Micromachining Market: By Product Type, By Process Type, By Axes, By Industry and Geography
Micromachining Market: By Product Type, By Process Type, By Axes, By Industry and Geography
Micromachining Market size was valued at US$ 2, 785.3 million in 2023, growing at a significant CAGR of 7.6% from 2024-2030. Micromachining is the method performed for fabricating 2D and 3D structures on the micrometer scale. Previously watch parts were thought to be micro parts, however, due to technological advancements, micro parts were used in numerous fields like and biomedical and electronic implants. The growing demand for micro, cost-effective, and suitable products has led to an increase in micromachining applications such as 3D machining, micro-milling, welding, and cutting, and in industries such as automotive, semiconductors & electronics, medical, and aerospace. The increasing employment of miniaturization to manage the growing demands of micro components in industries such as automotive additive, aerospace, defense, healthcare, and electronics can lead to the micromachining market growth.
Moreover, increasing demand for miniature components is heading toward innovations in the design of manufacturing systems and tools and rapid growth in Micro Electro Mechanical Systems (MEMS) research and development are some primary factors that can boost the global micromachining market. However, some factors such as the fabrication of structures and micro-components can restrain the growth of the market. The fast-developing technological advancements worldwide are further driving the requirement for novelty in traditional machining methods and tools to encounter the requirements of contemporary industry's design which can create an opportunity for the global micromachining market growth.
Study Period
2024-2030Base Year
2023CAGR
7.6%Largest Market
Asia PacificFastest Growing Market
Asia-Pacific
One of the major reasons for the global micromachining market growth is the increasing demand for micro components in healthcare sectors. In an industry such as medical, small-sized medical devices have led to pain-free surgeries and diagnoses. The medical industry is experiencing a boost in the demand for nano-sized and micro-sized surgery apparatuses. With compact weight and size, the convenience and value of products can be significantly raised. Moreover, the progressions in wearables and other modified healthcare devices are expected to propel the growth of the market in the forecast period.
The Asia Pacific is dominating the global micromachining market, due to the fast growth of the micromachining market in the APAC region is attributed to the existence of numerous manufacturing companies in countries such as South Korea, China, and Japan. Moreover, the rising industrial development, positive economic attitude, fast population growth, and increasing initiatives of regulators in several developing countries to fund the digital transformation and encourage industrial development have also attributed to the growth of the market.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
7.6% |
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By Product Type |
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By Process Type |
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By Axes |
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By Industry |
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The micromachining market is projected to expand at a CAGR of 7.6% during the forecast period
AMADA WELD TECH Co., Ltd., Coherent, Inc., Electro Scientific Industries, Georg Fischer Ltd., Han’s Laser Process Industry Group Co., Ltd., IPG Photonics Corporation, Makino, MITSUBISHI HEAVY INDUSTRIES, LTD., OpTek Ltd., Oxford Lasers
Asia Pacific is the fastest-growing region for micromachining market
| 1. Executive Summary |
| 2. Global Micromachining Market Introduction |
| 2.1. Global Micromachining Market - Taxonomy |
| 2.2. Global Micromachining Market -Definitions |
| 2.2.1. By Type |
| 2.2.2. By Process |
| 2.2.3. By Axis |
| 2.2.4. By Industry |
| 2.2.5. By Region |
| 3. Global Micromachining Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Micromachining Market Dynamic Factors - Impact Analysis |
| 3.6. Global Micromachining Market - Competition Landscape |
| 4. Global Micromachining Market Analysis, 2019-2023 and Forecast, 2024-2030 |
| 4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Micromachining Market, By Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.1. Traditional |
