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Micromachining Market Recent Trends, Development,Growth & Forecast 2020-2030

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Micromachining Market Recent Trends, Development,Growth & Forecast 2020-2030

July 07
00:25 2021
Micromachining Market Recent Trends, Development,Growth & Forecast 2020-2030
The growth of the global micromachining market is mainly attributed to the dramatic rise in adoption of mechanical micro tools in production of micro components in various industries.

The manufacturing industry is witnessing an exponential rise of the Industry 4.0 trend, and a mounting number of industry players aiming to bolster the digital transformation of their production capabilities. Consequently, micromachining or mechanical micromachining has gained immense popularity as a leading manufacturing technology that transforms the use of mechanical micro tools into the technique of single process machining.

The growth of the global micromachining market is mainly attributed to the dramatic rise in adoption of mechanical micro tools in production of micro components in various industries. The range of end-use industries is constantly widening in the micromachining market, and includes automotive, healthcare, consumer electronics, and aerospace industries. Leading players in the micromachining market can be seen leveraging the recent advancements in various production technologies to offer versatile product features that improves the efficiency and productivity of the entire process.

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New Growth Avenues in Semiconductor and Electronics Industry Boost Market Growth

Ongoing technological innovations and significantly high demand for consumer electronics are among the major factors that are driving the semiconductor and electronics industry. The space is riding the wave of miniaturization, and this opens up a new window of opportunities for players in the micromachining market. Miniaturization does not only call for the use of advanced technologies but also creates a demand for tools that support this kind of manufacturing. This is the leading factor that employs micromachining in this ever-growing industry.

Leading players in the micromachining market are leveraging the growth prospects of the semiconductor and electronics industry and diversifying their offerings to cater to the industry-specific requirements. For instance, manufacturers are offering laser micromachining tools that can support precise machining and production of miniature components of next-generation consumer electronics products. Furthermore, the integration of new technologies such as artificial intelligence and internet of things (IoT) is also expected to widen the scope for innovation in the micromachining market in the coming years.

Multiple Fabrication Steps Involved in Micromachining make Systems Complex and Expensive

Micromachining involves various mechanical components being fabricated very close to each other and this can lead to stiction, making separation of those components extremely difficult. Also, the process is also known for generating only low aspect ratio devices, and this is why it is only suitable for gear drives and comb drives. It involved higher fabrication steps, making the entire process of micromachining extremely complex and expensive. Furthermore, integration of such complex technologies leads to repetitive deposition of thin layers on wafers, limiting its implementation in large structures.

Implementation of 5-axes Micromachining Processes to Pick Pace

5-axis micromachining involves the use of cutting tools that are relatively shorter than the ones used in 3- and 4-axes micromachining. The biggest advantage of using 5-axes micromachining is that it enables end users to reach faster cutting speeds and eventually mitigates vibrations in those tools. This does not only improve productivity but also reduces the possibility of imperfections and flaws in the material.

A mounting number of end-use industries including automotive, medical devices, military & defense, and semiconductor and electronics industries are resorting to the use of 5-axes micromachining to attain accuracy and precision in manufacturing. Furthermore, end users are also aiming to leverage the fact that the 5th axis in micromachining adds to the potential of wide-ranging applications of machineries. This is expected to give rise to this trend in the micromachining market in the coming future.

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North America Proves Lucrative; New Opportunities in APAC Attract Market Players

North America is currently the leading region in the global micromachining market, mainly attributed to the strong presence of market leaders in the United States of America. Leading players have a wide network of distributors and vendors in the country, which ultimately leads to the profitability and opportunities in the market.

On the other hand, rapid growth and developments of end-use industries in the Asia Pacific region also change various dynamics of the global micromachining market. Large presence of manufacturers of automotive components in the region is mainly contributing to the growth of the APAC market for micromachining. Consequently, the APAC market is expected to account for nearly one-third revenue share in the global micromachining market by the end of this decade.

Competitive Landscape

Key players in the micromachining market include Makino Milling Machine Co., Ltd., Georg Fischer Ltd., Mitsubishi Heavy Industries, Ltd, Lumentum Holdings Inc., Coherent, Inc., Han’s Laser Technology Industry Group Co., Ltd, DATRON Dynamics, Inc., IPG Photonics Corporation, Electro Scientific Industries, Inc., and Heraeus Holding GmbH, among others. Leading manufacturers have adopted strategies to expand their product as well as technology portfolio by expanding their manufacturing capabilities. Many are also resorting to merger & acquisition strategies to diversify their portfolios in order to meet the specific needs of a wide range of end-use industries.

Segmentation

Based on type, the micromachining market can be segmented as:

  • Traditional
  • Non-traditional
  • Hybrid

Based on axis, the micromachining market can be segmented as:

  • 3-axes
  • 4-axes
  • 5-axes
  • Others

Based on process, the micromachining market can be segmented as:

  • Subtractive
  • Additive
  • Others

Based on end-use industries, the micromachining market can be segmented as:

  • Semiconductor & Electronics
  • Telecommunications
  • Automotive
  • Medical & Aesthetics
  • Aerospace & Defense
  • Plastics & Polymers
  • Power & Energy
  • Gems & Jewelry
  • Others (Glass making, Machine tools & Manufacturing, Watchmaking)

This study provides a particularized anatomy according to the L.E.A.P mechanism.

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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This report is the key to questions such as:

  • What was the market size in 2020?

According to our analysis, the global micromachining market reached a valuation of around US$ 2.5 billion, and the positive growth of the market was mainly attributed to the rising end user inclination towards laser-based micromachining systems. Our analysts also opine that the market is likely to witness healthy growth at a CAGR of over 6% during 2020 to 2030.

  • Which regional market will create profitable opportunities for manufacturers?

North America is expected to emerge as a lucrative market for micromachining as a majority of global players have a strong presence in the region. Our analysts have found that the leading players that have consolidated their position in North America include General Electric, Coherent, General Motors, Ford, and Rockwell Automation.

  • What is the successful strategy adoption by market leaders?

Our analysis highlights a major trend of manufacturers’ inclination towards the diversification of technology-focused, laser-based micromachining product portfolios. Manufacturers are also moving towards expanding their global networks with vendors and distributors to diversify their revenue streams in the coming years.

  • What will be the market valuation by 2030?

High-quality metal cutting machines will continue to witness high demand across a wide range of industrial applications, and this will continue to highlight the importance of micromachining in the coming years. Our analysts projections point towards positive growth prospects of the micromachining market with the estimates of the market to be valued at over US$ 4 billion by 2030.

About TMR Research

TMR Research is a premier provider of customized market research and consulting services to busi-ness entities keen on succeeding in today’s supercharged economic climate. Armed with an experi-enced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

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