The global demand for EDM Wire Market is presumed to reach the market size of nearly USD 7.43 MN by 2028 from USD 4.45 MN in 2021 with a CAGR of 7.6% under the study period 2022 - 2028.
EDM, or electrical discharge machine wire, is used for various industrial and general mechanics applications. EDM wire is a highly specialized technology that can cut very hard material at a relatively high speed and cut complex paths in a cost-effective manner. These wires are used in mass production parts such as measuring instruments, gears, scales, parts of automobile gearboxes, hinges for cupboards, and many others. EDM wires are also used to produce consumer electronics, automobiles, medical devices, and other applications.
Market Dynamics
The rise in the production of light vehicles is escalating the growth of the electrical discharge machine or EDM wire market. Moreover, the demand for medical machinery increased, resulting in the growing demand for EDM wires in the healthcare industry. Also, continuous technological advancements in EDM wire have raised the need for EDM wire in aerospace component manufacturers as it provides more accuracy and can easily help manufacture various components. Further, government initiatives to encourage investment in the automotive industry are expected to boost EDM wire demand in the coming years. In addition, growth in the market for furnishing, household appliances, and consumer electronics, including smart and efficient kitchen appliances, fuels the EDM wire market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of edm wire. The growth and trends of edm wire industry provide a holistic approach to this study.
Market Segmentation
This section of the edm wire market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Wire Type
- Brass
- Zinc-Coated
- Non-Coated
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the EDM Wire market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global EDM Wire Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the edm wire market include 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. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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