North America Ultrafast Lasers Market
North America consists of Canada, the US, and Mexico, among which, the US and Canada are the developed countries in terms of modern technologies, standard of living, and infrastructure, among others. The technological advancements in North America have led to highly competitive markets. Moreover, the region is a home to world’s largest manufacturing industry, which is harnessing the latest designing and tools for producing the most advanced products and solutions including ultrafast lasers. The region has a diversified manufacturing sector consisting of industrial and consumer products and is the home of most of the fortune 500 companies in the world. The region houses some of the key ultrafast laser manufacturers, namely Amplitude Group, Coherent Inc., MKS Instruments Inc., and Novanta (Laser Quantum Ltd.). These manufacturers have been developing ultrafast lasers for application areas such as consumer electronics and automotive. All these application demands for an advance laser beam that is provided in highly repeatable pulses at a rapid repetition rate for maximum productivity and precision. The rise in disposable income drives the growth of automobile and mobile electronics industries in the region, which results in the growth of ultrafast lasers, particularly in the fiber laser market.
North America is well-known for the adoption of new technologies owing to favorable government policies to boost innovation, presence of various technological companies, and high adoption of advanced technologies in various industry verticals especially in developed countries such as Canada and the US. Thus, any negative impact on the growth of industries is expected to hamper the economic growth of the region. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. This has forced the governments to impose lockdowns to limit human movement, thereby leading the manufacturing, facilities to experience lower than usual production volumes, which is negatively impacting the demand for ultrafast laser. Further, disruption in the logistic framework at the time of first wave of the COVID pandemic created challenges for ultrafast laser provider. However, ultrafast laser manufacturer also supplies their system in defense and medical sector that are deemed to be crucial sector and were operating even at the time of pandemic. Therefore, ultrafast laser manufacturer was receiving orders from these crucial industries and were operational during the lockdown, creating enough cashflows for the OEMs.
The ultrafast lasers market in North America is expected to grow from US$ 367.75 million in 2021 to US$ 731.72 million by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028. Ultrafast laser is finding its application in major areas such as medical devices, and metal processing and defense. For instance, the US invests a significantly larger share of its tax revenue in defense than any other nation across the world. It is expected that laser technology will become an important factor of this effort owing to its applications in communications, directed energy, and remote sensing, as well as in the and analysis of materials in challenging environments. Laser technology has become a key component of the manufacturing process. The laser technology is helpful in tasks such as heating for hardening, melting for welding, and cladding, and removing materials for drilling and cutting. The laser technology is also used in the medical industry for fabricating high-quality surgical stents.
The North America ultrafast lasers market is segmented based on type, pulse duration, application, and country. Based on type, the North America 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 North America 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 North America ultrafast lasers market in 2020.
A few major primary and secondary sources referred to for preparing this report on the ultrafast lasers market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amplitude Laser; Clark-MXR, Inc.; Coherent, Inc.; Jenoptik AG; KMLabs; Laser Quantum; NKT Photonics A/S; Spark Lasers; and
Strategic insights for the North America Ultrafast Lasers provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 367.75 Million |
| Market Size by 2028 | US$ 731.72 Million |
| Global CAGR (2021 - 2028) | 10.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Ultrafast Lasers refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America Ultrafast Lasers Market is valued at US$ 367.75 Million in 2021, it is projected to reach US$ 731.72 Million by 2028.
As per our report North America Ultrafast Lasers Market, the market size is valued at US$ 367.75 Million in 2021, projecting it to reach US$ 731.72 Million by 2028. This translates to a CAGR of approximately 10.3% during the forecast period.
The North America Ultrafast Lasers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Ultrafast Lasers Market report:
The North America Ultrafast Lasers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Ultrafast Lasers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Ultrafast Lasers Market value chain can benefit from the information contained in a comprehensive market report.
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