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Pulished Date April, 2021
ID: 11427
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Micromachining Market segmentation by Type (traditional, non-traditional, hybrid) By Process (additive, subtractive, others) By Axis (3 axes, four axes, five axes, others) By Industry (automotive, semiconductor and electronics, aerospace and defense, medical and aesthetics, telecommunications, power and energy, plastics and polymers, gems and jewelry, others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 11427
Pages: 175

Micromachining Market Size, Trends & Growth (2021 - 2026)

The increasing applications of micromachining in very complex structures create opportunities for manufacturers. The integration of these systems with computer-aided manufacturing (CAM) has reduced the time required to manufacture parts and has enabled micromachining's smooth production. The evolution of machine learning technology and the Internet of Things (IoT) has led to the introduction of new functions, such as an application that transmits a system's status to operators/supervisors at their facilities, smartphones, or PCs.

The market is primarily driven by increased demand for miniaturized electronic components and micro-sized medical implants, reducing the overall space, weight, and cost of the final product. Increasing demand for microscale products from industries such as automotive, telecommunications, energy, and aerospace, among some, will further drive the growth of the micromachining market. Additionally, several manufacturing companies such as Johnson Matthey and Tekniker have shown a preference for laser-based materials over traditional micromachining, which bodes well for market growth.

Recent Developments:

  • Lumentum Holdings Inc. ("Lumentum") declared its quality at four career expos in Europe and North America throughout the following three months. Lumentum will grandstand many progressed items for the optical correspondences, cloud, 3D detecting, laser micromachining, and full-scale material preparing markets.

Drivers and Restraints of Micromachining Market:

Drivers: 

The increasing demand for minimally invasive surgery, intravenous procedures, and the like have driven the demand for miniature devices that are delivered to the body during medical procedures such as electrophysiology, stenting, embolic protection, and the like. This attribute is constantly leveling up the demand for the micromachining market. The demand for less painful and quick-healing surgical treatments will increase the demand for micro-sized surgical devices and implants. Hence, it leads to the application of micromachining in the healthcare segment. To meet the demand for high precision, aircraft original equipment manufacturers are increasingly implementing micromachining equipment to develop various components such as sensors, actuators, motors, navigation systems, head-up displays, etc. The aforementioned factors are accelerating the growth rate of the micromachining market. 

Restraints:

Although there has been increased demand for these systems from various industries, the high cost of these systems is expected to have a negative impact on micromachining market growth. The high cost can be attributed to the complex Process of repeatedly depositing thin films on the wafer and the higher manufacturing steps. However, the use of the fiber laser marker for micromachining has significantly reduced micromachining costs. The main advantage of this approach is that fiber laser markers are less expensive than standard equipment.

Micromachining Market Segmentation:

By Type:

  • Traditional 
  • Non-traditional 
  • Hybrid 

Laser micromachining is expected to grow at a CAGR of 5.16% over the forecast period. Laser micromachining is a widely used method for micromachining, with important applications in subtractive manufacturing for the formation of MEMS. Its additional features include remote diagnosis and predictive maintenance. These developments will encourage other players to expand their product portfolio and create new sources of income.

By Process:

  • Additive 
  • Subtractive 
  • Others 

By Axis:

  • 3-axes 
  • 4-axes 
  • 5-axes 
  • Others 

The 3-axis segment dominated the market with a share of over 40% in 2019. The increasing adoption of 3-axis systems in the manufacture of lens arrays and other non-rotationally symmetric free-form optics is helping to stimulate demand for the segment. In addition, the growing attention of the main market players in the development of 3-axis micro-milling machines has further fueled the growth of the segment. The economic advantages of 3-axis machines over 4- and 5-axis machines have driven the growth of the segment.

By Industry:

  • Automotive 
  • Semiconductor & Electronics 
  • Aerospace & Defense 
  • Medical & Aesthetics 
  • Telecommunications 
  • Power & Energy 
  • Plastics & Polymers 
  • Gems & Jewelry 
  • Others (Machine tools & Manufacturing, Watchmaking, Glass) 

There is a growing demand for micro-industrial products in various industries such as healthcare, automotive, semiconductors, and electronics, among others. The expanding entrance of clinical gadgets in non-industrial nations and the expanding pace of examination worldwide of dissolvable and non-solvent clinical micro-implants to meet practical security medicines is required to speed up the development of the market. The medical section is relied upon to overwhelm the micromachining market by 2024, with a CAGR of 6.3% during the gauge time frame 2019-2024. Companies operating in these sectors strategically improve their product portfolio. In 2016, GF Machining Solutions acquired Microlution Inc., a leading developer of micromachining products that integrates milling and laser technologies, expanding its product portfolio globally in the aerospace and medical sectors.

Micromachining Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada

North America accounted for a significant portion of the global micromachining market in 2019. The region (for this study) includes the United States, Canada, and Mexico. Some of the largest companies in North America include General Motors, Ford, General Electric, Rockwell Automation, and Coherent, among others, who make extensive use of micromachined products. The presence of all large companies, strong industrial demand and stable supply are stimulating the market in North America.

  1. Europe
    1. Norway
    2. Germany
    3. Sweden
  2. Asia Pacific
    1. China
    2. India
    3. Japan
  3. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  4. Middle East and Africa

a. Middle East

b. Africa

Key Players of Market:

Major players operating in the global micromachining market are Coherent, Inc. (US), Georg Fischer Ltd. (Switzerland), Makino Milling Machine Co., Ltd. (Japan), Lumentum Holdings Inc. (US), Mitsubishi Heavy Industries, Ltd (Japan), DATRON Dynamics, Inc. (US), Han’s Laser Technology Industry Group Co., Ltd (China), Electro Scientific Industries, Inc. (US), IPG Photonics Corporation (US), and Heraeus Holding GmbH (Germany), among others.

