"Catapult Your Business to Fore, Gain Competitive Advantage "

Laser Micromachining Tools Market Size, Share & COVID-19 Impact Analysis, By Application (Drilling, Cutting & Milling, Marking & Engraving, Scribing, Texturing & Patterning, Structuring, and Others), By Process (Additive and Subtractive), By End-User (Automotive, Aerospace and Defense, Medical and Pharmaceutical, Electronic Products, Optoelectronics and Photonics, and Others), and Regional Forecast, 2023-2030

Region : Global | Format: PDF | Report ID: FBI108715

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global laser micromachining tools market size market was valued at USD 324.06 million in 2022. The market is projected to grow from USD 332.13 million in 2023 to USD 476.92 million by 2030, exhibiting a CAGR of 5.3% during the forecast period.


Laser micromachining is a process that involves generating fine structures ranging from a few microns to a few hundred microns. These machines are utilized for various applications, including drilling, cutting, milling, marking, texturing, and structuring. Due to their broad range of applications across diverse sectors such as automotive, consumer electronics, aerospace and defense, optoelectronics, and photonics, there is an expected increase in the demand for laser micromachining tools.



  • For instance, according to the International Energy Agency, the demand for electric cars has tripled between 2020 and 2022 and is projected to witness strong sales in the future.


Similarly, electronic products such as mobile devices and industrial robots are significant contributors to the market growth of laser micro-machining tools due to precise material processing in various applications.


Micromachining systems utilizing laser technology are strongly propelled by their innovative and emerging applications across various sectors. The increasing adoption of industrial automation and the demand for robotics across various end-use industries are boosting the demand for laser-based micromachining tools. This is expected to further enhance the laser micromachining tools market share across diverse industry sectors. The ongoing trend of miniaturization of systems and components such as solar cells and PCBs is increasing the need for precise components, consequently driving the growth of laser technology for microstructures. Several projects and substantial investments are directed toward emerging technologies such as solar and other environmentally friendly sectors.



  • For instance, the U.S. government initiated approximately 19 projects related to the solar supply chain with an investment of about USD 80 million in 2023. These projects were funded to strengthen the domestic solar power supply, supporting the manufacturing of solar panels and other technologies.


Ultimately, this will contribute to the growth of this market across different regions.


COVID-19 IMPACT


Temporary Halt in Manufacturing Facilities Negatively Impacted Market amid Pandemic


The outbreak of the pandemic resulted in a slowdown in manufacturing processes, subsequently decreasing the demand for laser micromachining tools. The rapid spread of the COVID-19 virus across various regions disrupted the supply chain due to trade barriers among countries. Temporary closures in manufacturing processes led to delays in material supplies, and manufacturers faced issues related to the supply chain, causing a slowdown in the market.


However, the market is expected to exhibit positive growth in the future due to the expanding range of applications in medical devices, automotive products, consumer electronics, watches, jewelry, and optical devices. Manufacturing companies are focusing on providing an extensive range of micromachining tool solutions with shorter cycle times and faster material processing.



  • For instance, In August 2021 BOLD Laser Automation introduced its new series of laser micromachining tools, named LMM500, designed for medical and 3D printing applications. These laser cuts are used for the drilling or milling of materials. The precise micromachining of various materials is driving the growth of laser micro-machining tools across different regions.


LATEST TRENDS


Precise Applications in Automation and Robotics are Surging Market Growth for Micromachining Tools


Industry 4.0 is poised for substantial growth due to the increasing trend toward smart factories, enhanced production capacities, and process optimization. Manufacturing facilities are driving the demand for IoT (Internet of Things) devices and other hardware solutions, creating a strong need for precise material processing. According to the International Federation of Robotics, the demand for service sector robots grew by 37% in 2021 worldwide and is projected to continue showing strong market growth. Rising robotics applications across a wide range of industries are generating demand for miniaturized products and smaller components for the machining process.


The need for smaller components and hardware solutions in automation and robotics applications is creating a significant demand for material drilling, cutting, texturing, and structuring. The adoption of new technologies and the evolving landscape of material types, such as hard alloys and others, are expected to further boost the market. Key market players are consistently introducing innovations to the market, increasing the output and reducing the cycle times of the machines. Additionally, ultrafast lasers are gaining a strong market presence in industrial applications for laser micromachining.


