Electrical Discharge Machines (EDM) Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Sinker EDM, Wire EDM), By Application (Die Making, Mold Making, Hole Drilling, Others), By End-User Industry (Manufacturing, Energy And Power, Electrical And Electronics, Healthcare, Automotive, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Feb 2023
- Report Code : KSI061610609
- Pages : 165
The electrical discharge machines (EDM) market is anticipated to expand at a CAGR of 8.18% over the forecast period to reach a market valuation of US$8,432.108 million by 2027.
Electrical discharge machining is a non-traditional precision machining process, whereby a typically conductive material workpiece has features created by the controlled erosion of a material using electrical discharges (sparks). EDM plays an important role in manufacturing processes for a broad range of industries such as electronics, medical, and aerospace manufacturing, and is also essential for manufacturing precision military parts. Burgeoning demand for precision machine parts in several industries such as automotive, and healthcare, among others, is a key driving factor boosting the demand for electrical discharge machines during the forecast period. The market is expected to grow at a steady pace owing to the increasing usage of EDMs in medical manufacturing and power generation as they provide superior accuracy and precision.
The growing requirement for precision in different component manufacturing.
The manufacturing industry is developing at a rapid pace owing to the advancing component quality requirements and the amendments in the industry standards. This is encouraging industry players to adapt and make use of electric discharge machines for manufacturing purposes such as wire cutting, and fabrication of high-precision gears, components, and machine elements with a high degree of precision. This factor is driving market growth over the forecast period. Moreover, the skill gap is widening among the workers to improve and enhance their technical knowledge by making use of high durability and good quality materials to get a product that can adhere to the industry standards. Hence, this factor is also contributing to fueling the demand for these machines and, in turn, leading to a surge in market growth.
Furthermore, the market players are involved and participating in the market by launching new and enhanced products to cater to the burgeoning demand from different end-user industries to strengthen their market position and contribute to the market growth. For example, In October 2019, GF Machining Solutions, which is involved in the manufacture and sale of engineering solutions for different end-user industries, announced the launch of their new product called the “Agie Charmilles Cut P 500 Pro Wire-Cutting EDM”. It was announced at the EMO 2019 (Exposition Mondiale de la Machine-Outil), a trade fair at which different machine utility tools are showcased. Its product is designed with an easy-to-use interface and will be launched in mid-2020.
The demand from the automotive industry is anticipated to slow down, while the manufacturing industry offers a good growth opportunity.
By end-user industry, the electrical discharge machines market is segmented as manufacturing, energy and power, electrical and electronics, healthcare, and automotive. Manufacturing dominates the global EDM market owing to increasing manufacturing bases, especially across the developing economies of the world such as the Asia Pacific region. The energy and power segment provides a great opportunity for EDM manufacturers to expand their market share. This is due to the shift towards renewable energy sources across the globe on account of rising electricity prices and stringent environmental regulations.
Healthcare will witness a significant growth in the CAGR between 2019 and 2025 owing to rising demand for highly advanced medical devices such as medical implants for effective treatment of the expanding base of patient population suffering from chronic diseases and age-associated diseases that are found quite prevalent among the geriatric population of the world, which includes comorbid and multimorbid cases as well. The process is highly useful in the surface modification of implant materials and is considered the most non-conventional manufacturing method. For example, in the case of knee or joint replacement surgeries, the surface topology of the implant material plays a significant role in the success of the surgery.
The Asia Pacific EDM market is poised to grow rapidly during the forecast period.
By geography, the electrical discharge machine (EDM) market is segmented as follows: North America, South America, Europe, the Middle East and Africa, and Asia-Pacific. North America and Europe hold the major share of the global electrical discharge machine market. The European market’s dominance is attributed to the strong growth of end-use industries, including aerospace and automotive, and the corresponding boost to the tool-making industry in the region. According to the International Special Tooling and Machining Association (ISTMA), the tool and mold-making industry is experiencing a positive response in terms of sales and exports as companies in European countries such as Portugal are heavily investing in new technologies to guarantee flexible solutions to their clients. APAC is expected to witness the fastest regional market growth during the projected period owing to an expanding manufacturing base supported by the growing adoption of automation across different industries in countries like India, China, and Australia.
- October 2021: As per the press release by Gf Machining in October 2021, EDM technology was advocated by GF Machining Solutions to help manufacturers increase productivity and accuracy. This wire-cutting and die-sinking EDM machines, along with effective options for the mold and die industry, offer operational accuracy, superb component quality, and automated options.
- October 2021: As per the press release by Beaumont Machine in October 2021, SpaceX received a Small Hole EDM bid from Beaumont Machine. A new Beaumont small hole machine with an eight-foot diameter and eight-foot height reach is being used by SpaceX, a new client for Beaumont Machine.
- July 2019: As per the press release by Makino Milling Machine Co. Ltd in July 2019, in order to boost machining rates by up to 300%, Makino Milling Machine Co. Ltd. developed the U6 H.E.A.T. extreme wire electric discharge machine (EDM) coated with wire technology which will help the company in boosting its business.
