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Industry Insights, Market Size, CAGR, High-Level Analysis: Global Waterjet Cutting Machine MarketThe global waterjet cutting machine market size was valued at USD 969.2 million in 2019 and is estimated to exhibit a CAGR of 5.1% from 2020 to 2027. Increasing inclination towards adopting environment-friendly cutting processes and practices within industries such as automotive, mining, electronics, construction, packaging, and textile is one of the key factors attributing to market growth. Furthermore, an increase in process automation among the industries has led to the adoption of advanced machines over the forecast period. The waterjet cutting technology is gaining popularity among the industries owing to its versatility in cutting different materials such as metals, composites, glass, and flammable materials. The machine uses pure water or a mixture of water and abrasive material as a cutting media to cut up to 10-inch thick steel plates. For instance, Flow International Corporation offers Mach series waterjet cutting machines that can cut materials up to 24 inches thickness. Furthermore, the technology enables performing an extensive range of functions such as rapid drilling or cutting thin details or precision shapes in glass, stones, and metals. Advancement in technology and innovation in cutting machines is another factor that has influenced the adoption of waterjet cutting machines amongst industries. Developments, including micro and 3D waterjet cutting machines (WCMs), and robotic WCMs, are some of the significant innovations which help end-users increase their throughput and produce precise cutting operations. For instance, WARDJet, an Ohio based waterjet cutting manufacturer offers robotic waterjet cutting automation solutions to the industries such as aerospace, automotive, electronics, and textiles to produce weld test samples. The demand for WCMs is anticipated to witness a significant rise every year, with an increase in demand for upgraded equipment. The improvement in waterjet pressure levels beyond standard ultra-high pressure levels of 50,000 psi is gaining traction among the end-use industries. The WCMs involve cold cutting technology and high-pressure level jet that provides smooth edge and eliminates warping and distortion as compared to other laser or oxy-fuel or plasma cutting machines. U.S. is expected to be the largest market for waterjet cutting machines (WCMs) in the North America region. The pure waterjet cutting machine segment is expected to be the fastest-growing segment in the region over the forecast period. Waterjet cutting is expected to have a massive demand in numerous applications, including robotics, packaging, food, beverage, and tobacco, and packaging, that is anticipated to drive the regional market over the forecast period.
Type Insights of Global Waterjet Cutting Machine MarketBased on product, the waterjet cutting machines market is segmented into pure waterjet cutting machine (PWCM) and abrasive waterjet cutting machine (AWCM). PWCM uses only water as a cutting media, while AWCM uses a mixture of water and abrasive material to accelerate the cutting process. Pure waterjet is the cleanest form of waterjet cutting technology and it works by directing high-pressure water stream on a thin or soft material for a precise cut. PWCM is usually used to cut softer materials, including gaskets, foam, paper, plastics, insulation, disposable diapers, cement board, food, and carpet. Pure waterjet is a cold cutting process that eliminates the risk of a heat-affected zone in the material. The segment is expected to grow significantly over the forecast period, registering a CAGR of 5.6% from 2020 to 2027. Abrasive waterjet cutting machine (AWCM) dominated the market in 2019 and is expected to continue its dominance over the forecast period. Growing demand for precise automotive performance parts and other cut out materials such as brake types, wings, turbine, gears in aerospace and defense, electronics, mining, textiles, food, and beverage industries is attributing to segmental growth. Moreover, the AWCM uses abrasive particles such as garnet with a high-pressure water stream that helps to accelerate the cutting process by eroding material such as metals, composites, and stones with high speed and precision. Therefore, abrasive waterjets are usually used to cut high strength material.
Application Insights of Global Waterjet Cutting Machine MarketBased on application, the waterjet cutting machine market is segmented into automotive, electronics, aerospace and defense, mining, and metal fabrication, and others. High adoption of WCMs was observed in the automotive industry, owing to the increasing demand for producing high precision complex automotive parts. Furthermore, robotic systems are also implemented along with the WCMs in the production lines within the automotive industry to boost operational efficiency. The automotive application segment is expected to grow with a CAGR of 4.8% from 2020 to 2027. Demand for waterjet cutting machines in the aerospace and defense application is anticipated to register a higher CAGR over the forecast period. The waterjet cutting machines are increasingly preferred to develop parts and components made of composite materials for aircraft such as turbine blades and jet engines. Furthermore, the WCMs are also highly preferred in the development of critical defense and military products such as guided missiles, space vehicles, and cutting solutions for the rotary blades, thick sheet metals, and aircraft fuselages. Furthermore, increasing investment and research and development in the aerospace and defense industry further aggregate demand for highly efficient machinery such as the WCM across the globe and thus the application segment is expected to witness a CAGR of 5.4% over the forecast period. Additionally, the popularity of waterjet cutting machines is also growing among other application areas such as food, beverage, tobacco, and custom packaging solutions. Among these industrial applications, pure waterjet is used mostly, owing to its high efficiency in cutting soft materials. Moreover, the hygienic cutting process and its added advantage in sanitation increases its adoption and usage over other cutting technologies.
Regional Insights of Global Waterjet Cutting Machine MarketAsia Pacific is anticipated to be the largest regional market and accounted for more than 35% of the overall market in 2019. Improving economic conditions and rapid industrialization, especially in China, India, and South Korea are expected to augment product demand in the region. Growing material handling, electronic component, metal and mining, and food, beverage, and tobacco industries in the region are expected to boost the market over the forecast period. The Western European region has significantly contributed to the European WCM industry. Growing technological innovations and rising adoption of energy-efficient technologies in the region have been the key driving factors for market growth. Furthermore, surge in industrial automation, an increase in consumption of steel, and growth in the usage of indexed steel in construction are contributing to the regional market growth. For instance, as per the European Steel Association (EUROFER) AISBL statistics, the consumption of steel increased by 1.3% in 2017, and indexed steel consumption in construction recorded an increase of 4.8% in 2017 from that of 2016. Moreover, North America accounted for significant market share in 2019. U.S. is one of the major consumers of WCM owing to the growing robotics, automation, and electronics industries in the country.
Waterjet Cutting Machine Market Share InsightsThe global market comprises both global as well as regional players that are engaged in the design, manufacturing as well as distribution of WCMs. Key players involved in the manufacturing of WCM include Colfax Corporation; Dardi International Corporation; Omax Corporation; Flow International Corporation; Koike Aronson, Inc.; Hornet Cutting Systems; A Innovative International Ltd.; and WARDJet, Inc. (AXYZ Automation Group). Major players have invested extensively in research and development operations in recent years. The existence of local players in Asia Pacific poses a substantial threat to the global companies in terms of product quality and price offered to the customers. The market is projected to witness growth opportunities in emerging economies of Asia Pacific and Central and South America.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Waterjet Cutting Machine Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global waterjet cutting machine market report on the basis of type, application, and region:
Type Outlook (Revenue, USD Million, 2019 - 2030)
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Aerospace & Defense
- Metal Fabrication
Table of Content Chapter 1. Methodology and Scope 1.1. Market Segmentation and Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased database 1.3.2. GVR’s internal database 1.3.3. Secondary sources & third-party perspectives 1.3.4. Primary research 1.4. Information Analysis 1.5. Market Formulation & Data Visualization 1.6. Data Validation & PublishingChapte | read more...