Request a Free sample to learn more about this report.


DRIVING FACTORS


Consumer Electronics is Surging the Demand for Laser Micromachining Tools


Consumer electronic products and devices, such as mobile phones, television sets, radios, telephones, and other electronic devices, are experiencing growth across various regions. According to industry experts, the revenue generated from consumer electronic devices is expected to grow by approximately 12% over the next five years. Furthermore, the pandemic has further boosted the usage of electronic appliances, and this trend is projected to continue at a rapid pace.


Laser technology-based micromachining tools find extensive applications in microdevices and materials due to their flexibility and accuracy. The growing demand for smaller-sized products is creating a need for miniaturized products, driving the demand for micro-drilling, marking, cutting, welding, and engraving. The increasing demand for the Internet of Things (IoT) is exponentially boosting the market for electronic components, especially in emerging economies. These factors are expected to contribute to the laser micromachining tools market growth over the projected period.


RESTRAINING FACTORS


Higher Initial Cost and Complex Technology Hinders Market Growth  


Laser micromachining necessitates a substantial initial investment in equipment and other components, potentially acting as a barrier for medium and small-scale manufacturing companies. The process involves a higher number of fabrication steps, thereby increasing the initial investment cost. Furthermore, operating laser micromachining tools requires adherence to safety protocols and a skilled workforce to prevent accidents and maintain a safe working environment.


SEGMENTATION


By Application Analysis


Cutting & Milling Cater to More Than One-Third of the Market Owing to its Rising Application in Various Sectors  


Based on application, the market is categorized into drilling, cutting and milling, marking and engraving, scribing, texturing and patterning, structuring, and others. Other segments include gratings and contouring.


Cutting and milling application dominates the market growth for micromachining tools. Advancements in technology and across several industries, micro hole, and cut parts are largely used in sectors including automotive, medical, aviation, electronics, and other sectors. With the increasing miniaturization of hardware components, there is an increasing trend towards the micromachining process by laser technology, creating significant demand for laser micromachining tools for cutting and milling applications. Cutting and milling applications contribute to about 36.0% of the total market revenue.


Applications such as marking and engraving, scribing, texturing and patterning, and others are further gaining traction because of an increasing trend for the manufacturing of microelectronics, semiconductors, and medical devices. Growing production of semiconductor devices and solar cells is anticipated to create market growth for laser micromachining tools.


By Process Analysis


Subtractive Manufacturing Segment Favored for Fine Finishes and Wide Applications in Part Fabrication


Based on the process, the market is categorized into subtractive and additive. The subtractive segment is expected to dominate the market by catering to a larger market share compared to additive manufacturing. Subtractive manufacturing provides fine surface finishes and high-speed material processing, enhancing the overall efficiency of the manufacturing process. It finds extensive applications in fabricating finished parts, making it a preferred choice for manufacturers. The subtractive process enables higher volume production and increased flexibility for manufacturing products like jigs, tooling, fixtures, molds, and brackets.


On the other hand, the additive process offers high accuracy and detailed resolution for a wide range of materials such as steel, titanium, and gold. Due to its wide range of applications in industrial manufacturing, including the medical device industry, jewelry, and watchmaking, the demand for the additive process is expected to remain steady over the forecast period.


By End-User Analysis


To know how our report can help streamline your business, Speak to Analyst


Electronic Products Segment Paces Market Growth, Fueled by Technological Advancements


By end-user, the market is segmented into automotive, aerospace and defense, medical and pharmaceutical, electronic products, optoelectronics and photonics, and others. Electronic products are projected to lead market growth, followed by the automotive sector. The electronic products segment dominated the market in 2022. Electronics manufacturing is expected to witness steady growth in both industrial and personal domains. Several trends in the manufacturing of electronic products, such as the Internet of Things, virtual reality, augmented reality, 3D printing, and industrial robotics, are among the prominent driving factors for precise manufacturing and the micromachining process. These growing trends are all contributing to the demand for laser micromachining tools utilizing laser technology for precise and accurate surface finishing of materials.


