Ultrafast Lasers Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Ultrafast Lasers Market is expected to register a CAGR of 16.7% over the forecast period. The COVID-19 outbreak and the consequent lockdown restrictions worldwide affected industrial activities. Many industries witnessed a disruption in supply chain and manufacturing operations worldwide. Some other effects of lockdown include a 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, and others.
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 the market growth. In addition to technological investments, companies have acquisitions as their growth strategy. The market consists of laser/photonic giants, such as Coherent, Trumpf, Jenoptik, and Lumentum.
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