A waterjet is a cutting instrument that uses high-pressure water and abrasives to cut diverse set of materials including foam, wood, titanium, granite, etc. Waterjet is can be used with or without an abrasive mixture. The abrasive waterjet is typically used for high-strength materials such as titanium, granite, and more. On the basis of pump type, the global waterjet cutting machine is segmented into a direct drive pump and an intensifier pump. On the basis of application, it is segmented into one, two, and three-dimensional cutting applications. On the basis of pressure range, it is divided into up to 4200 bar and more than 4200 bar. Furthermore, on basis of the end-use industry, the market is divided into Metal Fabrication, Automotive, Ceramics, Electronics, paper, and others.
The global waterjet cutting machine market is estimated to account for US$ 1919.1 Mn in terms of value by the end of 2021 and is expected to grow at a CAGR of 9.0% during the forecasted period (2022-2030).
Market Trend
Extensive application for a variety of materials is expected to drive the Waterjet Cutting Machine Market growth during the forecast period.
Waterjet cutting machine can be used for a variety of materials including aluminum, granite, gasket, foam, steel, and titanium. For instance, abrasive waterjets are used for exotic metals such as titanium & Inconel, stones, and composites. On the contrary, pure waterjets are used for thick insulation and cement boards. Moreover, highly engineered composites such as reinforced plastic and carbon fiber are challenging for saw and mills that are operated with waterjet cutting machine.
Waterjet Cutting Machine Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 1,919.1 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 9.0 % | 2030 Value Projection: | US$ 4,049.6 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
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 |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Opportunity
High demand for mechanized cutting from industrial sector in emerging economies is expected to offer lucrative opportunities
Mechanized or automated waterjet cutters have witnessed significant demand in the recent past, particularly from the industrial sector. This is due to the higher accuracy offered by mechanized waterjet cutters. A mechanized waterjet cutting machine does not require an operator to perform the entire process. Moreover, it minimizes the wastage of material, offers higher precision, and saves time. Various industries such as fabrication and the automobile sector require precision cutting, drilling, and shaping where a mechanized cutting machine is widely adopted. Such high demand from the industrial sector is expected to pose excellent growth opportunities for market players in the near future.
Market Restraint:
Lack of Skilled Individuals is Expected to Restrain the Global Waterjet Cutting Machine Market Growth over the Forecast Period.
Operating waterjet cutting machine requires thorough professional training. Such technically skilled individuals are not available in emerging economies, which in turn, is expected to restrain the global waterjet cutting machine market growth over the forecast period.
Global Waterjet Cutting Machine Market - Impact of Coronavirus (Covid-19) Pandemic:
Owing to the outbreak of COVID-19 pandemic, majority of industries revenue got hampered as government has imposed lockdown worldwide. The revenue drop has remain for long period of time as manufacturing or production activities of these industries was temporary suspended by government.
The pandemic also shown downtrend in the waterjet cutting machines market and disturbance in its supply chain. However, as per CMI analysis, the waterjet cutting machines market is expected to recover in 2 to 3 years.
Competitive Scenario
Key companies operating in the global 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.
Recent Developments:
Forecasted North America is expected to hold a dominant position in the waterjet cutting machine market in 2021
Statistics:
North America will held a dominant position in the waterjet cutting machine market in overall forecast period, accounting for 38% revenue share in terms of market share, followed by Europe and Asia pacific.
Figure 1: Waterjet cutting machine Market Share (%), By Region, 2021
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Asia Pacific waterjet cutting machine market is expected to witness a CAGR of 11% over the forecast period.
Asia Pacific waterjet cutting machine market is expected to be one of the prominent region in the global market and witness high growth during the forecast period. This is owing increasing demand for waterjet cutting machine in emerging economies such as South Korea, India, and China. Moreover, rapid industrialization, high disposable income, and high growth of electronics, automotive, and medical industries. It is expected to boost the regional market growth.
Figure 2: Global Waterjet Cutting Machine Market (US$ Mn) Analysis and Forecast, 2017 – 2030
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The waterjet cutting machine market was valued at US$ 2,027.5 Mn in 2022 and is expected to reach US$ 4,049.6 Mn by 2030, growing at a CAGR of 9.0% between 2022 and 2030.
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