The global traditional micromachining market is anticipated to grow at a CAGR of 5.2% during the forecast period. The increased use of traditional micromachining systems in the production of miniaturized components for various industries and sectors, such as oil and gas, manufacturing and mining, is a key driver of market growth. The rising demand for numerous sensors, including motion sensors, location sensors and displacement sensors, in wearable devices such as electronic skin and smartwatches is expected to further drive the growth of the market. In addition, there is a major growth in the use of these technologies in the manufacture of automotive sensors such as positioning sensors. The high cost of these systems is expected to negatively impact market growth.
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Moreover, the market growth is also driven by the presence of prominent players operating in the market. Players such as G Georg Fischer Ltd.; IPG Photonics Corp.; and AMADA WELD TECH Co., Ltd. are focusing on strategies such as mergers, acquisitions, business expansion, and partnerships to bring new growth opportunities to the market. For instance, in April 2022, Lumentum Holdings Inc. expanded its product offering by adding high-precision ultrafast industrial lasers-the FemtoBlade. The FemtoBlade laser employs a modular design that provides increased flexibility and high power at high repetition rates which will enable faster processing and improved throughput for micromachining applications, including OLED, PCB, ceramic and glass cutting.
Further, in March 2021, II-VI Inc. opened a new applications laboratory in Suzhou, China, to support the growing industrial laser market in the region. The new applications laboratory will therefore provide close customer support on laser materials processing, including practical hands-on training, in-depth applications consulting, and detailed feasibility studies.
Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Process
- By Axis
- By Material
- By End-Use Industries
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Han’s Laser Technology Industry Group Co., Ltd. Coherent, Inc., Makino Milling Machine Co., Ltd., Georg Fischer Ltd., and IPG Photonics Corp.
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Traditional Micromachining Market Report by Segment
By Process
- Additive
- Subtractive
- Others
By Axis
- 3-Axes
- 4-Axes
- 5-Axes
- Others
By End-use Industries
- Automotive
- Semiconductor
- Aerospace and Defense
- Medical and Aesthetics
- Telecommunications
- Power and Energy
- Plastics and Polymers
- Others
By Material
- Metals and Alloys
- Polymers
- Glass and Quartz
- Ceramics
- Others
Traditional Micromachining Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- 3D-Micromac AG
- DATRON Dynamics, Inc.
- Electro Scientific Industries, Inc.
- Georg Fischer Ltd.
- Heraeus Holding GmbH
- Spezialglashütte Kugler Colors GmbH
- Lumentum Operations LLC
- Mitsubishi Heavy Industries Ltd.
- MPM Pvt Ltd.
- Oxford Lasers
- Swisstec 3D
- TORNOS SA
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