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Ultrafast Lasers Market - Growth, Trends, and Forecast (2019 - 2024)

The market can be segmented by Laser Type (Solid State Laser, Fiber Laser), End User (Consumer Electronics, Medical, Automotive, Aerospace and Defense, Research), Pulse Duration (Picosecond, Femtosecond), and Geography.

Market Snapshot

Ultrafast lasers summary
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

25.02%

Key Players:

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Market Overview

The ultrafast lasers market was valued at USD 3.37 billion in 2018 and is expected to reach a value of USD 12.82 billion by 2024, at a CAGR of 25.02%, during the forecast period (2019 - 2024).In medical applications, Q-switched lasers are being replaced with ultrafast lasers. Also, some non-laser techniques, such as surgical scalpels and mechanical saws are being substituted owing to their similar practicality traits and easy-to-handle options.

  • Industries have moved from laser cut technology to ultrafast laser technology for the machining accuracy and thus enabling early time to market. The improvement in the process precision reduces the overall time and operating cost for the production line, which is the primary reason for the adoption of material processing applications.
  • With the government imposing regulations, including quality, to increase the mileage and reduce the CO2 emissions, automobile manufacturers are turning toward technological innovations in lasers to meet the targets and stringent rules imposed by the government.  
  • There is a learning curve associated with bringing laser technology in house. For instance, the majority of drawbacks are related to the learning curve involved in bringing femtosecond laser-assisted cataract surgery in the house. More than the initial coursework, the professional needs to set aside dedicated time to learning how to work with the laser in his/her office. This includes everything from where to set up the machine to how the support staff can best assist with the procedures. 

Scope of the Report

The unique characteristics of ultrafast lasers have rapidly revolutionized materials processing after their first demonstration in 1987. The ultrashort pulse width of the laser suppresses heat diffusion to the surroundings of the processed region, which minimizes the formation of a heat-affected zone and thereby enables ultrahigh precision micro and nanofabrication of various materials. The output of an ultrafast laser has various remarkable properties which are of interest for a wide range of industries like consumer electronics, medical, automotive, research, aerospace and defense.

 

By Laser Type
Solid State Laser
Fiber Laser
By End User
Consumer Electronics
Medical
Automotive
Aerospace and Defense
Research
By Pulse Duration
Picosecond
Femtosecond
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Femtosecond and Picosecond Variant Gaining Market Share

  • Available in the femtosecond and picosecond variants, these lasers are gaining traction in the medical equipment and military equipment manufacturing. For instance, stents and catheters are being made with ultrafast lasers.
  • In addition, mandates of laser marking for medical devices across the regions is another reason for the increasing demand for ultrafast lasers.
  • While femtosecond lasers are known for marking in the glass, which allows the traceability of syringes and other glass devices, and other volatile materials used in military equipment, picosecond lasers are most used for laser marking on the steel metals surface. In addition, these lasers are used for processing plastics for medical devices (polymer processing).

 

revenue from lasers

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Asia-Pacific to Shape the Future of Ultrafast Lasers Market

  • Research-funding agencies have begun to invest mostly in new collaborations and facilities in Asia-Pacific that employ ultrafast lasers for broad areas of science.
  • Companies are collaborating in this region and creating a huge opportunity. For instance, in November 2018, STORMBEE made a strategic partnership with Neolaser Solutions to increase their presence in the Asia-Pacific market of Singapore, Malaysia, Thailand, Indonesia, Vietnam, China, Japan, Korea, Australia, and New Zealand. 
  • Symposiums like APAC Laser Symposium help to create awareness regarding laser usage, thus attracting investors.
Lasers map

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Competitive Landscape

Vendors in the market are involved in new product rollouts with significant R&D investments and partnerships that significantly boost the market growth. In addition to technological investments, companies also have acquisitions as their growth strategy. The market consists of laser/photonic giants, such as Coherent, Trumpf, Jenoptik, Lumentum, among others.

  • March 2019 - Coherent Inc. significantly expanded its Gilching, Germany micromachining and sub-system facility in Gilching, and completed the relocation of the company’s laser marking group from nearby Gunding. This “Center of Excellence”, designated as Coherent Munich was an upgrade to the organization’s applications and R&D capabilities.
  • March 2019 - Trumpf's new disk laser TruDisk Pulse 421 generates laser light in the green spectrum at 515 nanometers. It operates in the pulsed mode at a mean power of 400 watts and solves the problems found when using infrared lasers to weld copper. 
  • February 2019 - MKS, introduced Spectra-Physics IceFyre 355-30, a high power, industrial UV picosecond hybrid fiber laser designed for micromachining applications in high throughput manufacturing.

Major Players

  1. Amplitude Group
  2. Coherent Inc.
  3. Ekspla
  4. MKS Instruments Inc.
  5. Jenoptik Laser GmbH

* Complete list of players covered available in the table of contents below

Lasers comp analysis

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Need for Enhanced Dimensional Accuracy is Increasing the Sales of Ultrafast Lasers

      2. 4.3.2 Government Mandates Promoting Adoption of Ultrafast Lasers.

    4. 4.4 Market Restraints

      1. 4.4.1 Manufacturing Complexities Challenge the Market Growth

    5. 4.5 Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Laser Type

      1. 5.1.1 Solid State Laser

      2. 5.1.2 Fiber Laser

    2. 5.2 By End User

      1. 5.2.1 Consumer Electronics

      2. 5.2.2 Medical

      3. 5.2.3 Automotive

      4. 5.2.4 Aerospace and Defense

      5. 5.2.5 Research

    3. 5.3 By Pulse Duration

      1. 5.3.1 Picosecond

      2. 5.3.2 Femtosecond

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Amplitude Group

      2. 6.1.2 Coherent Inc.

      3. 6.1.3 Ekspla

      4. 6.1.4 MKS Instruments, Inc.

      5. 6.1.5 JENOPTIK Laser GmbH

      6. 6.1.6 TRUMPF Group

      7. 6.1.7 Novanta (Laser Quantum Ltd.)

      8. 6.1.8 Lumentum Holdings

      9. 6.1.9 DPSS Laser Inc.

      10. 6.1.10 Aisin Seiki (IMRA America Inc.)

      11. 6.1.11 IPG Photonics

      12. 6.1.12 NKT Photonics

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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