Rising adoption of ultrafast laser processing precision technology in medical sector for cancer treatment development will provide impetus to the market.
NEW YORK, NY / ACCESSWIRE / April 26, 2021 / Fact.MR: As per the study by Fact MR the global ultrafast laser market is forecast to expand at 14% CAGR over the duration of 2020-2030. According to the study, ultrafast lasers are finding huge applications in semiconductor manufacturing industries, thereby boosting the market growth. Accelerating use ultrafast laser in material process will amplify the market demand. Titanium sapphire laser with its ability to generate ultra-short pulses are finding use in scientific research, thus augmenting the growth of ultrafast laser market.
COVID-19 outbreak led to suspension of many production facilities in consumer electronics and automotive domain. This negatively influenced the ultrafast laser market demand. Closure of manufacturing facilities across the globe impacted the demand of laser. Laser manufacturers will be focusing on expansion in developing economies post pandemic, propelling the market growth.
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"Great emphasis is placed on the technological advancement of ultrafast lasers among the market players. Rising effectiveness of laser beam in targeted cancer treatment has led to rapid development in ultrafast lasers market. The arrival of bio-imaging devices using lasers are expected to create exceptional growth opportunities in the market", said a lead analyst at Fact.MR.
Key Takeaways
- The global ultrafast laser market is estimated to surpass valuation of US$ 5.4 Bn by the end of forecast period 2020-2030.
- Fiber laser is estimated to occupy 42% market share in terms of revenue followed by titanium-sapphire lasers with just 26% market share during the forecast period 2020 to 2030.
- Lucrative opportunities are expected to be generated in the micromachining application segment with valuation exceeding US$ 1.2 Bn during the considered 10 year duration.
- North America is poised to experience tremendous growth in laser market on the back of advancement in laser configuration and material development.
- East Asia is projected to become the next power house for ultrafast laser market with rising population and increased healthcare expenditure. It is forecast to reach the valuation of US$ 1.6 Bn by the end of forecast period 2020-2030.
Prominent Drivers
- Technological innovation and implementation of ultrafast laser in automotive industries will accelerate the market demand.
- Increasing application of laser technology in flat panel display manufacturing, thin film micromachining will amplify the market growth.
- Escalating use of laser in medical sector like dermatology and dentistry will positively affect the the growth of the ultrafast laser market.
Key Restraints
- Higher time consumption while processing materials with considerable thickness hampers ultrafast laser market demand.
- Generation of non linear optical effect in laser is one of the factor that restricts the market growth
- Complications associated with unwanted pedestal pulse will negatively affect the ultrafast laser market.
Discover more about the ultrafast lasers market with 70 figures and 171 data tables, along with the table of contents.
https://www.factmr.com/report/3464/ultrafast-laser-market
Competitive Landscape
Leading players operating in ultrafast laser market profiled by Fact.MR include NKT Photonics A/S, MKS Instruments Inc., IPG Photonics Corporation, Coherent Inc., Laser Quantum Ltd. (Novanta Inc.), Viavi Solutions, and Jenoptik AG. Strategies employed by market players to gain competitive advantage range from developing R&D partnership to collaborating investments and acquisitions.
For instance, the introduction of IceFyre 355-30 by MKS In Feb 2019. In the same month, Spectra-Physics launched hybrid fiber laser with specific application in micromachining
More Valuable Insights on ultrafast lasers market
Fact.MR, in its new report, offers an unbiased analysis of the global ultrafast laser market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the construction equipment rental market on the basis of Product type (Fiber Lasers, Mode-Locked Diode-Pumped Bulk Lasers, Titanium-Sapphire Lasers, Mode-Locked Diode Lasers, Mode-Locked Dye Lasers), pulse duration (Picoseconds, Femtosecond) across regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, MEA).
Key Questions Covered in the Report
- Which factor will be the most crucial for ultrafast laser market?
- What is likely to be the future outlook of ultrafast laser market?
- What are the key drivers and restraints for the ultrafast laser market?
- Which region has the highest growth rate in ultrafast laser market?
- Which are the leading players operating in the ultrafast laser market?
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