Asia Pacific Tunable Lasers Market is expected to reach US$ 791.57 Million by 2028

Manufacturing Segment to Dominate Asia-Pacific Tunable Lasers Market during 2019–2028

According to a new market research study on “Asia-Pacific Tunable Lasers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, End-User, Technology, and Wavelength,” is expected to reach US$ 791.57 million by 2028 from US$ 419.83 million in 2021. The market is estimated to grow at a CAGR of 9.5% from 2021 to 2028. Growing adoption across manufacturing and industrial sectors is the major factor driving the growth of the Asia-Pacific tunable lasers market. However, supply chain disruptions may hinder the growth of Asia-Pacific tunable lasers market. The report provides trends prevailing in the Asia-Pacific tunable lasers market along with the drivers and restraints pertaining to the market growth.

Due to the COVID-19 outbreak, Asia-Pacific is expecting to witness huge economic challenges. Asia-Pacific is characterized by the presence of various developing countries, high industrial growth, a positive economic outlook, and a large population. Moreover, manufacturing is one of the most significant industries in the Asian economy due to the growing need for industrial and consumer products. However, the government imposed lockdowns, travel restrictions, and trade bans have disrupted and delayed the various industries' operations, such as manufacturing. Thus, the slowdown of major industries in Asia-Pacific has subsequently affected the demand for ultrafast lasers, which hampered the market growth. Further, the original equipment manufacturer (OEM) have also faced challenges in procuring raw material due to supply chain disruptions, thereby restraining their production process.

The Asia-Pacific tunable lasers market segmented by type, end-user, technology, wavelength, and country. Based on type, the Asia-Pacific tunable lasers market is segmented into solid-state, gas, free-electron lasers, and others. In 2020, the solid-state segment held the largest share Asia-Pacific tunable lasers market. The Asia-Pacific tunable lasers market by end-user has been segmented into manufacturing, telecommunications, medical & biotechnology, aerospace, electronics & semiconductor, and others. In 2020, the telecommunications segment held the largest share Asia-Pacific tunable lasers market. Based on technology, the Asia-Pacific tunable lasers market is segmented into cavity diode laser, distributed bragg reflector, vertical cavity surface emitting lasers (VCSELs), and micro electro mechanical system (MEMS). In 2020, the cavity diode laser segment held the largest share Asia-Pacific tunable lasers market. Based on wavelength, the Asia-Pacific tunable lasers market is segmented into less than 1000nm, 1000nm-1500nm, and above 1500nm. In 2020, the 1000nm-1500nm segment held the largest share Asia-Pacific tunable lasers market. Similarly, based on country, the market is segmented into Australia, China, India, Japan, South Korea, and rest of Asia-Pacific. China contributed a substantial share in 2020. 

Coherent, Inc.; EMCORE Corporation; EXFO Inc.; FURUKAWA ELECTRIC CO., LTD; HÜBNER GmbH & Co. KG; KEYSIGHT TECHNOLOGIES; Lumentum Operations LLC; Luna Innovations Inc.; NeoPhotonics Corporation; SANTEC CORPORATION; and Toptica Photonics AG are among the leading companies in the Asia-Pacific Tunable Lasers Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Toptica announced its expansion in China, by launching its new office "TOPTICA Photonics (China) Co., Ltd.", in Shanghai and a branch in Beijing.

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