Micromachining Market by Type (Traditional, Non-traditional, Hybrid), Process (Additive, Subtractive, Others), Axis (3 axes, 4 axes, 5 axes), Industry (Automotive, Aerospace & Defense), and Geography - Global Forecast to 2025
The global micromachining market size is expected to reach USD 3.3 billion by 2025 from USD 2.4 billion in 2020, at a CAGR of 6.2%. The growth of this market is accelerated by the growing demand for the miniaturization of electronic devices and the rising preference of laser-based micromachining over the traditional approach.
Non-traditional micromachining segment to grow at the highest CAGR during the forecast period
Non-traditional micromachining consists of sub-types such as electrochemical micromachining, electrical discharge micromachining, ultrasonic micromachining, and laser micromachining. Laser micromachining and ultrasonic micromachining are some of the dominant sub-types of micromachining that offer ease of use, precision, and extensive usage in various industries. These advantages of laser and ultrasonic micromachining drives the market for non-traditional type micromachining.
Additive process of micromachining market to hold the highest growth rate during the forecast period
Additive machining or manufacturing is also known as 3D printing. The additive micromachining consists of surface micromachining which is further sub-segmented into chemical vapor deposition (CVD), electrodeposition, epitaxy, and physical vapor deposition (PVD).
With the increasing use of 3D printing for micromachining in industries such as medical & aesthetics, and semiconductor & electronics as it offers application flexibility and mass production of customized equipment heralds the highest growth rate of the additive process in micromachining market.
5-axes micromachining to witness the highest growth rate during the forecast period
5-axes micromachining is used in highly specialized industries for its precision. The application of the 5-axes is prominent in manufacturing medical components, automotive, military-grade products, petrochemical industry parts, and aerospace components. The addition of the 5th axis in the micromachining system increases the potential applications of the machine. Improved precision requires less movement of the material for micromachining, which drives the growth rate of the 5-axes micromachining market.
Automotive industry to hold the largest share of micromachining in 2019
Micromachining is used widely in the global automotive industry. For example, fuel injector nozzles are used in fuel injection technology of various automobiles. This fuel injection technology not only improves the mileage of the vehicle but also consumes less fuel.
Fuel injector nozzles are typically micromachined by the EDM process. The laser technology in micromachining is used widely in seamless welding and bonding in the automotive industry for various vehicle components. Electronic components used in automobiles and electro voltaic cells used in electric vehicles are driving the market for the automotive industry.
North America was the largest market for micromachining in 2019
North America accounted for a significant share of the global micromachining market in 2019. The region (for this study) includes the US, Canada, and Mexico. Leading companies in this region provide the most developed micromachining to various industries such as automotive and aerospace & defense. Some of the prominent companies from North America include General Motors, Ford, General Electric, Rockwell Automation, and Coherent, among others, that widely use micromachined products. The presence of all major companies, strong industrial demand, and steady supply-side drive the market in North America.
Key Market Players
Major players operating in the global micromachining market are Coherent, Inc. (US), Georg Fischer Ltd. (Switzerland), Makino Milling Machine Co., Ltd. (Japan), Lumentum Holdings Inc. (US), Mitsubishi Heavy Industries, Ltd (Japan), DATRON Dynamics, Inc. (US), Hans Laser Technology Industry Group Co., Ltd (China), Electro Scientific Industries, Inc. (US), IPG Photonics Corporation (US), and Heraeus Holding GmbH (Germany), among others.
COHERENT is one of the leading companies in the micromachining market. The company has a laser technology-focused micromachining product portfolio for applications in microelectronics, materials processing, and OEM components and instrumentation. The laser solutions offered by the company are of various types such as diode-pumped solid-state lasers (DPSS), fiber lasers, gas lasers (CO, CO2, excimer, ion), optically pumped semiconductor lasers (OPSL), ultrafast (UF) lasers, and semiconductor lasers. The company has focused its micromachining offering based on laser technology only and hence has a comprehensive product portfolio based on it. Also, more than 80% of the revenue of the company comes from outside of the US, suggesting that the company has a substantial reach worldwide.
Makino is another major company in the micromachining market. The company offers high-quality metal cutting and EDM machines that include horizontal machining centers, vertical machining centers, 5-axis machining centers, graphite machining centers, and wire and sinker EDMs. The company is present in Asia, the Americas, and Europe. The micromachining offerings by the company have features such as advanced spindle temperature control, rigid machine construction, and unique EDM advancements. The micromachining equipment is capable of high-speed machining and repeatability. The company has a comprehensive product portfolio in wire EDM that makes it robust in the market.
