Traditional micromachining market is anticipated to grow at a CAGR of 5.2% during the forecast period. The global traditional micromachining market growth is backed by the increasing adoption of micromachining in industries such as automotive, healthcare, consumer electronics and others for the development of micro-components. The increasing advancements in the production technologies have resulted in a reduction in the time required for the manufacturing of components, which has further boosted the market growth. The rapidly evolving technology environment in manufacturing and process industries globally has driven manufacturing companies to invest in advanced manufacturing technologies that can assist in achieving high operating efficiencies and thus allow businesses to fulfil the challenging needs of the growing market. Moreover, the integration of these systems with computer-aided manufacturing (CAM) has reduced the time required for the manufacturing of workpieces and enabled hassle-free production of micro components, thereby driving market growth.
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The global traditional micromachining market is segmented based on process, axis, material, and end-user industries. Based on the process, the market is segmented into additive, subtractive, and others. Furthermore, based on the axis, the market is segregated into 3-axes, 4-axes, 5-axes, and others. The subtractive segment is likely to be the fastest growing during the forecast period. This can be attributed to the cost and time advantage and extensive usage in mass production. Among these, the 3-axis segment held the largest market share, and it is further projected to maintain its dominance during the forecast period. High adoption of 3-axis traditional micromachining for lens arrays and other non-rotationally symmetric free-form optics fabrication is the primary element driving the segment growth. Likewise, based on material, the market is divided into metals and alloys, polymers, glass and quartz, ceramics, and others. Whereas, based on end-use industries, the market is classified into automotive, semiconductor, aerospace and defense, medical and aesthetics, telecommunications, power and energy, plastics and polymers, and others.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Traditional Micromachining Market Report by Segment
- Global Traditional Micromachining Market by Process
o Additive
o Subtractive
o Others
- Global Traditional Micromachining Market by Axis
o 3-Axes
o 4-Axes
o 5-Axes
o Others
- Global Traditional Micromachining Market by End-use Industries
o Automotive
o Semiconductor
o Aerospace and Defense
o Medical and Aesthetics
o Telecommunications
o Power and Energy
o Plastics and Polymers
o Others
- Global Traditional Micromachining Market by Material
o Metals and Alloys
o Polymers
o Glass and Quartz
o Ceramics
o Others
Global Traditional Micromachining Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global traditional micromachining market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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