North America 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)
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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.
The US, Canada, and Mexico are major economies in North America. Technological advancement and usage of ultrafast lasers in diverse industry applications is the major factor driving the growth of the North America ultrafast lasers market. Various industries are surely hit by the COVID-19 pandemic; however, there will be an expected rebounding of the economy once the situation normalizes. For instance, in automotive industry, there will be significant shift toward electric vehicles (EV) that will, in turn, create the need for ultrafast laser systems. Similar trend can be witnessed in consumer electronics and medical sectors. Ultrafast laser has various advantages that attract its adoption in various industries. Ultrashort pulse (USP) lasers for accurate micromachining can reduce or avoid unwanted thermal effects, which limit feature resolution, edge quality and, or the overall product functionality. Laser manufacturers have developed a new generation of femtosecond (fs) lasers for industrial users based on new material—ytterbium doped fiber. This material has the capability of much higher powers than previous femtosecond lasers and is usually wrapped in a master oscillator/power amplifier (MOPA) internal configuration. Further, there has also been recent development in picosecond (Ps) lasers for industrial application. Industries are showing interest in using picosecond laser for lower power applications such as drilling small holes, marking in automotive, and manufacturing medical and semiconductor devices. This has created a significant demand for Ps lasers. The lower cost of ownership and pulse-to-pulse stability are among the few benefits of Ps lasers. One of these newly developed Ps laser is Rapid NX series from Coherent Inc., and it offers many watts of near infrared output in an efficient form.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America ultrafast lasers market. The North America ultrafast lasers market is expected to grow at a good CAGR during the forecast period.
North America Ultrafast Lasers Market Segmentation
North America Ultrafast Lasers Market – By Type
- Diode-Pumped Lasers
- Mode-Locked Diode Lasers
- Titanium-Sapphire Lasers
- Fiber Lasers
North America Ultrafast Lasers Market – By Pulse Duration
- Picosecond
- Femtosecond
North America Ultrafast Lasers Market – By Application
- Consumer Electronics
- Industrial
- Automotive
- Medical & Scientific
North America Ultrafast Lasers Market, by Country
- US
- Canada
- Mexico
North America Ultrafast Lasers Market - Companies Mentioned
- Amplitude Laser
- Clark-MXR, Inc.
- Coherent, Inc.
- Jenoptik AG
- KMLabs
- Laser Quantum
- NKT Photonics A/S
- Spark Lasers
- Wuhan Huaray Precision Laser Co., Ltd.
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