Scope of the Report
|
Report Metric |
Details |
|
Market size available for years |
20152025 |
|
Base year |
2019 |
|
Forecast period |
2020-2025 |
|
Market size units |
Value (USD) |
|
Segments covered |
Type, Process, Axis, Industry, and Region |
|
Geographies covered |
North America, APAC, Europe, and RoW |
|
Companies covered |
Coherent, Inc. (US), Georg Fischer Ltd. (Switzerland), Makino Milling Machine Co., Ltd. (Japan), Lumentum Holdings Inc. (US), Mitsubishi Heavy Industries, Ltd (Japan), DATRON Dynamics, Inc. (US), Hans Laser Technology Industry Group Co., Ltd (China), Electro Scientific Industries, Inc. (US), IPG Photonics Corporation (US), and Heraeus Holding GmbH (Germany) |
In this report, the overall micromachining market has been segmented based on type, process, axis, industry, and geography.
By Type:
- Traditional
- Non-traditional
- Hybrid
By Process:
- Additive
- Subtractive
- Others
By Axis:
- 3-axes
- 4-axes
- 5-axes
- Others
By Industry:
- Automotive
- Semiconductor & Electronics
- Aerospace & Defense
- Medical & Aesthetics
- Telecommunications
- Power & Energy
- Plastics & Polymers
- Gems & Jewelry
- Others (Machine tools & Manufacturing, Watchmaking, Glass)
By Region:
- North America
- Europe
- Asia Pacific (APAC)
- Rest of the World (RoW)
Following are a few of the recent developments in the micromachining market:
- In September 2019, Georg Fischer opened a new production center in Biel (Switzerland) for machining solutions.
- In July 2019, Makino introduced the U6 H.E.A.T. Extreme wire EDM machine that uses 0.016" coated wire technology. This machine increases rough machining rates up to 300% as compared to traditional 0.010" brass wire while maintaining comparable wire consumption rate.
- In February 2019, Coherent launched ExactCut, a fine materials processing equipment. It is micromachining equipment that cuts metals, alloys, sapphire, polycrystalline diamond (PCD), and ceramics. This equipment is used in manufacturing applications for electronics, medical devices, horology, and automotive.
Key Questions Addressed by the Report:
- Which type of micromachining is most likely to have the highest demand in the near future?
- What are the opportunities and challenges for the players in the micromachining market?
- Which region will have the highest demand for micromachining?
- Which company is leading in the micromachining market at present?
- Which industry adopts micromachining at the highest rate?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 17)
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Inclusions/Exclusions
1.3.3 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 21)
2.1 Introduction
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Data From Primary Sources
2.1.3 Secondary and Primary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach for Arriving at the Market Size Using the Bottom-Up Analysis
2.2.2 Top-Down Approach
2.2.2.1 Approach for Arriving at the Market Size Using the Bottom-Up Analysis
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 30)
4 Premium Insights (Page No. - 35)
4.1 Micromachining Market
4.2 Micromachining Market, By Type (20202025)
4.3 Micromachining Market, By Process (2020 and 2025)
4.4 Micromachining Market, By Axis (2020 and 2025)
4.5 Micromachining Market, By Industry (2020 and 2025)
