The
global micromachining market size is expected to reach
USD 4.35 billion by 2027, registering a CAGR of 7.3% from 2020 to 2027,
according to a new study conducted by Grand View Research, Inc. The increased
adoption of these systems in the development of miniaturized components for
various industries and sectors such as oil and gas, manufacturing, and mining
is a major factor driving the market growth. The increased demand for various
sensors including motion sensors, position sensors, and displacements sensors
in wearable devices such as electronic skin and smart watches is
expected to further drive the growth. In addition, there has been a significant
rise in the adoption of these systems in the fabrication automotive sensors
such as parking sensors, collision avoidance sensors, and airbag sensors.
One
of the trends in sensor technologies is the development of
Micro-electromechanical Systems (MEMS), which can lead to very small
architectures ranging between 20 micrometers and 1 millimeter. Despite being
very minute, these systems can sense acceleration, speed, and shocks and trigger
corrective actions. Micromachining has enabled the development of micro-sensors
to gather data and micro-actuators to convert energy into motion on the same
substrate. The rise in demand for multi-axis Computer Numerical Control (CNC)
micromachining systems is expected to drive the market growth over the forecast
period.
In
recent years, there has been a significant enhancement in the performance of
micromachining equipment owing to the rising usage of proximity sensors for
measuring the errors in these equipment driving the market growth.Initiatives
takenby variousgovernments including China and India, for activities such as
innovation promotion, and regulations to boost the industrialization bode well
for the market growth. The rapidly changing technology landscape in the
manufacturing and process industries worldwide has also been encouraging the
manufacturing companies to invest in advanced manufacturing techniques.
Full Research Report On Micromachining Market Visit Here:
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Micromachining
Market Report Highlights
- Non-traditional segment is
anticipated to grow significantly on account of the increasing adoption of
laser micromachining in drilling high aspect ratio micro holes in
components used in industries such as oil and gas and power
- Growing usage of additive
process for surface micromachining of Silicon Carbide (SiC) semiconductor
devices to produce structural and sacrificial layers bodes well for the
growth of additive segment
- The 5-axis segment is
projected to expand at the highest CAGR on account of increase in the
number of companies providing 5-axis micromachining services such as Owens
Industries, Inc.; DEYUCNC, Inc.; and GFH GmbH
- Micromachining is
increasingly being adopted in the fabrication of micro structured medical
devices such as tissue engineering scaffolds and microneedles. As a
result, the healthcare segment is projected to grow at the highest CAGR.
- The Asia Pacific region is
expected grow significantly over the forecast period owing to the
increasing adoption for multi-axis laser micromachining systems in
automotive sector.
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Micromachining
Market Segmentation
Grand View Research has segmented
the global micromachining market based on type, process, axis, end use, and
region:
Micromachining Type
Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
- Traditional
- Non-traditional
- Electro Discharge Machining
(EDM)
- Electrochemical Machining
(ECM)
- Laser
- Hybrid
Micromachining
Process Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
- Additive
- Subtractive
- Others
Micromachining Axis
Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
- 3-axis
- 4-axis
- 5-axis
Micromachining
End-use Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
- Automotive
- Semiconductors &
Electronics
- Aerospace & Defense
- Healthcare
- Telecommunications
- Power & Energy
- Plastics & Polymers
- Others
Micromachining
Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
List of Key Players
of Micromachining Market
- AMADA WELD TECH Co., Ltd.
- Coherent, Inc.
- Electro Scientific
Industries
- Georg Fischer Ltd.
- Han’s Laser Process Industry
Group Co., Ltd.
- IPG Photonics Corporation
- Makino
- MITSUBISHI HEAVY INDUSTRIES,
LTD.
- OpTek Ltd.
- Oxford Lasers
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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