The waterjet cutting machine market is projected to grow from USD 1.1 billion in 2021 to USD 1.5 billion by 2026; it is expected to grow at a CAGR of 6.2% from 2021 to 2026.
The growth of the waterjet cutting machine market is driven by high operational excellence, rise in adoption of waterjet cutting machines across industries, and growth of the automotive industry. Moreover, increasing demand from emerging economies in APAC is likely to fuel the growth of the market.
The abrasive segment is projected to account for the largest share of the waterjet cutting machine market during the forecast period.
The abrasive waterjet cutting machines use abrasive materials in the high-pressure waterjet to cut the materials.These machines are used for cutting applications such as glass, metal, stone, and tile cutting.
They are used in industries such as aerospace & defense, automotive, and metal fabrication.
The market for 3D waterjet cutting machine is expected to grow at the highest CAGR during the forecast period
The 3D waterjet cutting machines are suitable for all manufacturing processes involving 3D cutting.The highly productive, precise waterjet cutting of 3D components has now become possible with such machines.
The waterjet cutting systems are widely used in the aerospace and automotive industries, as well as in prototype development applications of various industries.
The automotive industry in waterjet cutting machine is expected to grow at the highest CAGR during the forecast period.
Waterjet cutting machines are used for the interior and exterior cutting of headliners, carpets, liners, dumpers, door and instrument panels, seats, composite parts, and castings of vehicles. The use of waterjet cutting machines improves the flexibility of cutting equipment and enables ease with automation for the automotive industry, which drives the growth of the waterjet cutting machine market for this industry.
North America held the largest share of the global waterjet cutting machine market during the forecast period.
The region has witnessed rapid growth in industries such as automotive, electronics, food, and aerospace.The growth in this market can be attributed to the large industrial base and high production capacity of companies in the country.
The US is one of the largest automotive markets in the world and is home to several auto manufacturers, which is driving demand for waterjet cutting machines used for cutting headliners, door panels, carpets, liners, dumpers, composite parts, and castings. Additionally, industries such as aerospace & defense, and food provide good opportunities for waterjet cutting machines as they are used for cutting various materials.
Break-up of the profiles of primary participants:
• By Company Type – Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
• By Designation – C-level – 40%, Director-level – 35%, and Manager-level – 25%
• By Region – North America - 35%, Europe – 30%, APAC – 25%, and RoW – 10%
The key players in the waterjet cutting machine market include Colfax (US), Omax (US), Flow (US), Koike Aronson (US), Wardjet (US), Lincoln Electric (US), Techni Waterjet (Australia), Dardi (China), KMT (US), Waterjet Sweden (Sweden), Innovative (India).
The waterjet cutting machine market has been segmented into the offering, waterjet, product type, industry, and region.
Based on offerings, the market has been segmented into hardware, software, and services.Based on the waterjet, the waterjet cutting machine market has been segmented into abrasive and non-abrasive.
Based on product type, the waterjet cutting machine market has been segmented into micro, 3D, and robotic waterjet cutting machine.Based on industry, the waterjet cutting machine market has been segmented into electronics, automotive, food, aerospace, metal fabrication, construction, and others.
The waterjet cutting machine market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
Reasons to buy the report:
• Illustrative segmentation, analysis, and forecast of the market based on offering, waterjet, product type, industry, and region have been conducted to give an overall view of the waterjet cutting machine market.
• A value chain analysis has been performed to provide in-depth insights into the waterjet cutting machine market.
• The key drivers, restraints, opportunities, and challenges pertaining to the waterjet cutting machine market have been detailed in this report.
• Detailed information regarding the COVID-19 impact on the waterjet cutting machine market has been provided in the report.
• The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues