The global Waterjet Cutting Machine Market is estimated to be valued at US$ 2280.08 Mn in 2023 and is expected to exhibit a CAGR of 9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Waterjet cutting machines use a very high-pressure jet of water, or a mixtures of water and an abrasive substance, to cut through materials. They are capable of cutting intricate shapes with extreme precision and minimal heat impact on delicate materials like stone, tile, composites and metal. The ability to cut intricate shapes and delicate materials without thermal stress or damage has increased their adoption across various end-use industries.
Market key trends:
One of the key trends driving the growth of waterjet cutting machines is their increasing applications in exotic and durable materials processing. Earlier waterjet machines were limited to softer materials like paper, textiles and food items. However, continuous technological advancements have improved pump pressure and abrasive mixtures capabilities of waterjet machines. This has enabled industries to rely on waterjet machines for processing hard and durable materials such as ceramics, composites and tough metal alloys which were traditionally cut using lasers. The development of advanced nozzle technologies has further enhanced precision and versatility of waterjet machines for complex cuts on exotic materials. Their non-contact precision cutting with minimal heat impact continues to drive replacement of traditional cutting methods and fuel growth of waterjet cutting machine market.
Segment Analysis
The global waterjet cutting machine market has been segmented based on type, application, and region. Based on type, it is divided into pure waterjet cutting machines and abrasive waterjet cutting machines. Abrasive waterjet cutting machines dominate the market as they can cut through any type of material, including hard materials like composites and steel. They utilize an abrasive substance mixed with high-pressure water to pierce through materials. Based on application, it is segmented into automotive, aerospace & defense, stone & tiles, job shops, and others. The automotive segment accounts for the largest share as waterjet cutting finds high usage in cutting various automobile parts and components.
Key Takeaways
The Global Waterjet Cutting Machine Market Size is expected to witness high growth, exhibiting a CAGR of 9% over the forecast period, due to increasing demand from the automotive and aerospace industries.
Regional analysis - North America dominates the global market and is expected to maintain its position over the forecast years. This is attributed to major automotive players in the US driving the usage of waterjet cutting machines. Asia Pacific is expected to showcase the fastest growth rate owing to the expansion of the automotive industry in developing countries such as India and China.
Key players - Key players operating in the waterjet cutting machine market are WARDJet, STM Stein-Moser GmbH, International Waterjet Machines, Sugino Machine Limited, OMAX Corporation, Jet Edge, Inc., Caretta Technology s.r.l., DARDI International Corporation, TrennTek GmbH, PTV, spol. s.r.o., Semyx, LLC, Foshan Yongshengda Machinery Co., Ltd., Plasma Automation Inc. (VICON), KMT Waterjet, Hypertherm Inc. (Accustream), AKS Cutting Systems, A Innovative International Ltd., Metronics Technologies S.L., Hornet Cutting Systems, Water Jet Sweden, Koike Aronson, Inc., CMS Industries, and TECHNI Waterjet. These players are focusing on new product launches and strategic partnerships to gain a competitive edge in the market.
Read More: https://www.ukwebwire.com/waterjet-cutting-machine-market-size-share-and-growth-forecast-2023-2023/
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