Global Micromachining Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Micromachining Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global micromachining market has been segmented on the basis of type, process, axis, end-use, as well as regions and countries.
Micromachining is a specific technique applied to micro-scale parts. It usually refers to the fabrication of micromechanical structures with the aid of etching techniques to remove part of the substrate or a thin film.
The increasing adoption of processes used for the fabrication of micro-components used across an array of industries such as healthcare, automotive, consumer electronics, aerospace, healthcare, etc. Production technology innovations have led to the reduction in time needed to manufacture components, and this is expected to significantly contribute to revenue growth in the near future.
Increased funding by private and government authorities towards the development of improved micromachining systems is also expected to positively influence the revenue of this market. Several initiatives being rolled-out to raise consumer awareness are slated to indirectly accelerate revenue growth over the next 10 years. However, irrespective of the surge in demand for these systems, the high costs associated with them may act as a restraining factors for future revenue growth.
Segmentation of the global micromachining market is as follows:
In terms of axis, the 3-axis segment accounted for the majority revenue shares of the global micromachining market in 2019, due to the increasing focus by key manufacturers on the development of 3-axis devices. The 5-axis segment is expected to expand at the highest rate of revenue growth of the global market, owing to its higher cutting speed.
With respect to type, the non-traditional segment accounted for the majority revenue share of the global market in the 2019, owing to the exhaustive use of Electrochemical Machining (ECM), laser, and Electro Discharge Machining technologies. The traditional segment is anticipated to expand at a considerable rate of revenue growth over the next 10 years, as it has been found to be a more rapid and versatile method of material removal and the creation of microstructures.
On the basis of process, the subtractive segment accounted for the highest number of revenue shares in 2019, due to its extensive use in mass productions models, as well as the time and cost advantage. Concerning the end-use aspect of the market, the automotive segment accounted for the majority revenue shares, owing to the increasing demand for the tech to machine fuel injector nozzles used in vehicles.
Regional Segmentation and Analysis:
The Asia Pacific accounted for the majority revenue shares of the global micromachining market owing to the large presence of automotive component manufacturers in this region. Europe, also has quite a few countries that are prominent automobile manufacturers, as such, is anticipated to register the highest rate of revenue growth of the global micromachining market in the foreseeable future.
Segmentation of the Global Micromachining Market:
Segmentation by Type:
- Electro Discharge Machining (EDM)
- Electrochemical Machining (ECM)
Segmentation by Process:
Segmentation by Axis:
Segmentation by End-Use:
- Semiconductors & Electronics
- Aerospace & Defense
- Power & Energy
- Plastics & Polymers
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- AMADA WELD TECH Co. Ltd.
- Coherent Inc.
- Electro Scientific Industries
- Georg Fischer Ltd.
- Han’s Laser Process Industry Group Co. Ltd.
- IPG Photonics Corporation
- MITSUBISHI HEAVY INDUSTRIES LTD.
- OpTek Ltd.
- Oxford Lasers
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