Jan 21, 2021   SOURCE: BusinessWire

New Electrical Discharge Machine Market Research 2021-2025 | COVID-19 Industry Impact and Recovery | Technavio

The new electrical discharge machine market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Electrical Discharge Machine Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Electrical Discharge Machine Market 2020-2024 (Graphic: Business Wire)

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"One of the primary growth drivers for this market is the rise in automation: industrial revolution 4.0,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the electrical discharge machine market size to grow by USD 1.31 billion during the period 2020-2024.

Electrical Discharge Machine Market Segment Highlights for 2020

  • The electrical discharge machine market is expected to post a year-over-year growth rate of -8.65%.
  • Based on the end-user, the machine shop segment saw maximum growth in 2020. Factors responsible for the machine shop market segments’ growth is the rapid growth in the emerging markets and developing countries, mining sectors, and industrial production.
  • The growth of the market segment is expected to be significant throughout the forecast period.

Regional Analysis

  • 59% of the growth will originate from the APAC region.
  • The increasing demand for EDM machines from various countries is one of the prime factors that will facilitate the electrical discharge machine market growth in APAC over the forecast period.
  • China and Japan are the key markets for electrical discharge machine in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Notes:

  • The electrical discharge machine market size is expected to accelerate at a CAGR of almost 5% during the forecast period.
  • The electrical discharge machine market is segmented by End-user (Machine shop, Aerospace & Defense, Medical, Automotive, and Others) and geography (APAC, North America, Europe, South America, and MEA).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including Beaumont Machine, Belmont Equipment & Technologies, Ching Hung Machinery & Electric Industrial Co. Ltd., Georg Fischer Ltd., Makino Milling Machine Co. Ltd., Mitsubishi Electric Corp., Novick Digital Equipment Co. Ltd., ONA Electroerosion SA, Sodick Inc., and Yihawjet Enterprises Co. Ltd.

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