At 7.3% CAGR, the Europe EDM Wire Market is projected to be worth US$ 444.55 million by 2028, says Business Market Insights         

According to the Insight Partners’ research, the Europe EDM wire market was valued at US$ 291.19 million in 2022 and is expected to reach US$ 444.55 million by 2028, registering an annual growth rate of 7.3% from 2022 to 2028. Growth prospects in healthcare, automotive, and aerospace industries and parts and increasing adoption of miniature pneumatics in electronics are the critical factors attributed to the market expansion.                

In the wave of technological developments, industrial sectors such as automotive and healthcare are improving. For instance, in the healthcare industry, penetration of personal and intelligent medical devices will lead to personalized medical technologies and implantable medical devices. Also, adopting robots in the healthcare industry is projected to enable the rollout of state-of-the-art medical solutions such as wearable and implantable technologies. The mentioned development in the healthcare industry is projected to create lucrative growth opportunities for developing components and parts used in implantable medical devices. This opportunity is predicted to fuel the demand for EDM wires. Similarly, the automotive industry is also witnessing a revolution. For producing large auto parts, including dual rigid linear motor axis drives and plastic dashboards, the adoption of EDM wires is rising. Also, with the introduction of electric vehicles, the automotive industry is transforming quickly. The demand for EDM wires in the automotive industry was high from earlier times and has gone up with the introduction of electric vehicles, as EDM wire ensures precise drilling and molding of small and larger parts. As the EDM wire process generates low residual stress on materials, the molds/components/punches become long-lasting and reliable. Similarly, with the introduction of advanced technologies in the aerospace industry, aerospace companies are looking ahead for EDM wires. Landing-gear components, fuel systems, engines, and other high-temperature, high-stress parts are produced using EDM wire as they can withstand the extreme pressure and heat required to make technology work in operation. The mentioned aspects related to changing automotive, aerospace, and healthcare industries due to the dynamic technological environment are projected to generate growth prospects for the Europe EDM wire market.

On the contrary, drawbacks associated with using EDM wire hurdles the growth of Europe EDM wire market.

• Based on wire type, the Europe EDM wire market is segmented into brass, zinc-coated, and non-coated. The brass segment held 59.6% market share in 2022, amassing US$ 173.63 million. It is projected to garner US$ 275.70 million by 2028 to expand at 8.0% CAGR during 2022–2028.
• Based on industry, the Europe EDM wire market is segmented into aerospace, industrial & general mechanics, automotive, healthcare, electronics, and others. The automotive segment held 33.6% market share in 2022, amassing US$ 97.90 million. It is projected to garner US$ 160.09 million by 2028 to expand at 8.5% CAGR during 2022–2028.
• Based on country, the Europe EDM wire market has been categorized into Germany, France, Italy, UK, Russia, and rest of Europe.  Our regional analysis states that Germany captured 31.1%market share in 2022. It was assessed at US$ 90.5 million in 2022 and is likely to hit US$ 135.1 million by 2028, exhibiting a CAGR of 6.9% during the forecast period.  

Key players dominating the Europe EDM wire market are Berkenhoff GmbH; Hitachi Metals Ltd; SUMITOMO ELECTRIC INDUSTRIES; NOVOTECH; OPECMADE, Inc; OKI Electric Cable Co., Ltd; THERMO COMPACT; boway group; and Yuang Hsian Metal Industrial Corporation among others.

• In 2022, Yuang Hsian Metal Industrial Corporation participated in 2022 Wire &Tube Düsseldorf exhibition.

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

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