- High precision of cutting and lower cost of raw materials is driving market growth.
- The automotive segment is anticipated to have leading market shares.
- North America is anticipated to witness leading market shares during the forecast period.
The global waterjet cutting machine market is segmented by technology, industry, machine size, pressure range and application. By technology, the market is segmented into pure waterjet cutting technology and abrasive waterjet cutting technology. In terms of industry, the market is segmented into automotive, defense & aerospace, metal fabrication, electronics, textiles and others.
By machine size, the market is segmented into small, medium and large machine. Based on pressure range, the market is sub segmented into up to 4,200 Bar, more than 4,200 Bar. Based on application, the market is sub segmented into exotic metal and non-traditional material cutting, ceramic/stone cutting, glass/metal art, gasket cutting, fiberglass cutting and foam product cutting.
The global waterjet cutting machine market is anticipated to record a CAGR of 9.2% over the forecast period i.e. 2019-2027 owing to high precision of cutting and lower cost of raw materials. Additionally, no heat generation and environment friendly nature of technology makes it a favored method of cutting in case of rubber, textiles, leather, plastics and combustible products. The automotive segment is anticipated to have leading market shares with other segments expected to show significant growth during the forecast period owing to increasing need of quality cutting in automotive industry to deliver quality products that can abide to the stringent rules regarding automotive manufacturing.
North America is anticipated to witness leading market shares during the forecast period owing to presence of large end use industries and key market players. Additionally, the expanding manufacturing sector is expected to augment the product demand in the region. Europe is anticipated to witness significant growth on the back of ongoing different research and development activities in order to provide efficient machines with low maintenance cost. Asia-Pacific is expected to have noteworthy growth in terms of revenue owing to industrial expansion and growing manufacturing sector.
Recent technological advancement in the production of waterjet cutting machines for instance, developments of robotic waterjet cutting machine and micro waterjet cutting machine coupled with capability to cater both soft and hard material-based industries are expected to drive the market growth. However, on the other hand, elevated cost required to mount and to maintain the machine may likely to hinder the market growth in the coming few years.
This report also provides the existing competitive scenario of some of the key players of the global waterjet cutting machine market which includes company profiling:
- ESAB Group,
- MD Corporation,
- DARDI International Corporation,
- Waterjet Corporation s.r.l,
- Flow International Corporation,
- Water Jet Sweden AB,
- Innovative International Ltd,
- Uhde High Pressure Technologies GmbH,
- KMT Waterjet Systems, Inc.,
- BFT GmbH,
- TECHNI Waterjet,
- Jet Edge, Inc. and other prominent players.