The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global micromachining market size is expected to grow from $2.77 billion in 2022 to $2.98 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The market size of global micromachining is expected to grow to $4.01 billion in 2027 at a CAGR of 7.7%.

What will drive the micromachining market?

The micromachining market is expected to thrive due to strong growth in the semiconductor and electronics sectors.

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Who are the major players in the market?

Major Market Players in the micromachining market include Amada Weld Tech Co., Ltd., Coherent, Inc., Georg Fischer Ltd., Han’s Laser Process Industry Group Co., IPG Photonics Corporation, Lumentum Holdings Inc.

Which trend is gaining popularity in the micromachining market?

Technological progress is a pivotal trend in the micromachining industry. Complex structures employ micro components, driving advancements in micromachining techniques like micro-cutting, micro-EDM, laser micro-machining, FIB machining, etc. Companies invest in innovative lasers to enhance micromachining equipment performance on sensitive and high-strength materials like medical devices, polymers, and metals.

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How is the micromachining market segmented?

Global Micromachining Market Segments Include:

• By Type: Traditional, Non-traditional, Hybrid
• By Process: Additive, Subtractive, Others
• By Axis: 3-axis, 4-axis, 5-axis, Others
• By Industry: Automotive, Semiconductors & Electronics, Aerospace & Defense, Healthcare, Telecommunications, Power & Energy, Plastics & Polymers, Gems & Jewelry, Others
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global micromachining market in 2021.

The Micromachining Global Market Report 2023  provides an overview of the micromachining market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The micromachining market forecast analyzes micromachining market size, micromachining market share, leading competitor and their market positions.

Micromachining involves material removal, not by a sharp tool, but by another method. Micromachining tools create precise, cost-effective, intricate small components for microscale process emulation.

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