| 5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Non-traditional |
| 5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Hybrid |
| 5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Micromachining Market, By Process, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 6.1. Additive |
| 6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Subtractive |
| 6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Others |
| 6.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Micromachining Market, By Axis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.1. 3-axes |
| 7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. 4-axes |
| 7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. 5-axes |
| 7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Others |
| 7.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8. Global Micromachining Market, By Industry, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.1. Automotive |
| 8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Semiconductor & Electronics |
| 8.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Aerospace & Defense |
| 8.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Medical & Aesthetics |
| 8.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Telecommunications |
| 8.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Power & Energy |
| 8.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.6.3. Market Opportunity Analysis |
| 8.7. Plastics & Polymers |
| 8.7.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.7.3. Market Opportunity Analysis |
| 8.8. Gems & Jewelry |
| 8.8.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.8.3. Market Opportunity Analysis |
| 8.9. Others (Machine tools & Manufacturing, Watchmaking, Glass) |
| 8.9.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.9.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.9.3. Market Opportunity Analysis |
| 9. Global Micromachining Market Forecast, By Region, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia-Pacific |
| 9.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Latin America |
| 9.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Middle East and Africa |
| 9.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 9.6. Global Micromachining Market - Opportunity Analysis Index, By Type, By Process, By Axis, By Industry, and Region, 2024-2030 |
| 10. North America Micromachining Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 10.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Traditional |
| 10.1.2. Non-traditional |
| 10.1.3. Hybrid |
| 10.2. Process Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Additive |
| 10.2.2. Subtractive |
| 10.2.3. Others |
| 10.3. Axis Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. 3-axes |
| 10.3.2. 4-axes |
| 10.3.3. 5-axes |
| 10.3.4. Others |
| 10.4. Industry Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Automotive |
| 10.4.2. Semiconductor & Electronics |
| 10.4.3. Aerospace & Defense |
| 10.4.4. Medical & Aesthetics |
| 10.4.5. Telecommunications |
| 10.4.6. Power & Energy |
| 10.4.7. Plastics & Polymers |
| 10.4.8. Gems & Jewelry |
| 10.4.9. Others (Machine tools & Manufacturing, Watchmaking, Glass) |
| 10.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.5.1. USA |
| 10.5.2. Canada |
| 10.6. North America Micromachining Market - Opportunity Analysis Index, By Type, By Process, By Axis, By Industry, and Country, 2024-2030 |
| 10.7. North America Micromachining Market Dynamics - Trends |
| 11. Europe Micromachining Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 11.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Traditional |
| 11.1.2. Non-traditional |
| 11.1.3. Hybrid |
| 11.2. Process Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Additive |
| 11.2.2. Subtractive |
| 11.2.3. Others |
| 11.3. Axis Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. 3-axes |
| 11.3.2. 4-axes |
| 11.3.3. 5-axes |
| 11.3.4. Others |
| 11.4. Industry Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Automotive |
| 11.4.2. Semiconductor & Electronics |
| 11.4.3. Aerospace & Defense |
| 11.4.4. Medical & Aesthetics |
| 11.4.5. Telecommunications |
| 11.4.6. Power & Energy |
| 11.4.7. Plastics & Polymers |
| 11.4.8. Gems & Jewelry |
| 11.4.9. Others (Machine tools & Manufacturing, Watchmaking, Glass) |
| 11.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.5.1. Germany |
| 11.5.2. UK |
| 11.5.3. France |
| 11.5.4. Spain |
| 11.5.5. Italy |
| 11.5.6. Russia |