4.6 Market, By Region (20202025)
5 Market Overview (Page No. - 38)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Demand for the Miniaturization of Microelectronic Devices
5.2.1.2 Laser-Based Material Micromachining Preferred Over the Traditional Approach
5.2.2 Restraints
5.2.2.1 Regulatory Compliances
5.2.3 Opportunities
5.2.3.1 Development of the Sensor Fusion Technology
5.2.4 Challenges
5.2.4.1 Requirement of Low-Cost Solutions
5.2.4.2 Environmental Concerns Over the Use of Rare Earth Elements
6 Micromachining Market, By Type (Page No. - 42)
6.1 Introduction
6.2 Traditional
6.2.1 Traditional Type to Lead the Automotive Market
6.2.1.1 Mechanical
6.2.1.1.1 Micro Milling
6.2.1.1.2 Micro Turning
6.2.1.2 Lithographie, Galvanoformung & Abformung (LIGA)
6.3 Non-Traditional
6.3.1 Non-Traditional Type Micromachining to Lead the Market
6.3.1.1 Electro-Chemical Micromachining (ECM)
6.3.1.2 Electrical Discharge Micromachining (EDM)
6.3.1.3 Ultrasonic Micromachining
6.3.1.4 Laser Micromachining
6.4 Hybrid Micromachining
6.4.1 Subtractive Process Leads the Hybrid Micromachining Market
7 Micromachining Market, By Process (Page No. - 50)
7.1 Introduction
7.2 Additive
7.2.1 Additive Process to Grow at the Highest CAGR in the Micromachining Market
7.2.1.1 Surface Micromachining
7.2.1.1.1 Chemical Vapor Deposition (CVD)
7.2.1.1.1.1 Low Pressure CVD
7.2.1.1.1.2 Plasma Enhanced CVD
7.2.1.1.2 Electro Deposition
7.2.1.1.3 Epitaxy
7.2.1.1.4 Physical Vapor Deposition (Pvd)
7.3 Subtractive
7.3.1 Subtractive Process Projected to Lead the Market During the Forecast Period
7.3.1.1 Bulk Micromachining
7.3.1.1.1 Wet Etching
7.3.1.1.2 Dry Etching
7.3.1.2 Micro Cutting
7.3.1.3 Micro Drilling
7.3.1.4 Micro Texturing
7.3.1.5 Micro Ablating
7.3.1.6 Micro Scribing
7.3.1.7 Micro Engraving
7.4 Others
7.4.1 Joining
7.4.1.1 Micro Welding
7.4.2 Modifications
7.4.2.1 Micro Marking
7.4.2.2 Micro Perforating
8 Micromachining Market, By Axis (Page No. - 60)
8.1 Introduction
8.2 3 Axes
8.2.1 3 Axes Micromachining to Lead the Market During the Forecast Period
8.3 4 Axes
8.3.1 Non-Traditional Micromachining Projected to Lead the Market in 4 Axes Machines During the Forecast Period
8.4 5 Axes
8.4.1 5 Axes Micromachining to Grow at the Highest CAGR During the Forecast Period
8.5 Others
9 Micromachining Market, By Industry (Page No. - 68)
9.1 Introduction
9.2 Automotive
9.2.1 Non-Traditional Micromachining is Projected to Lead the Market in the Automotive Segment
9.3 Semiconductors & Electronics
9.3.1 Subtractive Process is Projected to Lead the Semiconductors & Electronics Industry
9.4 Aerospace & Defense
9.4.1 3 Axes and 5 Axes to Lead the Aerospace & Defense Market
9.5 Medical & Aesthetics
9.5.1 Europe Projected to Lead the Market in the Medical & Aesthetics Segment
9.6 Telecommunications
9.6.1 Additive Process in the Telecommunications Segment to Grow at the Highest CAGR
9.7 Power & Energy
9.7.1 The Hybrid Type is Projected to Grow at the Highest CAGR in the Power & Energy Segment
9.8 Plastics & Polymers
9.8.1 Additive Process to Grow at the Highest CAGR in the Plastics & Polymers Segment
9.9 Gems & Jewelry
9.9.1 Non-Traditional Segment to Lead in the Gems & Jewelery Industry
9.10 Others
10 Geographic Analysis (Page No. - 84)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Increasing Use of Micromachining in Automobile Industry
