New York, NY, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Electrical Discharge Machine Market by Product (Die Sinking EDM, Wire Cutting EDM, and Small Hole EDM), and by End-Use Industry (Aerospace and Defense, Manufacturing, Automotive, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024’’. According to the report, global electrical discharge machine market was valued at around USD 4.65 billion in 2017 and is expected to reach approximately USD 7.97 billion in 2024, growing at a CAGR of slightly above 8.1% between 2018 and 2024.
Electrical discharge machining is a process of removing desired material from any workpiece by inducing the electrical spark in between workpiece and electrode. The created electric spark induces immense heat ranging from 8000 to 12000°C, which can melt almost any material.
Browse through 41 Tables & 22 Figures spread over 140 Pages and in-depth TOC on “Global Electrical Discharge Machine Market: By Type, Size, Industry Share, Market Trends, Analysis and Forecast, 2017 – 2024”.
Request Free Sample Report of Global Electrical Discharge Machine Market Report @ https://www.zionmarketresearch.com/sample/electrical-discharge-machine-market
Wire cutting EDM is a high precision method for cutting nearly any electrically conducting material. Wire cut EDM process is significantly opted by the automotive industry for various metal mold applications such as molding steel headlights. Automobile manufacturers highly prefer EDM procedure as it ensures molding and drilling of the largest automotive part too. Globally, the automotive sector attained the value of USD 61.85 billion in the year 2012 and is anticipated to account for the value of around 90.49 billion by 2020. In the year 2017, nearly 98.9 million motor vehicles were produced worldwide. The automotive sector has been estimated to be the highest growing segment in the forecast period. China is observed to be the major contributor in driving the market demand due to the flourishing automotive sector of the region that accounted for USD 15.75 billion in 2017. The decent rise in the automotive industry has simultaneously accelerated the market demand of electrical discharge machines. However, the EDM is quite a complex procedure involving numerous stages. Involvement of a large number of devices results in increased raw material and manufacturing expenses. High manufacturing expense is restraining the market growth to some extent.
Being an effective thermal machining procedure, EDM is highly opted for machining and molding ceramic materials. EDM is significantly effective, irrespective of the strength and hardness of the ceramic material, because of which it is preferred over the conventional techniques. EDM not only ensures stability but also accounts high removal rate of ceramic materials. The demand for advanced ceramic material has accounted for more than 7% of growth in the year 2015 and is observed to be substantially growing in the upcoming years as well. Implementation of EDM for machining ceramics is anticipated to create enormous opportunity for electrical discharge machine market in the upcoming years.
Download Free PDF Report Brochure: https://www.zionmarketresearch.com/requestbrochure/electrical-discharge-machine-market
The electrical discharge machine market is categorized based on product, end-user industry, and geography. The product segment of the electrical discharge machine market includes die sinking EDM, wire cutting EDM, and small-hole EDM. The wire cut EDM is observed to be the largest market share holder and is anticipated to grow remarkably in the upcoming years as well. The main reason for the highest growth rate is diversified benefits offered such as reduced cost, high reliability, and stress-free cutting facility. The wire cut segment is anticipated to attain CAGR of more than 8.4% in the forecast period. EDM is implemented in various end-use industries for diversified applications, some of the major end-use industries are aerospace and defense, manufacturing, automotive, healthcare, and others. The automotive segment is anticipated to be the highest growing segment due to boosting demand for automobiles in numerous emerging countries globally.
Based on geography, the electrical discharge machine market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa along with further country-wise segmentation. Metal cutting and mounding are one of the prime applications of EDM. North America is anticipated to be one of the most growing regions in the forecast period due to the presence of globally renowned major players of metal industries in this region. The U.S. is one of the major producers of metal and was the third largest producer of steel globally in the year 2014. In the year 2014, the U.S. produced more than 28 million metric tons of pig iron and approximately 89 million tons of steel in more than 69,001 foundries. In the year 2013, more than 111 specialty mills were in the U.S. that manufactured 59% of the U.S. steel production.
