Europe EDM Wire Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Wire Type (Brass, Zinc-coated, and Non-coated) and Industry (Aerospace, Industrial & General Mechanics, Automotive, Healthcare, Electronics, and Others)
The EDM wire market in Europe is expected to grow from US$ 291.19 million in 2022 to US$ 444.55 million by 2028. It is estimated to grow at a CAGR of 7.3% from 2022 to 2028.
Increasing Adoption of Miniature Pneumatics in Electronics
Miniature components offer technical benefits such as improved efficiency, reliability, customization, and smooth machine function, which is expected to increase their adoption by various industries. The adoption of EDM wire has increased across numerous industrial applications, owing to the advantages such as lightweight, greater equipment design flexibility, and scope of customization. Further, they enhance the system's overall functioning and advance manufacturing developments, thereby offering boulevards for market growth. The wave of electronics miniaturization is booming at an exponential rate. In current times, the production of electronic products integrated with high-tech feature is making demand for connectors high. Due to such huge requirement, connector mold companies are looking ahead for products which can make mold making of connectors easy and quick. With the uprising wave of high data transmission rates and miniaturization of connector interfaces spreading, the demand for connector molds is predicted to become more prevalent. Owing to the increase in demand for connectors, requirements for connector molds will also rise. Also, the punching speed utilized by the mold has touched 500–3000 rpm, a technical challenge faced by mold companies. Therefore, to acquire a position in the connector industry, the connector mold companies are seeking forward for making industrial adjustment. These steps taken by connector mold companies are projected to create the demand for high-performance connectors, which would also fuel the need for new EDM wires with a smaller diameter. The era of ultraprecise machining of miniaturized components is projected to receive high attention from end-use industries due to dynamic industrial needs and customer preferences. Owing to the rise in demand for less-invasive micro products, the requirement for EDM wire continues to grow regionally. In industries such as medical devices, the demand for the latest, smaller, innovative, and state-of-the-art micro devices is growing massively, which is paving the path for EDM wire machines with small cutting diameters for fabricating components.
Market Overview
Germany, France, the UK, Italy, and Russia, and rest of Europe are the key contributors to the EDM wire market in the Europe. The presence of a robust aerospace sector boosts the demand for EDM wires across Europe. The European aircraft OEMs and defense equipment manufacturers develop and procure various civil aircraft, radar systems, and flight management systems. For example, Airbus is one of the biggest aircraft manufacturers, and it is also a notable contributor to the European economy. With the continuously rising demand for air transport, the aviation industry is among the most significant sectors contributing to the overall GDP of Europe. The automotive industry—which represents ~7% of the regional GDP—is another enabler of the Europe EDM wire market growth in Europe. The ongoing developments and sales of electric vehicles, and the presence of established car manufacturers’ as well as suppliers’ base with strong brand value, and technological and financial capabilities are likely to boost the growth of the Europe EDM wire market in the region in the coming years. In 2020, the UK government awarded US$ 57.87 million for funding various low-carbon automotive projects, including the manufacturing of electric vehicles. Such government initiatives are favoring the growth of the progress of the electric vehicle manufacturing industry, thereby contributing to the Europe EDM wire market growth.
Europe EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
The Europe EDM wire market is segmented into wire type, industry, and country.
Based on wire type, the market is segmented into brass, zinc-coated, and non-coated. The brass segment registered the largest market share in 2022.
Based on industry, the market is segmented into aerospace, industrial & general mechanics, automotive, healthcare, electronics, and others. The automotive segment held the largest market share in 2022.
Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and rest of Europe. Germany dominated the market share in 2022.
