The Europe Micromachining Market would witness market growth of 9.5% CAGR during the forecast period (2020-2026).
The increased use of these systems in the production of miniaturized components for various industries and sectors, such as oil and gas, manufacturing and mining, is a key driver of market growth. The increased demand for numerous sensors, including motion sensors, location sensors and displacement sensors, in wearable devices such as electronic skin and smart watches is expected to further fuel production. In addition, there has been a major growth in the use of these technologies in the manufacture of automotive sensors such as positioning sensors, collision prevention sensors and airbag sensors.
One of the developments in sensor technology is the production of Microelectromechanical Systems (MEMS), which may contribute to very small architectures varying from 20 micrometers to 1 millimeter. While these devices are very small, they can sense acceleration, distance, and shock and cause corrective action. Micromachining has enabled the production of micro-sensors to capture data and micro-actuators to turn energy into motion on the same substrate. The increasing in demand for multi-axis Computer Numerical Control (CNC) micromachining systems is projected to fuel market growth over the forecast period.
Based on Type, the market is segmented into Non-traditional, Traditional and Hybrid. Based on Process, the market is segmented into Subtractive and Additive & Others Based on Axis, the market is segmented into 3-Axis, 4-Axis and 5-Axis. Based on Industry Vertical, the market is segmented into Automotive, Semiconductors & Electronics, Healthcare, Aerospace & Defense, Telecommunications, Plastics & Polymers, Power & Energy and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MKS Instruments, Inc. (Electro Scientific Industries), Mitsubishi Heavy Industries Ltd., Lumentum Holdings, Inc., IPG Photonics Corporation, Georg Fischer Ltd., Coherent, Inc., Oxford Lasers Ltd., Makino Milling Machine Co., Ltd., Han’s Laser Technology Industry Group Co., Ltd., and Heraeus Holding GmbH.
Scope of the Study
• Additive & Others
By Industry Vertical
• Semiconductors & Electronics
• Aerospace & Defense
• Plastics & Polymers
• Power & Energy
• Rest of Europe
• MKS Instruments, Inc. (Electro Scientific Industries)
• Mitsubishi Heavy Industries Ltd.
• Lumentum Holdings, Inc.
• IPG Photonics Corporation
• Georg Fischer Ltd.
• Coherent, Inc.
• Oxford Lasers Ltd.
• Makino Milling Machine Co., Ltd.
• Han’s Laser Technology Industry Group Co., Ltd.
• Heraeus Holding GmbH
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Gross Domestic Product
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