According to our latest market study on "EDM Wire Market Forecast to 2028 -Global Analysis - by Wire Type and Industry," the market is expected to grow from US$ 2,356.92 million in 2022 to reach US$ 3,450.17million by 2028; it is anticipated to grow at a CAGR of 6.6% from 2022 to 2028.

The Middle East & Africa EDM wire market is divided into South Africa, Saudi Arabia, and the UAE, and its growth in the region is primarily driven by the thriving automotive industry. The Gulf area has a substantial number of vehicles, including light, medium, and heavy commercial ones, exceeding 2 million. The EDM wire market in the region is expanding due to the rising demand for high-end cars and the strong logistics sector in Dubai. The Dubai Chamber of Commerce and Industry reported that in 2021, Dubai's export and re-export value of vehicles increased by 21.8% YoY, totaling US$ 40.10 billion.

During the forecast period, the EDM wire market share in Saudi Arabia may be positively influenced by the continuing growth of the medical industry. The country contributes approximately 60% to the total healthcare spending of the Gulf Cooperation Council (GCC) nations. The US Department of Commerce's International Trade Administration reported that in 2022, Saudi Arabia allocated US$ 36.8 billion, equivalent to 14.4% of its 2022 budget, for healthcare and social development. Furthermore, the Saudi Arabian Government plans to invest nearly US$ 65 billion in creating a well-established healthcare infrastructure by 2030. Meanwhile, South Africa is experiencing a surge in its automotive sector. Significant investments have been made to expand the industry, with major vehicle manufacturers investing US$ 534.3 million (ZAR 8.8 billion) in 2021, according to the country's automotive business council, NAAMSA. Consequently, the growth of the automotive sector is expected to drive the EDM wire market growth in South Africa.

The growth of Saudi Arabia's healthcare sector is having a positive impact on the country's EDM wire market size. Saudi Arabia is responsible for around 60% of the healthcare spending of the Gulf Cooperation Council (GCC) nations. The Saudi Arabian government is also planning to invest more than US$ 65 billion towards enhancing the country's healthcare infrastructure by 2030. Additionally, the government is increasing investment in the aerospace sector, given that the country already has 897 military aircraft. In March 2022, the Ministry of Investment in Saudi Arabia signed twelve agreements with both local and international investors to increase investment in the aerospace and defense industry, aimed at developing the region's military aerospace manufacturing sector. Consequently, all these factors are driving the growth of the EDM wire market in the country.

Key Findings of Market Study:
According to market analysis, leading players in the EDM wire market, such as Oki Electric Cable Co., Ltd., Sumitomo Electric, Hitachi Metals, and Novotec BV, hold a significant market share. These companies offer a wide range of data converters suitable for various applications, including aerospace, automotive, healthcare, among others. Their strong brand reputation, extensive product portfolio, favorable word of mouth, and significant revenue generation from Brass, Zinc-coated, and other EDM wires have positioned these players in the leader's quadrant.

Berkenhoff GmbH and Thermo Compact are other prominent and well-established players with a strong market position in the study of EDM wire market due to their extensive experience in developing EDM wires for dynamic manufacturing applications. The above analysis has recognized these players as leaders in the EDM wire market.

The EDM wire market is witnessing an influx of new businesses to meet the growing demand from the manufacturing, healthcare, automotive, aerospace, and electronics industries. Companies like Excetek are exploring the dynamic industrial sector by leveraging the potential of EDM wires. This trend is expected to provide new startups with opportunities to attract more customers and generate revenue.

The EDM wire market analysis has been conducted based on wire type and industry. The wire type segment is further categorized into brass, zinc-coated, and non-coated. On the other hand, the industry segment includes aerospace, industrial & general mechanics, automotive, healthcare, electronics, and other sectors.

The growth of the EDM wire market in the healthcare industry is being fueled by factors such as the adoption of less-invasive micro medical devices and the demand for the latest micro devices. Similarly, the production of new components and parts for the automotive industry is another factor that is expected to drive revenue growth for the EDM wire market analysis.

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