NEW YORK, June 16, 2022 /PRNewswire/ -- As per Zion Market Research study, The global electrical discharge machine market was valued at nearly USD 5.91 billion in 2021 and is expected to increase to nearly USD 8.21 billion by 2028, with a CAGR of around 7.2 percent over the forecast period.
Key Industry Insights & Finding of the Electrical Discharge Machine Market Reports:
- As per the analysis shared by our research analyst, the Electrical Discharge Machine Market is expected to grow annually at a CAGR of around 7.2 % (2022-2028).
- Through the primary research, it was established that the Electrical Discharge Machine Market was valued approximately USD 5.91 Billion in 2021 and is projected to reach to roughly USD 8.21 Billion by 2028.
- The domination of the European market is mainly linked to the significant expansion of end-use sectors such as automotive and aerospace, as well as the resulting boost to the region's tool-making industry.
- The tools and molding industry is undergoing a positive response in terms of revenue and exports, as per the Machining Association (ISTMA) and International Special Toolin, as companies in European countries such as Portugal invest heavily in new technologies to ensure flexible solutions to their clients.
- Asia Pacific on the other side is expected to offer more lucrative growth opportunities for the market expansion.
Zion Market Research published the latest report titled as "Electrical Discharge Machine Market By Type (Sinker EDM, Wire EDM), By Application (Die Making, Mold Making, Hole Drilling, Others), By End-User Industry (Manufacturing, Energy & Power, Electrical & Electronics, Healthcare, Automotive), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 - 2028." into their research database.
Electrical Discharge Machine Market: Overview
EDM is a thermal method that uses cyclic discharge sparks in the space between an electrode and a conductive surface to remove undesired material. This approach is commonly used to process refractory metals and composite materials that are difficult to machine using traditional machining methods. Only electrically conductive materials can be processed by EDM. EDM, for example, can remove metallic materials such as Ti alloys, hardened steel, and superalloys quickly and without the need for pretreatment like thermal softening. EDM is now used in the eroding of PCBN, ceramic materials, and PCD, which considerably boosts the material removal rates of these difficult-to-machine materials.
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Industry Dynamics:
Electrical Discharge Machine Market: Growth Drivers
- Increasing need for precision in diverse component manufacturing may boost the market growth over the forecast period.
Due to changing component quality requirements and changes in industry standards, the manufacturing sector is evolving at a rapid rate. This is pushing industry participants to adapt and employ electric discharge machines for production applications such as wire cutting, manufacturing of highly precise gears & components, and precision machining of particular parts. Over the projected period, this aspect will drive market expansion. Furthermore, the skill gap is developing among workers who want to expand and improve their technical knowledge by using high-durability, high-quality materials to produce a product that meets industry requirements. As a result, this aspect is also helping to fuel demand for this equipment, resulting in a boom in market growth. Moreover, market participants are active and engaging in the market by developing new and improved goods to meet the growing demand from various end-user industries, hence strengthening their market position and contributing to market growth. For instance, GF Machining Solutions, which manufactures and sells engineering solutions to a variety of end-user sectors, unveiled the debut of their new product, the "Agie Charmilles Cut P 500 Pro Wire-Cutting EDM," in 2019.
Electrical Discharge Machine Market: Restraints
- Disadvantages with the EDM may hamper the market growth.
Because the wire cut EDM technique eliminates material with electrical charges, it can only be used on workpieces that are electrically conductive. Due to this EDM cannot be utilized to machine composite or dielectric materials. When using wire EDM cutting with certain metals, a film of oxide can form on the cut surface, which needs to be wiped to retain optimal quality. Components and parts that cannot be held securely without sacrificing their form are also a challenge for electric discharge machining. Delicate tube sections, for example, might bend while being secured for EDM cutting, causing extra quality difficulties and disrupting production. These factors are likely to hamper the global electrical discharge machine market growth.
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Global Electrical Discharge Machine Market: Opportunities
- Increasing demand from medical device manufacturers offers a better growth opportunity for the expansion of the market.