Impact of COVID-19 on the Electrical Discharge Machines (EDM) Market
Due to the government-imposed lockdown and poor demand from the electronics and automotive industries, the market for electrical discharge machines declined in 2020. The COVID-19 pandemic stopped the manufacturing of a number of products in the automobile sector, especially because major nations throughout the world were placed on long-term lockdowns. The market for electronic discharge machines was considerably affected by this. Equipment and machinery sales were negatively impacted by COVID-19, which also had an adverse effect on the market expansion. Large manufacturing nations like the U.S., Germany, Italy, the UK, and China, which were adversely impacted by the spread of the coronavirus, historically accounted for the majority of the demand for equipment and machinery. This need has since been curtailed. Furthermore, the lockdown's potential effects were unknown, and a company's ability to recover financially depended entirely on its cash reserves. The players had to change their investment strategies and Manufacturers of machinery and equipment prioritized safeguarding their personnel, business operations, and supply chains in order to respond to urgent emergencies and devise new operational strategies once the number of COVID-19 infection cases starts to decline.
Electrical Discharge Machines (EDM) Market Scope:
|Market Size Value in 2020||US$4,864.026 million|
|Market Size Value in 2027||US$8,432.108 million|
|Growth Rate||CAGR of 8.18% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Type, Application, End-User, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||AAEDM Corporation, Adron EDM Specialists, Accutex Technologies Co., Ltd., Excetek Technologies Co., Ltd., GF Machining Solutions Management SA, Mitsubishi Electric Corporation, OSCARMAX, Kent Industrial USA, Inc., Sodick Co., Ltd.|
|Customization Scope||Free report customization with purchase|
- By Type
- Sinker EDM
- Wire EDM
- By Application
- Die Making
- Mold Making
- Hole Drilling
- By End-User
- Energy and Power
- Electrical and Electronics
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. MARKET OVERVIEW
1.2. COVID-19 SCENARIO
1.3. MARKET DEFINITION
1.4. SCOPE OF THE STUDY
1.8. BASE, AND FORECAST YEARS TIMELINE
2. RESEARCH METHODOLOGY
2.1. RESEARCH DESIGN
2.2. SECONDARY SOURCES
3. EXECUTIVE SUMMARY
3.1. KEY FINDINGS
4. MARKET DYNAMICS
4.1.1. INCREASING USE OF EDM IN AUTOMATION
4.1.2. GROWING DEMAND FROM VARIED INDUSTRY VERTICALS
4.2.1. EXPENSIVE TOOL WEAR
4.2.2. HIGH POWER AND TIME CONSUMPTION
4.3. PORTER’S FIVE FORCES ANALYSIS
4.3.1. BARGAINING POWER OF SUPPLIERS
4.3.2. BARGAINING POWER OF BUYERS
4.3.3. THREAT OF NEW ENTRANTS
4.3.4. THREAT OF SUBSTITUTES
4.3.5. COMPETITIVE RIVALRY IN THE INDUSTRY
4.4. INDUSTRY VALUE CHAIN ANALYSIS
5. ELECTRICAL DISCHARGE MACHINES MARKET BY TYPE
5.2. SINKER EDM
5.3. WIRE EDM
6. ELECTRICAL DISCHARGE MACHINES MARKET BY APPLICATION
6.2. DIE MAKING
6.3. MOLD MAKING
6.4. HOLE DRILLING
7. ELECTRICAL DISCHARGE MACHINES MARKET BY END-USER
7.3. ENERGY AND POWER
7.4. ELECTRICAL AND ELECTRONICS
8. ELECTRICAL DISCHARGE MACHINES MARKET BY GEOGRAPHY
8.2. NORTH AMERICA
8.2.1. UNITED STATES
8.3. SOUTH AMERICA
8.4.1. UNITED KINGDOM
8.5. MIDDLE EAST AND AFRICA
8.5.1. SAUDI ARABIA
8.6. ASIA PACIFIC
8.6.4. SOUTH KOREA
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. MAJOR PLAYERS AND STRATEGY ANALYSIS
9.2. EMERGING PLAYERS AND MARKET LUCRATIVENESS
9.3. MERGERS, ACQUISITIONS, AGREEMENTS, AND COLLABORATIONS
9.4. VENDOR COMPETITIVENESS MATRIX
10. COMPANY PROFILES
10.1. AAEDM CORPORATION
10.1.2. PRODUCTS AND SERVICES
10.1.3. KEY DEVELOPMENTS
10.2. ADRON EDM SPECIALISTS
10.2.2. PRODUCTS AND SERVICES
10.2.3. KEY DEVELOPMENTS
10.3. ACCUTEX TECHNOLOGIES CO., LTD.
10.3.2. PRODUCTS AND SERVICES
10.3.3. KEY DEVELOPMENTS
10.4. EXCETEK TECHNOLOGIES CO., LTD
10.4.2. PRODUCTS AND SERVICES
10.4.3. KEY DEVELOPMENTS
10.5. GF MACHINING SOLUTIONS MANAGEMENT SA
10.5.2. PRODUCTS AND SERVICES
10.6. MITSUBISHI ELECTRIC CORPORATION
10.6.2. PRODUCTS AND SERVICES
10.6.4. KEY DEVELOPMENTS
10.7.2. PRODUCTS AND SERVICES
10.7.3. KEY DEVELOPMENTS
10.8. KENT INDUSTRIAL USA, INC
10.8.2. PRODUCTS AND SERVICES
10.9. SODICK CO., LTD.
10.9.2. PRODUCTS AND SERVICES
10.9.4. KEY DEVELOPMENTS
ADRON EDM SPECIALISTS
ACCUTEX TECHNOLOGIES CO., LTD.
GF MACHINING SOLUTIONS MANAGEMENT SA
MITSUBISHI ELECTRIC CORPORATION
KENT INDUSTRIAL USA, INC
SODICK CO., LTD.
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