IMPACT OF COVID-19 ON MICROMACHINING MARKET:

COVID-19 has forced several governments around the world to adopt strict policies to restrict the movement of people. One of these policies was the activation of the "Circuit Breaker" by the Singapore government in April 2020, which resulted in the closure of workplaces and schools. These government policies have impacted the production capabilities of some of the main players operating in the market, such as Makino and Georg Fischer, Ltd. However, these players had submitted exemption requests to avoid the impact of blockages on their supply chain. For example, Makino Asia submitted a business suspension waiver request for approval. This allowed the company to resume manufacturing.

The pandemic has affected the revenues of other players, such as IPG Photonics Corporation and Electro Scientific Industries that operate in the micromachining market. For example, IPG Photonics Corporation sales for the March quarter fell more than 20% year-over-year to $ 249 million. However, the company's production capacity has not been significantly hampered in some countries, including Germany and Russia. For example, the company's activities were not affected at all in Germany. While in Russia the production stopped only for a week. Since micromachining is used in the manufacture of respiratory assist devices such as ventilators, some manufacturers have reported an increase in demand for their products. For example, in May 2020, TORNOS SA machines were widely used by Hamilton Medical, which manufactures respiratory assist devices. Hamilton Medical is focused on increasing its production capacity by 50% using machines from TORNOS SA.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Micromachining Market, By Type               

                    6.1.1 traditional      

                    6.1.2 non-traditional        

                    6.1.3 hybrid 

                    6.1.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.5 Y-o-Y Growth Rate Analysis         

                    6.1.6 Market Attractiveness Index         

          6.2 Micromachining Market, By Process           

                    6.2.1 additive         

                    6.2.2 subtractive     

                    6.2.3 others 

                    6.2.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

          6.3 Micromachining Market, By Axis                

                    6.3.1 3 axes 

                    6.3.2 four axes       

                    6.3.3 five axes       

                    6.3.4 others 

                    6.3.5 Market Size Estimations & Forecasts (2021-2026)        

                    6.3.6 Y-o-Y Growth Rate Analysis         

                    6.3.7 Market Attractiveness Index         

          6.4 Micromachining Market, By Industry          

                    6.4.1 automotive    

                    6.4.2 semiconductor and electronics     

                    6.4.3 aerospace and defense       

                    6.4.4 medical and aesthetics       

                    6.4.5 telecommunications 

                    6.4.6 power and energy    

                    6.4.7 plastics and polymers         

                    6.4.8 gems and jewelry     

                    6.4.9 Market Size Estimations & Forecasts (2021-2026)        

                    6.4.10 Y-o-Y Growth Rate Analysis       

                    6.4.11 Market Attractiveness Index       

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Type         

                    7.2.3 By Process     

                    7.2.4 By Axis

                    7.2.5 By Industry    

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Process     

                    7.3.4 By Axis

                    7.3.5 By Industry    

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Process     

                    7.4.4 By Axis

                    7.4.5 By Industry    

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Process     

                    7.5.4 By Axis

                    7.5.5 By Industry    

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Type         

                    7.6.3 By Process     

                    7.6.4 By Axis

                    7.6.5 By Industry    

8. Key Player Analysis                           

          8.1 Coherent, Inc. (US)                

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Georg Fischer Ltd. (Switzerland)                 

          8.3 Makino Milling Machine Co., Ltd. (Japan)              

          8.4 Lumentum Holdings Inc. (US)          

          8.5 Mitsubishi Heavy Industries, Ltd (Japan)               

          8.6 DATRON Dynamics, Inc. (US)           

          8.7 Han’s Laser Technology Industry Group Co., Ltd (China)           

          8.8 Electro Scientific Industries, Inc. (US)         

          8.9 IPG Photonics Corporation (US)                  

          8.10 Heraeus Holding GmbH (Germany)           

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Micromachining Market By Region, From 2021-2026 ( USD Billion )
  2. Global Micromachining Market By Type, From 2021-2026 ( USD Billion )
  3. Global traditional Market By Region, From 2021-2026 ( USD Billion )
  4. Global non-traditional Market By Region, From 2021-2026 ( USD Billion )
  5. Global hybrid Market By Region, From 2021-2026 ( USD Billion )
  6. Global Micromachining Market By Process, From 2021-2026 ( USD Billion )
  7. Global additive Market By Region, From 2021-2026 ( USD Billion )
  8. Global subtractive Market By Region, From 2021-2026 ( USD Billion )
  9. Global others Market By Region, From 2021-2026 ( USD Billion )
  10. Global Micromachining Market By Axis, From 2021-2026 ( USD Billion )
  11. Global 3 axes Market By Region, From 2021-2026 ( USD Billion )
  12. Global four axes Market By Region, From 2021-2026 ( USD Billion )
  13. Global five axes Market By Region, From 2021-2026 ( USD Billion )
  14. Global others Market By Region, From 2021-2026 ( USD Billion )
  15. Global Micromachining Market By Industry, From 2021-2026 ( USD Billion )
  16. Global automotive Market By Region, From 2021-2026 ( USD Billion )
  17. Global semiconductor and electronics Market By Region, From 2021-2026 ( USD Billion )
  18. Global aerospace and defense Market By Region, From 2021-2026 ( USD Billion )
  19. Global medical and aesthetics Market By Region, From 2021-2026 ( USD Billion )
  20. Global telecommunications Market By Region, From 2021-2026 ( USD Billion )
  21. Global power and energy Market By Region, From 2021-2026 ( USD Billion )
  22. Global plastics and polymers Market By Region, From 2021-2026 ( USD Billion )
  23. Global gems and jewelry Market By Region, From 2021-2026 ( USD Billion )

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