Global Ultrafast Lasers Market Set to Exceed $12.8 Billion by 2024 -- Femtosecond & Picosecond Variant Gaining Market Share

Thursday, 25. July 2019 12:10

Dublin, July 25, 2019 (GLOBE NEWSWIRE) -- The "Ultrafast Lasers Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The global 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.

Key Highlights

  • 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 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.

Key Market Trends

Femtosecond & 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).

Asia-Pacific to Shape the Future of the 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, which is creating huge opportunity. For instance, in November 2018, STORMBEE made a strategic partnership with NEOLASER SOLUTIONS to grow their presence in the Asia Pacific market of Singapore, Malaysia, Thailand, Indonesia, Vietnam, China, Japan, Korea, Australia, New Zealand.
  • Symposiums like APAC Laser Symposium help to create awareness regarding laser usage, thus attracting investors.

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, Trumph, 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 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.

Key Topics Covered

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Need for Enhanced Dimensional Accuracy is Increasing the Sales of Ultrafast Lasers
4.3.2 Government Mandates Promoting Adoption of Ultrafast Lasers.
4.4 Market Restraints
4.4.1 Manufacturing Complexities Challenge the Market Growth
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Laser Type
5.1.1 Solid State Laser
5.1.2 Fiber Laser
5.2 By End-User
5.2.1 Consumer Electronics
5.2.2 Medical
5.2.3 Automotive
5.2.4 Aerospace & Defense
5.2.5 Research
5.3 By Pulse Duration
5.3.1 Picosecond
5.3.2 Femtosecond
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amplitude Group
6.1.2 Coherent Inc.
6.1.3 Ekspla
6.1.4 MKS Instruments Inc.
6.1.5 JENOPTIK Laser GmbH
6.1.6 TRUMPF Group
6.1.7 Novanta (Laser Quantum Ltd.)
6.1.8 Lumentum Holdings
6.1.9 DPSS Laser Inc.
6.1.10 Aisin Seiki (IMRA America Inc.)
6.1.11 IPG Photonics
6.1.12 NKT Photonics

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/x63fli

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Related Topics: Lasers 

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