EDM Wires Market to Derive Growth from the Increasing Number of Construction Projects, states Fortune Business Insights™

Key Companies Covered in EDM Wires Market Research Report Are Powerway Group, Oki Electric Cable Co.Ltd, THERMOCOMPACT, Sumitomo Electric Industries Ltd., Tamra Dhatu, Senor Metals Pvt. Ltd, YUANG HSIAN METAL INDUSTRIAL CORP., Novotec BV, J. G. Dahmen GmbH & Co. KG.

/EIN News/ -- Pune, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Growing number of construction projects around the world is a key factor expected to enable healthy growth of the market during the forecast period, states Fortune Business Insights in a report, titled “EDM Wires Market Size, Share & Industry Analysis, By Wire Type (Non coated wire, Coated wire, Hybrid wire), By Application (Automotive, Aerospace, Medical, Energy, Die and Mold, Others) and Regional Forecast, 2019-2026” the rising demand for EDM wires in oil and gas refineries is predicted to boost the EDM wires market trends.

The EDM wires market report offers informative insights into all the prevailing trends of the EDM wires market analysis. It shares a comprehensive summary of all the segments and regions. It provides statistical data on all the recent developments in the market. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. It is designed with an aim to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and innovations and industry developments.

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Competitive Landscape

Collaboration Between Makino and Global EDM Supplies to Boost Growth Prospects

Makino, Inc., an industry-leading machinery company, announced its merger with EDM consumables supplier Global EDM Supplies.  The alliance between the two companies is predicted to aid in the company’s SST Consumables business, providing customers with broader geographic reach, greater product diversity and increased accessibility to experienced technical services and support. Moreover, the integration of Global EDM supplies into SST is likely to aid the robust network of engineers, which in turn will boost the EDM wires market revenue during the forecast period.

Moreover, Don Lane, CEO of Makino Inc., said in a statement, “we are very pleased to continue our growth in the consumables business through the merger of Global EDM Supplies. He further added, “we look forward to better serving our customers through the addition of Global’s skilled and experienced personnel, geographic presence and product portfolio. Moreover, the development of the new line of EDM wire consumables by major key players is predicted to aid the expansion of the EDM wires market during the forecast period. For instance, in April 2017, Sodick announced a new line of EDM wire consumables, in order to achieve higher cutting speed.

However, fluctuations in the availability of raw materials is expected to hinder the growth of the EDM wires market size. The growing production costs of EDM wires can dampen the EDM wires market share.

Regional Analysis

Rapid Urbanization and Industrialization to Back Growth in Asia Pacific

Geographically, the market is classified into North America, Asia Pacific, Europe, Latin America and the Middle East and Africa. Asia Pacific is predicted to witness high growth rate during the forecast period owing to the rapid urbanization and industrialization. The rapid development in transmission and distribution networks is expected to aid growth in the region. The booming automobile industry and high automobile production is expected to spur opportunities for the EDM wires in Asia Pacific. North America is predicted to grow substantially owing to the surge in governmental initiatives for the expansion and up-gradation of existing infrastructure. Moreover, the growing renewable energy production in the U.S and Canada is likely to create new growth opportunities for the EDM wires market value in Asia Pacific. For instance, U.S DOE announced to invest a sum of USD 6.6 million in the hydroelectric production incentive program.

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The Report Lists the Main Companies in the EDM Wires Market

• Powerway Group
•  Oki Electric Cable Co.Ltd
•  THERMOCOMPACT
• Sumitomo Electric Industries Ltd.
•  Tamra Dhatu
•  Senor Metals Pvt. Ltd
•  YUANG HSIAN METAL INDUSTRIAL CORP.
•  Novotec BV
•  J. G. Dahmen GmbH & Co. KG.

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