The EDM wire market in Middle East & Africa is expected to grow from US$ 110.60 million in 2022 to US$ 146.67 million by 2028. It is estimated to grow at a CAGR of 4.8% from 2022 to 2028.
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 MEA EDM wire market.
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 MEA EDM wire market.
Market Overview
South Africa, Saudi Arabia, UAE, and rest of Middle East & Africa are the key contributors to the EDM wire market in the Middle East & Africa. The Middle East & Africa EDM wire market is further segmented into South Africa, Saudi Arabia, and the UAE. The market growth in this region is attributed to the proliferating automotive industry. The Gulf region is home to more than 2 million vehicles, consisting of light, medium, and heavy commercial vehicles. The increasing domestic demand for high-end cars and a robust logistics sector in Dubai are the key contributors to the Middle East & Africa EDM wire market growth in Middle East & Africa. According to the Dubai Chamber of Commerce and Industry, Dubai’s value of export and re-export of vehicles surged by 21.8% year-on-year in 2021, reaching US$ 40.10 billion. The ongoing growth in the medical industry in Saudi Arabia also has the potential to fuel the growth of the EDM wires market during the forecast period. The country accounts for ~60% of the total healthcare expenditure of the Gulf Cooperation Council (GCC) countries. According to the International Trade Administration of the US Department of Commerce, in 2022, Saudi Arabia announced the spending of US$ 36.8 billion on healthcare and social development, which is 14.4% of its 2022 budget. In addition, the Saudi Arabian Government is planning on investing ~US$ 65 billion to have a well-developed healthcare infrastructure by 2030.Middle East & Africa EDM Wire Market Segmentation
The Middle East & Africa 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 South Africa, Saudi Arabia, UAE, rest of Middle East & Africa. Saudi Arabia dominated the market share in 2022.
Table of Contents
1. Introduction
3. Research Methodology
4. MEA EDM Wire Market Landscape
5. MEA EDM Wire Market - Key Market Dynamics
6. EDM Wire Market - MEA Market Analysis
7. MEA EDM Wire Market Revenue and Forecast to 2028 - Wire Type
8. MEA EDM Wire Market Revenue and Forecast to 2028 - Industry
9. MEA EDM Wire Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned
- Berkenhoff Gmbh.
- Hitachi Metals Ltd.
- Sumitomo Electric Industries.
- Novotech.
- Oki Electric Cable Co., Ltd.
- Yuang Hsian Metal Industrial Corporation.
- Boway Group.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | November 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 110.6 Million |
| Forecasted Market Value ( USD | $ 146.67 Million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 7 |
