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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Non-traditional micromachining segment to grow at the highest CAGR during the forecast period
Non-traditional micromachining consists of sub-types such as electrochemical micromachining, electrical discharge micromachining, ultrasonic micromachining, and laser micromachining. Laser micromachining and ultrasonic micromachining are some of the dominant sub-types of micromachining that offer ease of use, precision, and extensive usage in various industries. These advantages of laser and ultrasonic micromachining drives the market for non-traditional type micromachining.
“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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