Los Angeles, CA -- (SBWIRE) -- 12/09/2019 -- Rise of automation in manufacturing sector is expected to propel the demand for EDM Cutting Wire method. It is an important metal fabrication process, which enables cutting of complex shapes, structures, dimensions, and sizes. According to a new report titled "Global EDM Cutting Wire Market Research Report 2019," published by QY research, the global EDM Cutting Wire Market was valued over US$ 792 Mn in 2018 and is expected to reach more than US$ 1 Bn in 2025. The market is anticipated to exhibit a healthy CAGR of 8.7% from 2019 to 2025.
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Increasing Demand for Cutting Hard Conductive Metals to Fuel the Growth of the Market
EDM Cutting Wire is extensively used for cutting hard conductive metals such as molybdenum and tungsten using high voltage electricity. It is affordable than other cutting technology used in the industrial sector such as laser cutting. EDM Cutting Wire offers precision cutting and is used in various applications in the automotive and aerospace industry leading to the growth of the market. However, the EDM cutting Wire method is a slow process and can only be used on electrically conductive materials, which is likely to hamper the growth of the EDM Cutting Wire market.
Precision Cutting with High Accuracy to Foster Growth of the Application Segment
The application segment is bifurcated into aerospace, mechanic, die and mold, and Others. The die and mold segment is the fastest-growing segment and is expected to witness growth due to its high accuracy in cutting narrow slots, sharp internal corners, intricate shapes, and deep ribs. With high precision, this method also eliminates the need for other processes such as polishing, which makes it cost-effective, fostering the growth of the EDM Cutting Wire market. The product type segment is segmented into coated wire, hybrid wire, and no coated wire.
High Demand from Automotive Industry to Boost Europe Market
The US held the leading share of the EDM Cutting Wire market in the region of North America due to technological advancements and the presence of a developed industrial sector. Europe is expected to hold a significant share of the market and is expected to witness growth due to high demand in end-use industries such as automotive, aerospace, and defense.
Key Players are Inclined to Expand Capacity and Focus on Expansion
Oki Electric Cable, Powerway Group Novotech, Opecmade, Nigbo De-Shin Industrial Co., THERMOCOMPACT, Hitachi Metals, Sumitomo (SEI) Steel Wire Corp, J. G. Dahmen & Co, Heinrich Stamm GmbH, Tamra Dhatu, and YUANG HSIAN METAL INDUSTRIAL are some of the major companies operating in the global EDM Cutting Wire market. Key players are focusing on capacity development for manufacturing and concentrating on expansion to achieve growth.
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