Over the projected period of 2021–2031, the market for cutting wire for EDM (electrical discharge machining) is anticipated to expand significantly. Increasing government regulations to replace traditional machining techniques, rising investments in the aerospace process, automotive manufacturing, and tool & die makers industries, and rising demand for advanced cutting wires with properties like higher speed, accuracy, and increased lifespan are some of the factors propelling the growth of the EDM cutting wire market.
EDM cutting wire is a very effective type of machining technique that has benefits including increased speed, precision, and lifespan. Due to its improved performance compared to conventional machining methods, it is widely used in a variety of industries, including Aerospace Process, Automotive Manufacturing, and Tool & Die manufacturers. High precision reducers, CNC tools, medical equipment, and high precision moulds are just a few applications for EDM cutting wires.
The market for EDM cutting wire is anticipated to benefit from the rise in demand for extremely precise machining. The expansion of the EDM cutting wire will be fueled by the increasing use of cutting wires that are more advanced and have qualities like greater speed, precision, and lifespan. Government mandates requiring the transition from conventional machining techniques to contemporary innovative technologies will further support the market's expansion.
Electricity is used to mill or shape materials in EDM cutting wire, a sort of machining technology. Material is cut and shaped using an electrical charge, and the method is based on thermoelectric erosion. EDM cutting wires are primarily used to create very accurate moulds, CNC tools, highly accurate medical equipment, and highly accurate reducers, among other applications. In conclusion, it is anticipated that the EDM cutting wire market will expand significantly between 2021 and 2031.
During the projection period of 2021–2031, the EDM cutting wire market is anticipated to expand from USD 7.1 billion in 2020 to USD 13.4 billion, at a CAGR of 6.3%. Growing government requirements to replace traditional machining techniques and growing product releases in the aerospace process, automotive manufacturing, and tool & die industries are some of the factors propelling the growth of the EDM cutting wire market.
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The market for EDM cutting wires is being constrained in its expansion by a number of problems, including the high cost of these wires, the scarcity of competent workers, and the difficulty of managing the process. Environmental rules that limit the use of specific EDM cutting wires may potentially impede market expansion. The demand for improved cutting wires with features like greater speed, accuracy, and longevity will, nevertheless, drive the market for EDM cutting wires throughout the anticipated period.
Hypertherm Inc., Advanced Forming Technology, Electro-Tech Systems Ltd., ELTEK S.p.A., M&J Group, Kawasaki Robotics GmbH, Kemet Corporation, Mcor Technologies Limited, Oerlikon Metco AG, and 3D Systems are some of the leading companies in the EDM cutting wire market.
Segment Analysis
The Coated Wire segment to form major portion of the market
Due to its capacity to adhere to strict tolerances and finish specifications for the production of highly precise moulds, coated wire is anticipated to see the quickest rate of growth in the EDM cutting wire market during the projected period. Due to its excellent performance, this kind of EDM cutting wire is frequently utilized in the aerospace processing and automotive manufacturing sectors.
High Precision Mold Segment segment segment to be on top of the market
In the market for EDM cutting wire, the High Precision Mold sector is anticipated to experience the quickest rate of growth. Due to rising demand for very precise moulds with exact tolerances and finish specifications, this application market is expanding rapidly. Furthermore, this application market is expanding as a result of increasing technological breakthroughs and product releases.
Asia Pacific to dominate the market
Due to increasing expenditures in the Aerospace Process and Automotive Manufacturing industries, the Asia Pacific region is anticipated to experience the highest growth in the EDM cutting wire market during the forecast period. Additionally, this region has grown as a result of the rising need for EDM cutting wires for the production of very precise moulds. The key drivers of market expansion in the region are large nations like China, Japan, South Korea, and India.
Covid-19 Impact & Market Status
The COVID-19 epidemic had a considerable impact on the market for EDM cutting wire. Due to delays in production processes and supply chains, the lockdown imposed in major nations has resulted in a decrease in demand for EDM cutting wires. Nevertheless, given that a number of industries are progressively beginning their operations, this situation is anticipated to get better during the forecast period.
Latest Innovations in the Global EDM Cutting Wire Market: A Snapshot
HyDefinition EDM cutting wires for high-precision mould fabrication and high-accuracy CNC tool applications were introduced in October 2019 by Hypertherm Inc.
To fulfill the needs of medical and aerospace applications, Electro-Tech Systems Ltd. introduced a variety of EDM cutting wires in December 2019 with varying degrees of hardness.
The development of new materials for EDM cutting wires, such as high-strength alloys or polymers, to improve performance and extend the lifespan of the wire.
The use of advanced coatings or treatments on EDM cutting wires to improve their wear resistance and reduce the amount of sparks and debris generated during cutting.
The development of new EDM cutting wire shapes and profiles, such as tapered or stepped wires, to improve the accuracy and quality of the cut.
The use of precision winding techniques to improve the consistency and straightness of EDM cutting wires.
EDM Cutting Wire Market Scope
| Metrics | Details |
| Base Year | 2022 |
| Historic Data | 2021-2022 |
| Forecast Period | 2022-2031 |
| Study Period | 2021-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 13.4 billion |
| Growth Rate | CAGR of 6.3% during 2021-2031 |
| Segment Covered | by Type, by Deployment, By Application, by Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Hypertherm Inc., Advanced Forming Technology, Electro-Tech Systems Ltd., ELTEK S.p.A., M&J Group, Kawasaki Robotics GmbH, Kemet Corporation, Mcor Technologies Limited, Oerlikon Metco AG, and 3D Systems |
Key Segment of EDM Cutting Wire Market
By Type Overview 2021-2031, (USD Billion)
• No Coated Wire
• Coated Wire
• Hybrid Wire
By Application Overview 2021-2031, (USD Billion)
• High Precision Mold
• CNC Tool
• High-precision Medical Equipment
• High Precision Reducer
• Others
By Region Overview 2021-2031, (USD Billion)
North America
• USA
• Canada
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of North America
Europe
• Germany
• France
• UK
• Rest of Europe
Middle East and Africa
Frequently Asked Questions (FAQ) :
The global EDM Cutting Wire market size is expected to reach USD 13.4 billion in 2031.
The EDM Cutting Wire market is estimated to grow at a CAGR of 6.3%
The top leaders analyzed in the EDM Cutting Wire market study are Hypertherm Inc., Advanced Forming Technology, Electro-Tech Systems Ltd., ELTEK S.p.A., M&J Group, Kawasaki Robotics GmbH, Kemet Corporation, Mcor Technologies Limited, Oerlikon Metco AG, and 3D Systems