Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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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