Electric Discharge Machine Market

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Electric Discharge Machine Market (Product - Die Sinking EDM, Wire Cutting EDM, and Small Hole EDM; Application - Automotive, Manufacturing, Aerospace and Defence, Healthcare, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : IA0091

  • Category : Industry Automation

  • Status : Published

A recent report published by Infinium Global Research on the electric discharge machine market provides an in-depth analysis of segments and sub-segments in the global as well as regional electric discharge machine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electric discharge machine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global electric discharge machine market. According to the report, the global electric discharge machine market is projected to grow at a CAGR of 7.8% over the forecast period of 2020-2026.

 

Market Insight

Electric discharge machining is a method based on the principle of the thermoelectric process which is used through the use of electric spark erosion to remove metal. EDM finds its application in the machining of hard metals which cannot be machined easily by the conventional metal cutting process. The current concerns over the spread of coronavirus are creating a decline in the demand for electric discharge machine in the global market. As the spread of COVID-19 is accelerating, global demand from the automotive and manufacturing sectors has decreased for the short term. The electric discharge machine manufacturers and suppliers in several countries are affected on most fronts as the COVID-19 has forced several manufacturing units to suspended operations. This will also lead to a considerable decline in company revenues, which in turn will also lower the percentage of investments in ugradation and expansion of these manufacturing plants.

 

Apart from the demand side, the supply side will also face disruptions as the majority of the raw materials in these machines are sourced from China. This will also chain will hinder the functioning of the industry to a huge extent as severe demand-supply gaps will be witnessed in the industry. Nonetheless, as the governments across the world are formulating various policies to stimulate the development of severely affected manufacturing industry through incentives and packages, the market will witness steady progress by 2022 and gain stability over the prediction period.

 

Rise in automation across the automotive and manufacturing industry along with the evolution of industry 4.0 are the key driving factors for the growth of the electric discharge machine market. Recent advancement in technologies and upsurge in demand from the pharmaceutical manufacturing sector is expected to drive the demand for an electric discharge machine market. Electric discharge machines have emerged as one of the most efficient techniques for grinding and milling processes across the manufacturing industries. Moreover, EDMs are now becoming a widely accepted technology in manufacturing industries owing to its features such as speed and accuracy which will assist in increased productivity. However, a lack of understanding of the advantages that an electric discharge machine provides to end-user industries hampers the growth of the industry for electric discharge machines. Moreover, electric discharge machine manufacturers are adopting green manufacturing processes and focusing on research and development activities to upgrade their product offerings according to the changing requirements by the end-use industries.

 

Geographically, North America held the largest share in the electric discharge machines market. Increasing preferences of non-conventional machining processes by several automotive and manufacturing industries and technological advancements are the major factors that drive the growth of the electric discharge machine market. Moreover, expanding metal industry and rising demand of machine tool industry in this region propels the market growth. European EDM market is anticipated to show a steady growth forecast period owing to availability of a large number of key players in European countries such as Switzerland, Germany, and Italy. Moreover, industrialization in European countries such as the Czech Republic, Poland, Hungary, and Slovakia has significantly contributed to accelerating the demand of electrical discharge machine market in the region.

 

Segment Covered

The report on the global electric discharge machine market covers segments such as product, and application. On the basis of product, the sub-markets include die sinking EDM, wire cutting EDM, and small hole EDM. On the basis of application, the sub-markets include automotive, manufacturing, aerospace and defence, healthcare, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as JOEMARS MACHINERY & ELECTRIC INDUSTRIAL CO., LTD., GF Machining Solutions, HeunFunkenerosion GmbH, KAAST Machine Tools Inc., Kent Industrial USA, Inc., Mitsubishi Electric Corporation, Astro Machine Works, Inc., Makino Milling Machine Co. Ltd, Sodick Co., Ltd, and Accutex Technologies Co., Ltd.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the electric discharge machine market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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