News

The global Micromachining market size is expected to be worth around US$ 4.32 billion by 2027, according to a new report by Vision Research Reports.

The global Micromachining market size was valued at US$ 2.50 billion in 2019 and is anticipated to grow at a CAGR of 7.2% during forecast period 2020 to 2027.

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Growth Factors

The increased adoption of these systems in the development of miniaturized components for various industries and sectors such as oil and gas, manufacturing, and mining is a major factor driving the market growth. The increased demand for various sensors including motion sensors, position sensors, and displacements sensors in wearable devices such as electronic skin and is expected to further drive the growth. In addition, there has been a significant rise in the adoption of these systems in the fabrication automotive sensors such as parking sensors, collision avoidance sensors, and airbag sensors.

The growth is driven by the increasing adoption of these systems for the fabrication of micro-components in industries such as automotive, healthcare, consumer electronics, healthcare, and aerospace. The increasing advancements in the production technologies have resulted in a reduction in the time required for the manufacturing of components, which has further boosted the market growth. Besides, various companies in the manufacturing sector such as Johnson Matthey and Tekniker have shown a preference for laser-based material over traditional micromachining that bodes well for market growth.

Report Highlights

• Non-traditional segment is anticipated to grow significantly on account of the increasing adoption of laser micromachining in drilling high aspect ratio micro holes in components used in industries such as oil and gas and power
• Growing usage of additive process for surface micromachining of Silicon Carbide (SiC) semiconductor devices to produce structural and sacrificial layers bodes well for the growth of additive segment
• The 5-axis segment is projected to expand at the highest CAGR on account of increase in the number of companies providing 5-axis micromachining services such as Owens Industries, Inc.; DEYUCNC, Inc.; and GFH GmbH
• Micromachining is increasingly being adopted in the fabrication of micro structured medical devices such as tissue engineering scaffolds and microneedles. As a result, the healthcare segment is projected to grow at the highest CAGR.
• The Asia Pacific region is expected grow significantly over the forecast period owing to the increasing adoption for multi-axis laser micromachining systems in automotive sector.

Key Players

• AMADA WELD TECH Co., Ltd.
• Coherent, Inc.
• Electro Scientific Industries
• Georg Fischer Ltd.
• Han’s Laser Process Industry Group Co., Ltd.
• IPG Photonics Corporation
• Makino
• MITSUBISHI HEAVY INDUSTRIES, LTD.
• OpTek Ltd.
• Oxford Lasers

Market Segmentation

Micromachining Type Outlook 

• Traditional
• Non-traditional
  • Electro Discharge Machining (EDM)
  • Electrochemical Machining (ECM)
  • Laser
• Hybrid

Micromachining Process Outlook 

• Additive
• Subtractive
• Others

Micromachining Axis Outlook 

• 3-axis
• 4-axis
• 5-axis

Micromachining End-use Outlook 

• Automotive
• Semiconductors & Electronics
• Aerospace & Defense
• Healthcare
• Telecommunications
• Power & Energy
• Plastics & Polymers
• Others

Micromachining Regional Outlook 

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

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