At a CAGR of 6.2%, the Micromachining Market Size is predicted to increase from USD 2.4 billion in 2020 to USD 3.3 billion by 2025. The desire for smaller electronic devices and the preference for laser-based micromachining over conventional methods are the key factors driving the micromachining industry's expansion.
Several of the largest businesses operating in the global Micromachining Market include 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), Han's Laser Technology Industry Group Co., Ltd (China), Electro Scientific Industries, Inc. (US), IPG Photonics Corporation (US), There are numerous additional businesses, such as OMAX CORP. (US), 3D Micromac (Germany), Lasea (Belgium), Posalux SA (Switzerland), SCANLAB GmbH (Germany), Tornos S. A. (Switzerland), Swisstec 3D Akus AG (Switzerland), Kugler GmbH (Germany), and GFH GmbH (Germany).
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The market for micromachining was led by COHERENT. The business offers a portfolio of micromachining products with a laser technology focus for usage in microelectronics, materials processing, OEM components, and instrumentation. The company provides a variety of laser solutions, including fibre lasers, gas lasers (CO, CO2, excimer, ion), optically pumped semiconductor lasers (OPSL), ultrafast (UF) lasers, semiconductor lasers, and diode-pumped solid-state lasers (DPSS). The company has concentrated its laser-based micromachining offering and as a result, it has a wide range of laser-based products. Additionally, the company generates more than 80% of its sales from markets other than the US, indicating that it has a significant global presence.
In the world market for micromachining, Makino came in second. The business sells high-quality metal cutting and EDM machines, such as wire and sinker EDMs, vertical and horizontal machining centres, 5-axis machining centres, and centres for graphite. Asia, the Americas, and Europe all have a presence for the company. The company's micromachining services include superior spindle temperature control, sturdy machine architecture, and novel EDM innovations. The micromachining apparatus has machining and repeatability capabilities. The business is strong in the Micromachining Market thanks to its extensive wire EDM product portfolio.
Third place in the global micromachining market was held by Han's Laser. The business provides 3D printers, collaborative robots, CNCs, gap & step inspection machines, laser marking, laser welding, and laser cutting equipment. The company provides services to the automotive, metal, electronics & semiconductor, and packaging industries. The company's micromachining products are employed in UV laser depaneling, laser marking, laser decoating, laser wire stripping, and wafer laser marking.
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