Key players are focusing on introducing new products to extend their consumer base and attain a competitive edge over others.
ROCKVILLE, MD / ACCESSWIRE / November 16, 2020 / The ultrafast laser market is projected to record an impressive CAGR of 14 % over the forecast period, 2020-2030. High-dimensional precision accomplished with ultrafast lasers boosts their implementation in the production sector, thus fuelling growth of the market.
'Surging demand in the automotive and medical sector is expected to offer new prospects, post COVID-19 crisis for the expansion of the ultrafast laser market.,' says the Fact.MR report.
Ultrafast Laser Market- Key Takeaways
- The global ultrafast laser market is estimated to attain a market estimation of US$ 5.4 Bn towards 2030 end.
- North America will be foreseeing a lucrative growth in the global market, wherein East Asia will emerge as the fastest growing region over the forecast period.
- Consumer electronics will be witnessed as the most remunerative end use category during 2020-2030.
- Fiber laser category will account for market share of 42% in the global market.
- Micromachining is anticipated to be most preferred application over the projected period.
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Ultrafast Laser Market - Driving Factors
- Growing demand for ultrafast laser in the medical field for cancer treatment, X-rays, and several other surgical processes is complimenting market growth.
- Surging application in military equipment production as manufacturers have switched to precision technologies such as ultrafast laser is encouraging market growth.
- Improved accuracy and reduced overall production time & running expenditure, strongly supports market growth.
Ultrafast Laser Market - Constraints
- Absence of skilled labour and strict government regulations are anticipated to be major drawbacks in the global market.
- High cost associated with the initial adoption of ultrafast lasers might hamper the sales during the forecast period.
Anticipated Market Impact by COVID-19 Outbreak
Ultrafast laser market player are facing multiple challenges due to the COVID-19 outbreak. Restrictions imposed on manfacturing activities are anticipated to have a lasting impact on the global market. Moreover, deferment of several businesses has impinged on the demand for lasers, therefore hindering market growth.
Post COVID-19 crisis, players will focus on boosting their presence in emerging economies via acquisitions and product development, which will prompt positive growth prospects for the ultrafast laser market.
Explore the global Ultrafast Laser market with 171 figures, 70 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/3464/ultrafast-laser-market
Major market players identified in the global market are NKT Photonics A/S, MKS Instruments Inc.,Viavi Solutions, Laser Quantum Ltd. (Novanta Inc.), Jenoptik AG, and IPG Photonics Corporation.
More on the Report
The Fact.MR's market research report provides in-depth insights into the ultrafast laser market. The market is scrutinized based on type (titanium-sapphire lasers, mode-locked diode-pumped bulk lasers, fiber lasers, mode-locked dye lasers, mode-locked diode lasers, and others), pulse duration (picosecond and femtosecond), end use (consumer electronics, healthcare & life science, automotive, aerospace and defense, industrial, and research & academics), application (micromachining [flat panel display manufacturing, thin film micromachining, two-photon polymerization, precision micromachining, others], medical [medical device fabrication, cardiovascular stent manufacturing, laser eye surgery, and others], bio-imaging [multiphoton microscopy, multimodal imaging, and others], and scientific research [multi-dimensional spectroscopy, THz spectroscopy, coherent control, high harmonic generation, and others]) across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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