Electrification of the automobile is gaining market trends across geographies. An increase in sales of electric vehicles, e-mobility, and connectivity is creating a strong market growth for vehicle components and battery production. Laser welding is a crucial process for battery cell production, module creation, and battery assembly as it aids in improving battery efficiency. Therefore, high demand for EVs is further estimated to create a strong market for vehicle components, impacting the market growth for the micromachining tools market.


These tools find applications in sectors such as medical devices, optical devices, the aviation and defense sector, as well as watches and jewelry. With the steady growth of these sectors, the demand for these tools is expected to show moderate growth.


REGIONAL INSIGHTS


The market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.


North America Laser Micromachining Tools Market Size, 2022 (USD Million)

To get more information on the regional analysis of this market, Request a Free sample


North America led the market share in 2022, followed by Europe, where there is a rising demand for smart vehicles and consumer electronic devices across emerging and developed countries of the region. North America dominates the market growth owing to the rise in manufacturing plants and domestic manufacturing of batteries and electric vehicles. Several automotive manufacturing companies are investing in new manufacturing facilities to meet the increasing customer needs. Along with EV production facilities, strong market growth is observed in electronics manufacturing across developed and emerging countries. For instance, due to political challenges and trade complications with China, manufacturing companies are shifting their production facilities to Mexico due to the logistics advantage, availability, and reduced cost of the workforce. This shift is creating significant market growth in the region.


U.S. Holds a Strong Market Share Owing to Increasing Investment in the Automotive Sector


The U.S. is primarily focusing on expanding its manufacturing plants for vehicles and batteries as the demand for electric vehicles rises across other economies. OEM manufacturers are making substantial investments in production facilities, supported by favorable regulations and incentives, which are driving the demand for EVs. For instance, companies such as Ford, Hyundai, and Rivian collectively invested about USD 33 billion in EV and battery manufacturing in 2022.


Industry experts predict that electronics manufacturing will show strong growth prospects over the forecast period due to increasing investments in technologies such as robotics, Augmented Reality, and other electronic devices. Additionally, the pandemic and political pressures are encouraging the growth of domestic production activities, generating significant demand for micromachining tools. Several market participants, including IPG Photonics, Coherent Inc., Makino, and AMADA Weld Tech, are striving to gain a larger market share.


To know how our report can help streamline your business, Speak to Analyst


Europe is expected to lead the market growth after North America, with demand anticipated to remain steady during the forecast period. Laser micromachining tools find applications in PCBs, integrated circuit packaging, lithography masks, and sensor trimming. These specialized activities are expected to show moderate growth in European countries, driving market growth for these tools.


Laser micromachining is gaining a significant presence and replacing conventional micromachining techniques, such as Electrical Discharge Machining (EDM), to produce sharp and fine-surfaced materials. Asia Pacific shows high growth prospects due to increasing demand for consumer electronics, optoelectronics, and electric vehicle manufacturing. Asian countries such as China, India, and Japan are moving toward the electrification of the automotive and other sectors such as optoelectronics and consumer electronics. Companies are establishing semiconductor-based device manufacturing facilities for industrial utility applications. For instance, STMicroelectronics and Sanan Optoelectronics signed an agreement in September 2023 to produce silicon carbide devices in Chongqing, China. The increasing preference toward EV manufacturing and optoelectronics device production across emerging economies such as India and Indonesia is projected to generate demand for micromachining tools with laser technology.


The Middle East & Africa is expected to show significant market growth due to rising investments and a focus on the establishment of manufacturing facilities. South American countries such as Brazil are constantly focusing on expanding their electronics manufacturing to boost the economy. Several multinational companies are looking to establish their manufacturing facilities to gain a competitive advantage over other key participants.


KEY INDUSTRY PLAYERS


Global Market Witnesses Fierce Competition as Key Players Ramp up Product Portfolio Expansion


Key market participants are striving to introduce new products in a competitive market to penetrate the global market. Domestic startup companies are increasing their funding to enhance their market presence. AMADA Weld Tech, Coherent Inc., IPG Photonics, 3-D Micromac, and GF Machining Solutions are a few of the prominent players focusing on expanding their product portfolios through product launches and collaboration strategies. Several manufacturing companies are making efforts to enter the market with their wide range of product offerings.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • September 2022: The LASEA Group acquired a France-based organization, CHEVAL, which specializes in designing and manufacturing products and solutions for laser micro-cutting applications. The LASEA Group expects to expand its product portfolio and increase its market reach.

