Micromachining Global Market Report 2022

Micromachining Global Market Report 2022

  • July 2022 •
  • 175 pages •
  • Report ID: 6310846 •
  • Format: PDF
Major players in the micromachining market are Amada Weld Tech Co., Ltd., Coherent, Inc., Georg Fischer Ltd., Han’s Laser Process Industry Group Co., IPG Photonics Corporation, Lumentum Holdings Inc., Makino Milling Machine Co, Mitsubishi Heavy Industries, Ltd., OpTek Ltd., Oxford Lasers, Reith Laser B.V., Potomac Laser, Mks Instruments Inc., 3D-Micromac AG, and 4JET Microtech GmbH.

The global micromachining market is expected to grow from $2.54 billion in 2021 to $2.75 billion in 2022 at a compound annual growth rate (CAGR) of 8.44%. The micromachining market is expected to grow to $3.66 billion in 2026 at a compound annual growth rate (CAGR) of 7.39%.

The micromachining market consists of sales of the micromachining by entities (organizations, sole traders, and partnerships) that refer to machine, which runs on a manufacturing technique that involves the subtractive construction of devices or features with at least some of their dimensions in the micrometer range using mechanical micro tools with geometrically defined cutting edges.Micromachining equipment is used to manufacture small, complicated pieces with high precision and low operational costs.

These components can then be employed in studies to mimic large-scale processes on a microscale.

The main types of micromachinings include traditional, non-traditional, and hybrid.The hybrid refers to micromachining systems that run with the integration of multiple micro-machining processes to improve machinability, geometrical precision, tool life, surface integrity, machining rate, and process forces.

The main types of hybrid micromachining solutions include electric discharge machining, electrochemical machining, and others.The types of manufacturing processes used in micromachining include additive, subtractive, and others.

These systems are differentiated by axis into 3-axis, 4-axis, 5-axis, and others. These systems are used in automotive, semiconductor & electronics, aerospace & defence, healthcare, telecommunications, power & energy, plastics & polymers, gems & jewelry, and others.

Asia-Pacific was the largest region in the micromachining market in 2021. The regions covered in the micromachining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The micromachining market research report is one of a series of new reports that provides micromachining market statistics, including micromachining industry global market size, regional shares, competitors with a micromachining market share, detailed micromachining market segments, market trends and opportunities, and any further data you may need to thrive in the micromachining industry. This micromachining market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The robust growth of the semiconductor and electronics sector is expected to propel the growth of the micromachining market.Due to continual technological developments and investments in research and development operations, the worldwide semiconductor and electronics sector has been growing rapidly in recent years.

Artificial intelligence (AI), 5G, the Internet of Things (IoT), and autonomous cars are all pushing the boundaries and presenting a significant growth opportunity globally for the semiconductor and electronics business.Additionally, micromachining equipment is widely used in the manufacturing of miniature components with intricate geometry in the semiconductor industry.

According to a study by Deloitte, the global semiconductor chip industry is expected to reach about US$600 billion in 2022. Due to the growth in this sector, the demand for miniature components used in this sector is also increasing, which will lead to drive the micromachining market.

Technology advancement is a key trend in the micromachining market.Micro components are being used in extremely complicated structures.

Manufacturers utilize this opportunity by bringing technological advancements in micromachinings such as micro-cutting, micro-EDM, laser micro-machining, FIB machining, and others.The companies are investing in the development of innovative lasers to increase the operational capabilities of micromachining equipment over sensitive and high strength materials such as medical devices, polymers, metals and others.

For instance, MKS Instruments, Inc., a USA-based provider of instruments, systems, subsystems, and process control solutions launched Specta-Physics Spirit 1030-140 an industrial femtosecond hybrid laser with the potential to deliver power greater than 140 W, and more than 600 micro-Joules of pulse energy. The laser is the ideal solution for micromachining of polymers, thin metals, polycrystalline diamonds, and others.

In August 2020, Lasea group, a Switzerland-based producer of high-precision micro-machining laser solutions, acquired Optec Layer systems for an undisclosed amount.This acquisition will enable the Lasea Group to provide a broader range of products to its customers and expand in the market.

Optec Layer systems, a San Diego-based company involved in designing, development, manufacturing, and distribution of laser micro-machining machines for the medical and electronics sectors.

The countries covered in the micromachining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.