Micromachining Market 2019|Comprehensive Study by Leading Key Players- 3D-Micromac AG, 4JET microtech GmbH, IPG Photonics Corporation

The global micromachining market was valued at US$ 2.86 Bn in 2018 and is expected to grow at a CAGR of 7.6% during 2019–2027, to account for US$ 5.48 Bn by 2027.

The global market for micromachining has been segmented into five major regions - North America, Europe, APAC, MEA, and SAM. In 2018, APAC led the global micromachining market followed by North America and Europe. APAC is also expected to be the fastest-growing region in the global micromachining market during the forecast period. 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.

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Market Insights

Positive growth outlook of the global semiconductor and electronics industry

The semiconductors and electronics industry plays a crucial role in the global economy in terms of both revenue and growth. The global semiconductor, as well as the electronics industry, is witnessing a robust growth rate from the past few years owing to continuous technological advancements and investments in research and development activities. The penetration of advanced technologies such as artificial intelligence (AI), 5G, Internet of Things (IoT), and autonomous vehicles in various industries is pushing the limits of every industry and presents a huge growth opportunity for the global semiconductor & electronics industry. 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 positive growth outlook of these industries coupled with increasing integration of IoT, rising adoption of artificial intelligence, augmented reality, virtual reality, and upcoming commercialization of 5G, is anticipated to drive the growth of micromachining is anticipated to grow at an impressive rate during the forecast period 2019 to 2027.

Favorable government initiatives to support the growth of the global manufacturing sector

For sustainable economic development, countries are increasingly focusing on boosting industrialization, especially in the manufacturing and process industries. Governments of various countries, especially India and China, are taking initiatives through regulations, innovation promotion, and knowledge brokerage to achieve inclusive and sustainable industrialization. The rapidly changing technology landscape in the manufacturing and process industries worldwide has also been encouraging the manufacturing companies to invest in advanced manufacturing techniques, which can help achieve high operational efficiencies and also enable companies to meet challenging demands of today’s customers. 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. However, the future growth of the micromachining market is anticipated to come from developing regions such as APAC, the Middle East, Africa, and SAM.

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GLOBAL MICROMACHINING MARKET SEGMENTATION

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

Global Micromachining Market – By Geography

  • North America: S., Canada, Mexico
  • Europe: France, Germany, UK, Spain, Italy
  • Asia Pacific (APAC): China , India, Japan, Australia, South Korea
  • Middle East & Africa (MEA): Saudi Arabia, South Africa, UAE
  • South America (SAM): Brazil,  Argentina

Reason to Purchase

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global micromachining market.

Highlights key business priorities in order to assist companies to realign their business strategies.

The key findings and recommendations highlight crucial progressive industry trends in the global micromachining market, thereby allowing players across the value chain to develop effective long-term strategies.

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

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Posted by on Thursday December 05 2019, 2:03 AM EST. All trademarks acknowledged. Filed under Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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