  • May 2021: 3-D Micromac AG launched a new product named microCETI, a laser micromachining platform that aids in D laser processes in microLED display manufacturing with accurate and high-precision material processing.

  • December 2020: Aerotech US introduced its multi-axis laser micromachining system for manufacturing processes for its applications in a wide range of industries. The laser micro-machine provides micro-cutting for medical devices and electronic products.

  • July 2019: 3D-Micromac introduced its laser micromachining systems named microSHAPE laser systems for processing and flat substrates at the Laser World of Photonics held in Germany

  • January 2019: LASEA launched a 7 axis laser micromachining solution based on a femtosecond laser for its applications in a wide range of sectors, such as optoelectronics and medical device manufacturing.


REPORT COVERAGE


The report offers detailed information regarding various insights into the market. Some of these include growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further provides an analytical depiction of the market, current laser micromachining tools market trends, and estimations to illustrate the forthcoming investment opportunities. The market is quantitatively analyzed from 2023 to 2030 to provide financial competency insights. The information gathered in this report has been sourced from several primary and secondary sources.


An Infographic Representation of Laser Micromachining Tools Market

To get information on various segments, share your queries with us



Report Scope & Segmentation










































ATTRIBUTE



DETAILS



Study Period



2019 – 2030



Base Year



2022



Estimated Year   



2023



Forecast Period



2023 – 2030



Historical Period



2019 – 2021



Growth Rate



CAGR of 5.3% from 2023 to 2030



Unit



Value (USD million)



Segmentation



By Application



  • Drilling

  • Cutting & Milling

  • Marking & Engraving

  • Scribing

  • Texturing & Patterning

  • Structuring

  • Others (Gratings)


By Process



  • Additive

  • Subtractive


By End-User



  • Automotive

  • Aerospace and Defense

  • Medical and Pharmaceuticals

  • Electronic Products

  • Optoelectronics and Photonics

  • Others (Watchmaking and Jewelry)


By Region



  • North America (By Application, Process, End-User, and Country)

    • U.S. (By End-User)

    • Canada (By End-User)

    • Mexico (By End-User)



  • Europe (By Application, Process, End-User, and Country)

    • U.K. (By End-User)

    • Germany (By End-User)

    • Italy (By End-User

    • France (By End-User)

    • Spain (By End-User)

    • Russia (By End-User)

    • Rest of Europe



  • Asia Pacific (By Application, Process, End-User, and Country)

    • China (By End-User)

    • India (By End-User)

    • Japan (By End-User)

    • South Korea (By End-User)

    • Rest of Asia Pacific



  • Middle East and Africa (By Application, Process, End-User, and Country)

    • South Africa (By End-User)

    • Turkey (By End-User)

    • GCC (By End-User)

    • Rest of the Middle East & Africa



  • South America (By Application, Process, End-User, and Country)

    • Brazil (By End-User)

    • Argentina (By End-User)

    • Rest of South America





 


Frequently Asked Questions

Fortune Business Insights says that the market stood at USD 324.06 million in 2022.

Fortune Business Insights says that the market will reach USD 476.92 million in 2030.

Growing at a CAGR of 5.3%, the market will exhibit strong growth during the forecast period.

Growing demand for consumer electronics and electric vehicles to boost the growth of laser-based micromachining tools.

IPG Photonics, Coherent Inc., and AMADA Weld Tech. are a few of the prominent players in the market.

North America dominates the market growth for laser-based micromachining tools, followed by Europe.

The cutting and milling segment is expected to hold about 36.0% market share.

Electronic products held the largest market share in 2022.

Robotics and EV manufacturing to boost precise manufacturing, creating strong market traction across several geographies.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Dec, 2023
  • 2022
  • 2019-2021
  • 180

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $6850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Machinery & Equipment Clients

Honda
Krones
Mckinsey
BASF
Toyota

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X