Multi-access Laser Micromachining Market Size, Share, Growth, and Industry Growth by Type (Multi-Axis Low Power Micromachining and Multi-Axis High Power Micromachining) By Application (Drilling, Marking, Cutting, Welding, Shaping and Others) Regional Forecast To 2032

Updated On: 08 July 2024

Multi-access Laser Micromachining Market Report Overview

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The global multi-access laser micromachining market size was valued USD 101 million in 2022 and market is expected to reach USD 276.85 million in 2032, growing at a revised 9.6% CAGR in this forecast period

The accuracy of multi-access laser micromachining makes it useful in highly specialized sectors. The use of the application is widespread in the production of aerospace, automotive, petrochemical, medical, and military-grade products. The machine's range of possible uses is expanded by the multi-access laser micromachining system. The multi-access laser micromachining industry is growing at a faster rate because improved accuracy necessitates less material movement. In many cars' fuel injection systems, fuel injector nozzles are employed. This fuel injection method not only increases a vehicle's fuel efficiency but also reduces fuel consumption. The EDM procedure is primarily used to micromachine fuel injector nozzles. In the automobile sector, flawless welding and bonding for a variety of vehicle components are both frequently done using laser multi-access laser micromachining technology.

COVID-19 Impact: Stringent Regulations and Government Rules to Hinder the Market

COVID-19 has compelled several countries all around the world to enact stringent regulations that limit the movement of individuals. One of these measures was the Singaporean government's "Circuit Breaker" activation, which forced the closure of businesses and educational institutions. Some of the biggest companies in the market, like Makino and Georg Fischer, Ltd., have seen their manufacturing capacity impacted by these government rules. These players had, however, submitted exemption requests to protect their supply chains from the effects of lockdowns. Makino Asia, for instance, has submitted a request for clearance to be excluded from the suspension of commercial operations. The business has now been allowed to resume production as a result.

LATEST TRENDS

"Increase in Consumer Awareness to Augment the Market Growth"

Events like the international conference on multi-access laser micromachining, which have increased in frequency in recent years, have helped to boost consumer awareness. The expansion of the market is being accelerated by the rising use of multi-access laser micromachining for the production of precision instruments.

Furthermore, laser device producers are concentrating on the creation of ultrafast lasers for multi-access laser micromachining applications, which has accelerated market expansion. For instance, NKT Photonics A/S and Oxide Corporation have formed a cooperation to integrate their technology in order to develop and produce a variety of ultraviolet and deep ultraviolet ultrafast lasers.

Multi-access Laser Micromachining Market Segmentation

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• By Type Analysis

By type, market is segmented into multi-axis low power micromachining and multi-axis high power micromachining. The multi-axis low power micromachining segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into drilling, marking, cutting, welding, shaping and others. The drilling segment will lead the global share through 2028.

DRIVING FACTORS

"Development of Machine and IoT to Propel the Demands"

Opportunities for manufacturers are being created by the expanding use of tiny components in extremely complex constructions. The speedy manufacture of micro components and the reduction in manufacturing time are both results of the integration of these technologies with Computer-Aided Manufacturing (CAM). New capabilities, including an app that provides system status updates to operators or supervisors on their smartphones or PCs, have been made possible by the development of machine learning and Internet of Things (IoT) technology. This has had a favorable effect on market growth. The managers may make proactive decisions thanks to these characteristics, which also increase the unit's output.

"Demand in Aerospace, Automotive, Healthcare and Consumer Sectors to Boost the Market"

The use of these systems for the production of micro-components in sectors including aerospace, automotive, healthcare, consumer electronics, and health is what is driving the expansion. The market expansion has been further accelerated by the decreasing time required for component manufacture as a consequence of the rising developments in production technology. Additionally, a number of manufacturers, like Johnson Matthey and Tekniker, have demonstrated a preference for laser-based material over conventional multi-access laser micromachining, which is encouraging for market expansion.

RESTRAINING FACTORS

"High Cost and Lengthy Process to Restrain the Market Demand"

Despite a rise in demand for these systems across a number of industries, market growth is predicted to be severely impacted by the high cost of these systems. The lengthy and intricate process of repeatedly depositing thin films on the wafer and the increased number of manufacturing processes are to blame for the high price.

Multi-access Laser Micromachining Market Regional Insights

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"Asia Pacific to Hold the Largest Global Multi-Access Laser Micromachining Market Share"

The largest market share belonged to Asia Pacific. Growth in the area is fueled by the presence of some of the biggest producers of automotive components, including China, India, and South Korea. Fuel injectors, car sensors, and electrical assemblies are a few examples of significant automotive parts that are produced utilizing multi-access laser micromachining. The development of new multi-access laser micromachining facilities in the area that has fueled the segment's expansion is a focus for a number of businesses. Leading laser-based micromachining equipment makers, for instance, have launched facilities in Mumbai (India). An enhanced understanding of technology is also seen.

The area is anticipated to grow at the highest CAGR throughout the projected period since European nations like Germany, Italy, and France are home to some of the biggest automakers. In the same year, Germany, for instance, manufactured around a million vehicles and exported thousands of them. The need for micromachined components has also grown, and it is anticipated that this would help the regional industry expand even faster in the energy and railway industries. A swift transition to new machining methods and materials is also being made by manufacturing firms in the area in the die and mold, automotive, aerospace, and healthcare sectors.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• 3D-Micromac AG (Germany)
• M-SOLV (UK.)
• Lasea (Belgium)
• IPG Photonics Corporation (U.S.)
• Electro Scientific Industries (U.S.)
• 4JET microtech GmbH (Germany)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.