Berkenhoff GmbH; Hitachi Metals Ltd; Sumitomo Electric Industries, Ltd; Novotec; Opecmade, Inc; OKI Electric Cable Co., Ltd; Thermo Compact; boway Group and Yuang Hsian Metal Industrial Corporation are the leading companies operating in the EDM wire market in the region.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe EDM Wire Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe EDM Wire Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Production of Components and Parts
5.2 Market Restraints
5.2.1 Drawbacks Associated with Using EDM Wire
5.3 Market Opportunities
5.3.1 Growth Prospects in Healthcare, Automotive, and Aerospace Industries
5.4 Future Trends
5.4.1 Increasing Adoption of Miniature Pneumatics in Electronics
5.5 Impact Analysis of Drivers and Restraints
6. EDM Wire Market – Europe Market Analysis
6.1 Europe EDM Wire Market Overview
6.2 Europe EDM Wire Market Revenue Forecast and Analysis
7. Europe EDM Wire Market Revenue and Forecast to 2028 – Wire Type
7.1 Overview
7.2 Europe EDM Wire Market, By Wire Type (2021 And 2028)
7.3 Brass
7.3.1 Overview
7.3.2 Brass: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
7.4 Zinc-coated
7.4.1 Overview
7.4.2 Zinc-coated: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
7.5 Non-coated
7.5.1 Overview
7.5.2 Non-coated: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
8. Europe EDM Wire Market Revenue and Forecast to 2028 – Industry
8.1 Overview
8.2 Europe EDM Wire Market, By Industry (2021 And 2028)
8.3 Aerospace
8.3.1 Overview
8.3.2 Aerospace: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
8.4 Industrial and General Mechanics
8.4.1 Overview
8.4.2 Industrial and General Mechanics: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
8.5 Automotive
8.5.1 Overview
8.5.2 Automotive: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
8.6 Healthcare
8.6.1 Overview
8.6.2 Healthcare: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
8.7 Electronics
8.7.1 Overview
8.7.2 Electronics: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: EDM Wire Market Revenue and Forecast To 2028 (US$ Million)
9. Europe EDM Wire Market – Country Analysis
9.1 Overview
9.1.1 Europe: EDM Wire Market, by Key Country
9.1.1.1 France: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 France: EDM Wire Market, by Wire Type
9.1.1.1.2 France: EDM Wire Market, by Industry
9.1.1.2 Germany: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Germany: EDM Wire Market, by Wire Type
9.1.1.2.2 Germany: EDM Wire Market, by Industry
9.1.1.3 Italy: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Italy: EDM Wire Market, by Wire Type
9.1.1.3.2 Italy: EDM Wire Market, by Industry
9.1.1.4 UK: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 UK: EDM Wire Market, by Wire Type
9.1.1.4.2 UK: EDM Wire Market, by Industry
9.1.1.5 Russia: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Russia: EDM Wire Market, by Wire Type
9.1.1.5.2 Russia: EDM Wire Market, by Industry
9.1.1.6 Rest of Europe: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: EDM Wire Market, by Wire Type
9.1.1.6.2 Rest of Europe: EDM Wire Market, by Industry
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Mergers and Acquisition
10.4 New Product Development
11. Company Profiles
11.1 Berkenhoff GmbH
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Hitachi Metals Ltd.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Sumitomo Electric Industries, Ltd.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Novotec
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Opecmade, Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Oki Electric Cable Co., Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Thermo Compact
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Yuang Hsian Metal Industrial Corporation
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 boway Group
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Europe EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Table 2. France: EDM Wire Market, by Wire Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. France: EDM Wire Market, by Industry– Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: EDM Wire Market, by Wire Type– Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: EDM Wire Market, by Industry– Revenue and Forecast to 2028 (US$ Million)
Table 6. Italy: EDM Wire Market, by Wire Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Italy: EDM Wire Market, by Industry– Revenue and Forecast to 2028 (US$ Million)
Table 8. UK: EDM Wire Market, by Wire Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. UK: EDM Wire Market, by Industry– Revenue and Forecast to 2028 (US$ Million)
Table 10. Russia: EDM Wire Market, by Wire Type– Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia: EDM Wire Market, by Industry– Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of Europe: EDM Wire Market, by Wire Type– Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe: EDM Wire Market, by Industry– Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe EDM Wire Market Segmentation
Figure 2. Europe EDM Wire Market Segmentation – By Country
Figure 3. Europe EDM Wire Market Overview
Figure 4. Europe EDM Wire Market, by Wire Type
Figure 5. Europe EDM Wire Market, By Industry
Figure 6. Europe EDM Wire Market, By Country
Figure 7. Europe – PEST Analysis
Figure 8. Europe EDM Wire Market- Ecosystem Analysis
Figure 9. Expert Opinions
Figure 10. Europe EDM Wire Market: Impact Analysis of Drivers and Restraints
Figure 11. Europe EDM Wire Market Revenue Forecast and Analysis (US$ Million)
Figure 12. Europe EDM Wire Market, By Wire Type (2021 and 2028)
Figure 13. Europe Brass: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Zinc-coated: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Non-coated: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Europe EDM Wire Market, By Industry (2021 and 2028)
Figure 17. Europe Aerospace: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Industrial and General Mechanics: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe Automotive: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe Healthcare: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Electronics: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Europe Others: EDM Wire Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe: EDM Wire Market Revenue Share, by Key Country- Revenue (2021) (US$ Million)
Figure 24. Europe: EDM Wire Market Revenue Share, by Key Country (2021 and 2028)
Figure 25. France: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Germany: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Italy: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. UK: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Russia: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Rest of Europe: EDM Wire Market – Revenue and Forecast to 2028 (US$ Million)
- Berkenhoff GmbH.
- Hitachi Metals Ltd.
- SUMITOMO ELECTRIC INDUSTRIES.
- NOVOTECH.
- OPECMADE, Inc.
- OKI Electric Cable Co., Ltd.
- THERMO COMPACT.
- Yuang Hsian Metal Industrial Corporation.
- boway Group
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe EDM wire market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe EDM wire market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the EDM wire market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Europe EDM Wire Market Revenue and Forecast to 2028 (US$ Million)