Report : Asia Pacific Ultrafast Lasers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Diode-Pumped Lasers, Mode-Locked Diode Lasers, Titanium-Sapphire Lasers, and Fiber Lasers), Pulse Duration (Picosecond and Femtosecond), and Application (Consumer Electronics, Industrial, Automotive, and Medical & Scientific)
Industrial Segment to Dominate APAC Ultrafast Lasers Market during 2020–2028
According to a new market research study on “APAC Ultrafast Lasers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Pulse Duration, and Application” is expected to reach US$ 1,224.83 million by 2028 from 548.14 US$ million in 2021. The market is estimated to grow at a CAGR of 12.2% from 2021 to 2028. The report provides trends prevailing in the APAC ultrafast lasers market along with the drivers and restraints pertaining to the market growth. Boost in adoption of ultrafast lasers due to rising government intervention is the major factor driving the growth of the APAC ultrafast lasers market. However, issues such as high expenditure associated with ultrafast lasers hinder the growth of APAC ultrafast lasers market
The APAC ultrafast lasers market is segmented based on type, pulse duration, application, and country. Based on type, the APAC ultrafast lasers market is sub-segmented into diode-pumped lasers, mode-locked diode lasers, titanium-sapphire laser, fiber laser and others. The fiber lasers segment held the largest market share in 2020. Based on pulse duration, the APAC ultrafast lasers market is categorized into picosecond and femtosecond. The femtosecond segment held the largest market share in 2020. Based on application, the market is sub-segmented into consumer electronics, automotive and others. The industrial segment dominated the APAC ultrafast lasers market in 2020.
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.
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 leading companies in the APAC ultrafast 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, Jenoptik has successfully completed acquisition of TRIOPTICS GmbH.
The report segments the APAC Ultrafast Lasers Market follows:
APAC Ultrafast Lasers Market – By Type
- Diode-Pumped Lasers
- Mode-Locked Diode Lasers
- Titanium-Sapphire Lasers
- Fiber Lasers
APAC Ultrafast Lasers Market – By Pulse Duration
APAC Ultrafast Lasers Market – By Application
- Consumer Electronics
- Medical & Scientific
APAC Ultrafast Lasers Market – By Country
- South Korea
- Rest of APAC
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