With the flourishing industrial sector, including manufacturing, construction, mining, oil & gas, and utilities, the demand for cutting equipment such as waterjet cutting machine (WJCM) consumables is expected to significantly rise during the forecast period. Many manufacturers are looking to enter the market in the Middle East & Arica as well as Asia Pacific with the hope of expanding their geographical footprint by capitalizing on the heavy demand that is benefiting the waterjet cutting machine consumables market.
To be successful, companies are focusing more on developing products that comply with the respective safety norms of local markets. With effective research, development, and innovation, global manufacturers can capture opportunities in unexploited regions and increase their market share.
Increased Cutting Efficiency with Use of Garnet Abrasives
Garnet has a varied range of industrial application, out of which, it is estimated to hold around 35% share in the waterjet cutting machine consumables market, globally. This demand for abrasives is anticipated to rise, precisely for abrasive blasting media and waterjet cutting. Large reserves of garnet are mainly found in the Asia pacific region, where India has accounted for 48% volume share of the total global production, followed by China (31%), Australia (16%), and the remaining (5%) by the U.S. and other countries in Europe.
India and China are expected to increase garnet production steadily to become vital sources of garnet abrasives for other countries. The abrasives segment in the WJCM consumables market is estimated to hold more than one-half of the market volume share, and the operating cost for abrasive is nearly 50%. Hence, the APAC region is anticipated to hold potential opportunities over the forecast period of 2020 to 2030.
Gradual Switch from Laser Cutting to Waterjet Cutting Technology
Increasing demand for high precision and improved cutting speed has uplifted the adoption of waterjet cutting technologies. Pure waterjet cutting machines are widely used for cutting soft materials, such as foam, plastic, rubber, and composites. On the other hand, abrasive waterjet cutting, which uses a mixture of water and abrasives at a high pressure stream, is used to cut hard metals such as stainless steel, cast iron, etc. Furthermore, these machines help in cutting products more efficiently and precisely, and also allow multiple operations at a given time. Many end-use sectors across the globe, such as the toy industry, food and beverages, plastics, mild steel, and aluminum, have installed waterjet cutting systems to increase their productivity in their machining divisions.
Rise in demand for existing development and future growth of economies
Manufacturing sub-sectors such as plastic & rubber, food & beverages, base metal, etc., accounted for more than 53% of non-oil export business due to the availability of low-cost energy. These industries are expected to witness substantial growth in the coming years, which will result in substantial growth of the waterjet cutting machine consumables market over the forecast period.
The COVID-19 pandemic is currently impacting the global economy at various levels, and the manufacturing industry has not been spared. The outlook remains uncertain for the remaining half of the year, as the scope of the virus and its impact on production, demand, and supply chains are anticipated to impede the overall growth of the WJCM consumables market.
As per analysts’ review, the waterjet cutting machine consumables market is growing at a modest rate. Laser/plasma cutting machines will be replaced by more environmental-friendly waterjet cutting machines. Key manufacturers in the waterjet cutting machine consumables market are acquiring and partnering with local manufacturers in order to deliver world-class products and services across regions. China and India are fast-growing economies, and thus, are focusing on expanding their production infrastructure to manufacture waterjet cutting machine consumables, such as waterjet nozzles, orifice, grates, and others. Significant market opportunity is anticipated to come from the Asia Pacific waterjet cutting machine consumables market, in terms of sales, in the coming years.
Waterjet Cutting Machine Consumables Market - Scope of the Report
Persistence Market Research (PMR) recently published a study report on the global waterjet cutting machine (WJCM) consumables market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the waterjet cutting machine consumables market structure. This market research report presents exclusive facts and figures about how the waterjet cutting machine consumables market will grow over the forecast period.
Key indicators of market growth, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the waterjet cutting machine consumables market over the forecast period.
The study is relevant for stakeholders in the waterjet cutting machine consumables market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the waterjet cutting machine consumables market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the macro- as well as macro-economic factors that are impacting the growth of the waterjet cutting machine consumables market. The study also offers actionable insights based on the future trends in the WJCM consumables market. Furthermore, regional players and new entrants in the waterjet cutting machine consumables market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Waterjet Cutting Machine Consumables Market
PMR’s study on the waterjet cutting machine consumables market is divided into four significant segments - product, application, end use, and region. This report offers comprehensive data and information about important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Waterjet Cutting Machine Consumables Market Report
Waterjet Cutting Machine Consumables Market: Research Methodology
In PMR’s research report, an exclusive research methodology is utilized to conduct comprehensive research on the development of the waterjet cutting machine consumables market, and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure precision and reliability of the conclusions.
Secondary resources are referred to by analysts during the evaluation of the waterjet cutting machine consumables market study, and comprise facts and figures from the World Bank, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary and secondary resources is validated from companies operating in the market to make PMR’s projections on the growth prospects of the waterjet cutting machine consumables market more accurate and reliable.