period. Furthermore, Within Europe, Germany is expected to grow at a 6.8% CAGR, while the rest of the European market is expected to reach US$363.3 million by the conclusion of the analysis period.
Major emerging economies include the United States, Canada, Japan, China, and Europe, are expected to fuel the global Mode-Locked Diode Lasers segment's 7.2 percent CAGR. By the end of the analysis period, these regional markets, which had a combined market value of US$174.8 million in 2020, will have grown to US$285 million. Moreover, China carry its dominance in the market in the upcoming years.The Asia-Pacific market is anticipated to touch US$43.7 million by 2026, led by countries like Australia, India, and South Korea.
Coherent Inc is the market leader in Ultrafast Laser products.
Impact of COVID-19
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Ultrafast Lasers Market, By Type
6.1.1 Diode-Pump lasers
6.1.2 Mode-Locked Diode lasers
6.1.3 Titanium-Sapphire lasers
6.1.4 Fibre lasers
6.1.5 Market Size Estimations & Forecasts (2021-2026)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Ultrafast Lasers Market, By Pulse Duration
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Ultrafast Lasers Market, By Application
6.3.1 Consumer Electronics
6.3.4 Medical & Scientific
6.3.5 Market Size Estimations & Forecasts (2021-2026)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Ultrafast Lasers Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Pulse Duration
7.2.4 By Application
7.3.1 By Country
126.96.36.199 Rest of Europe
7.3.2 By Type
7.3.3 By Pulse Duration
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Pulse Duration
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
22.214.171.124 Rest of Latin America
7.5.2 By Type
7.5.3 By Pulse Duration
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
126.96.36.199 Middle East
7.6.2 By Type
7.6.3 By Pulse Duration
7.6.4 By Application
8. Key Player Analysis
8.1 Amplitude Laser
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 NKT Photonics A/S
8.3 Spark Lasers
8.5 Jenoptik AG
8.7 Laser Quantum
8.8 Clark-MXR, Inc.
8.9 Wuhan Huaray Precision Laser Co., Ltd.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures