Micromachining Market 2021 Size, Growth Analysis Report, Forecast to 2027

The global micromachining market size was valued at $2.51 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 7% from 2021 to 2027. Micro components in industries such as automotive, medical, consumer electronics, medical and aerospace. As production technology advances, the time required to manufacture parts has been shortened, further accelerating market growth. Besides, various companies in the manufacturing sector such as Johnson Matthey and Tekniker have been shown to favor laser-based materials over traditional micromachining, which is a good sign for market growth.

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Micromachining Market Segments:

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)

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• We cover more than 15 major industries, further segmented into more than 90 sectors.
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)