Investment Rating - The report does not explicitly state an investment rating for the ultraviolet laser industry Core Insights - The ultraviolet laser industry is driven by national policies that promote its development, as laser technology is a fundamental tool for the transformation and upgrading of the manufacturing sector. The expansion of downstream applications and the development of supporting industries will accelerate the growth of China's laser industry, transitioning manufacturing into the "light manufacturing" era [4][32][33]. Industry Definition - Ultraviolet lasers are defined as lasers that produce and output wavelengths shorter than the violet spectrum. They are characterized by high energy concentration, short wavelengths, and high resolution, making them suitable for processing fragile materials without causing thermal damage [5][12]. Industry Classification - The ultraviolet laser industry can be classified based on the working medium into gas ultraviolet lasers and solid ultraviolet lasers. Gas lasers include excimer lasers and argon ion lasers, while solid lasers utilize nonlinear frequency conversion to generate ultraviolet light [6][7]. Industry Characteristics - Key characteristics of ultraviolet lasers include short wavelengths (typically between 150-400 nm), high energy, and cold processing capabilities, which minimize thermal damage to materials [8][9][12]. Development History - The ultraviolet laser technology originated in the 1960s, with significant advancements occurring over the decades, including the development of various types of excimer lasers and solid-state lasers [13][16]. Industry Chain Analysis - The ultraviolet laser industry chain consists of upstream (raw materials), midstream (manufacturing), and downstream (applications). Upstream includes optical materials and components, while midstream features manufacturers capable of producing lasers with varying power outputs [19][20][21]. Market Size Overview - The market size of the ultraviolet laser industry grew from 1.8 billion RMB in 2018 to 4.74 billion RMB in 2023, with a compound annual growth rate (CAGR) of 21.37%. It is projected to reach 10.92 billion RMB by 2028, with a CAGR of 17.46% [31]. Competitive Landscape - The ultraviolet laser industry is characterized by a tiered competitive structure, with leading companies such as Spectra-Physics, Coherent, and Trumpf dominating the high-end market. Chinese companies like Inno Laser and Han's Laser are emerging as significant players, focusing on technological innovation and market expansion [38][40].