The global Waterjet Cutting Machine Market is estimated to be valued at US$ 1,919.1 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Waterjet cutting machines use a fine, high-pressure stream of water or water mixed with an abrasive material to precisely cut or clean a variety of materials. The technology offers benefits such as minimal thermal stress on materials, reduced part distortion, versatile cutting of different shapes, and capability to cut both soft and hard materials. It is widely used for cutting parts and components in industries such as automotive, shipbuilding, aerospace, electronics, and stone cutting. The global Waterjet cutting machine market is driven by growing demand for cost-effective and precise cutting technologies in manufacturing industries.
Market key trends:
Growth Accelerated by Increasing Industrial Automation
The increasing adoption of industrial automation across sectors has accelerated the growth of the waterjet cutting machine market over the past decade. Automated waterjet cutting systems enhance productivity and precision by performing complex cutting patterns faster compared to manual operation. Advanced robotics integration allows waterjet cutting to be used for three-dimensional contour cutting of unusual shapes. Cutting underwater also expands the range of materials that can be processed. As manufacturing processes continue to become more automated, demand for automated waterjet cutting machines is expected to rise significantly during the forecast period.
Segment Analysis
The global waterjet cutting machine market is dominated by the abrasive waterjet segment which accounts for over 60% of the market share. Abrasive waterjet cutting can cut through a wide range of tough andbrittle materials like ceramics, granite, and glass. It uses a mixture of water and abrasive material like garnet for cutting. Its ability to cut intricate shapes without any significant heat application has made it an ideal choice for precision cutting applications in industries like electronics, aerospace & defense.
Key Takeaways
The global waterjet cutting machine market is expected to witness high growth over the forecast period of 2023 to 2030.
North America accounts for the largest share in the global waterjet cutting machine market with over 35% share. The growth can be attributed to strong presence of key players and growing demand from end-use industries like aerospace, automotive and electronics in countries like US and Canada.
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.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it