Report : Europe Tunable Lasers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Solid-State, Gas, Free-Electron Laser (FEL), and Others], End-User (Manufacturing, Telecommunications, Medical & Biotechnology, Aerospace, Electronics & Semiconductor, and Others), Technology [Cavity Diode Laser (DBR), Distributed Bragg Reflector (DFB), Vertical Cavity Surface Emitting Lasers (VCSELs), and Micro Electro Mechanical System (MEMS)], and Wavelength (Less than 1000 nm, 1000-1500 nm, and Above 1500 nm)Â
Telecommunications Segment to Dominate Europe Tunable Lasers Market during 2019–2028
According to a new market research study on “Europe 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$ 461.42 million by 2028 from US$ 260.42 million in 2021. The market is estimated to grow at a CAGR of 8.5% from 2021 to 2028. Growing adoption of tunable lasers across industries is the major factor driving the growth of the Europe tunable lasers market. However, supply chain disruptions may hinder the growth of Europe tunable lasers market. The report provides trends prevailing in the Europe tunable lasers market along with the drivers and restraints pertaining to the market growth.
Italy, the UK, Russia, France, and Germany are among the worst affected economies in Europe due to the COVID-19 outbreak. The region is facing a severe financial crisis as businesses either had to reduce their activities substantially or suspend their operations. Due to travel restrictions, lockdowns, and supply chain disruptions, the region witnessed an economic slowdown in 2021. Moreover, the pandemic has resulted in the shutdown of various companies in the industrial manufacturing domain, which has impacted the demand for ultrafast laser systems. Europe is a major industrial hub for several sectors, such as machinery, manufacturing, and logistics. However, due to lockdowns, travel restrictions, and supply chain disruptions, the region has witnessed a decline in operational activities in these industries, which has impacted the growth of the tunable lasers market in Europe. However, with the introduction of vaccination drives in various European countries, the overall post-pandemic situation is improving, which will also increase the demand for ultrafast lasers.
The Europe tunable lasers market segmented by type, end-user, technology, wavelength, and country. Based on type, the Europe tunable lasers market is segmented into solid-state, gas, free-electron lasers, and others. In 2020, the solid-state segment held the largest share Europe tunable lasers market. The Europe 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 Europe tunable lasers market. Based on technology, the Europe 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 Europe tunable lasers market. Based on wavelength, the Europe tunable lasers market is segmented into less than 1000nm, 1000nm-1500nm, and above 1500nm. In 2020, the 1000nm-1500nm segment held the largest share Europe tunable lasers market. Similarly, based on country, the market is segmented into Germany, France , Italy, Russia, UK, and rest of Europe. Germany contributed a substantial share in 2020.
Coherent, Inc.; EMCORE Corporation; EXFO Inc.; FURUKAWA ELECTRIC CO., LTD; HÜBNER GmbH & Co. KG; ID Photonics GmbH; KEYSIGHT TECHNOLOGIES; Lumentum Operations LLC; Luna Innovations Inc.; NeoPhotonics Corporation; SANTEC CORPORATION; and Toptica Photonics AG are among the leading companies in the Europe 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 2021, NeoPhotonics Corporation announced that it has shipped a cumulative total of more than two million of its industry-leading ultra-narrow linewidth tunable lasers since initiating shipments in 2011.
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