Asia Pacific Ultrafast Lasers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Pulse Duration, and Application

Asia Pacific Ultrafast Lasers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Pulse Duration, and Application

  • July 2021 •
  • 125 pages •
  • Report ID: 6134607 •
  • Format: PDF
The ultrafast lasers market in APAC is expected to grow from US$ 548.14 million in 2021 to US$ 1,224.83 million by 2028; it is estimated to grow at a CAGR of 12.2% from 2021 to 2028. With government support, several start-ups are entering the market, and many more start-ups are expected to enter the market soon. For instance, in recent years, government support has led to a steady stream of start-up laser companies in high-intensity laser technology. The start-up fund in the region is driven by several supportive factors including research funding and equipment purchase funding. For instance, joint university–industry research centers such as the Fraunhofer Institutes provided substantial government support for industry-directed projects. Due to these initiatives, there has been a proliferation of companies, such as OneFive (acquired by NKT Photonics), Class Photonics GmbH, Amplitude Systemes, Menlo Systems, and TRUMPF Scientific Lasers, in laser technology. Additionally, rising usage of laser technology is among the other factors expected to fuel the demand for ultrafast lasers in APAC.
Based on application, the industrial segment led the APAC ultrafast lasers market in 2020.The fiber laser is a variation on the standard solid-state laser.

The industrial application incudes the use of ultrafast lasers for manufacturing processing of any industrial products ranging from machines to aerospace equipment.Ultrafast laser in the industrial domain is used in heating for hardening, melting for welding and cladding, and removing of material for drilling and cutting.

Femtosecond laser processing for material manufacturing is gaining traction.For surface processing, ultrafast lasers have become an industry standard.

Current advanced femtosecond lasers are capable to process almost any kind of material at high speed with unmatched precision. Ultrafast industrial lasers offer unique benefits for a variety of high precision processing tasks involving metals, diamond, thin films, and other challenging processing.
Due to the outbreak of COVID-19, APAC is expecting to witness a huge economic challenge.APAC is characterized by the presence of various developing countries, high industrial growth, positive economic outlook, and large population.

Moreover, manufacturing is one of the prominent industries in Asian economy due to rising need for industrial and consumer products, however due to government’s measures to reduce the spread of COVID-19 by announcing lockdowns, travel and trade bans have disrupted and delayed the operations in manufacturing, and other industries.Thus, slow down of major industries in APAC has subsequently affected the demand of ultrafast Laser, which, in turn has hampered the market growth.

Further, the OEMs have also faced challenges in procuring raw material due to supply chain disruption thereby hampering their production process.
The overall APAC ultrafast lasers market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the APAC ultrafast lasers market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the APAC ultrafast lasers market. Amplitude Laser; Coherent, Inc.; Fluence Sp. z o.o; Jenoptik AG; KMLabs; Laser Quantum; NKT Photonics A/S; Spark Lasers; and Wuhan Huaray Precision Laser Co., Ltd. are among the key players operating in the APAC ultrafast lasers market.

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