Worldwide Micromachining Market Insights, 2020-2025 Featuring Profiles for Coherent, Georg Fischer, Makino, Lumentum, Mitsubishi, and More
DUBLIN, Feb. 25, 2020 /PRNewswire/ -- 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" report has been added to ResearchAndMarkets.com's offering.
The global micromachining market size is expected to grow from USD 2.4 billion in 2020 to USD 3.3 billion by 2025, at a CAGR of 6.2%.
The growth of this market can be attributed to the increasing preference towards laser-based micromachining over the traditional process and growing demand for miniaturization of microelectronic devices. However, regulatory compliance regarding laser technology hinders market growth.
Non-traditional micromachining to capture the largest market share among different types of micromachining.
Non-traditional micromachining consists of various sub-type such as electrochemical micromachining (ECM), electrical discharge micromachining (EDM), ultrasonic micromachining, and laser micromachining. Among these types, laser micromachining is most prevalent in the market because of various reasons such as precision and efficiency. The non-traditional micromachining has some of the dominating sub-types such as laser micromachining and ultrasonic micromachining. Precision at the micro-level and applicability in various industries thus drive the market for non-traditional micromachining.
Subtractive micromachining processes are likely to hold the largest market share of the micromachining market.
Unlike additive manufacturing, subtractive manufacturing removes the thin film from the surface by various methods. Various processes include bulk micromachining, micro-cutting, micro-drilling, micro texturing, micro ablating, micro scribing, and micro engraving. The broader application of subtractive processes due to ease of use and reliability of the process fuels the market to hold the largest share.
APAC to be the fastest-growing market for micromachinings during the forecast period.
Among all regions, the market in APAC is expected to grow at the highest rate from 2020 to 2025. The growth of the market in this region is attributed to technological innovations. The world's major automakers are focusing on establishing their manufacturing plants in the APAC region, and some of them are even offering tailored electric and hybrid vehicles in this region. Since the economic liberalization in 1991, India has attracted unprecedented attention from major automakers. The APAC region is a promising and emerging market for micromachining owing to factors such as growing economies and booming demand for automobiles and manufacturing equipment.
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 many others.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Micromachining Market, By Type (2020-2025)
4.2 Micromachining Market, By Process (2020 and 2025)
4.3 Micromachining Market, By Axis (2020 and 2025)
4.4 Micromachining Market, By Industry (2020 and 2025)
4.5 Market, By Region (2020-2025)
5 Micromachining Market Overview
5.1 Introduction
5.2 Micromachining Market Dynamics
5.2.1 Drivers
5.2.1.1 Demand for the Miniaturization of Microelectronic Devices
5.2.1.2 Laser-Based Material Micromachining Preferred Over the Traditional Approach
5.2.2 Restraints
5.2.2.1 Regulatory Compliances
5.2.3 Opportunities
5.2.3.1 Development of the Sensor Fusion Technology
5.2.4 Challenges
5.2.4.1 Requirement of Low-Cost Solutions
5.2.4.2 Environmental Concerns Over the Use of Rare Earth Elements
6 Micromachining Market, By Type
6.1 Introduction
6.2 Traditional
6.2.1 Traditional Type to Lead the Automotive Market
