Global Electric Discharge Machine Market: Overview
According to a new market report pertaining to the global electric discharge machine (EDM) market published by Transparency Market Research the global electric discharge machine market is projected to reach a value of US$ 6.1 Bn by 2027. The electric discharge machine market is expected to expand at a CAGR of ~6% from 2019 to 2027, in terms of volume. Growth of the electric discharge machine market can be attributed to increasing need for EDM for the development of high end machining designs in various industries. Asia Pacific is anticipated to lead the global electric discharge machine market, followed by North America during the forecast period.
Electric Discharge Machine Market to Witness Growth due to Future Dominance of Industry 4.0
Industry 4.0, widely known as smart factory, is considered the fourth era of industry that merges automation and computing, which can drive the manufacturing sector to move from machine tools to high quality assurance tools. Industry 4.0 includes cyber-physical systems, factory simulation, autonomous robots, cloud computing, Internet of Things (IoT), cognitive computing, and additive manufacturing. Industry 4.0 can help simulate, design, and take care of physical processes in manufacturing factories with electric discharge machines for cost-effectiveness. It also combines an array of modern automation, intelligence, manufacturing technologies, and data exchange.
Moreover, electric discharge machines (EDM) are preferred in the manufacturing of high efficiency machines or equipment in manufacturing factories to save labor cost (as compared to conventional milling practices), while enhancing the quality of products, which can be used to meet the needs in Industry 4.0 across the world.
Electric Discharge Machine Market: Regional Outlook
In terms of region, the global electric discharge machine market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific led the global electric discharge machine market, accounting for a substantial share in 2019, with China and India being the major markets in the region.
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The Asia Pacific electric discharge machine market is expected to grow at a CAGR of ~7%, in terms of volume, during the forecast period due to well established manufacturers of electric discharge machines, such as Mitsubishi Electric Corporation, Sodick Co., Ltd., FANUC Corporation, and Sparkonix (India) Pvt. Ltd., in the region. The electric discharge machine market in Europe, Middle East & Africa, and South America is also expected to expand at a moderate rate during the forecast period.
The report provides in-depth segment analysis of the global electric discharge machine market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant market share has also been included as part of the regional analysis for the electric discharge machine market.
Electric Discharge Machine Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global electric discharge machine market. Key players profiled in the report include Mitsubishi Electric Corporation, Sodick Co., Ltd., Makino Milling Machine Co. Ltd., Sparkonix (India) Pvt. Ltd., FANUC CORPORATION, Georg Fischer AG, Excetek Technologies Co., Ltd, AccuteX Technologies Co., Ltd., Astro Machine Works, Inc., KNUTH Werkzeugmaschinen GmbH, and Ona Electroerosion, S.A.
