The waterjet cutting machine market was valued at USD 970.7 million in 2022, and a CAGR of 4.1% is expected during the forecast period. Increasing demand for it in the mining and aerospace industries is driving the growth of the market significantly. When material that has already been cut is sensitive to higher temperatures, then this instrument is used.
Waterjet cutting is accomplished by hitting a very narrow beam of water at the workplace. The waterjet cutting machine market is steadily growing due to its versatility, precision, and applicability across various industries like aerospace, automotive, and manufacturing. Driven by advancements in technology, cost efficiency, and increased demand for precise cutting methods, this is significantly driving the growth of the market.
Impact of Covid-19
COVID-19 had a significant impact on the waterjet cutting market. Due to supply chain disruption, the automotive, aerospace, textile, and mining industries had to face disruption. In the early phase of COVID-19, due to halted manufacturing, supply chain challenges, and reduced demand from the affected industries, there was a slowdown in the market. Due to the need for contactless manufacturing, which increased the adoption of automated cutting technologies like waterjet cutting.
The shift towards remote work also
accelerated the demand for efficient and precise cutting methods. As the
priorities of people shifted towards essential things for survival, the
waterjet cutting machine market had to face a significant slowdown like other
industries, but later on, due to increasing demand from other industries, the
market faced growth. Waterjet cutting technology is gaining traction due to its
versatility in cutting a variety of materials, including flammables,
composites, glass, and metals. There are some hindrances, like high energy
consumption, sensitivity to environmental conditions, high maintenance costs,
and fabrication.
Growth Drivers
Increasing demand from the automotive, aerospace, and manufacturing industries is due to its precision, accuracy, versatility, and eco-friendliness. Advancements in technology, materials, and software also drive market expansion. The growing adoption of 5-axis machines and the rising trend towards automation contribute significantly to market growth.
Increasing demand for equipment in the electronics industry is also fostering growth in the market. These machines are also used in circuit board cutting. Increasing demand for equipment in generator components is also driving the growth of the market significantly. Advancement in technology is the key factor driving the growth of the market. The rise in adoption of advanced machinery is driving the growth of the market significantly.
The rise towards customized products and the rising inclination towards industrial automation are driving the growth in the market significantly. Research work is going on to develop more effective and affordable waterjet cutting machines, which in the near future will surely be available. With the increasing complexity of the cutting process, robotic waterjets are gaining popularity.
Robotic technology is there to enhance the
productivity of every cutting operation in real time. The expanding trend
towards industrial automation is driving growth significantly during the
forecast period. The demand for efficient products is increasing at this time.
Gaskets, rubber, foam, and plastic are among the materials that are easily cut
with the help of a waterjet cutting machine.
Segmentation
By Type
·
Abrasive Waterjet Cutting Machines
·
Non-Abrasive Waterjet Cutting Machines
By End-User Industry
·
Automotive
·
Aerospace
·
Electronics
·
Metal Fabrication
·
Others
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Europe
·
Middle East and Africa
Waterjet Cutting Machine Market Type
Segmentation
On the basis of type, the waterjet cutting machine market is segmented into abrasive waterjet cutting machines and non-abrasive waterjet cutting machines. Abrasive waterjet cutting machines are the leading segment and are expected to be the same during the forecast period. The growing need for precision in automotive performance parts is driving the growth of the market.
It combines abrasive particles like garnet with a high-pressure water ejection to increase the speed of the cutting process by eroding materials like composites, stones, and metals with precision and high speed. A pure waterjet cutting machine is usually applied to cut softer materials, including gaskets, foams, paper plastics, insulation, disposable diapers, cement board, food, and carpet. Pure waterjet is a cold cutting process that eliminates the risk of heat-affected zones in the material. The increasing demand for waterjet cutting machines in the automobile sector is driving the growth of the market significantly.
Waterjet Cutting Machine Market
End-User Segmentation
On the basis of end-user, the market is segmented into
automobiles, aerospace, electronics, and metal fabrication. Increasing growth
in the automobile sector is driving the growth of the market. Metal fabrication
is another segment that is expected to lead the market during the forecast
period. Increasing growth in the aerospace industry is expected to boost market
growth. Increasing demand for waterjet cutting machines in the medical industry
is also propelling market growth.
Regional Outlook
On the basis of the regions, the waterjet cutting machine market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is the leading segment and is expected to keep its dominance due to rapid industrialization and rising disposable income. The Asia-Pacific region, due to the presence of emerging economies like China and India, is expected to dominate significantly during the forecast period. Increasing industrialization in the Middle East is also a reason behind the growth in this region. Saudi Arabia, the United Arab Emirates, and South Africa are dominating the market in this region. Metal fabrication is among the leading segments in the world.
Growing consumer inclination towards waterjet cutting machines and the high growth of the automobile sector are driving the growth in the waterjet cutting machine market. The Asia-Pacific region is witnessing constant growth due to the presence of key players and big markets like China, Japan, South Korea, and India. Europe is also a big market due to rising industrialization and technological advancements in countries like Germany, Italy, France, Spain, and Russia. Brazil, Argentina, Mexico, and the rest of Latin America are also showing growth in the waterjet cutting machine market.
Key Players
·
Hypertherm INC
·
Colfax Corporation
·
Shape Technologies Group
·
Flow International Corporation
·
Resato International
·
Jetedge
·
Spaceclaim Corporation
·
Dardi International Corporation
·
Koike Aronson
·
Omax Corporation
· Other Players
