The influence of the green movement, worldwide, is forcing manufacturers to use ecofriendly technologies for metal cutting processes, which will reduce the emission of toxic gases and waste/mud generated by manufacturing industries. The adoption of waterjet cutting machines (WJCMs) can reduce such emissions. Moreover, the mixture of abrasives and water, which is generated after the cutting process, can be filtered, and 60% of it can be re-used during the cutting process.
Waterjet cutting machine consumables find application in several industries such as automotive, metal cutting, ceramics, and electronics. A study by PMR on the waterjet cutting machine consumables market concludes that, the market is anticipated to reach a valuation of US$ 3.1 Bn by the end of 2030, expanding at a decent CAGR of 5 % over the forecast year (2020-2030).
Key Takeaways of Waterjet Cutting Machine Consumables Market Study
- The use of laser/plasma cutting machines will reduce, to be replaced by more environmentally-friendly waterjet cutting machines.
- Waterjet cutting machines decrease the dependency on manpower in metal cutting industries, and this factor is indirectly helpful for the consumables market, owing to the accuracy and efficiency of these machines.
- Metal fabrication is anticipated to progress at a relatively high CAGR during the forecast years. This can be attributed to the higher demand for waterjet cutting machines in manufacturing and fabrication industries. This growth remains crucial for the progress of the global WJCM consumables market.
- Abrasives are anticipated to remain relatively popular with the use of waterjet cutting machine consumables due to their varied benefits over others.
- Numerous waterjet cutting machine manufacturers are focusing on the development of innovative consumables and software that are economical and adhere to the latest developments, and thus deliver high-speed performance with increased productivity.
- With a slowdown in manufacturing activities across the world due to the Covid-19 pandemic, the demand for waterjet cutting machines will see a dip in the near term, thereby impeding market growth to a certain extent.
“Improvements in productivity as well as introduction of innovative consumables and software that are economical, adhere to the latest developments, and deliver high speed performance and productivity are anticipated to remain crucial factors for the development of the WJCM consumables market over the years to come,” says a PMR analyst.
The waterjet cutting machine consumables market is fairly fragmented. Top tier players are expected to hold more than more than 40% share in the global waterjet cutting machine consumables market over the next decade. North America is anticipated to hold a dominant share throughout the forecast period. There is a positive outlook for all the top players in the global market to increase their total capacity, as the installed base for waterjet cutting machines is increasing.
Waterjet cutting machine consumables are preferred across various end-use industries, including metal fabrication, automotive, and electronics, in which metal fabrication holds the lion’s share. Along with this, there is growing demand for waterjet cutting machines to replace traditional cutting systems in APAC. Both these factors are providing momentum to the adoption of these machines in several end-use industries. As such, Asia Pacific is expected to emerge as a relatively attractive market in terms of growth by the end of the forecast period.
About the Report
The research report analyzes the total sales of waterjet cutting machine consumables on the basis of volume (000’ units) and value (US$ Mn). The global waterjet cutting machine consumables market has been bifurcated on the basis of product, end use, application, and region. The market is projected on the basis of factors such as construction industry growth, GDP growth, urbanization growth, global automotive production, etc. The scope of the research report includes new sales of waterjet cutting machine consumables to various end-use industries, including metal fabrication, automotive, ceramics, electronics, and others.
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About PMR – Industrial Automation
The Industrial Automation team at Persistence Market Research provides expert opinions and incisive inputs about a broad array of products used extensively in the manufacturing industry. The team has compiled comprehensive market research reports on gears, valves, bearings, special purpose machinery, and other key segments in this evolving landscape. In addition to offering syndicated market research studies, the team consults clients from all across the globe on their unique, strategic needs. Need help with your next project? Feel free to reach out.