Micromachining Market Size, Growth, Analysis and Forecasts 2027 - 3D-Micromac AG, 4JET microtech, KJ Laser Micromachining, OpTek, PhotoMachining, Amada Miyachi

The global micromachining market is estimated to account for US$ 2.86 Bn in 2018 and is expected to grow at a CAGR of 7.6% during the forecast period 2019 – 2027, to account for US$ 5.48 Bn by 2027. With rising technological advancements in the consumer electronics industry and fast-changing consumer preferences, the market landscape of global consumer electronics is changing fast. The demand for devices with advanced features is witnessing immense growth from both developed as well as developing countries. With rising disposable income levels and falling prices of technology products, the penetration of electronic devices such as smartphones, tablets, washing machines, refrigerators, is increasing at an unprecedented rate.

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The key micromachining market players profiled in this research study include 3D-Micromac AG, 4JET microtech GmbH, IPG Photonics Corporation, KJ Laser Micromachining, OpTek Ltd., Oxford Lasers Ltd, PhotoMachining, Inc., Potomac Laser, Reith Laser B.V., and Amada Miyachi.

The fast growth of the micromachining market in the APAC region is attributed to the huge presence of various manufacturing companies in countries such as China, Japan, and South Korea. The growing industrialization, fast population growth, and positive economic outlook are some of the major factors that are anticipated to drive the growth of the micromachining market in this region. Developing countries such as China and India are expected to offer ample growth opportunities for the micromachining market players during the forecast period. In the global micromachining market, China and Japan contributed to more than half of the overall share of the market in APAC.

Increasing demand for miniature components, support for multiple wireless technologies, faster data rates, and longer battery life are some of the demands that are pushing Integrated Circuits (ICs) manufacturers to look beyond the traditional manufacturing techniques. The footprint of electronic devices and components is decreasing in an unprecedented way, however, the demand for features and performance is also growing at a relative rate. Hence, to meet the demands of the fast-changing semiconductor and electronics industry, manufacturers are adopting advanced manufacturing techniques such as laser micromachining for precise machining and fabrication of micro components.

The present century is characterized by fierce competition in all major industry verticals. The manufacturers of various products are facing strong competition with their competitors on account of costs, quality, technology, service, and time-to-market. Thus, to maintain market position and to achieve sustainable development, manufacturers are increasingly investing in advanced manufacturing technologies and processes. Hence, with a positive global economic outlook and increasing investments in manufacturing and process industries, the demand for various types of micromachining processes is expected to accelerate over the forecast period of 2019 to 2027. Some of the top contributors to the global micromachining market include countries such as the US, Germany, the UK, China, and Japan.

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The report segments the global micromachining market as follows:

Global Micromachining Market – By Process

Photolithography
Laser Machining
Micro-EDM
Micromechanical Machining
Global Micromachining Market – By Raw Material

Metals & Alloys
Polymers
Glass & Quartz
Ceramics
Global Micromachining Market – By Application

Aerospace & Defense
Medical
Telecommunications
Semiconductor & Electronics
Automotive
Industrial
Others

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