Ultrafast Lasers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Ultrafast Lasers Market was valued at USD 1,619.2 million in 2021, and it is expected to reach USD 3,997.5 million by 2027, with an estimated CAGR of 16.7%, between 2021 and 2027. The COVID-19 outbreak and associated lockdown restrictions across the world affected industrial activities; Many industries witnessed a disruption in supply chain and manufacturing operations across the world. Some other effects of lockdown include lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the production of the final product to inflate and go beyond budget, shipping problems, etc.
Key HighlightsThe ultrafast laser market is highly competitive due to multiple players. The market appears to be moderately concentrated. Vendors in the market are involved in new product rollouts with significant R&D investments and partnerships that significantly boost market growth. In addition to technological investments, companies also have acquisitions as their growth strategy. The market consists of laser/photonic giants, such as Coherent, Trumpf, Jenoptik, and Lumentum.
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