Browse the full "Electrical Discharge Machine Market by Product (Die Sinking EDM, Wire Cutting EDM, and Small Hole EDM), and by End-Use Industry (Aerospace and Defense, Manufacturing, Automotive, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/electrical-discharge-machine-market
Presently, Europe is the second largest shareholder after Asia Pacific due to the presence of the flourishing machine tool market. EDM is preferred over numerous machine tools for critical cutting, drilling, and shaping. Presence of largest machine tool producing European countries such as Germany, Italy, and Switzerland has significantly contributed to accelerating the electrical discharge machine market demand. European manufacturing equipment production accounted for more than USD 19.3 billion in the year 2010. In the year 2017, Germany, Italy, and Switzerland were the largest European manufacturing equipment producers owing to the share of 46.2%, 19.3%, and 12% respectively. The European manufacturing equipment consumption is anticipated to grow at the rate of more than 3.2% in the year 2018. In the year 2010, Austria, Spain, and Turkey also contributed to some extent, holding a share of 3.9%, 3.8%, and 2.6% in European manufacturing equipment production market.
In the year 2017, Asia Pacific accounted for the largest share of more than 50% of the electrical discharge machine market. The presence of emerging automotive sector is the major factor driving the market demand and is anticipated to be the dominating region from 2016 to 2020 as well. Compared to other conventional approaches, EDM is highly preferred for molding critical automotive parts such as headlights. Boosting automobile demand in numerous Asian countries such as India, Thailand, Vietnam, Indonesia, and China is responsible for the substantial growth of electrical discharge machine market in the region. The automotive industry is anticipated to grow with more than 5% rate from the year 2010 to 2020. In the year 2015, China accounted for USD 27.5 billion of manufacturing equipment consumption holding more than 68.2% share of Asian manufacturing equipment consumption. Japan and China are the significant shareholders after China holding the share of 14.4% and 3.8% of the Asian manufacturing equipment consumption.
Inquire more about this report before purchase @ https://www.zionmarketresearch.com/inquiry/electrical-discharge-machine-market
Numerous local and international manufacturers are focusing on developing low-cost EDMs, thereby making the market substantially competitive. Globally renowned major players involved in EDM manufacturing are Aristech, CERATIZIT, CHMER, EchoENG, EXERON, GF Machining Solutions, Heun Funkenerosion GmbH, OEMARS, KAAST Machine Tools Inc., and Kent Industrial, among others.
Request customized copy of report @ https://www.zionmarketresearch.com/custom/3323
The report segments the global electrical discharge machine market as follows:
Electrical Discharge Machine Market: Product Segment Analysis
- Die Sinking EDM
- Wire Cutting EDM
- Small Hole EDM
Electrical Discharge Machine Market: End-user Segment Analysis
- Aerospace and defense
- Manufacturing
- Automotive
- Healthcare
- Others
Electrical Discharge Machine Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
Related Reports:
- Non-Glass Capacitive Sensors Market: https://www.zionmarketresearch.com/report/non-glass-capacitive-sensors-market
- Protective Relay Market: https://www.zionmarketresearch.com/report/protective-relay-market
- Next Generation Battery Market: https://www.zionmarketresearch.com/report/generation-battery-market
- Small Cell Satellite Backhaul Market: https://www.zionmarketresearch.com/report/small-cell-satellite-backhaul-market
- Industrial Internet of Things (IIoT) Market: https://www.zionmarketresearch.com/report/industrial-internet-of-things-market
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research
Follow Us Twitter: https://twitter.com/zion_research
Blog: http://www.intenseresearch.com | http://www.mrsresearchgroup.com | http://www.marketresearchtrade.com | https://qyresearchgroup.com | http://marketnreports.com | https://zmrnewsjournal.us | http://www.e-marketresearch.com
Contact Us:
Joel John
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com
Blog: http://zmrblog.com