Electrical Discharge Machine Market Trends, Demand, Growth, Value & Analysis Report by Zion Market Research
SUITE N202, NEW YORK, UNITED STATES, January 11, 2023 /EINPresswire.com/ — 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.
Electrical Discharge Machine Market’s also known as spark eroders, die sinkers, spark machines are used in metal fabrication processes to achieve desired metal shape using sparks. Undesired material is removed by rapidly recurring current discharges between electrodes which are separated by a dielectric liquid and are subjected to an electric voltage.
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The global electrical discharge machine market has a heavy presence in industries like aerospace, automotive, defense, healthcare, and manufacturing where E.D.M is extensively used to create desired metal structures.
The global market was negatively impacted by the spread of Covid-19 because of the restrictions laid down by governments and the closure of manufacturing units. The last 2 years have witnessed a slight decline in the automotive industry but the demand from the healthcare sector increased thus reducing the impact of Covid-19 on the global market.
The healthcare sector globally is witnessing a significant rise and this is expected to propel the global electrical discharge machine market forward. There is a rising trend in the defense sector because of current political unrest. The automation industry is also registering a steady growth trajectory aided by the variations in automotive products like automotive exterior & interiors, plastic modifiers, tires, etc. All of these reasons are anticipated to further the global market growth. The emerging growth scenario in cloud computing and the invention of technology like IoT as well as increasing demand for E.D.M to cut heavy metals like titanium is a major contributing factor in the global market growth. The ever-growing aerospace industry has a high demand for E.D.M which coupled with the rise in the launching of new products is projected to push the global market forward.
Global Electrical Discharge Machine Market
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 and this is projected to restrain the global market growth. However, increasing demand from medical device manufacturers may provide for growth opportunities while simultaneously the expensive nature of E.D.M in comparison to milling may create challenging situations in the global market.
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.
The global electrical discharge machine market is expected to be led by Europe and North America owing to increased investments in aerospace, healthcare, and automotive industry in these regions. North America is leading the aerospace sector whereas Europe leads the automotive sector. The healthcare sector in both regions is highly developed thus propelling the regional market growth during the forecast period. Europe is anticipated to come out as the better market player because of the increased entry of key market players in the region.
Asia-Pacific is expected to register a high CAGR in the coming years because of the large-scale availability of space to set up manufacturing units in the regions along with the presence of skilled labor at favorable prices. Economies like China, Japan, India, and Singapore have witnessed a growing application of electrical discharge machines and this is expected to assist the regional market growth. The Middle East is expected to register steady growth whereas Africa is expected to register slow growth during the forecast period.
Major players operating in the global electrical discharge machine market include 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.
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.
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Global electrical discharge machine market is segmented as follows:
Energy and Power
Electrical and Electronics
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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