Ultrafast Laser Market,

Increased need to improve dimensional accuracy to propel market growth

The need for a small, dependable electronic device was created by technological advancements in consumer electronics, computers, networking and telecom, transportation, healthcare, and consumer electronics. Such portable electronic devices demand great dimensional accuracy for components like displays. It is projected that there would be a rise in demand for the fabrication materials required to make high-performance semiconductor components. In high-speed, fully integrated applications like aerospace and some consumer electronics, the demand for compact equipment has expanded dramatically.

These factors for creating the final products forced the OEMs to make small parts with intricate characteristics, making micromachining a key element in creating miniaturized electronic systems.

The demand for tiny, portable electronic devices has increased across nearly every industrial sector, including communication equipment, cars, industrial manufacturing, and healthcare equipment. These advancements in the electronic device manufacturing sector have increased the need for enhanced dimensional accuracy and increased OEM pressure to assure that the products are free of errors and flaws. Consequently, it is anticipated that the use of laser machining technology will increase.

Additionally, it is projected that the necessity for a competitive edge in terms of device performance, particularly in specialised markets with high potential for profit like consumer electronics, will fuel the demand for ultrafast lasers. Thus, this factor is driving the market CAGR.

Additionally, until recently, ultrafast lasers were labor-intensive, sensitive technologies that weren't designed to handle the demands of an industrial environment. Recent advances in laser technology have resulted in a significant change in the situation. Ultrafast lasers with pulse durations in the femtosecond and picosecond range are essential in many industrial operations. Due to advancements in laser technology, process development, beam control, and delivery, these lasers are helpful for treating high-quality, essentially hot materials, making a variety of cutting-edge scientific and commercial applications now feasible.

Recent developments now make it possible to provide high power with exceptional beam characteristics in a space-effective arrangement and, most impressively, at production costs hardly higher than conventional fibres using tapered double-clad fibre (T-DCF) amplifiers. Due to the increased research and development in the laser field and the proportionally rising number of applications for the technology, the emphasis on investments and innovations is evolving. The ongoing research and advancements in the field of ultrafast lasers are predicted to lead to more usage throughout time by a variety of industries and on a variety of materials.

Thus, it is anticipated that this aspect will accelerate ultrafast laser market revenue globally.

The Global Ultrafast Laser Market Industry experiences robust growth driven by continuous technological advancements. Innovations in laser technology, such as the development of fiber lasers and solid-state lasers, enhance performance and efficiency. These advancements enable applications across various sectors, including medical, industrial, and telecommunications. For instance, ultrafast lasers are increasingly utilized in precision manufacturing processes, which require high accuracy and speed. As a result, the market is projected to reach 2.08 USD Billion in 2024, reflecting the industry's response to evolving technological demands and the need for improved laser solutions.

By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America ultrafast laser market accounted for USD 0.6 billion in 2021 and is expected to exhibit a 43.90% CAGR during the study period. One of the key elements that will strengthen the power of the manufacturing sector and aid the region in experiencing considerable growth is the manufacture of electronics in the US ultrafast laser market, which is a part of the North American region.

It is commonly acknowledged that the development of the region's manufacturing industry has been significantly influenced by electronics.

Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Ultrafast Laser Market SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific ultrafast laser market accounts for the fastest growing market share. The rise in demand for femtosecond fibre lasers in the electronics and automotive industries is responsible for the surge. Numerous electronics OEMs, mainly in China and Japan, and technological advancements further contribute to the market's expansion. Further, the Chin ultrafast laser market held the largest market share, and the India ultrafast laser market was the fastest-growing market in the region.

Europe ultrafast laser market is expected to grow at a substantial CAGR from 2022 to 2030 due to a substantial R&D investment strategy and expanding laser technology use across industry verticals. There are various funded projects that were initiated by European Union that aimed at developing high-power, low-noise, ultrafast tunable laser sources using supercontinuum generation. Moreover, UK ultrafast laser market held the largest market share, and the Germany ultrafast laser market was the fastest-growing market in this region

Major market players are spending a lot on R&D to increase their product lines, which will help the ultrafast laser industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.

One of the primary business strategies manufacturers adopt in the global ultrafast laser industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. In recent years, ultrafast laser industry has provided medicine with some of the most significant benefits.

The ultrafast laser market major player such as Amplitude Systemes (France), Attodyne Inc. (Canada), Clark-MXR Inc. (U.S.), Coherent Inc. (U.S.), DPSS Lasers Inc. (U.S.), EKSPLA (Lithuania), Epilog Laser (U.S.), IMRA America (U.S.), IPG Photonics (U.S.), JENOPTIK Laser GmbH (Germany), Laser Quantum (U.K), Lumentum Operations LLC (U.S.), Newport Corporation (U.S.), NKT Photonics (U.S.), Resonetics (U.S.), Rofin-Sinar Laser GmbH (Germany), Sheaumann Laser Inc. (U.S.) and Spectra-Physics (U.S.).

The American firm Coherent, Inc., with its headquarters in Santa Clara, California, develops, produces, and provides support for laser equipment and related speciality components. In March 2022, the launch of the COMPex family of products was announced by Coherent Inc. The strongest VUV laser is the Coherent COMPex F2. The dual-wavelength laser is able to provide the strong source of vacuum ultraviolet wavelengths required by some applications. By simply adjusting the gas fill, the F2 specifically offers a direct output at 157 nm and 193 nm, boosting its usefulness and worth.

An integrated photonics company called Jenoptik AG is situated in Jena, Germany. The company's clients include businesses in the electronics, semiconductor equipment, life science and medical technology, traffic and security industries, and so forth. In February 2022, Jenoptik disclosed a joint venture with Accretech. Beginning on February 1, 2022, the businesses merged their economic and technological resources to add value for the entire Japanese industry. As a result, Jenoptik added another reliable distribution partner.