EDM Wire Market: Current Analysis and Forecast (2022-2028)

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Emphasis on Wire Type (Non-Coated Wire, Coated Wire, and Hybrid); Application (Manufacturing, Automotive, Aerospace, Energy & Power, and Others); and Region/Country

Pages:

169

Table:

67

Figure:

94

Report ID:

UMTI211487

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Report Description
Table of content
Research Methodology

Report Description

EDM Wire Market
EDM Wire Market

The EDM Wire Market is expected to grow at a strong CAGR of around 7% owing to increasing demand for mold and manufacturing processes with a high degree of security and safety specifically for extrusion dies and blanking punches. Moreover, the unique advantages offered by the EDM wire such as high precision, high-quality finishes, cost-effectiveness, time-efficiency, and others are substantially contributing to the market growth. In addition, the high growth of the automotive, electronics industries, and aerospace is also influencing the growth of the market. For instance, according to the Aerospace Industries Association, in 2021, the aerospace and defense industry generated USD 391 Bn in economic value, which represented 1.7 percent of the total nominal GDP in the US.

EDM wire is specially designed for cutting hard metals using the EDM process. It features superior electric properties, and it is the first choice for high-speed machining and cutting projects requiring surface precision. EDM is a modern machining process based on using thermal energy to remove material from a part. Material is removed by locally melting or vaporizing small areas on the surface of the part being machined.

Some of the major players operating in the market include Boway Group, Oki Electric Industry Co. Ltd., Thermo Technologies Group, Sumitomo Electric Industries Ltd., Tamra Dhatu, Senor Metals Pvt. Ltd., Yuang Hsian Metal Industrial Corp. Novotec BV, Opecmade Inc., and Hitachi Metals Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst wire type, the coated wire segment catered to a notable share of the market in 2020”

Based on wire type, the market is segmented into non-coated wire, coated wire, and hybrid. The coated EDM wire catered to a significant share of the EDM Wire market in 2020. This is because coated EDM wire performs better mechanically. Zinc-coated brass has a rougher outer finish than plain brass wires. Coated wire provides manufacturers with a consistent surface finish, improved flushing, and increased speed. Moreover, 10 to 15% speed improvement can be achieved with the help of coated EDM wires, compared to uncoated or hybrid wire.

“Amongst application, the manufacturing segment held a significant share in the market in 2020”

Based on application, the market is divided into manufacturing, automotive, aerospace, energy & power, and others. The manufacturing segment held a prominent share of the global EDM wire market and is expected to grow at a substantial CAGR during the forecasted period. The growth of the manufacturing segment can be attributed to the growing use of EDM in manufacturing and the growth of the manufacturing industry. For instance, according to the United Nations Industrial Development Organization, In the second quarter of 2022, world manufacturing production continued growing at a stable pace with a year-over-year growth rate of 3.1 percent.

“Asia-Pacific to grow at a strong CAGR”

The Asia-Pacific region is expected to grow at a strong CAGR during the forecast period. This is mainly due to rapid urbanization and industrialization, development in transmission and distribution networks, large automobile production, and the rapidly growing consumer electronics industry. For instance, according to the India Brand Equity Foundation (IBEF), India has grown its domestic electronics production from USD 29 Bn in 2014-15 to USD 67 Bn in 2020-21. In addition, the Ministry of Electronics & Information Technology released the second volume of the Vision document on Electronics Manufacturing in India, which stated that the electronics manufacturing industry will grow from the current USD 75 Bn in 2021-22 to USD 300 Bn by 2025-26.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.

 

Customization Options:

The global EDM wire market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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1.1.Market Definitions
1.2.Main Objective
1.3.Stakeholders
1.4.Limitation
2.1.Research Process of the EDM Wire Market
2.2.Research Methodology of the EDM Wire Market
2.3.Respondent Profile   

 

3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5GLOBAL EDM WIRE MARKET COVID-19 IMPACT

 

6GLOBAL EDM WIRE MARKET REVENUE, 2020-2028F

 

7.1.Non-Coated Wire
7.2.Coated Wire
7.3.Hybrid 

 

8.1.Manufacturing
8.2.Automotive
8.3.Aerospace
8.4.Energy & Power
8.5.Others 

 

9.1.North America EDM Wire Market
 9.1.1.U.S.  
 9.1.2.Canada  
 9.1.3.Rest of North America
9.2.Europe EDM Wire Market 
 9.2.1.Germany  
 9.2.2.U.K.  
 9.2.3.France  
 9.2.4.Italy  
 9.2.5.Spain  
 9.2.6.Rest of Europe 
9.3.Asia-Pacific EDM Wire Market 
 9.3.1.China  
 9.3.2.India  
 9.3.3.Japan  
 9.3.4.Rest of Asia-Pacific 
9.4.Rest of the World EDM Wire Market

 

10.1.Market Drivers
10.2.Market Challenges
10.3.Impact Analysis

 

11EDM WIRE MARKET OPPORTUNITIES

 

12EDM WIRE MARKET TRENDS

 

13.1.Demand Side Analysis
13.2.Supply Side Analysis
14VALUE CHAIN ANALYSIS

 

15.1.Competitive Landscape
 15.1.1.Porters Fiver Forces Analysis
16.1.Boway Group  
16.2.Oki Electric Industry Co. Ltd. 
16.3.Thermo Technologies Group 
16.4.Sumitomo Electric Industries Ltd.
16.5.Tamra Dhatu  
16.6.Senor Metals Pvt. Ltd. 
16.7.Yuang Hsian Metal Industrial Corp
16.8.Novotec BV  
16.9.Opecmade Inc.  
16.10.Hitachi Metals Ltd.  

 

17DISCLAIMER

 

Research Methodology

Research Methodology for the EDM Wire Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global EDM wire market were the three major steps undertaken to create and analyze the adoption of EDM wire in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global EDM wire market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the EDM wire market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the EDM wire market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as wire type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the EDM Wire market. Further, we conducted factor analysis using dependent and independent variables such as wire type and application of the EDM wire market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the EDM wire market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global EDM wire market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the EDM wire market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global EDM wire market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

 

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

EDM Wire Market
EDM Wire Market

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global EDM wire market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the wire type and application in the global EDM wire market.

The main objective of the Global EDM Wire Market Study

The current & future market trends of the global EDM wire market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the EDM wire market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of the wire type and application
  • Define and analysis of the regulatory framework for the EDM wire industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the EDM wire market for the major region
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
  • Company profiles of the EDM wire market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?