Ultrafast Laser Market to Expand at 14.1% CAGR, Reaching US$ 7,029.32 million by 2032

The global ultrafast laser market is expected to grow at a robust 14.1% CAGR during the forecast period, with a valuation of US$ 1,872.3 million in 2022. With the expansion of the automotive sector and global industrialization, the market is expected to rise. Because of the region's industrial industries and the increasing demand for ultrafast lasers across a range of industries, East Asia is expected to increase at a quicker rate during the projection period. Furthermore, dermatology grows along with the population and the quantity of expanding medical applications such as dentistry. A number of cosmetic procedures, including tattoo and hair removal methods, are driving the market's expansion.

The market demand will also be increased by materials processing, which is impacted by its applications in surface treatment, drilling, welding, cladding, micromachining, lithography, cutting, soldering, hardening, ablating, and pulsed laser deposition.

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Furthermore, there is a huge chance for growth in the area due to the region's rapidly rising industries and urbanisation. The market for high-consumption precision micromachining applications, such as thin film micromachining and the production of flat panel displays, is growing thanks to the consumer electronics industry. In the manufacturing stage, each of these technologies makes use of laser applications to increase yields.

Key Takeaways from Market Study

The global ultrafast laser market is poised for significant growth, projected to expand by 3.8 times to reach a market size of US$ 7,029.32 million by 2032. Between 2017 and 2021, the market experienced a modest compound annual growth rate (CAGR) of 1.5%, indicating steady but gradual advancement. Within the market's type segment, fiber lasers are set to maintain dominance, achieving a valuation of US$ 813.0 million in 2022. Meanwhile, the Aerospace and Defence segment is anticipated to grow substantially, reaching a market valuation of US$ 308.4 million by the end of 2022. Geographically, East Asia led the market in 2021, capturing a significant 30.9% market share, driven by technological advancements and robust industrial activities in countries like China, Japan, and South Korea.

This growth trajectory reflects increasing demand across various industrial sectors for ultrafast laser technologies, driven by applications ranging from manufacturing precision tools to medical devices and scientific research. As innovations continue to enhance laser efficiency and reliability, coupled with expanding applications in emerging economies, the ultrafast laser market is positioned for continued expansion in the coming years.

Key Companies Profiled

Amplitude Laser Group
Coherent Inc.
EKSPLA
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

Competitive Landscape

There are many local and regional companies in the highly fragmented global ultrafast laser industry. Market participants are concentrating on launching new products with significant investments in R&D and teamwork that significantly boost market growth.

Leading producers of ultrafast lasers use a variety of techniques to grow their business, such as partnering with other producers, launching new, technologically advanced lasers tailored to particular end markets, and entering into purchase agreements.

In October 2021, Han`s Laser partnered with China International Marine Containers (CIMC) to accelerate smart manufacturing.

From 2020 onwards, EKSPLA, a developer of laser systems, solid-state lasers, and optoelectronics and is now customizing its product portfolio by the introduction of a new technology called the Extreme Light Infrastructure Attosecond Light Pulse Source (LI-ALPS).

In May 2021, Coherent Inc. announced the introduction of a new website aimed at strengthening existing customer relationships and forging new ones. This revamped website 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

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Market Development

There has been expansion in the automobile sector in recent years. Alongside it, there is a boom in the consumer electronics, R&D, aerospace and defence, electricity, and energy industries. Ultrafast lasers are employed in many dynamic sectors for essential purposes. There is a need for technological developments in ultrafast lasers that increase their safety, ease of use, and sensitivity to shorter wavelengths.

Market participants have established integrated sales channels to optimise their supply chains and gain a substantial market share. Additionally, they have established direct relationships with end users to prevent margin leakage.

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This release was published on openPR.