Worldwide Demand for Electronic Beam Machining Market Will Surge at 6.5% During 2023 And 2033 | Future Market Insights, Inc.

The global electronic beam machining market will likely reach a valuation of US$ 379.8 million by 2033 while recording a positive CAGR of 6.5% from 2023 to 2033. In 2023, the target market will reach an estimated US$ 201.7 million. This growth is due to the surging popularity of electron beam machining in the aviation and automobile sectors. Increasing demand for welding in the automotive and aviation industries and the advantages of a high-tech and standardized approach to welding will propel the electron beam machine market forward in the upcoming years.

A kind of thermal machining that uses high-velocity electrons condensed into a narrow beam to heat, melt or vaporize the material rapidly. This approach finds numerous applications including welding, cutting, annealing, and drilling. Heightened demand for welding of all sizes and essential automotive parts, as well as rising automobile production, will account for the long-term growth of this market. Historically, the market for electron beam machining market grew at a CAGR of 4.4% from 2018 to 2022 and it is predicted that the market will earn substantial revenue during this period of observation. Further, as per FMI, the top five market participants will hold about 32% of the total market share.

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Rising demand for welding in the aerospace and automobile sector will drive the expansion of this market size. The popularity of this technique, the velocity of machining, the elevated need for soldering, and external heat solution for power trains, axles, cog pieces, and other goods are a few of the other factors that facilitate the growth of the electron beam machining market. The advancing manufacturing, healthcare, automotive, aerospace, IT, and telecom industries across the globe will aid the growth of the electron beam machining market. Moreover, the emergence of new technologies and the current demand for affordable welding will open up new opportunistic avenues for the electron beam machining market. While these considerations will drive the growth of the market, factors like high costs and investments and a lack of trained professionals will impede the growth of the electron beam market.

Key Takeaways:

• By end-use industry, the automotive segment will dominate the international marketplace.
• Based on application, the drilling and welding segments will register high growth rates.
• The US electron beam machining market will account for 36.4% of the global market share.
• The expanding automotive sector in Germany will drive the electron beam machining market forward in the country.
• The electron beam machining market in India will grow at a CAGR of 6.4% during the assessment period.

Competitive Landscape 

Bodycote, Evobeam GmbH, FOCUS, Sodick, TETA, Mitsubishi Electric Corporation, Sciaky Inc., and Cambridge Vacuum Engineering, among others, are some of the leading participants in the electron beam machining market profiled in the full version of the report.

In a competitive market, key players are focusing on product innovation and development to attract a wider consumer base. These businesses also launch novel products to enhance their market position. Partnerships, collaborations, and agreements are also employed by these companies. For instance, in December 2022, Schott, a German multinational glass firm, partnered with 3D-Micromac, a specialist in laser micromachining, to develop laser cutting technology.

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Electronic Beam Machining Market Segmentations-

By Product:

• Welding
• Surface Treatment
• Drilling

By Industry:

• Aerospace
• Defence
• Industrial
• Others

Table of Content

1. Executive Summary | Electronic Beam Machining Market

    1.1. Global Market Outlook

    1.2. Market Analysis

    1.3. Analysis and Recommendations

2. Market Overview

    2.1. Market Definition

    2.2. Market Taxonomy

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Product Innovation Trends

More Insights Into Electron Beam Machining Market 

FMI offers an unbiased analysis of the global electron beam machining market in its latest report, delivering historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. This report provides a holistic study of a ten-year sales forecast, market drivers, restraints, trends, and opportunities. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, industry, and region.

As per the reports, based on segmentation, the automotive industry will generate high demand for the electron beam machining market. Expansive use of electron beam equipment in this industry for welding purposes will contribute to the overall market growth. In terms of application, the drilling segment will gain traction over the forecast period and record high growth rates. Based on region, the electron beam machining market in North America will demonstrate strong growth. The target market in this region will account for about 33.3% of the market share. The advancing manufacturing, healthcare, IT, and telecom sectors will push the electron beam market forward in this region. South Asia & Pacific will also present notable growth in the part with a CAGR of 15.6%. Thus, North America, and South and Pacific Asia are two regions that will make significant contributions to the global electron beam machining market.

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