Micromachining Market Outlook - 2027

Micromachining is the technique carried out for fabricating 3D and 2D structures on micrometer scale. Earlier watch parts were considered to be micro components, however, owing technological advancements, micro components were introduced in various fields like electronics and biomedical implants. The increasing demand for micro, value for money and convenient products has led to the increase in micromachining applications such as welding, cutting, 3D machining, and micro-milling in industries such as semiconductors & electronics, automotive, aerospace, and medical. Innovations in these industries pave way for better
micromachining. 

The global micromachining market is segmented on the basis of Type, Process, Axis, Application, End User, and Region. Based on Type, the micromachining market is divided into Traditional, Non-Traditional, and Hybrid, and others. On the basis of Process, the market is categorized into Additive, Subtractive, and Others. On the basis of Axis into 3 Axis, 4 Axis, 5 Axis, and Others On the basis of End User Medical, Semiconductors & Electronics, Aerospace & Defense, Telecommunications, Automotive, and Others Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global micromachining industry include Makino Milling Machine Co. Ltd., Coherent Inc., Mitsubishi Heavy Industries, Ltd, Georg Fischer Ltd., Lumentum Holdings Inc., DATRON Dynamics Inc., Electro Scientific Industries Inc., Heraeus Holding GmbH, Han’s Laser Technology Industry Group co. Ltd., IPG Photonics Corporation, and Others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market. 

COVID-19 scenario Analysis: 

• Global micromachining market size has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for AC servo systems. 
• Global factories have struggled to manufacture, integrate and assemble new technologies as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules and regulations, which, in turn, has disrupted the global supply chains.
• The market would be less impacted than other markets for non-essential goods and services as these systems are essential part of automation. Moreover, the world would be shifting more toward automation so that no other pandemic can disrupt production.
• This COVID-19 crisis is expected to provide opportunities for companies to invest, implement, and research in technologies, which involve less human touch. For instance, combination of AI and automation.
• The impact of COVID-19 on this micromachining market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase as various growing industries.

Top impacting factors: Micromachining Market Trends, Scenario Analysis, Drivers and Impact Analysis

Increase in trends of miniaturization of products in semiconductor and electronics industries in which micromachining is important for fabrication of micro parts propels the market. In addition, faster data rates, support for multiple wireless technologies, and longer battery life of products also drive the micromachining market growth, which is helping IC manufacturers to look beyond conventional manufacturing techniques. Thus, use of electro chemical machining and laser machining has increased for providing precise machining and fabrication of micro components. Moreover, adoption of AI, integration of IOT, AR, VR, and 5G industries are expected to create positive impact on the market.

New product launches to flourish the micromachining market

ExactCut, the micromachining equipment was launched by coherent in 2019. It is designed for materials processing by combining intelligence, integration and interconnectivity of equipment’s. It is used for précised cutting of sapphire, alloys, metals, ceramics and PCD’s. The processes are pre-programmed for the desired application in order to reduce qualification time and integration. It is also able to deliver high flexibility for various job shops. Thus, this product flourished the market.

Surge in usage in automotive industry

There is surge in demand for micromachining in automotive industry as currently, it is widely used in this industry. It is used in fuel injection technology, for example-fuel injector nozzles. Milegae of the vehicles is improved by using the fuel injection technology. It also supports the vehicle in consuming less fuel.

The EDM process is used for micromachining fuel injector nozzles. Requirement for seamless welding and bonding in the automotive industry for various vehicle components has led to the adoption of laser technology in micromachining in this industry. Moreover, the electronic components used in the electric vehicles is expected to drive the market further.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global micromachining market forecast along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global micromachining market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global micromachining industry growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global micromachining market analysis based on competitive intensity and how the competition will take shape in coming years. 

Market scope and structure analysis:

Questions answered in the Micromachining Market research report:

• Who are the leading market players active in the micromachining market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the micromachining market?
• What are the projections for the future that would help in taking further strategic steps?