The global traditional micromachining market is anticipated to grow at a CAGR of 5.2% during the forecast period. The increased use of traditional micromachining systems in the production of miniaturized components for various industries and sectors, such as oil and gas, manufacturing and mining, is a key driver of market growth. The rising demand for numerous sensors, including motion sensors, location sensors and displacement sensors, in wearable devices such as electronic skin and smartwatches is expected to further drive the growth of the market. In addition, there is a major growth in the use of these technologies in the manufacture of automotive sensors such as positioning sensors. The high cost of these systems is expected to negatively impact market growth.
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Moreover, the market growth is also driven by the presence of prominent players operating in the market. Players such as G Georg Fischer Ltd.; IPG Photonics Corp.; and AMADA WELD TECH Co., Ltd. are focusing on strategies such as mergers, acquisitions, business expansion, and partnerships to bring new growth opportunities to the market. For instance, in April 2022, Lumentum Holdings Inc. expanded its product offering by adding high-precision ultrafast industrial lasers-the FemtoBlade. The FemtoBlade laser employs a modular design that provides increased flexibility and high power at high repetition rates which will enable faster processing and improved throughput for micromachining applications, including OLED, PCB, ceramic and glass cutting.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Traditional Micromachining Market Report by Segment
- Global Traditional Micromachining Market by Process
o Additive
o Subtractive
o Others
- Global Traditional Micromachining Market by Axis
o 3-Axes
o 4-Axes
o 5-Axes
o Others
- Global Traditional Micromachining Market by End-use Industries
o Automotive
o Semiconductor
o Aerospace and Defense
o Medical and Aesthetics
o Telecommunications
o Power and Energy
o Plastics and Polymers
o Others
- Global Traditional Micromachining Market by Material
o Metals and Alloys
o Polymers
o Glass and Quartz
o Ceramics
o Others
Global Traditional Micromachining Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global traditional micromachining market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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