The fact that the cutting wire never contacts the workpiece means that there are no stresses introduced into the component is a major benefit of the EDM process. As a consequence, medical device makers may utilize EDM to create slots, grooves, and eyelets in machined parts while putting the least amount of stress on them. EDM's high-quality finish is another advantage. Wire cutting produces smooth, burr-free surfaces while maintaining tight tolerances. Wire EDM may also be used to manufacture very tiny eyelets and through-slots in medical devices, which are impossible to machine with conventional centers. These factors are strongly supporting the use of EDM in the medical device manufacturing industry.
Global Electrical Discharge Machine Market: Challenges
- Electrical discharge machine is a more expensive process compared to turning or milling posing a challenge to market growth.
The overall EDM process adds extra cost to the product due to the slow rate of material removal and the additional cost and time used for producing electrodes for Sink or Ram EDM. Also, reproducing sharp corners on the workpiece is difficult due to electrode wear. These factors add extra cost to the process which poses a major challenge to the use of EDM in small-scale industries.
Global Electrical Discharge Machine Market: Segmentation
- The global electrical discharge machine market is segregated based on type, application, end-user, and region.
Based on type, the market is categorized into sinker EDM and wire EDM. By application the market is bifurcated into mold making, die making, hole drilling, and others. The end-User segment of the market is divided into energy & power, manufacturing, automotive, electrical & electronics, and healthcare.
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List of Key Players of Electrical Discharge Machine Market:
- Adron Tool Corporation
- AAEDM Corporation
- Excetek Technologies Co.Ltd.
- Accutex Technologies Co.Ltd.
- GF Machining Solutions Management SA
- OSCARMAX EDM
- Mitsubishi Electric Corporation
- and Kent Industrial USA Inc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Electrical Discharge Machine Market?
- What are the key driving factors propelling the Electrical Discharge Machine Market forward?
- What are the most important companies in the Electrical Discharge Machine Market Industry?
- What segments does the Electrical Discharge Machine Market cover?
- How can I receive a free copy of the Electrical Discharge Machine Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 5.91 Billion |
Revenue forecast in 2028 | USD 8.21 Billion |
Growth Rate | CAGR of almost 7.2 % 2022-2028 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2022 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Adron Tool Corporation, AAEDM Corporation, Excetek Technologies Co., Ltd., Accutex Technologies Co., Ltd., GF Machining Solutions Management SA, OSCARMAX EDM, Mitsubishi Electric Corporation, and Kent Industrial USA, Inc. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. https://www.zionmarketresearch.com/custom/3323 |
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Recent Developments:
- In October 2021, GF Machining Solutions promoted EDM technologies to assist manufacturers to boost productivity and precision. These EDM machines for die-sinking and wire-cutting, as well as strong solutions for the mold and die sector, provide operational accuracy, excellent component quality, and automated choices.
- In Oct 2021, Beaumont Machine offered Small Hole EDM to SpaceX. SpaceX, a new customer for Beaumont Machine, has a new Beaumont small hole machine with an eight-foot diameter and eight-foot height reach.
Regional Dominance:
- Europe to lead the global market during the forecast period.
The global electrical discharge machine market is dominated by North America and Europe. The domination of the European market is mainly linked to the significant expansion of end-use sectors such as automotive and aerospace, as well as the resulting boost to the region's tool-making industry. The tools and molding industry is undergoing a positive response in terms of revenue and exports, as per the Machining Association (ISTMA) and International Special Toolin, as companies in European countries such as Portugal invest heavily in new technologies to ensure flexible solutions to their clients. Asia Pacific on the other side is expected to offer more lucrative growth opportunities for the market expansion. This is due to the rising industrial base backed by the increased use of automation across various sectors in countries such as India, China, Japan, and Australia.
Global Electrical Discharge Machine Market is segmented as follows:
Electrical Discharge Machine Market: By Type Outlook (2022-2028)
- Sinker EDM
- Wire EDM
Electrical Discharge Machine Market: By Application Outlook (2022-2028)
- Die Making
- Mold Making
- Hole Drilling
- Others
Electrical Discharge Machine Market: By End Users Outlook (2022-2028)
- Manufacturing
- Energy and Power
- Electrical and Electronics
- Healthcare
- Automotive
Electrical Discharge Machine Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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