Ultrafast Lasers Market to See 24.7% Annual Growth Through 2022

Lack of Substitutions, Unmatched High-Range Intensity Drive Expansion

WELLESLEY, Mass., Oct. 23, 2018 (GLOBE NEWSWIRE) -- A lack of substitutes and unmatched high-range intensity are two factors responsible for remarkable growth in the ultrafast lasers market, according to a report by BCC Research.

The industry expects to see a compound annual growth rate (CAGR) of 24.7% through 2022, when it could be worth approximately $8.1 billion, according to the report Ultrafast Lasers: Technologies and Global Markets.

Major players in the market include Coherent, Lumentum Holdings, IPG Photonics, Jenoptik Laser and NKT Photonics.

Research Highlights

  • Fiber lasers will lead the market by size, with an estimated 2022 value of $4.3 billion, though titanium-sapphire lasers will lead the market by growth, with a CAGR through the period of 25.5%.
  • By application, the market will be led in size by material processing, with an estimated 2022 value of $352.3 million, though by growth the market will be led by automotive applications, with a CAGR through the period of 27.3%.
  • North America will lead the market for titanium-sapphire lasers by size, with an estimated 2022 value of $414.6, though by growth the market will be led by the Asia-Pacific region, with a CAGR through the period of 26.7%.

“At present, ultrafast lasers are used for various purposes such as nano-surgery, micro-machining, cellular imaging, manufacturing chips, etc.,” said report author Sinha G. Guarav. “The demand for a wide variety of such applications is increasingly making this a robust market for photonics suppliers.”

Market Restraints Include Technology Conflicts, High Initial Cost of Processing Devices

Though market growth is anticipated to be strong in all sectors and all regions of the world, several factors are conspiring to restrain expansion, the report adds. Chief among those are technology conflicts: the advantages of nanosecond and femtosecond lasers over millisecond and microsecond lasers are unknown, and this has slowed the transition from conventional to ultrafast lasers. Meanwhile, the high initial investment associated with laser processing devices makes it difficult for smaller enterprises to opt for these tools.

About BCC Research

BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.


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