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 fine high-pressure jet of water, often combined with an abrasive substance, to cut through various materials. This non-thermal process minimizes heat distortion and heat-affected zones compared to plasma cutting. The machines enable intricate cuts with high precision and accuracy in a wide range of materials including metal, composites, ceramics, stone, glass, plastics and food products.
Market key trends:
One of the key trends fueling the growth of the waterjet cutting machines market is the increasing adoption of automated waterjet cutting machines in various industries. Automated waterjet cutting machines enhance precision and accuracy of cuts through advanced computer numerical control (CNC) technologies. They also help reduce labor costs and improve productivity by enabling lights-out and around-the-clock operations. The development of advanced control software for automated machines also helps speed up the cutting process while maximizing material utilization through optimized nesting of parts, thereby further supporting the market growth.
SWOT Analysis
Strength: Waterjet technology causes minimal thermal distortion and can cut intricate shapes with very tight tolerances in any material.
Weakness: High operating costs due to water wastage and requirement of trained professionals.
Opportunity: Growth in end-use industries and demand for specialized fabrication. Scope for automation to improve efficiency.
Threats: Availability of alternative laser and plasma cutting technologies. Fluctuations in raw material prices.
Key Takeaways
The Global Waterjet Cutting Machine Market Size is projected to grow from US$ 2280.08 Mn in 2023 to US$ 3456.12 Mn by 2030, exhibiting a CAGR of 9% during the forecast period. Asia Pacific dominates the market currently, driven by growing manufacturing activities in China, India, and other developing countries.
The regional analysis indicates that Asia Pacific will continue to hold the largest share in the market during the forecast period owing to expansion of various end-use industries in the region. China dominates the Asia Pacific market due to presence of major OEMs and availability of skilled labor at low cost.
Some of the prominent 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:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
