LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global electrical discharge machine (EDM) market to grow at a CAGR of 8% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global EDM market for 2017-2021. To calculate the market size, Technavio analysts considered the demand for electrical discharge machines from the various end-user industries.
EDM is an important process in metal fabrication. Cutting of metals with precision and to the exact dimensions required has been a challenging task for several centuries. Growth and innovation in technology has introduced many methods and processes for cutting metals in different shapes, dimensions, and sizes, which were unheard of a few decades ago. EDM also forms an essential part of many important end-user industries, such as the automotive, aerospace and defense, and medical that have a direct impact on global economics.
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Technavio heavy industry analysts highlight the following three factors that are contributing to the growth of the global EDM market:
Rise in automation: Industrial revolution 4.0
Companies are increasingly resorting to automation as a way of meeting anticipated quality standards, thereby catering to increased demand arising from globalization and increasing population.
Gaurav Mohindru, a lead tools and components research analyst at Technavio, says, “Many companies implement process automation to enhance their productivity and increase profit margins. Considering these factors, companies benefit due to the enhancement in overall efficiency that automation brings.”
Increased demand for superior-quality products and CNC machines
The design is crucial to any product development process. During this process, precise design specifications allow the product to acquire the desired form and ensure the superior quality of the end products. All these specifications are made possible with the use of various cutting machines such as EDM, which make it easier to develop complex products and shapes.
“Advanced EDM machines, especially CNC machines, have been possible due to continuous R&D efforts. These CNC machines are highly efficient and productive and enable the incorporation of new technologies. But keeping a physical copy of most CNC machine manuals is difficult owing to their unwieldy nature, and this has contributed to their unpopularity on production shop floors,” adds Gaurav.
Increased demand for mechanical engineering products
Technavio expects tremendous growth in demand for mechanical engineering products. The mechanical engineering sector is dominated by China. It is expected that by the end of 2018 revenues generated from mechanical engineering in China will surpass the total revenue generated by North America and rest of Asia taken together.
In Europe, the mechanical engineering sector is expected to revive from the current economic condition, and maximum demand is expected to arise from Germany and Italy. The trend toward lightweight and higher flexibility in machine tools and robotics will increase the use of aluminum and building complex and precision parts. This is expected to drive the EDM market during the forecasted period.
Top vendors:
- GF Machining Solutions
- Makino Milling Machine
- Mitsubishi Electric
Browse Related Reports:
- Global Metal Cutting Machine Tools Market 2016-2020
- Global Machine Tools Market 2016-2020
- Global Laser Cutting Machine Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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