Electron Beam Machining Market by Application (Welding, Surface Treatment, and Drilling), Industry (Automotive and Aerospace & Defence), and Geography (North America, Europe, Asia Pacific, RoW) - Global Forecast to 2024
“Electron beam machining market is expected to exhibit significant growth potential between 2019 and 2024”
The electron beam machining market is expected to be valued at USD 181 million in 2019 and is likely to grow USD 212 million by 2024, at a CAGR of 3.2% between 2019 and 2024. The growing need for high speed welding, surface finishing, and drilling of materials in various industries, demand for high quality welding of critical components in aerospace & automotive industry, machining of highly reacting materials and dissimilar materials, high speed machining process with less distortion, and need of good surface finish are expected to be the key factors propelling the growth of the electron beam machining market.
“Electron beam welding application to account for the largest share in the global electron beam machining market”
Electron beam welding is a high-tech joining solutions for all the metals even for welding of dissimilar metals, which is the biggest advantage of this technology. Electron beam welding is considered as the cost-effective and precision welding solution for mass production, producing high quality and narrow welds in various industries. The wide range of benefits of electron beam welding results in the highest growth rate from 2019 to 2024.
“Automotive industry is expected to register at the highest CAGR in the global electron beam machining market”
The automotive industry is expected to grow at the highest CAGR in the global electron beam machining market. The increased production of the automobiles and need of processing done on the auto parts need for welding of small to large & critical automobile components such as gear parts, shafts and turbochargers are the factors which are expected to drive the demand for electron beam machining market subsequently.
“Europe contributed the highest market share in electron beam machining market in 2019”
The market in Europe is expected to have the highest market share in 2019 because of the factors such as Europe being the major exporter of electron beam machines to other regions. Increasing demand for EB welding technology in automotive & aerospace industry due to large scale production of automobiles and presence of aircraft manufacturers in the European region, and presence of major players serving all the major electron beam machining applications such as welding, surface treatment & drilling are the factors which are fueling the growth of the market.
In-depth interviews were conducted with C-level executives, managers, and other executives from various key organizations operating in the Electron beam machining market.
By Company Level: Tier 1 – 20%, Tier 2 –35% , Others – 45%
By Designation Level: C – Level – 35%, D – Level – 25%, Others – 40%
By Region: North America – 25%, Europe – 30%, APAC – 30% , RoW – 15%
Major players included in the electron beam machining market are Global Beam Technologies (Germany), Mitsubishi Electric (Japan), and pro-beam (Germany). The other key players in this market include companies such as Cambridge Vacuum Engineering (UK), Sciaky (US), Bodycote (UK), Beijing Zhong Ke Electric Co.Ltd. (China), Sodick (Japan), TETA (Russia), FOCUS GmbH (Germany), Evobeam (Germany), and AVIC (China), among others
The research report on the global electron beam machining market covers different segments, namely, application, industry, and geography. The market has been segmented based on application into welding, surface treatment, and drilling. Also, the electron beam machining market has been classified based on industry into automotive, aerospace & defense, and others. The report covers four major geographical regions; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on application, industry, and geography have been conducted to give an overall view of the electron beam machining market.
The major drivers, restraints, opportunities, and challenges for the electron beam machining market have been detailed in this report.
The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.
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