DUBLIN, Sept. 24, 2019 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
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.
Electron beam machining market is expected to exhibit significant growth potential 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.
The 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.
- Benefits of Electron Beam Welding
- Demand for Welding in Aerospace and Automotive Industries
- Availability of Alternative Micromachining Technologies
- Generation of X-Rays During Electron Beam Welding Process
- Cost-Effective Welding for Large Scale Production
- Limitation on the Workpiece Size Due to Vacuum Chamber Size
- Requirement of Highly Trained Personnel
- High Capital/Set-Up Cost of Electron Beam Machines
Electron Beam Machining System Components
Factors Affecting the Electron Beam Machining Performance
- Acceleron Inc.
- B.C. Instruments
- Beijing Zhong Ke Electric Co. Ltd.
- Cambridge Vacuum Engineering
- Creative Instrumentation
- EB Industries
- EBWA Industries
- Focus GmbH
- Global Beam Technologies
- Joining Technologies
- Josch Strahlschweitechnik GmbH
- Mitsubishi Electric
- Ravenscourt Engineering
For more information about this report visit https://www.researchandmarkets.com/r/gez0w5
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