The global micromachining market size was valued at USD 2.96 billion in 2021 and is projected to reach USD 5.60 billion by 2030 at a CAGR of 7.35% 2022 to 2030. The process used to create 3D and 2D structures on a micrometre size is known as micromachining. Prior to technological breakthroughs, watch parts were thought of as micro components; however, micro components have since been introduced in a variety of industries, such as electronics and biomedical implants. Micromachining applications, including welding, cutting, 3D machining, and micro-milling, have increased as a result of the growing demand for small, economic, and practical goods in sectors like semiconductors & electronics, automotive, aerospace, and medical. Improvements in these sectors open the door for better micromachining.
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The market is being driven by recent trends in product miniaturisation in the semiconductor and electronics industries, where micromachining is crucial for making tiny parts. Additionally, quicker data rates, compatibility for different wireless technologies, and longer battery life of goods all contribute to the micromachining market's growth, which is encouraging IC manufacturers to think outside the box when it comes to production methods. As a result, the utilisation of electrochemical machining and laser machining has expanded for delivering precision machining and manufacture of micro components. Additionally, the market is anticipated to benefit from the use of AI and the integration of the IoT, AR, VR, and 5G industries.
Micromachining is increasingly in demand in the automobile industry because it is currently utilised extensively in this sector. It is utilised in fuel injection technology, such as fuel injector nozzles. Utilising fuel injection technology increases the vehicles' mileage. It helps the car use less fuel as well.
Fuel injector nozzles are micro-machined using the EDM method. The introduction of laser technology in micromachining in the automobile sector is a result of the need for seamless welding and bonding for diverse vehicle components. Additionally, it is anticipated that the electrical components used in electric vehicles will fuel the industry.
Despite a rise in demand for these systems across a number of industries, market growth is predicted to be severely impacted by the high cost of these systems. The lengthy and intricate process of repeatedly depositing thin films on the wafer and the increased number of fabrication steps are to blame for the high price.
Coherent introduced ExactCut, a micromachining tool, in 2019. It combines equipment intelligence, integration, and interconnectivity to be used in the processing of materials. It is used to cut sapphire, alloys, metals, ceramics, and PCDs precisely. For the purpose of cutting down on qualification and integration time, the processes are pre-programmed for the desired application. Additionally, it can provide significant flexibility for a variety of job shops. As a result, the market for this product prospered.
This micromachining market share can be segmented on the basis of axis, type, process, end-use, regions and competitors. In 2020, the 3-axis market category held a market share of more than 40%. The growing use of 3-axis systems in the fabrication of lens arrays and other non-rotationally symmetric free-form optics is a key factor in the segment's demand growth. The segment expansion has also been aided by the increasing concentration of major market participants in the creation of 3-axis micro-milling machines. The cost benefits that 3-axis machines offer over 4-axis and 5-axis machines have fueled the segment's expansion.
The greater cutting speed of the 5-axis segment is expected to cause it to grow at the highest CAGR throughout the projected period. Furthermore, 5-axis micromachining makes it possible to create exceedingly complicated pieces from solid that must be cast. Additionally, these machines have been used more frequently in the manufacturing of prosthetic bones, titanium artwork, and architectural door frames, among other things, which is encouraging for the segment's expansion. The development of 5-axis systems, which is anticipated to positively affect the segment expansion, is being emphasised by a number of market competitors.
In 2020, the non-traditional category controlled the market with a share of roughly 50%. This is explained by the widespread application of technologies like laser, electrochemical machining, and electro discharge machining (EDM). Superior consistency, simultaneous cutting, material compatibility, and the elimination of finishing are just a few benefits of EDM micromachining. Micro drilling of valve plates and drilling spray holes in diesel and gasoline injection nozzles are two examples of non-traditional systems' uses. Additionally, the industry is growing due to the rising use of non-traditional methods in the production of medical components, micro moulds, electronic tools, MEMS sensors, and submersible actuators and motors.
Because micro-milling has become a popular and quick method for removing material and producing microstructures, the conventional category is anticipated to grow at a remarkably high CAGR throughout the projection period. In addition, the demand for mass production is rising across a variety of industrial verticals, including the aerospace and defence industries.
With a market share of more than 40% in 2020, the subtractive category prevailed. This can be ascribed to the advantages in cost and speed as well as the widespread use in mass production. Additionally, it has benefits, including the capacity to create big-sized items and process a range of materials. Additionally, the method's increased use in the manufacture of hard metals, wood, and thermoplastics has fueled the segment's expansion. The ability to execute many tasks with a single tool has improved with innovative tool design, which has also assisted end-use industries in requiring less floor space.
The manufacturing of parts for aeroplanes, medical implants, dental restorations, automobiles, and apparel has seen widespread adoption in the additive micromachining market growth recently. Additionally, the deposition of thin-film layers on semiconductor wafers for the creation of Microelectromechanical Systems (MEMS) sensors uses this method. Additionally, a number of businesses, including Makino, IPG Photonics Corporation, and 3D-Micromac AG, are releasing additive micromachining systems that are anticipated to drive the segment's expansion over the projection period.
With a share of more than 20% in 2020, the automobile industry led the market. This can be linked to the rising need for technology in the machining of fuel injector nozzles used in cars. Additionally, the growing manufacturing of electric vehicles, in which micromachining is widely utilised to manufacture electro-voltaic cells, has greatly accelerated the expansion of the automotive sector. Additionally, the demand for laser micromachining in remote welding of seat structures and door panels has increased, fueling the rise. Additionally, these systems are now being used more frequently in the creation of various automotive sensors, including parking, position, and ultrasonic sensors.
Fabricating electronic assemblies, sensors, actuators, and optical MEMS, among other things, has seen a growth in popularity in the aerospace and military industry in recent years. As a result, during the course of the projected period, the aerospace and defence segment is expected to rise at a very high CAGR.
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In 2020, the Asia Pacific region dominated the market with a share of more than 30%. The presence of several of the biggest producers of automotive components, including China, India, and South Korea, is fostering regional development. Among other things, fuel injectors, vehicle sensors, and electrical assemblies are some of the major automotive parts produced using micromachining. The creation of new micromachining centres in the area that has fueled the segment expansion is a focus for numerous businesses, including Synova SA and Okuma Corporation.
Europe is predicted to grow at the greatest CAGR over the projection period since it is home to some of the biggest automobile manufacturers, including Germany, Italy, and France. Additionally, there has been an increase in demand for micromachined components in the energy and railroad industries, which is anticipated to propel the regional market's expansion even further. Additionally, regional manufacturing firms are quickly converting to new machining techniques and materials in the die and mould, automotive, aerospace, and healthcare sectors.
Market players including Coherent, Inc., Georg Fischer Ltd., and Makino are putting a focus on their R&D operations to look for prospects for long-term growth. Among the leading companies in the micromachining market are 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., and Oxford Lasers.