EDM Wire Global Market Report 2024

EDM Wire Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on edm wire market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for edm wire? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The edm wire market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Wire Type: Brass; Zinc-Coated; Non-Coated
• 2) By Industry: Aerospace; Industrial And General Mechanics; Automotive; Healthcare; Electronics; Other Industries
• Companies Mentioned: Berkenhoff GmbH; Hitachi Metals Ltd.; Sumitomo Electric Industries Ltd.; Novotec BV; Opecmade Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

EDM (Electrical Discharge Machining) wire is a specialized wire employed in the EDM process to cut or shape workpieces, primarily conductive materials. In EDM, metal removal occurs through erosion caused by electrical discharges between two electrodes, the tool (cathode) and the work surface (anode).

The primary types of EDM wire include brass, zinc-coated, and non-coated variants. Brass EDM wires are typically composed of an alloy with a Cu/Zn ratio ranging from 63/37 (American and European) to 65/35 (Asian). These wires are utilized to cut or shape conductive workpieces, minimizing cutting stress and altering the mechanical properties of the workpiece. EDM wires find applications in various industries such as aerospace, industrial and general mechanics, automotive, healthcare, electronics, and others.

The EDM Wire market research report is one of a series of new reports from The Business Research Company that provides EDM Wire market statistics, including EDM Wire industry global market size, regional shares, competitors with a EDM Wire market share, detailed EDM Wire market segments, market trends and opportunities, and any further data you may need to thrive in the EDM Wire industry. This EDM Wire market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The edm wire market size has grown strongly in recent years. It will grow from $2.36 billion in 2023 to $2.51 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historical period can be attributed to advancements in manufacturing processes, an increased demand for precision machining, growth in the aerospace and automotive industries, the production of tools and dies, the heightened complexity in component design, innovations in materials, the demand for high-quality surface finishes, and challenges related to tool wear in the manufacturing sector.

The EDM wire market size is expected to see strong growth in the next few years. It will grow to $3.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The projected growth in the forecast period is fueled by advancements in EDM wire machinery, the rise in biomedical implant production, the growing demand for micro-manufacturing, increased applications in electronics packaging, initiatives to reduce environmental impact, the global expansion of the semiconductor industry, and customization in automotive manufacturing. Key trends expected during this period encompass the adoption of nano EDM wire technology, the use of wire EDM for 3D printing post-processing, the implementation of high-speed EDM wire cutting, integration of smart manufacturing solutions, the development of hybrid machining solutions, integration with advanced materials, and the utilization of computer-aided design (CAD).

The EDM wire market is experiencing significant growth, propelled by the flourishing automotive industry. With the automotive sector encompassing all aspects of automobile manufacturing, including the surge in electric vehicles due to rising fuel prices, EDM wire has emerged as an efficient method for producing intricately machined metal parts tailored to specific requirements. A study by the European Automobile Manufacturers Association revealed a global production of 79.1 million automobiles in 2021, marking a 1.3% increase from the previous year. This upward trend in automobile production is expected to be a driving force behind the growth of the EDM wire market.

The EDM wire market is anticipated to witness further growth due to the increasing demand for medical devices. As integral components in the manufacturing of medical devices, EDM wire contributes to the production of high-precision components, implants, and instruments that meet the stringent requirements of the healthcare sector. Reports indicate that the global sales of medical devices are projected to reach $800 billion by 2023, signifying a 5% increase. With over 600,000 medical devices in the UK market alone, the demand for EDM wire in the medical sector is poised for substantial growth.

Major companies in the EDM wire market are focusing on innovation, introducing new products such as the Cut F series of wire EDM systems. Developed by GF Machining Solutions, a Switzerland-based machining company, the Cut F series demonstrates sophisticated machining capabilities, accurately carving complex shapes in pre-hardened steel and other conductive materials. This wire EDM system is designed for high precision and efficiency, making it ideal for applications in aerospace, medical equipment, and high-grade dies. Such innovations contribute to increased profitability and competitiveness for companies operating in the EDM wire market.

The EDM wire market is experiencing advancements with the introduction of cutting-edge products like the AZ-600A Wire Cut EDM Machine by AccuteX, a Taiwan-based machining manufacturing company. The AZ-600A belongs to the AccuteX AZ-600 series and aims to revolutionize industrial productivity and precise engineering. This EDM machine is designed to strike a balance between productivity and accuracy, meeting the evolving demands of the industrial sector. The incorporation of such advanced technologies in EDM machines enhances their capabilities and contributes to the overall growth and dynamism of the EDM wire market.

In September 2021, Boway Group, a prominent China-based manufacturing company, successfully acquired Berkenhoff GmbH for an undisclosed sum. This strategic acquisition has provided Boway Group with significant potential, reinforcing its brand and market position in Europe. The collaboration enables the entities to work more effectively in the domain of high-end precision electrode wires. Berkenhoff GmbH, the acquired company, is a distinguished Germany-based manufacturer and distributor specializing in precision wires.

Major companies operating in the edm wire market report are Berkenhoff GmbH, Hitachi Metals Ltd., Sumitomo Electric Industries Ltd., Novotec BV, Opecmade Inc., Oki Electric Cable Co. Ltd., Thermo Compact SA, Yuang Hsian Metal Industrial Corporation, Ningbo Kangqiang Micro-Electronics Technology Co. Ltd., JIA BAO Metal Co. Ltd., Xact Wire EDM Corporation, Wire Cut Company Inc., Makino Milling Machine Co. Ltd., Powerway Group Co. Ltd., Tamra Dhatu Udyog Pvt. Ltd., Senor Metals Pvt. Ltd., YUANG HSIAN METAL INDUSTRIAL CORP., J. G. Dahmen GmbH & Co. KG, Mitsubishi Electric Corporation, Sodick Co. Ltd., GF Machining Solutions LLC, ONA EDM USA Inc., Accutex Technologies Co. Ltd., Excetek Technologies Co. Ltd., CHING HUNG MACHINERY & ELECTRIC INDUSTRIAL CO. LTD., Kent Industrial USA Inc., MC Machinery Systems Inc., Absolute Machine Tools Inc., Belmont Equipment & Technologies, and EDM Network Inc.

Asia-Pacific was the largest region in the EDM wire market in 2023. The regions covered in the edm wire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the edm wire market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The EDM wire market consists of sales of copper-coated and paraffin-coated EDM wires. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.