The Global Micromachining Market size accounted for US$ 2,698 Million in 2021 and is anticipated to reach US$ 4,919 Million by 2030 with a CAGR of 6.9% from 2022 to 2030.

Micro-machining is a machining process that removes small ('microscopic') bits of material to achieve high geometrical accuracy that would otherwise be impossible to achieve. Micro-machining is well suited for manufacturing micro-structures and micro-parts because the amount of material eliminated directly in a micro-machining process is relatively small, and removal rates are often very low. When a micro-machining method is set up for machining large workpieces, it is done so to meet incredibly tight figure and abrasion tolerances. These applications are typically referred to as 'precision machining' or 'ultra-precision machining,' depending on the level of accuracy achieved. The transition to nano-machining, an important branch of nanotechnology, occurs when the amount of material deleted becomes increasingly small.

Market Dynamics

Increased demand for miniaturized electrical components and micro-sized surgical implants, which reduce the overall space, weight, and cost of the final product, is driving the market. Micromachining market growth will be fueled by growing demands for micro-scale products from industries including automotive, telecom, energy, and aerospace, to name a few.

Micromachining is also being influenced positively by the emergence of 5G technologies and the pervasive spread of the Internet of Things (IoT) to produce telecom equipment, sensors, and other devices. Furthermore, the increasing popularity of intravenous (IV) procedures and minimally invasive surgeries (MIS) is boosting market growth by increasing the adoption of micro-sized medical implants.

Micromachining is in high demand in the automotive industry, where it is currently used extensively. It's used in fuel injection technology, like fuel injector nozzles, for example. The fuel injection technology improves the mileage of the vehicles. It also aids the vehicle in using less gasoline. COVID-19 has compelled a number of governments worldwide to implement strict policies limiting people's freedom of movement. The Singapore government's initiation of "Circuit Breaker" in April 2020, which tends to result in the closure of workplaces and schools, was one of these initiatives.

Market Insights

Type, technique, axis, application, end-use industry, and region are the six categories of the global micromachining industry. Based on the Type, the segmentation includes lithographic, electro chemical machining, laser micromachining, electro discharge machining, hybrid machining, micro ultrasonic machining, and others. According to our research, the lithographic segment is one of the significant parts of the micromachining market in the coming years.

The technique segment is categorized into bulk micromachining, and surface micromachining. Based on them, the surface micromachining segment achieved a significant market share during the forecasted years 2022 – 2030. The axis segment is further categorized into 4-axes, 3-axes, 5-axes, and others. Among them, the 3-axes segment achieved a significant amount of market share in 2021. 3D machining, cutting, contouring, micro hole drilling, micro-milling, scribing, surface treatment, welding, and others are the categorizations of the application segment. Furthermore, the end-use industry is split into aerospace & defense, automotive, gems & jewelry, medical & aesthetics, plastics & polymers, power & energy, semiconductor & electronics, telecommunications, and others (watchmaking, machine tools & manufacturing, glass).

Global Micromachining Market Geographical Competition

North America, Europe, Latin America, Asia-Pacific, the Middle East, and Africa comprise the global Micromachining industry. The size of the world's revenue Asia-Pacific has the largest micromachining market. Regional growth is being fueled by the presence of some of the world's major automotive component manufacturing countries, such as China, South Korea, and India. Furthermore, in 2021, North America was the second-largest market. The market is growing due to the increased use of micromachining techniques for the fabrication of automotive sensors, car dynamic controls, actuators, and navigation systems. Furthermore, as the use of electric vehicles grows in the United States, so will the use of micromachining in the production of electric vehicle batteries.

Global Micromachining Industry Segment Analysis

Micromachining Market By Type

·         Lithographic

·         Electro Chemical Machining

·         Laser Micromachining

·         Electro Discharge Machining

·         Hybrid Machining

·         Micro Ultrasonic Machining

·         Others

Micromachining Market By Technique

·         Surface Micromachining

·         Bulk Micromachining

Micromachining Market By Axis

·         5-Axes

·         3-Axes

·         4-Axes

·         Others

Micromachining Market By Application

·         3D machining

·         Cutting

·         Contouring

·         Micro Hole Drilling

·         Micro-Milling

·         Scribing

·         Surface Treatment

·         Welding

·         Others

Micromachining Market By End Use Industry

·         Aerospace & Defense

·         Automotive

·         Gems & Jewelry

·         Medical & Aesthetics

·         Plastics & Polymers

·         Power & Energy

·         Semiconductor & Electronics

·         Telecommunications

·         Others (Watchmaking, Machine Tools & Manufacturing, Glass)

Micromachining Market Leading Companies

This section of the study honors the market's top vendors Han’s Laser Process Industry Group Co., Ltd., Mitsubishi Heavy Industries, Ltd., Amada Weld Tech Co., Ltd., Heraeus Holding GmbH, Coherent, Inc., IPG Photonics Corporation, Georg Fischer Ltd., Electro Scientific Industries, Lumentum Holdings Inc., Oxford Lasers Makino Milling Machine Co., Ltd., and OpTek Ltd. are the key companies mentioned in the research.

Micromachining Market Regions