10.2.2 Canada
10.2.2.1 Promising Opportunities for Micromachining in Automotive Industry
10.2.3 Mexico
10.2.3.1 Consistent Growth in Automotive Industry to Boost Micromachining Market
10.3 Europe
10.3.1 UK
10.3.1.1 Presence of Prominent Automotive and Aerospace Companies Increases the Adoption of Micromachining in UK
10.3.2 France
10.3.2.1 Strong Aerospace Industry Boosts the Market for Micromachining in France
10.3.3 Germany
10.3.3.1 Significant Growth is Expected in Micromachining Market Due to Presence of Strong Automotive Industry
10.3.4 Rest of Europe
10.4 Asia Pacific (APAC)
10.4.1 China
10.4.1.1 Demand for Lasers is Rising Due to Increasing Manufacturing Activities in Automobile Industry
10.4.2 Japan
10.4.2.1 Rapid Industrialization and Modernization Makes Japan A Prominent Player in the Asia Pacific Region
10.4.3 South Korea
10.4.3.1 South Korea is One of the Most Industrialized Nations in Asia.
10.4.4 India
10.4.4.1 India is One of the Fastest-Growing Economies in the Asia Pacific.
10.4.5 Rest of Asia Pacific
10.5 Rest of the World (RoW)
10.5.1 Middle East & Africa
10.5.2 South America
11 Competitive Landscape (Page No. - 98)
11.1 Overview
11.2 Ranking Analysis of Players in the Micromachining Market
11.3 Competitive Leadership Mapping, 2018
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Competitive Scenario
11.4.1 Product Launches
11.4.2 Expansions
11.4.3 Partnerships
12 Company Profiles (Page No. - 102)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.1 Key Players
12.1.1 Coherent
12.1.2 Georg Fischer
12.1.3 Makino
12.1.4 Lumentum
12.1.5 Mitsubishi
12.1.6 DATRON
12.1.7 Hans Laser
12.1.8 Electro Scientific Industries
12.1.9 IPG Photonics
12.1.10 Heraeus
12.2 Right to Win
12.3 Other Key Players
12.3.1 Omax
12.3.2 3D Micromac
12.3.3 Lasea
12.3.4 Posalux
12.3.5 Scanlab
12.3.6 Tornos
12.3.7 Swisstec 3D
12.3.8 Kugler
12.3.9 GFH
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 125)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (101 Tables)
Table 1 Micromachining Market, By Type, 20172025 (USD Million)
Table 2 Micromachining Market for the Traditional Type, By Process, 20172025 (USD Million)
Table 3 Micromachining Market for the Traditional Type, By Axis, 20172025 (USD Million)
Table 4 Micromachining Market for the Traditional Type, By Industry, 20172025 (USD Million)
Table 5 Micromachining Market for the Traditional Type, By Geography, 20172025 (USD Million)
Table 6 Micromachining Market for the Non-Traditional Type, By Process, 20172025 (USD Million)
Table 7 Micromachining Market for the Non-Traditional Type, By Axis, 20172025 (USD Million)
Table 8 Micromachining Market for the Non-Traditional Type, By Industry, 20172025 (USD Million)
Table 9 Micromachining Market for the Non-Traditional Type, By Geography, 20172025 (USD Million)
Table 10 Market for the Hybrid Type, By Process, 20172025 (USD Million)
Table 11 Market for the Hybrid Type, By Axis, 20172025 (USD Million)
Table 12 Market for the Hybrid Type, By Industry, 20172025 (USD Thousand)
Table 13 Market for the Hybrid Type, By Geography, 20172025 (USD Million)
Table 14 Market, By Process, 20172025 (USD Million)
Table 15 Market for the Additive Process, By Type, 20172025 (USD Million)
Table 16 Market for the Additive Process, By Axis, 20172025 (USD Million)
Table 17 Market for the Additive Process, By Industry, 20172025 (USD Million)
Table 18 Market for the Additive Process, By Geography, 20172025 (USD Million)
Table 19 Market for the Subtractive Process, By Type, 20172025 (USD Million)
Table 20 Market for the Subtractive Process, By Axis, 20172025 (USD Million)
Table 21 Market for the Subtractive Process, By Industry, 20172025 (USD Million)
Table 22 Market for the Subtractive Process, By Geography, 20172025 (USD Million)
Table 23 Market for Other Processes, By Type, 20172025 (USD Million)
Table 24 Market for Other Processes, By Axis, 20172025 (USD Million)
Table 25 Market for Other Processes, By Industry, 20172025 (USD Million)
Table 26 Market for Other Processes, By Geography, 20172025 (USD Million)
Table 27 Market, By Axis, 20172025 (USD Million)
Table 28 Market for 3 Axes, By Process, 20172025 (USD Million)
Table 29 Market for 3 Axes, By Type, 20172025 (USD Million)
Table 30 Market for 3 Axes, By Industry, 20172025 (USD Million)
Table 31 Market for 3 Axes, By Geography, 20172025 (USD Million)
Table 32 Market for 4 Axes, By Process, 20172025 (USD Million)
Table 33 Market for 4 Axes, By Type, 20172025 (USD Million)
Table 34 Market for 4 Axes, By Industry, 20172025 (USD Million)
Table 35 Market for 4 Axes, By Geography, 20172025 (USD Million)
Table 36 Market for 5 Axes, By Process, 20172025 (USD Million)
Table 37 Market for 5 Axes, By Type, 20172025 (USD Million)
Table 38 Market for 5 Axes, By Industry, 20172025 (USD Million)
Table 39 Market for 5 Axes, By Geography, 20172025 (USD Million)
