The 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 2017 to 2028, expected to achieve USD 1.4 billion by 2028. Growing advancements and innovations within the waterjet cutting industry have led to the event of robotic waterjet cutters, which has contributed to improving the operational efficiency across various sectors. Moreover, the innovation of pumps from traditional intensifier designs to fast direct drive pumps including the improved nozzle designs to supply improved cutting rates are often attributed to the increased demand for waterjet cutting machines.
Furthermore, the intricate design of aerospace and defense components which require high precision and accuracy in terms of dimensions is often achieved through the machines, which has compelled the manufacturers to concentrate on product development. For example, in 2017, OMAX Corporation introduced its latest generation of Micromax series, a micro-abrasive waterjet technology which features a positioning accuracy of not up to five microns. Additionally, benefits like cold cutting method, no generation of hazardous waste, and a cleaner finished output has led to the adoption of the machines in various applications like the healthcare industry, semiconductor manufacturing industry, packaging industry, and mining industry.
Increasing demand to cut, drill, shape materials into precise sizes without producing wastes has been the key factor compelling the businesses to adopt the technology. The cutting process doesn't cause the creation of any hazardous waste and further facilitates the recycling of scrap materials. Thus, leading to environmental benefits and enabling the end-use industries to adopt the technology. Moreover, with the increasing stringency of environmental standards and waste production limitations, the waterjet cutting machines market is anticipated to witness robust growth over the forecast period.
The machine provides benefits like cost-effective operations, no metal distortion, and a cleaner finish as compared to the opposite cutting techniques like plasma, laser, stamping, and discharge machining (EDM). As a result, the machine is often used for cutting nearly any composite or material, thereby driving the market over the forecast period.
Key Factors Impacting the Growth of Waterjet Cutting Machine Market:
- The global waterjet cutting machine market was valued at USD 969.2 million in 2019 and is projected to witness a CAGR of 5.1% over the forecast period
- The growth of the abrasive type segment is often attributed to extending in demand for manufacturing precise automotive parts, aerospace components, electronic circuit boards, and cutting of thicker materials
- The Asia Pacific regional market accounted for the biggest revenue share in 2019 and is predicted to continue its dominate at a CAGR of 6.4% over the forecast period
- The key industry participants include Colfax Corporation; Omax Corporation; Flow International Corporation; Dardi International Corporation; and WARDJet, Inc. (AXYZ Automation Group).
The Waterjet Cutting Machine market segmentation is based on Type, Application, and Region.
Based on the 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 mix of water and abrasive to accelerate the cutting process. Pure waterjet is the cleanest type of waterjet cutting technology and it works by directing high-pressure water stream on a thin or soft material for an exact cut.
PWCM is typically used to cut softer materials, including gaskets, foam, paper, plastics, insulation, disposable diapers, cement board, food, and carpet. Pure waterjet may be a cold cutting process that eliminates the danger of a heat-affected zone within the material. The segment is predicted 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 predicted to continue its dominance over the forecast period. Growing demand for precise automotive performance parts and other cuts out materials like 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 like garnet with a high-pressure water stream that helps to accelerate the cutting process by eroding material like metals, composites, and stones with high speed and precision. Therefore, abrasive waterjets are usually wont to cut high strength material.
Based on application, the waterjet cutting machine market is segmented into automotive, electronics, aerospace and defense, mining, and metal fabrication, et al. High adoption of WCMs was observed within the automotive industry, attributable to the increasing demand for producing high precision complex automotive parts. Furthermore, robotic systems are implemented together with the WCMs within the production lines within the automotive industry to boost operational efficiency. The automotive application segment is predicted to grow with a CAGR of 4.8% from 2020 to 2027.
Demand for waterjet cutting machines within the aerospace and defense application is anticipated to register a better CAGR over the forecast period. The waterjet cutting machines are increasingly preferred to develop parts and components made from composite materials for aircraft like turbine blades and jet engines. Furthermore, the WCMs also are highly preferred within the development of critical defense and military products like guided missiles, space vehicles, and cutting solutions for the rotary blades, thick sheet metals, and aircraft fuselages. Furthermore, increasing investment and research and development within the aerospace and defense industry further aggregate demand for highly efficient machinery like the WCM across the world and thus the appliance segment is predicted to witness a CAGR of 5.4% over the forecast period.
Additionally, the recognition of waterjet cutting machines is additionally growing among other application areas like food, beverage, tobacco, and custom packaging solutions. Among these industrial applications, pure waterjet is employed mostly, due to its high efficiency in cutting soft materials. Moreover, the hygienic cutting process and its added advantage in sanitation increase its adoption and usage over other cutting technologies.
The Asia Pacific is anticipated to be the most important regional market and accounted for a major share of the general market in 2019. Improving economic conditions and rapid industrialization, especially in China, India, and South Korea are expected to enhance product demand within the region. Growing material handling, electronic component, metal and mining, and food, beverage, and tobacco industries within 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 within the region are the key driving factors for market growth. Furthermore, a surge in industrial automation, a rise in consumption of steel, and growth within the usage of indexed steel in construction are contributing to the regional market growth. For example, 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 a rise of 4.8% in 2017 from that of 2016. Moreover, North America accounted for a significant market share in 2019. U.S. is one of the main consumers of WCM due to the growing robotics, automation, and electronics industries within the country.
The global market comprises both globals also as regional players that are engaged within the design, manufacturing also as distribution of WCMs. Key players involved within 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 the Asia Pacific poses a considerable threat to the worldwide companies in terms of product quality and price offered to the purchasers. The market is projected to witness growth opportunities in emerging economies of Asia Pacific and Central and South America.
This report also includes the profiles of key Waterjet Cutting Machine market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.
Key Developments in Waterjet Cutting Machine Market:
- In 2017, OMAX Corporation introduced its latest generation of MicroMax series, a micro-abrasive waterjet technology which features a positioning accuracy of not up to five microns.
- 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 a rise of 4.8% in 2017 from that of 2016.
What Does This Report Provide?
This report provides a detailed understanding of the global Waterjet Cutting Machine market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
- Aerospace and Defense
- Metal Fabrication
- North America Waterjet Cutting Machine Market
- By Country (US, Canada, Mexico)
- By Type
- By Application
- Europe Waterjet Cutting Machine Market
- By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)
- By Type
- By Application
- Asia Pacific Waterjet Cutting Machine Market
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Type
- By Application
- Middle East & Africa Waterjet Cutting Machine Market
- By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
- By Type
- By Application
- South America Waterjet Cutting Machine Market
- By Country (Brazil, Argentina, Colombia, Rest of South America)
- By Type
- By Application
Reasons to Buy This Report:
- Market size estimation of the Waterjet Cutting Machine market on a regional and global basis
- Unique research Usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
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