2022-11-24 14:18:18

(Electrical Discharge Machine) EDM Wire Market Growth Worth $2323.98 Million, Globally, by 2028 The Insight Partners

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Increasing Disposable Income and Improving Standard of Living to Provide Growth Opportunities for EDM Wire Market During 20222028

NEW YORK, UNITED STATES, November 24, 2022 /EINPresswire.com/ -- EDM wires are used in manufacturing consumer electronic devices, automotive, medical devices, and various other applications. The US automotive sector is growing rapidly due to growing automotive sales, increasing capital growth, and higher exports. Therefore, the demand for EDM wires is very high in the market. Carmakers have taken a significant market initiative, boosting the growth of the EDM wire market in the country. Major automakers announced multibillion-dollar investments in EVs and AVs. The presence of manufacturers, including Oki Electric Cable Co., Ltd. and Hitachi Metals America, Ltd., further augments the growth of EDM wire market.

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Berkenhoff GmbH; Hitachi Metals, Ltd.; Novotec BV; Opecmade Inc.; Oki Electric Cable Co., Ltd.; Sumitomo Electric Industries, Ltd.; Thermo Compact; Yuang Hsian Metal Industrial Corp.; Ningbo Kangqiang Micro-Electronics Technology Co., Ltd; and JIA BAO Metal Co., Ltd. are among the key EDM wire market players profiled during the EDM wire market study. In addition, several other important EDM wire market players were studied and analyzed during the course of this market study to get a holistic view of the market and its ecosystem.

Impact of COVID-19 Pandemic on North America EDM Wire Market Growth
The US was the most affected country in North America due to the COVID-19 pandemic. Amid the strict regulations imposed by the US government during Q2 of 2020, the supply chain and import & export were disrupted. As a result, most manufacturing facilities were temporarily shut down or operating with minimum staff. Automotive, manufacturing, and many other industries were negatively affected in 2020. However, as soon as global supply chain resumed, the EDM wire market started to rise. The US automotive industry is one of the largest industries globally. In Q1 of 2022, the factories started to increase their production due to increased demand for products, which propelled the need for EDM wires.

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The EDM wire market is bifurcated on the basis of wire type and industry. Based on wire type, the market is segmented into brass, zinc-coated, and non-coated. By industry, the market is segmented into aerospace, industrial & general mechanics, automotive, healthcare, electronics, and others.

Strategic Insights:
EDM wire market players are mainly focused on the development of advanced and efficient systems. For instance;

In 2020, Makino launched the U6 H.E.A.T. Extreme, a new wire EDM machine. It is manufactured to take machining speeds to the next levels of performance as well as efficiency. At the core of these solutions is the use of a large wire with diameter 0.016 (0.4mm). It is elevating the U6 H.E.A.T. Extreme as the one of the fastest wires EDM machine.

In 2020, OKI launched new series of EDM wires, electrode wires for wire-cut electrical discharge machines (WEDMs) that feature roundness of 0.25 microns for all its products. It is used in die machining and other processes.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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