Dublin, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The "Micromachining Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global micromachining market is expected to grow from $2.54 billion in 2021 to $2.75 billion in 2022 at a compound annual growth rate (CAGR) of 8.44%. The micromachining market is expected to grow to $3.66 billion in 2026 at a compound annual growth rate (CAGR) of 7.39%.
The main types of micromachinings include traditional, non-traditional, and hybrid. The hybrid refers to micromachining systems that run with the integration of multiple micro-machining processes to improve machinability, geometrical precision, tool life, surface integrity, machining rate, and process forces.
The main types of hybrid micromachining solutions include electric discharge machining, electrochemical machining, and others. The types of manufacturing processes used in micromachining include additive, subtractive, and others. These systems are differentiated by axis into 3-axis, 4-axis, 5-axis, and others. These systems are used in automotive, semiconductor & electronics, aerospace & defence, healthcare, telecommunications, power & energy, plastics & polymers, gems & jewelry, and others.
Asia-Pacific was the largest region in the micromachining market in 2021. The regions covered in the micromachining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The robust growth of the semiconductor and electronics sector is expected to propel the growth of the micromachining market. Due to continual technological developments and investments in research and development operations, the worldwide semiconductor and electronics sector has been growing rapidly in recent years. Artificial intelligence (AI), 5G, the Internet of Things (IoT), and autonomous cars are all pushing the boundaries and presenting a significant growth opportunity globally for the semiconductor and electronics business.
Additionally, micromachining equipment is widely used in the manufacturing of miniature components with intricate geometry in the semiconductor industry. According to a study by Deloitte, the global semiconductor chip industry is expected to reach about US$600 billion in 2022. Due to the growth in this sector, the demand for miniature components used in this sector is also increasing, which will lead to drive the micromachining market.
Technology advancement is a key trend in the micromachining market. Micro components are being used in extremely complicated structures. Manufacturers utilize this opportunity by bringing technological advancements in micromachinings such as micro-cutting, micro-EDM, laser micro-machining, FIB machining, and others.
The companies are investing in the development of innovative lasers to increase the operational capabilities of micromachining equipment over sensitive and high strength materials such as medical devices, polymers, metals and others. For instance, MKS Instruments, Inc., a USA-based provider of instruments, systems, subsystems, and process control solutions launched Specta-Physics Spirit 1030-140 an industrial femtosecond hybrid laser with the potential to deliver power greater than 140 W, and more than 600 micro-Joules of pulse energy. The laser is the ideal solution for micromachining of polymers, thin metals, polycrystalline diamonds, and others.
In August 2020, Lasea group, a Switzerland-based producer of high-precision micro-machining laser solutions, acquired Optec Layer systems for an undisclosed amount. This acquisition will enable the Lasea Group to provide a broader range of products to its customers and expand in the market. Optec Layer systems, a San Diego-based company involved in designing, development, manufacturing, and distribution of laser micro-machining machines for the medical and electronics sectors.
The countries covered in the micromachining market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Key Topics Covered:
1. Executive Summary
2. Micromachining Market Characteristics
3. Micromachining Market Trends And Strategies
4. Impact Of COVID-19 On Micromachining
5. Micromachining Market Size And Growth
5.1. Global Micromachining Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Micromachining Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Micromachining Market Segmentation
6.1. Global Micromachining Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Traditional
- Non-traditional
- Hybrid
6.2. Global Micromachining Market, Segmentation By Process, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Additive
- Subtractive
- Others
6.3. Global Micromachining Market, Segmentation By Axis, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- 3-axis
- 4-axis
- 5-axis
- Others
6.4. Global Micromachining Market, Segmentation By Industry, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Automotive
- Semiconductors & Electronics
- Aerospace & Defense
- Healthcare
- Telecommunications
- Power & Energy
- Plastics & Polymers
- Gems & Jewelry
- Others
7. Micromachining Market Regional And Country Analysis
7.1. Global Micromachining Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Micromachining Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/zhg8wl
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