According to a research report "Laser Interferometer Market with COVID-19 Impact Analysis by Interferometer Type (Michelson, Fabry-Perot, Fizeau, and Twyman-Green), Type, Application (Surface Topology, Engineering, and Science), End-User Industry, and Geography - Global Forecast to 2026" published by MarketsandMarkets, the global laser interferometer market size is expected to grow from USD 245 million in 2021 to USD 335 million by 2026, at a CAGR of 6.5%. Laser interferometers are usually used in ultraprecision machining and manufacturing, ultraprecision positioning control, as well as several non-contact optical sensing technologies. Laser interferometers are also extensively used in science and other industries for the measurement of small displacements, refractive index changes, and surface irregularities. Major factors driving the growth of the laser interferometer market are the growing demand for 3D metrology services, focus on quality control, and increasing expenditure on R&D activities. Quality control is an integral part of production processes, as it helps the process run flawlessly without incurring any extra cost. Under quality control and inspection, a laser interferometer is used for measurement, position control, dimensional analysis, and machine calibration, among other functions.
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As a result of the COVID-19 outbreak, businesses worldwide have been impacted by revenue losses and disrupted supply chains as factory shutdowns and quarantine measures have been implemented across the globe, restricting movement and business activities.
Surface topology segment is expected to hold the largest market share during the forecast period
Interferometry is a well-recognized technique for surface topology measurement. Interferometric measurements of a surface shape include relative measurement techniques, in which the shape of a known surface is compared with that of an unknown surface, and the difference is displayed as a series of interference fringes. Surfaces are an important tool to describe and analyze a multitude of phenomena related to the social, economic, natural, and technical sciences. Interferometry is a well-established technique for surface topography measurement. With the rapid development of interferometry technology, Phase Shifting Interferometry (PSI), has become one of the important methods in the modern measurement of optics surface shape. A laser interferometer probe is used to sense and characterize stress waves directly. It is useful in determining complex signals gathered from acoustic emissions due to cracking in metals or crazing of polymers.
Heterodyne segment is estimated to be the dominating market during the forecast period
The heterodyne segment is expected to capture the larger share (~56%) of the laser interferometer market throughout the forecast period and grow at the highest CAGR during the forecast period. A homodyne interferometer uses a single-frequency laser source, whereas a heterodyne interferometer uses a laser source with two close frequencies. Most commercial Fourier-Transform (FT) spectrometers today use Helium-Neon (HeNe) laser interferometers as position sensors. Heterodyne interferometers are mostly used in precision instruments for modern industrial and scientific applications, which is expected to propel the growth of the laser interferometer market. In heterodyne interferometers, only a single detector is required to measure both the displacement and the direction, which makes the alignment of an object easier.
The Asia Pacific is expected to grow at the highest rate
The APAC region is expected to witness the highest growth during the forecast period, owing to increasing use in applications, such as surface topology, metrology, inspection, and detection. APAC is a potential market for laser interferometers, owing to the increasing urbanization, increasing demand for automobiles, and rapidly growing electronics manufacturing industry in the region. The increasing adoption of advanced technologies for precise measurements in the manufacturing sector in APAC is expected to propel the growth of the laser interferometer market in the region. Many industrial products such as automotive parts and components, electronics devices, heavy machines, and electrical devices contain various mechanical parts, most of which have tight tolerances that need to be measured and calibrated before the parts are assembled into final products. This is expected to increase the demand for laser interferometers in the automotive, aerospace, and other industries. India, China, South Korea, and Japan are some of the major countries contributing to the growth and development of the laser interferometer market in APAC.
Major players in the Laser Interferometer market include Renishaw PLC (UK), Keysight Technologies (US), Carl Zeiss (Germany), SIOS Meßtechnik GmbH (Germany), AMETEK, Inc. (US), Mahr Inc. (Germany), TOSEI ENGINEERING CORP. (Japan), QED Technologies (US), MÖLLER-WEDEL OPTICAL GmbH (Germany), SmarAct GmbH (Germany), Luna Innovations Incorporated (US), 4D Technology Corporation (US), ÄPRE Instruments (US), Trioptics GmbH (Germany), AdlOptica Optical Systems GmbH (Germany), Logitech Limited (UK), Holmarc Opto-Mechatronics P Ltd (India), attocube systems AG (Germany), HighFinesse Laser and Electronics Systems GmbH (Germany), XONOX Technology GmbH (Germany), Thorlabs, Inc. (US), Automated Precision, Inc. (US), Lasertex Co. Ltd (Poland), and FUJIFILM Holdings Corporation (Japan) among others.
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