Table 40 Market for Other Axes, By Process, 20172025 (USD Million)
Table 41 Market for Other Axes, By Type, 20172025 (USD Million)
Table 42 Market for Other Axes, By Industry, 20172025 (USD Thousand)
Table 43 Market for Other Axes, By Geography, 20172025 (USD Million)
Table 44 Market, By Industry, 20172025 (USD Million)
Table 45 Market for the Automotive Industry, By Process, 20172025 (USD Million)
Table 46 Market for the Automotive Industry, By Type, 20172025 (USD Million)
Table 47 Market for the Automotive Industry, By Axis, 20172025 (USD Million)
Table 48 Market for the Automotive Industry, By Geography, 20172025 (USD Million)
Table 49 Market for the Semiconductors & Electronics Industry, By Process, 20172025 (USD Million)
Table 50 Market for the Semiconductors & Electronics Industry, By Type, 20172025 (USD Million)
Table 51 Market for the Semiconductors & Electronics Industry, By Axis, 20172025 (USD Million)
Table 52 Market for the Semiconductors & Electronics Industry, By Geography, 20172025 (USD Million)
Table 53 Market for the Aerospace & Defense Industry, By Process, 20172025 (USD Million)
Table 54 Market for the Aerospace & Defense Industry, By Type, 20172025 (USD Million)
Table 55 Market for the Aerospace & Defense Industry, By Axis, 20172025 (USD Million)
Table 56 Market for the Aerospace & Defense Industry, By Geography, 20172025 (USD Million)
Table 57 Market for the Medical & Aesthetics Industry, By Process, 20172025 (USD Million)
Table 58 Market for the Medical & Aesthetics Industry, By Type, 20172025 (USD Million)
Table 59 Market for the Medical & Aesthetics Industry, By Axis, 20172025 (USD Million)
Table 60 Market for the Medical & Aesthetics Industry, By Geography, 20172025 (USD Million)
Table 61 Market for the Telecommunications Industry, By Process, 20172025 (USD Million)
Table 62 Market for the Telecommunications Industry, By Type, 20172025 (USD Million)
Table 63 Market for the Telecommunications Industry, By Axis, 20172025 (USD Million)
Table 64 Market for the Telecommunications Industry, By Geography, 20172025 (USD Thousand)
Table 65 Market for the Power & Energy Industry, By Process, 20172025 (USD Thousand)
Table 66 Market for the Power & Energy Industry, By Type, 20172025 (USD Million)
Table 67 Market for the Power & Energy Industry, By Axis, 20172025 (USD Thousand)
Table 68 Market for the Power & Energy Industry, By Geography, 20172025 (USD Thousand)
Table 69 Market for the Plastics & Polymers Industry, By Process, 20172025 (USD Thousand)
Table 70 Market for the Plastics & Polymers Industry, By Type, 20172025 (USD Thousand)
Table 71 Market for the Plastics & Polymers Industry, By Axis, 20172025 (USD Thousand)
Table 72 Market for the Plastics & Polymers Industry, By Geography, 20172025 (USD Thousand)
Table 73 Market for the Gems & Jewelry Industry, By Process, 20172025 (USD Thousand)
Table 74 Market for the Gems & Jewelry Industry, By Type, 20172025 (USD Thousand)
Table 75 Market for the Gems & Jewelry Industry, By Axis, 20172025 (USD Thousand)
Table 76 Market for the Gems & Jewelry Industry, By Geography, 20172025 (USD Thousand)
Table 77 Market for Other Industries, By Process, 20172025 (USD Thousand)
Table 78 Market for Other Industries, By Type, 20172025 (USD Thousand)
Table 79 Market for Other Industries, By Axis, 20172025 (USD Thousand)
Table 80 Market for Other Industries, By Geography, 20172025 (USD Thousand)
Table 81 Market, By Geography, 20172025 (USD Million)
Table 82 Market for North America, By Process, 20172025 (USD Million)
Table 83 Market for North America, By Type, 20172025 (USD Million)
Table 84 Market for North America, By Axis, 20172025 (USD Million)
Table 85 Market for North America, By Industry, 20172025 (USD Million)
Table 86 Market for Europe, By Process, 20172025 (USD Million)
Table 87 Market for Europe, By Type, 20172025 (USD Million)
Table 88 Market for Europe, By Axis, 20172025 (USD Million)
Table 89 Market for Europe, By Industry, 20172025 (USD Million)
Table 90 Market for Asia Pacific, By Process, 20172025 (USD Million)
Table 91 Market for Asia Pacific, By Type, 20172025 (USD Million)
Table 92 Market for Asia Pacific, By Axis, 20172025 (USD Million)
Table 93 Market for Asia Pacific, By Industry, 20172025 (USD Million)
Table 94 Market for the Rest of the World, By Process, 20172025 (USD Thousand)
Table 95 Market for the Rest of the World, By Type, 20172025 (USD Million)
Table 96 Market for the Rest of the World, By Axis, 20172025 (USD Million)
Table 97 Market for the Rest of the World, By Industry, 20172025 (USD Thousand)
Table 98 Top Three Micromachining Market Players, 2018
Table 99 Product Launches, 20182019
Table 100 Expansions, 20182019
Table 101 Partnership, 2019
List of Figures (33 Figures)
Figure 1 Micromachining Market Segmentation