| 11.5.7. Rest of Europe |
| 11.6. Europe Micromachining Market - Opportunity Analysis Index, By Type, By Process, By Axis, By Industry, and Country, 2024-2030 |
| 11.7. Europe Micromachining Market Dynamics - Trends |
| 12. Asia-Pacific Micromachining Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 12.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Traditional |
| 12.1.2. Non-traditional |
| 12.1.3. Hybrid |
| 12.2. Process Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Additive |
| 12.2.2. Subtractive |
| 12.2.3. Others |
| 12.3. Axis Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. 3-axes |
| 12.3.2. 4-axes |
| 12.3.3. 5-axes |
| 12.3.4. Others |
| 12.4. Industry Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Automotive |
| 12.4.2. Semiconductor & Electronics |
| 12.4.3. Aerospace & Defense |
| 12.4.4. Medical & Aesthetics |
| 12.4.5. Telecommunications |
| 12.4.6. Power & Energy |
| 12.4.7. Plastics & Polymers |
| 12.4.8. Gems & Jewelry |
| 12.4.9. Others (Machine tools & Manufacturing, Watchmaking, Glass) |
| 12.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.5.1. China |
| 12.5.2. India |
| 12.5.3. Japan |
| 12.5.4. ASEAN |
| 12.5.5. Australia & New Zealand |
| 12.5.6. Rest of Asia-Pacific |
| 12.6. Asia-Pacific Micromachining Market - Opportunity Analysis Index, By Type, By Process, By Axis, By Industry, and Country, 2024-2030 |
| 12.7. Asia-Pacific Micromachining Market Dynamics - Trends |
| 13. Latin America Micromachining Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 13.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Traditional |
| 13.1.2. Non-traditional |
| 13.1.3. Hybrid |
| 13.2. Process Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Additive |
| 13.2.2. Subtractive |
| 13.2.3. Others |
| 13.3. Axis Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. 3-axes |
| 13.3.2. 4-axes |
| 13.3.3. 5-axes |
| 13.3.4. Others |
| 13.4. Industry Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Automotive |
| 13.4.2. Semiconductor & Electronics |
| 13.4.3. Aerospace & Defense |
| 13.4.4. Medical & Aesthetics |
| 13.4.5. Telecommunications |
| 13.4.6. Power & Energy |
| 13.4.7. Plastics & Polymers |
| 13.4.8. Gems & Jewelry |
| 13.4.9. Others (Machine tools & Manufacturing, Watchmaking, Glass) |
| 13.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.5.1. Brazil |
| 13.5.2. Mexico |
| 13.5.3. Rest of Latin America |
| 13.6. Latin America Micromachining Market - Opportunity Analysis Index, By Type, By Process, By Axis, By Industry, and Country, 2024-2030 |
| 13.7. Latin America Micromachining Market Dynamics - Trends |
| 14. Middle East and Africa Micromachining Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 14.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1. Traditional |
| 14.1.2. Non-traditional |
| 14.1.3. Hybrid |
| 14.2. Process Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1. Additive |
| 14.2.2. Subtractive |
| 14.2.3. Others |
| 14.3. Axis Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 14.3.1. 3-axes |
| 14.3.2. 4-axes |
| 14.3.3. 5-axes |
| 14.3.4. Others |
| 14.4. Industry Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 14.4.1. Automotive |
| 14.4.2. Semiconductor & Electronics |
| 14.4.3. Aerospace & Defense |
| 14.4.4. Medical & Aesthetics |
| 14.4.5. Telecommunications |
| 14.4.6. Power & Energy |
| 14.4.7. Plastics & Polymers |
| 14.4.8. Gems & Jewelry |
| 14.4.9. Others (Machine tools & Manufacturing, Watchmaking, Glass) |
| 14.5. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 14.5.1. Gulf CoIndustry Council (GCC) Countries |
| 14.5.2. South Africa |
| 14.5.3. Rest of MEA |
| 14.6. MEA Micromachining Market - Opportunity Analysis Index, By Type, By Process, By Axis, By Industry, and Country, 2024-2030 |
| 14.7. MEA Micromachining Market Dynamics - Trends |
| 15. Competition Landscape |
| 15.1. Strategic Dashboard of Top Market Players |
| 15.2. Company Profiles (Introduction, Financial Analysis, Key Products, Key Developments, Strategies, and SWOT Analysis) |
| 15.2.1. AMADA WELD TECH Co., Ltd. |
| 15.2.2. Coherent, Inc. |
| 15.2.3. Electro Scientific Industries |
| 15.2.4. Georg Fischer Ltd. |
| 15.2.5. Han’s Laser Process Industry Group Co., Ltd. |
| 15.2.6. IPG Photonics Corporation |
| 15.2.7. Makino |
| 15.2.8. MITSUBISHI HEAVY INDUSTRIES, LTD. |
| 15.2.9. OpTek Ltd. |
| 15.2.10. Oxford Lasers |
| 16. Research Methodology |
| 17. Key Assumptions and Acronyms |
Key Market Players
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