DUBLIN--(BUSINESS WIRE)--The "Micromachining Market by Type (Traditional, Non-traditional, Hybrid), Process (Additive, Subtractive, Others), Axis (3 axes, 4 axes, 5 axes), Industry (Automotive, Aerospace & Defense), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global micromachining market size is expected to grow from USD 2.4 billion in 2020 to USD 3.3 billion by 2025, at a CAGR of 6.2%.
The growth of this market can be attributed to the increasing preference towards laser-based micromachining over the traditional process and growing demand for miniaturization of microelectronic devices. However, regulatory compliance regarding laser technology hinders market growth.
Non-traditional micromachining to capture the largest market share among different types of micromachining.
Non-traditional micromachining consists of various sub-type such as electrochemical micromachining (ECM), electrical discharge micromachining (EDM), ultrasonic micromachining, and laser micromachining. Among these types, laser micromachining is most prevalent in the market because of various reasons such as precision and efficiency. The non-traditional micromachining has some of the dominating sub-types such as laser micromachining and ultrasonic micromachining. Precision at the micro-level and applicability in various industries thus drive the market for non-traditional micromachining.
Subtractive micromachining processes are likely to hold the largest market share of the micromachining market.
Unlike additive manufacturing, subtractive manufacturing removes the thin film from the surface by various methods. Various processes include bulk micromachining, micro-cutting, micro-drilling, micro texturing, micro ablating, micro scribing, and micro engraving. The broader application of subtractive processes due to ease of use and reliability of the process fuels the market to hold the largest share.
APAC to be the fastest-growing market for micromachinings during the forecast period.
Among all regions, the market in APAC is expected to grow at the highest rate from 2020 to 2025. The growth of the market in this region is attributed to technological innovations. The world's major automakers are focusing on establishing their manufacturing plants in the APAC region, and some of them are even offering tailored electric and hybrid vehicles in this region. Since the economic liberalization in 1991, India has attracted unprecedented attention from major automakers. The APAC region is a promising and emerging market for micromachining owing to factors such as growing economies and booming demand for automobiles and manufacturing equipment.
Reasons to buy the report:
- Illustrative segmentation, analysis, and forecast for the market based on type, process, axis, industry, and region have been included to give an overall view of the micromachining market.
- Major drivers, restraints, opportunities, and challenges influencing the micromachining market growth have been detailed in this report.
- The report includes detailed information on the competitive landscape, along with key players, in-depth analysis, and revenue of key players.
Key Topics Covered:
1.1 Study Objectives
1.3 Study Scope
1.3.1 Markets Covered
1.4.1 Years Considered
2 Research Methodology
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.3 Secondary and Primary Research
2.2 Micromachining Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Micromachining Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Micromachining Market, By Type (2020-2025)
4.2 Micromachining Market, By Process (2020 and 2025)
4.3 Micromachining Market, By Axis (2020 and 2025)
4.4 Micromachining Market, By Industry (2020 and 2025)
4.5 Market, By Region (2020-2025)
5 Micromachining Market Overview
5.2 Micromachining Market Dynamics
6 Micromachining Market, By Type
6.4 Hybrid Micromachining
7 Micromachining Market, By Process
8 Micromachining Market, By Axis
8.2 3 Axes
8.3 4 Axes
8.4 5 Axes
9 Micromachining Market, By Industry
9.3 Semiconductors & Electronics
9.4 Aerospace & Defense
9.5 Medical & Aesthetics
9.7 Power & Energy
9.8 Plastics & Polymers
9.9 Gems & Jewelry
10 Geographic Analysis
10.2 North America
10.4 Asia Pacific
11 Competitive Landscape
11.2 Ranking Analysis of Players in the Micromachining Market
11.3 Micromachining Market (Global) Competitive Leadership Mapping, 2018
11.4 Micromachining Market (Global) Competitive Scenario
12 Company Profiles
12.1 Key Players
12.1.2 Georg Fischer
12.1.7 Han's Laser
12.1.8 Electro Scientific Industries
12.1.9 IPG Photonics
12.2 Other Key Players
12.2.2 3D Micromac
12.2.7 Swisstec 3D
For more information about this report visit https://www.researchandmarkets.com/r/fznoii