Quantum Cascade Lasers Market by Packaging Type (C-Mount, HHL & VHL Package, TO3 Package), Operation Mode (Continuous Wave, Pulsed), Fabrication Technology (Fabry–Perot, Distributed Feedback, Tunable External Cavities), End-User - Global forecast to 2022
“Quantum cascade lasers market to grow at a CAGR of 3.9% during the forecast period” According to the new market research report on quantum cascade lasers (QCL), this market is expected to be worth USD 374.8 million by 2022, growing at a CAGR of 3.9% between 2017 and 2022. The growth of the QCL market can be attributed to the growing application of QCL in gas sensing and chemical detection in industries and the increasing adoption of non-invasive diagnostic tools in the medical industry. The high cost of QCLs is the main restraining factor for the QCL market.
The market for HHL & VHL packaged QCL is expected to grow rapidly The market for HHL & VHL packaged QCLs is expected witness the highest growth during the forecast period because of the high-power applications in the military and defense sector. HHL & VHL packaged QCLs are used in high-power applications in the military and defense sector for infrared countermeasures (IRCM).
Industrial sector held the largest market share in 2016 The industrial sector held the largest share of the QCL market among industries such as medical, telecommunication, and military and defense. Gas sensing and chemical detection is the main application of QCLs. These techniques are adopted in various industries to detect hazardous gases such as CO, CO2, and NH3.
RoW and Asia Pacific to be the fastest-growing markets North America held the largest share of the global QCL market in 2016 due to the early adoption and high demand for QCLs in the industrial sector. APAC and RoW are the fastest-growing QCL markets because of the presence of emerging economies, such as China and India, where industrial development is taking place at a very high rate. India’s industrial production rose to 5.7% in the third quarter of 2016. Therefore, this region is also expected to continue its growth at the highest rate between 2017 and 2022.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews of key opinion leaders in the QCL market were conducted. The break-up of primary participants for the report is shown below: • By Company Type: Tier 1– 55%, Tier 2 – 20%, and Tier 3 – 25% • By Designation: C-level – 75%, Manager level – 25% • By Region: North America – 10%, Europe – 20%, APAC – 40%, and RoW –30%
The report profiles key players in the QCL market with their respective market share analysis. The prominent players profiled in this report are Block Engineering, Inc. (US), Wavelength Electronics, Inc. (US), Hamamatsu Photonics K.K. (Japan), Thorlabs, Inc. (US), Alpes lasers SA (Switzerland), mirSense (France), AdTech Optics (US), Pranalytica Inc. (US), AKELA Laser Corporation (US), and nanoplus Nanosystems and Technologies GmbH (Germany).
Research Coverage: The report describes various technologies associated with quantum cascade lasers and related developments in terms of packaging type, operation mode, and fabrication technology across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies. The report also covers the DIVE chart analysis of top players in the quantum cascade lasers market.
Reasons to Buy the Report: The report will help leaders/new entrants in this market in the following ways: 1. This report segments the QCL market comprehensively and provides the closest approximations of the size of the overall market and its subsegments across verticals and regions. 2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders understand a competitor better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem and strategic developments.