6.2.2 Mechanical
6.2.2.1 Micro Milling
6.2.2.2 Micro Turning
6.2.3 Lithographie, Galvanoformung & Abformung (LIGA)
6.3 Non-Traditional
6.3.1 Non-Traditional Type Micromachining to Lead the Market
6.3.2 Electro-Chemical Micromachining (ECM)
6.3.3 Electrical Discharge Micromachining (EDM)
6.3.4 Ultrasonic Micromachining
6.3.5 Laser Micromachining
6.4 Hybrid Micromachining
6.4.1 Subtractive Process Leads the Hybrid Micromachining Market
7 Micromachining Market, By Process
7.1 Introduction
7.2 Additive
7.2.1 Additive Process to Grow at the Highest CAGR in the Micromachining Market
7.2.2 Surface Micromachining
7.2.2.1 Chemical Vapor Deposition (CVD)
7.2.2.1.1 Low Pressure CVD
7.2.2.1.2 Plasma Enhanced CVD
7.2.2.2 Electro Deposition
7.2.2.3 Epitaxy
7.2.2.4 Physical Vapor Deposition (PVD)
7.3 Subtractive
7.3.1 Subtractive Process Projected to Lead the Market During the Forecast Period
7.3.2 Bulk Micromachining
7.3.2.1 Wet Etching
7.3.2.2 Dry Etching
7.3.3 Micro Cutting
7.3.4 Micro Drilling
7.3.5 Micro Texturing
7.3.6 Micro Ablating
7.3.7 Micro Scribing
7.3.8 Micro Engraving
7.4 Others
7.4.1 Joining
7.4.1.1 Micro Welding
7.4.2 Modifications
7.4.2.1 Micro Marking
7.4.2.2 Micro Perforating
8 Micromachining Market, By Axis
8.1 Introduction
8.2 3 Axes
8.2.1 3 Axes Micromachining to Lead the Market During the Forecast Period
8.3 4 Axes
8.3.1 Non-Traditional Micromachining Projected to Lead the Market in 4 Axes Machines During the Forecast Period
8.4 5 Axes
8.4.1 5 Axes Micromachining to Grow at the Highest CAGR During the Forecast Period
8.5 Others
9 Micromachining Market, By Industry
9.1 Introduction
9.2 Automotive
9.2.1 Non-Traditional Micromachining is Projected to Lead the Market in the Automotive Segment
9.3 Semiconductors & Electronics
9.3.1 Subtractive Process is Projected to Lead the Semiconductors & Electronics Industry
9.4 Aerospace & Defense
9.4.1 3 Axes and 5 Axes to Lead the Aerospace & Defense Market
9.5 Medical & Aesthetics
9.5.1 Europe Projected to Lead the Market in the Medical & Aesthetics Segment
9.6 Telecommunications
9.6.1 Additive Process in the Telecommunications Segment to Grow at the Highest CAGR
9.7 Power & Energy
9.7.1 The Hybrid Type is Projected to Grow at the Highest CAGR in the Power & Energy Segment
9.8 Plastics & Polymers
9.8.1 Additive Process to Grow at the Highest CAGR in the Plastics & Polymers Segment
9.9 Gems & Jewelry
9.9.1 Non-Traditional Segment to Lead in the Gems & Jewelry Industry
9.10 Others
10 Geographic Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific (APAC)
10.5 Rest of the World (RoW)
11 Competitive Landscape
11.1 Overview
11.2 Ranking Analysis of Players in the Micromachining Market
11.3 Micromachining Market (Global) Competitive Leadership Mapping, 2018
11.3.1 Introduction
11.3.1.1 Visionary Leaders
11.3.1.2 Dynamic Differentiators
11.3.1.3 Innovators
11.3.1.4 Emerging Companies
11.3.2 Competitive Leadership Mapping
11.4 Micromachining Market (Global) Competitive Scenario
11.4.1 Product Launches
11.4.2 Expansions
11.4.3 Partnerships
12 Company Profiles
12.1 Key Players
12.1.1 Coherent
12.1.1.1 Business Overview
12.1.1.2 Products Offered
12.1.1.3 Recent Developments
12.1.1.4 Analyst View
12.1.1.5 SWOT Analysis
12.1.2 Georg Fischer
12.1.3 Makino
12.1.4 Lumentum
12.1.5 Mitsubishi
12.1.6 DATRON
12.1.7 Han's Laser
12.1.8 Electro Scientific Industries
12.1.9 IPG Photonics
12.1.10 Heraeus
12.1.11 Right to Win
12.2 Other Key Players
12.2.1 OMAX
12.2.2 3D Micromac
12.2.3 Lasea
12.2.4 Posalux
12.2.5 SCANLAB
12.2.6 Tornos
12.2.7 Swisstec 3D
12.2.8 Kugler
12.2.9 GFH
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