Edm Wire Market 2028

With a rise in disposable income and an improved standard of living, the demand for electronics and automobiles is increasing gradually. Due to this, the production of appliances and automobiles is increasing rapidly, fueling the demand for electrical discharge machining (EDM) wires. The most common types of EDM wires are brass or coated wire. The EDM wire produces an electrical discharge between the work metal and EDM machine’s wire. Key features such as no impact cutting, high tolerances, ability to cut complex shapes easily, fast processing, and cost-effective approach are contributing to the growth of EDM wire. Also, EDM wire can work without requiring mechanical force and gives high accuracy and precision. Moreover, as EDM wire efficiently accommodates hard materials, post-machining thermal treatments are not required. Because of mentioned features, EDM wires are suitable for applications demanding low residual stress. EDM wire is a robust, reliable as well as user-friendly approach used for making molds, dies, and punches rising the demand for EDM wires in the market.

According to our latest market study on "EDM Wire Market Forecast to 2028 –Global Analysis – by Wire Type and Industry," the market is expected to grow from US$ 2,356.92 million in 2022 to reach US$ 3,450.17million by 2028; it is anticipated to grow at a CAGR of 6.6% from 2022 to 2028.

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The Middle East & Africa EDM wire market size is further segmented into South Africa, Saudi Arabia, and the UAE. The EDM wire market growth in this region is attributed to the proliferating automotive industry. The Gulf region is home to more than 2 million vehicles, consisting of light, medium, and heavy commercial vehicles. The increasing domestic demand for high-end cars and a robust logistics sector in Dubai are the key contributors to the EDM wire market growth in Middle East & Africa. According to the Dubai Chamber of Commerce and Industry, Dubai’s value of export and re-export of vehicles surged by 21.8% year-on-year in 2021, reaching US$ 40.10 billion.

Key Findings of Market Study:

As per the market analysis, the leaders such as Oki Electric Cable Co., Ltd.; Sumitomo Electric; Hitachi Metals; and Novotec BV have a good market share. The above-mentioned leaders are engaged in the business of providing broad portfolio of data converters for varied applications including aerospace, automotive, healthcare and many more. These leaders have a leverage of well-maintained brand image spread across the globe, vast product line, and positive word of mouth, as well as strong portion of revenue generation from Brass, Zinc-coated, and any other EDM wires. Such parameters have positioned the said EDM wire players within leader’s quadrant.

The EDM wire market is experiencing footprints of new businesses to cater the demand rising from manufacturing, healthcare, automotive, aerospace, and electronics sector. Companies such as Excetek is exploring the dynamic industrial sector using EDM wires. This will help new startups to gain more customers and generate revenue. The EDM Wire market analysis has been carried out on the basis of wire type and industry. Based on wire, the EDM wire market is segmented into brass, zinc-coated and non-coated. On the basis of industry, the global EDM wire market is segmented into aerospace, industrial & general mechanics, automotive, healthcare, electronics and others.

Fabrication of components and parts used in the automotive and aerospace industries, manufacturing of extrusion dies and blanking punches, small hole drilling on soft/hard metals, and prototypes or molds of concept builds are a few prominent applications of EDM wires. In addition, areas demanding low residual stress and requiring the volume production of components, such as spare parts, use EDM wire. The use of the wire enables manufacturers to develop complex shapes from stainless, titanium, tool steel, steels, and other hard alloys. Therefore, the rising manufacturing of small or intricate components, complex shapes, or parts demanding narrow slots is creating the demand for EDM wires.

Asia Pacific is expected to register the highest CAGR in the EDM wire market during the forecast period. Based on country, the market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. In 2022, China is the dominating country with largest market share and Japan holds the second-largest EDM wire market share in Asia Pacific.

Berkenhoff GmbH; Hitachi Metals, Ltd.; Novotec BV; Opecmade Inc.; Oki Electric Cable Co., Ltd.; Sumitomo Electric Industries, Ltd.; Thermo Compact; Yuang Hsian Metal Industrial Corp.; Ningbo Kangqiang Micro-Electronics Technology Co., Ltd; and JIA BAO Metal Co., Ltd. are among the players operating in the global EDM wire market and profiled in the report study.

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global EDM wire market.

• Highlights key business priorities in order to assist companies to realign their business strategies

• The key findings and recommendations highlight crucial progressive industry trends in the global EDM wire market, thereby allowing players across the value chain to develop effective long-term strategies

• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it

• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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