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.
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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.
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
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