The global waterjet cutting machine market size was valued at USD 1.13 billion in 2022 and is projected to reach USD 1.93 billion by 2031, expanding at a CAGR of 6.1% between 2023 and 2031. The growth of the market is attributed to the increasing preference towards accepting environment-friendly practices and cutting processes in industries such as packaging, textile, electronics, construction, automotive, and mining.
Waterjet cutting machine is widely deployed as a process of engineering for cutting the highly sensitive objects and particles by using energy from water with ultra-high pressure, high speed, and high density. The water is pressurized to a maximum 392 Megapascal pressure and projected from 0.1 mm small-bore nozzle.
Water is pressurized by an ultrahigh-pressure pump that can reach with the speed of approximately three times more than speed of sound, producing a water jet with great force for cutting. Once water jet reached to the object, it separates the material particles near the surface and causes cutting without heat generation. Abrasive is added in water jet according to the material of cutting.
The COVID-19 pandemic outbreak had hampered the market due to the implementation of lockdown by government bodies. The pandemic has affected the market due to disruption of supply chain, temporary shutdown of manufacturing plant, economic slowdown, and low purchase power of industry verticals. The market is expected to recover soon due to sharp decline in the virus cases, as a result, various government bodies started lifting up lockdown to certain extent so industries are resuming their work.
Waterjet Cutting Machine Market Trends, Drivers, Restraints, and Opportunities
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Increasing process automation among the industries has led to the implementation of advanced machines. This is a key factor driving the market growth.
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Rising use of machine due to its flexibility in cutting any material with minimal setup is projected to drive the market expansion during the forecast period.
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Escalating cost of maintaining and installing waterjet machine acts as a major challenge that can restrict the market growth in the coming years.
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Increasing power consumption by machine boost the operational cost of company. The availability of this alternative is a key restraining factor that can hamper the market growth during the projected timeline.
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Using multi-axis waterjet cutting and 3D cutting process in waterjet cutting machine is projected to create significant growth opportunities for the market.
Scope of the Waterjet Cutting Machine Market Report
The report on the global waterjet cutting machine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Waterjet Cutting Machine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Metal Fabrication, Electronics, Mining, Automotive, Aerospace & Defense, and Others) and Types (Abrasive and Pure)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Dardi International Corp.; Flow International Corp.; Hornet Cutting Systems; Koike Aronson, Inc.; WARDJet, Inc. (AXYZ Automation Group); Colfax Corp.; and Omax Corp.
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Waterjet Cutting Machine Market Segment Insights
Automotive segment is expected to grow at a rapid pace
Based on applications, the global waterjet cutting machine market is divided into metal fabrication, electronics, mining, automotive, aerospace & defense, and others. The automotive segment is expected to grow at a rapid pace during the forecast period attributed to rising demand for producing highly complex automotive parts with precise cut.
Furthermore, along with waterjet cutting machine, several robotic systems are implemented in the automotive industry to boost the production efficiency, which is projected to accelerate the segment growth further.
However, the aerospace & defense segment is anticipated to expand at a substantial CAGR in the coming years due to use of machine for development of components and parts such as jet engines and turbine blades of aircrafts made of composite materials.
Ability to cut high strength material drive the abrasive segment
In terms of types, the market is bifurcated into abrasive and pure. The abrasive segment is expected to account for a major market share during the projected timeline owing to its ability to cut high strength material. Moreover abrasive particles accelerates the speed and precision of cutting process of material such as composites and metal, which presents a major factor driving the segment.
On the other hand, the pure segment is projected to expand a considerable CAGR during the forecast period due to its use in various industries associated with the cutting of soft materials such as paper, insulation, cement board, and others. Additionally, pure waterjet cutting machine uses only water that eliminates the risk of heat affected zone in the material, which acts as a major driver of the segment.
Asia Pacific is anticipated to constitute a key market share
In terms of region, the global waterjet cutting machine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to improving economic condition and rapid industrialization in major economies of the region.
However, the Europe market is anticipated to grow at a rapid pace during the forecast period due to the rise in consumption of steel, industrial automation, and increase in the usage of indexed steel in construction in the region.
Segments
The global waterjet cutting machine market has been segmented on the basis of
Applications
- Metal Fabrication
- Electronics
- Mining
- Automotive
- Aerospace & Defense
- Others
Types
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global waterjet cutting machine market are Dardi International Corp.; Flow International Corp.; Hornet Cutting Systems; Koike Aronson, Inc.; WARDJet, Inc. (AXYZ Automation Group); Colfax Corp.; and Omax Corp.
Companies are focusing on investment in R&D for new product development and update existing product portfolio for production of technological advanced waterjet cutting machines. Furthermore, companies are widely engaging in distribution, manufacturing, and design of waterjet cutting machines. For instances, in April 2020, Water Jet Sweden announced a next generation of “Alphajet”, a taper angle controller for enhancing cutting process with high accuracy.