Figure 2 Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Assumptions for the Research Study
Figure 7 Market Segmentation
Figure 8 Global Micromachining Market, 2017 to 2025 (USD Million)
Figure 9 Market for Additive Micromachining Process to Grow at the Highest CAGR During the Forecast Period
Figure 10 Non-Traditional Type to Lead the Micromachining Market During the Forecast Period
Figure 11 5 Axes Micromachining System Projected to Grow at the Highest CAGR During the Forecast Period
Figure 12 Automotive Industry to Lead the Market From 2020 to 2025
Figure 13 Asia Pacific to Grow at the Highest CAGR in the Market During the Forecast Period
Figure 14 Attractive Growth Opportunities for Players in the Market
Figure 15 Hybrid Micromachining to Grow at the Highest CAGR During the Forecast Period
Figure 16 Subtractive Micromachining to Lead the Market During the Forecast Period
Figure 17 3 Axes Micromachining to Lead the Market During the Forecast Period
Figure 18 Automotive Industry to Account for the Largest Share of the Market in 2025
Figure 19 Asia Pacific to Grow at the Highest CAGR in the Market During the Forecast Period
Figure 20 Micromachining Market Dynamics
Figure 21 Market, By Type
Figure 22 Market, By Process
Figure 23 Market, By Axis
Figure 24 Market, By Industry
Figure 25 North America: Micromachining Snapshot
Figure 26 Asia Pacific: Micromachining Market Snapshot
Figure 27 Market (Global) Competitive Leadership Mapping, 2018
Figure 28 Coherent: Company Snapshot
Figure 29 Georg Fischer: Company Snapshot
Figure 30 Makino: Company Snapshot
Figure 31 Lumentum: Company Snapshot
Figure 32 Mitsubishi: Company Snapshot
Figure 33 IPG Photonics: Company Snapshot
The study involved four major activities in estimating the current size of the global micromachining market. Exhaustive secondary research has been done to collect information on the market and the peer market. Validate these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the total market size. After that, market breakdown and data triangulation procedures have been carried out to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as Factiva and Avention, have been referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases, and investor presentations of companies, white papers, certified publications, articles by recognized authors, trade directories, and databases.
Primary Research
Extensive primary research has been conducted after gaining knowledge about the micromachining market scenario through secondary research. Several primary interviews have been conducted with market experts from both demand and supply sides across four major regionsNorth America, Europe, APAC, and RoW. Approximately 30% and 70% of primary interviews have been conducted with parties from the demand and supply sides, respectively. This primary data has been collected through questionnaires, e-mails, and telephonic interviews.
The following figure shows the breakdown of primaries based on company type, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global micromachining market and other dependent submarkets. Key players in the market have been identified through secondary research, and their ranking in the respective regions has been determined through primary and secondary research. This entire research methodology involves the study of financial reports of top players and interviews with industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative) on the micromachining market. All percentage share split and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
Data Triangulation
After arriving at the overall micromachining market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Study Objectives Are as Follows:
- To define, describe, and forecast the micromachining market, in terms of value, based on type, process, axis, and industry
- To forecast the market size, in terms of value, for segments concerning four main regionsNorth America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To provide detailed information regarding major factors, namely, drivers, restraints, opportunities, and challenges influencing the growth of the micromachining market
- To provide an overall view of the global micromachining market through illustrative segmentation, analyses, and market size estimations of crucial geographic segments
- To analyze the competitive intelligence of players based on company profiles and their strategies to sustain their position and grow in this market
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the total market
- To strategically profile key players and comprehensively analyze their market ranking and core competencies2, along with detailing the competitive landscape for market leaders
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Growth opportunities and latent adjacency in Micromachining Market