According to the new market research report on the "Micromachining Market by Type (Traditional, Non-traditional, Hybrid), Process (Additive, Subtractive, Others), Axis (3 axes, 4 axes, 5 axes), Industry (Automotive, Aerospace & Defense), and Geography - Global Forecast to 2025", The global micromachining market size is projected to reach USD 3.3 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 6.2%. The growth of this market can be attributed to the increasing preference for laser-based micromachining over traditional processes and increasing demand for miniaturization of microelectronic devices.
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Additive process of micromachining market to hold the highest growth rate during the forecast period
Additive machining or manufacturing is also known as 3D printing. The additive micromachining consists of surface micromachining which is further sub-segmented into chemical vapor deposition (CVD), electrodeposition, epitaxy, and physical vapor deposition (PVD).
With the increasing use of 3D printing for micromachining in industries such as medical & aesthetics, and semiconductor & electronics as it offers application flexibility and mass production of customized equipment heralds the highest growth rate of the additive process in micromachining market.
“APAC to be the largest market for micromachining during the forecast period.”
APAC is anticipated to be the fastest-growing region for micromachining due to technological innovations and adoption of the micromachining in the automotive and medical & aesthetics. Emerging economies in APAC are growing significantly in the micromachining market. The market in this region is led by China, India, and Japan, among others.
The APAC region is a promising and emerging market for micromachining owing to factors such as growing economies and booming automotive and manufacturing industries. A few leading micromachining manufacturing companies are from Japan, such as Makino, which offer innovative micromachining across different sectors.
Major players operating in the global micromachining market are Coherent, Inc. (US), Georg Fischer Ltd. (Switzerland), Makino Milling Machine Co., Ltd. (Japan), Lumentum Holdings Inc. (US), Mitsubishi Heavy Industries, Ltd (Japan), DATRON Dynamics, Inc. (US), Han’s Laser Technology Industry Group Co., Ltd (China), Electro Scientific Industries, Inc. (US), IPG Photonics Corporation (US), and Heraeus Holding GmbH (Germany), among others. Other companies include OMAX CORP. (US), 3D Micromac (Germany), Lasea (Belgium), Posalux SA (Switzerland), SCANLAB GmbH (Germany), Tornos S. A. (Switzerland), Swisstec 3D Akus AG (Switzerland), Kugler GmbH (Germany), and GFH GmbH (Germany), among others.
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