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.
The major companies in micromachining market includes 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.
“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.
North America was the largest market for micromachining in 2019
North America accounted for a significant share of the global micromachining market in 2019. The region (for this study) includes the US, Canada, and Mexico. Leading companies in this region provide the most developed micromachining to various industries such as automotive and aerospace & defense. Some of the prominent companies from North America include General Motors, Ford, General Electric, Rockwell Automation, and Coherent, among others, that widely use micromachined products. The presence of all major companies, strong industrial demand, and steady supply-side drive the market in North America.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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