Waterjet Cutting Machines Market
Global Market Study on Waterjet Cutting Machines: Increasing Demand from Automobile Industry to Surge Market Growth
Waterjet Cutting Machines Market is segmented by Pump Type that is Direct Drive Pumps, Intensifier Pumps also by its Pressure Range that is Up to 4200 Bar, More than 4200 Bar and by its application that is One Dimensional Cutting, Two Dimensional Cutting, Three Dimensional Cutting.
The automobile sector will witness moderate growth in the coming years, which is anticipated to be the key driving factor for the growth of the global waterjet cutting machine market. The requirement of strict cutting tolerance in precision cutting, which is crucial in automobile manufacturing, is well-served by waterjet cutting machines.
Asia Pacific is the fastest-growing regional market, and is expected to drive the growth of the global market during the forecast period (2020 to 2030). In emerging markets such as India, China, and South Korea, economic growth has led to an increase in the demand for waterjet cutting technologies. This, in turn, is acting as a major driver for market growth.
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- A Innovative International Ltd.
- Caretta Technology s.r.l.
- CMS Industries
- DARDI International Corporation
- Flow International Corporation
- Foshan Yongshengda Machinery Co., Ltd.
- H2O Jet
- Hornet Cutting Systems
- Hypertherm Inc.
- International Waterjet Machines
- Jet Edge, Inc.
- KMT Waterjet
- Koike Aronson, Inc.
- Metronics Technologies S.L.
- OMAX Corporation
- Semyx, LLC
Promising Demand from Aerospace and Healthcare Sectors
Abrasive waterjet cutting with five to six axis motion control is widely preferred in the aerospace industry for the precise metal cutting of composites, titanium, Inconel, etc. Waterjet cutting technology is an ideal solution for the aerospace industry, since there is no heat affected zone and burrs, which eliminates the need for secondary operations.
Waterjet cutting machines are extensively used for precision cutting solutions of aerospace parts such as fuselages, engine components, interior cabin panels, rotary blades, etc. Waterjet technology has an edge over other technologies for medical applications too, as there is no heat, and it cuts material without altering its structural properties.
Being a cold-cutting process, the use of technology is expected to continue in medical applications, due to its ability to shape medical parts precisely without changing the properties of the material.
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Growth of Manufacturing Industry and Rapid Urbanization to Boost Global Waterjet Cutting Machine Market
Increasing infrastructural development in emerging economies such as Indonesia, Thailand, China, and India, as well as the Philippines, in the APAC region, has led to an increase in the total spending in industries such as metal working, automotive, and aerospace.
Bangladesh and ASEAN countries are expected to emerge as new manufacturing hubs, and are foreseen to see potential growth in the manufacturing sector. Overall economic growth, coupled with changing global demographics and prompt urbanization, is expected to create further demand for waterjet cutting machines.
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Focus of Manufacturers on Introducing New Products
Introduction of new products in the market has been the main focus of key market participants in order to gain a competitive advantage as well as to meet the increasing demand pertaining to technological advancements.
For example, in February 2018, the H-model waterjet cutting machine was showcased for the first time by Waterjet Sweden at Euro Blech 2018. The machine comes with features such as clamping, air-over-oil hydraulic cooling, adjustable water height, laser plate alignment, and laser height control.
The COVID-19 pandemic is currently impacting the global economy at various levels, and the manufacturing industry has not been spared. This has reflected in a significant slowdown in spending in the first half of 2020, as it reverberates through every sector of the economy.
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 chain is anticipated to impede overall growth of the waterjet cutting machine market.
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The Covid-19 Impact
As the global coronavirus pandemic continues to escalate around the world, manufacturers are taking action to minimize risks to their workforce and customers. Restrictions on visits to production facilities for non-essential reasons, workplace policy changes, and extensive efforts toward sanitization are key factors that are gaining importance across the globe.
While waterjet cutting machine manufacturers are pushing to produce and move inventory, government restrictions on industry and logistics are anticipated to cut into the demand for waterjet cutting machines in end-use industries, in the coming months. Also, recovery is largely dependent on global efficiency in handling the present crisis.
The waterjet cutting machine market is growing at a moderate rate. With advancements in water cutting technology, the demand for small-nozzle, micro-cutting waterjet cutting machines is growing. The study reflects that, the metal fabrication industry is anticipated to create significant growth opportunities for the global waterjet cutting machine market.
The market is estimated to grow beyond established regions such as Europe and North America, toward developing regions such as South Asia and East Asia. By increasing sales offices and distribution centers, global manufacturers are focusing on expanding their businesses. Significant market opportunity is anticipated to occur in the Latin America waterjet cutting machine market in terms of sales in the coming years.
Key Segments of Waterjet Cutting Machine Market
PMR’s study on the waterjet cutting machine market is divided into five significant segments - pump type, application, pressure range, end-use industry, and region. This report offers comprehensive data and information about important market dynamics and growth parameters related to these categories.
Key Questions Answered in Report
- How much is the waterjet cutting machines market worth?
The waterjet cutting machines market is estimated to be worth US$ 4.2 Bn by the year 2021.
- What will be the demand outlook?
The global waterjet cutting machines market is expected to grow twice between 2021 and 2031.
- What was the last 5 year market CAGR?
The waterjet cutting machines market witnessed a CAGR of 6.7% between 2015 and 2020.
- What are the key trends of waterjet cutting machines market?
Inclination towards mechanized cutting all through industrial sector in the developing countries is the key trend pertaining to waterjet cutting machines market.
- What is driving the demand for waterjet cutting machines?
Excessive demand for steel due too rapid urbanization is driving the demand for waterjet cutting machines.
- What is the market share of top 5 players?
The top 5 players such as Colfax Corporation, Flow International, Lincoln Electric Holdings, Koike Aronson, Inc., and Omax Corporation hold more than 55% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include the US, India, Germany, UK, and China.
- What is North America’s market Outlook?
North America holds more than 80% of the market share in terms of production due to the US.
- At what percentage waterjet cutting machines market is going to register growth in Europe?
Europe is expected to register growth at the rate of 4.5% in the waterjet cutting machines market between 2021 and 2031.
- What are the key market statistics in Korea and Japan?
Japan and Korea are expected to go steady in the waterjet cutting machines market between 2021 and 2031.