Increasing demand for high-precision and improved cutting speed from the metal fabrication industry has driven the adoption of waterjet cutting technologies, subsequently generating the requirement for waterjet cutting machine consumables. Substantial rise in industrial production is anticipated to further create favorable growth opportunities for waterjet cutting machine consumables in the global market.
According to PMR’s recent market study, the waterjet cutting machine consumables market is projected to progress at a CAGR of 6%, and reach a valuation of more than US$ 3.4 Bn by the end of the forecast period (2019-2029).
Key Takeaways of Waterjet Cutting Machine Consumables Market Study
- North America is estimated to be a prominent region in the global waterjet cutting machine consumables market, as the region holds a large share in the consumption as well as production of these products. It is estimated that about 30-35% of the global supply is dominated by North America as of 2018.
- Metal fabrication, followed by automotive, is expected to emerge as an opportunistic end-use industry, owing to the high need for accuracy in cutting applications and for increasing productivity. The ongoing trend of manufacturing complicated and complex parts with precise CNC programming is anticipated to propel the growth of the waterjet cutting machine consumables market.
- A projectile shift from traditional cutting to waterjet cutting in developing regions is expected to accelerate the growth of the waterjet cutting machine consumables market. Many metal fabrication companies are adopting waterjet cutting machines, owing to their salient features such as high accuracy and low tolerance of +/- 0.003, absence of heat-affected zone (HAZ), and ability to cut material without creating any distortions.
“With rising awareness regarding the advantages of waterjet cutting among end-use industries, their demand is estimated to witness double-digit growth over the assessment period. However, intensifying competition in the market will lead to price competitiveness,” says a PMR analyst.
Waterjet Cutting Machine Consumables Market: Competitive Landscape
The global waterjet cutting machine consumables market is consolidated in nature, with tier-1 manufacturers accounting for around half of the share of the global market. Some of the key manufacturers included in the report are Kennametal Inc., Flow International Corporation, Hypertherm Inc., and GMA Garnet Pty. Ltd. Manufacturers are striving to gain additional share in the waterjet cutting machine consumables market by means of strategic expansion, acquisition, and product innovation. Manufacturers are also focused on pursuing additional sales channels and partners for distribution to meet customer demand and requirement across the globe.
Waterjet Cutting Machine Consumables Market: Conclusion
The growth of the metal fabrication and automotive industries is estimated to be a prominent factor for the positive progress of the waterjet cutting machines consumables market. Asia Pacific, being a rich region for garnets, especially India, China, and Australia, holds potential opportunities in the waterjet cutting machine consumables market. The region is responsible for major export of abrasives to the remaining part of the world, and thus, will drive the global market during the forecast period.
Find More Valuable Insights on Waterjet Cutting Machine Consumables Market
PMR, in its new research report, offers an unbiased analysis of the global waterjet cutting machine consumables market, presenting historical demand data of 2014-2018 and forecast statistics for the period of 2019-2029. The report reveals insights on the waterjet cutting machine consumables market, and covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the waterjet cutting machine consumables market value chain. Readers can also find key trends and market growth scenarios based on product, end use, application, and regions such as North America, Latin America, Europe, Asia Pacific, and MEA.
For additional insights on how the waterjet cutting machine consumables market will shape up over the next decade, write to firstname.lastname@example.org
About PMR – Industrial Automation
The Industrial Automation team at Persistence Market Research covers 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 has helped clients from all across the globe with their unique strategic needs. Need help with your next project? Feel free to reach out.