Spark Machining Market Size, Share, Growth, and Industry Growth by Type (Sinker EDM, Wire EDM and Hole Drilling EDM) By Application (Automotive and Production Machinery, Military and Aerospace, Electronics, Medical Device and Others) Regional Forecast From 2024 to 2031

Updated On: 22 April 2024

Spark Machining Market Report Overview

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The global spark machining market size expanded rapidly in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the spark machining market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2028, a robust CAGR during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A type of electric discharge machine is the spark machining. In situations where using traditional milling machines or lathes is not an option, such as when working with materials that are particularly difficult to machine, such as those that have sharp corners, we need electrodes, and hexagonal-shaped pockets are produced by sharp electrodes with a hexagonal shape. It might be an internal or exterior spine electrode, a barrel electrode or even a threaded electrode that supports copper graphite or even copper tungsten. In the process of spark machining, oil is used as a dielectric fluid to enclose the electrode and the workpiece. The workpiece works as a resistor between the electrode and the electrode when a regulated power and distance are supplied. The result is the proper spark. The power supply and its location may be very accurately controlled by the machine and program after the dielectric fluid is jumped and a little quantity of workpiece enters the servo and corrodes from the desired position.

COVID-19 Impact: Halted Manufacturing and Lockdown to Hamper the Market Growth

The COVID-19 pandemic has halted manufacturing of a number of items in the automobile sector, particularly because major worldwide nations have been under a protracted lockdown. It's been a while since I've been able to get a hold of a copy of the book, but I've been meaning to. Equipment and machinery sales have already been impacted by COVID-19 in the first quarter of 2020, and the market growth is projected to suffer throughout the year. However, it is yet unclear how the lockout may affect the economy, and enterprises' ability to recover financially depends entirely on their cash reserves. Companies that deal in machinery and equipment can only afford a complete lockdown for a limited period of time before having to change their investment strategies.

LATEST TRENDS

"Increased Demand of Automated Machinery in Various Sectors to Augment the Market"

There will be a demand for new machines as well as the replacement of current machines with more energy-efficient spark machining due to the rising production of light automobiles in several nations, including Japan. Automation makes it possible to prioritize the workflow, which increases productivity and flexibility for professionals in emergency situations. Spark machining is more in demand as a result of the increased need for automated machinery in many sectors. In addition, the development of technologies such as cloud computing, the industrial internet of things, and others has significantly boosted the need for spark machining.

Spark Machining Market Segmentation

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• By Type Analysis

By type, market is segmented into sinker EDM, wire EDM and hole drilling EDM. The sinker EDM type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into automotive and production machinery, military and aerospace, electronics, medical device and others. The automotive and production machinery   segment will lead the global share through 2028.

DRIVING FACTORS

"Expansion of Automation Across Sectors to Push the Market"

A significant growth factor for the market for spark machining is the expansion of automation across sectors. The market for spark machining is also significantly fueled by the advancement of technology, including cloud computing, the industrial internet of things, and other fields. The market for spark machining is becoming more and more popular as a result of the hard metals like titanium that are highly challenging to cut through the milling process. Spark machining is a versatile tool that may be used for simultaneous milling, cutting, cleaning, and eroding.

"Introduction of New, Technologically Improved Items to Impel the Market"

The market's growth may be boosted by the introduction of new, technologically improved items. Such goods with distinctive qualities have been widely released in the market during the past several years.

On the basis of industrial evolution 4.0, producers are now creating new goods. The market for spark machining is becoming more in demand as automated machinery usage grows across all sectors.

RESTRAINING FACTORS

"Sluggish Process Compared to Conventional Milling to Impede the Market Growth"

Nevertheless, compared to conventional milling, spark machining is a sluggish process, which is a significant disadvantage that might restrain market expansion. On the other hand, the need for spark machining in the automotive and aerospace sectors is opening up new markets for this industry.

Spark Machining Market Regional Insights

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"Asia Pacific’s Spark Machining Market to Grow Exponentially with the Forecasted Period"

The market for spark machining is thought to be driven by the rapidly developing Asia Pacific region's strong need for industrial activities and the automation sector. With a considerable increase in the production of hard tools, which also drives the market for spark machining since spark machining makes it possible to shape these hard tools to the appropriate shape, North America now holds the biggest market share in this industry. With the rising need for lightweight automobiles, spark machining is frequently employed in the automotive industry. The mechanical method of spark machining can assist with the shape of metals in many industrial settings.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Mitsubishi Electric (Japan)
• Sodick (U.S.)
• GF Machining (Switzerland)
• Makino (Japan)
• FANUC (Japan)
• CHMER EDM (China)
• ONA Electro erosion (U.S.)
• OPS Ingesoll (Germany)
• Methods Machine Tools (U.S.)
• Exeron (Greece)
• Shanghai Esuntek Machinery (China)
• Zimmer & Kreim (ZK) (Germany)
• Excetek Technology (China)
• Beaumont Machine (U.S.)
• Seoul Precision Machine (South Korea)
• Knuth (Germany)
• AccuteX (U.S.)
• Yan Yang (Canada)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.