After breaking his arm at Aston Villa in February, Giggs made his comeback in Manchester United's victory over Liverpool last weekend.
The veteran Welshman is bound to play a major role over the next few weeks as United chase silverware in both the Premier League and Champions League.
Star man: Fletcher was outstanding against Liverpool last week
Giggs' chances of starting at Bolton on Saturday depend on how much Ferguson will want him involved for their crunch clash with Bayern Munich in Germany.
But whether he is involved at the Reebok Stadium or not, Fletcher knows his 36-year-old team-mate is going to be a key man.
'Ryan's experience at handling pressure situations is going to be vital,' said the Scotland skipper.
'The moment that spoke volumes about that was his touch and pass in the last minute of injury time against Manchester City earlier this season.
'It was the last minute of a pressure game but he didn't panic. He has so much experience in these situations and it is great to have him back.'
Even Giggs' colleagues are amazed at the glorious autumn he is having to such a stellar career.
With the PFA player of the year and the BBC Sports Personality of the year added to a trophy collection that could be swollen by a 12th championship medal in May, at least his individual brilliance has received wider recognition.
Not that the United dressing room needed telling.
Late run: Giggs played just over 10 minutes after his spell out of action
'Ryan has been revitalised,' said Fletcher. 'He is not the flying winger that he once was but he has adapted.
'He has probably got the most assists because he still has the eye for a killer pass and floats into inside areas where he is hard to mark.
'He still has that burst of pace over first five or 10 yards as well that means he can get away from opponents.
'He is a really intelligent player and a great player to play with.'
United do have a major fitness concern over Wayne Rooney, who apparently has not trained all week as he continues to struggle with a knee injury.
Ferguson will not want to take any undue risks ahead of the Bayern game, so it would be no surprise if Dimitar Berbatov took over the sole striking duties, as he did with some success at Wolves earlier this month.
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