Waterjet Cutting Machine Market Size ,Share Growth, Industry & Forecast 2024-2031

Market Overview :

A waterjet cutting machine is equipment used to cut different types of materials such as paper, textile, metal, stone & granite among others using high-pressure water cutting or a mixture of abrasive and water. In the current scenario, advancement in technology and innovation in cutting machines is the major driving factor that has influenced the adoption of waterjet cutting machines amongst industries.

The primary factors boosting the waterjet cutting machine market growth are, comprise of high operational excellence, an increase in adoption of waterjet cutting machines among all industries, and the development of the automotive industry. Furthermore, an increase in demand for waterjet cutting machines in the Asia Pacific region is produced to generate growth challenges for the waterjet cutting machine market.

Market Trends :

Steel is one of the most important and widely consumed raw materials in industries such as energy, construction, automotive, transportation, infrastructure, packaging, and machinery. The steel industry is showing steady growth through its sustainable performance for the last couple of decades. In the current scenario, the infrastructure development activities by various developing countries' governments are the major driving factors that are expected to boost the demand for steel fabrication over the next few years.

Additionally, Government initiatives, such as the construction of metro stations, new no-frill airports, international terminals, industry corridors, power plants, and ports, require heavy steel structures. Thus, these factors are expected to drive the growth of the waterjet cutting machine in the steel fabrication sector across the world.

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Market Segmentation :

The automotive industry is one of the largest demand generators owing to the continuously evolving designs and material combinations in automobile manufacturing. The advancements in technologies and ease of operations have added to the generation of sustainable demand for this equipment across various industries. Mechanical applications manufacturing is another major industry vertical, with extensive usage. Metal cutting machines have the highest utility in the mechanical equipment segment followed by welding equipment.

Demand for waterjet cutting machines is expected to register a higher CAGR over the forecast period in the aerospace and defense market. For aircraft such as turbine blades and jet engines, waterjet cutting machines are increasingly preferred to produce parts and components made of composite materials. Growing innovation and research and development in the aerospace and defense industries further aggregate demand for highly efficient machinery such as the WCM worldwide and thus the application segment is projected to experience the highest CAGR over the forecast period.

Geographical Share :

By region, the waterjet cutting machine market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Asia-Pacific is anticipated to be the largest regional market share in 2019. Improving economic conditions and rapid industrialization, especially in China, India, and South Korea are expected to augment machine demand in the region.

Moreover, the growth of the market in Asia-Pacific is driven by the expansion of the metal fabrication and electronics, and automotive industries, coupled with the growing machine manufacturing sector in India and China, among others. The growing demand for products and services across various sectors in India, combined with the fact that global manufacturing companies are concentrating on diversifying their production by setting up low-cost plants in countries such as China and India, is expected to drive the Indian manufacturing industry.

Besides, the Indian manufacturing sector is projected to rise to USD 1 trillion by 2025 more than six times the current size. For example, since 2014 the number of mobile manufacturing plants set up in India has increased more than 60-times. It indicates the growing demand in the market is examined, owing to the country's rising number of production units.

The Singapore-based electronics manufacturing and business services provider Flex opened a new production facility in Chennai in July 2019, bringing the total number of the company's manufacturing facilities to four in India. This shows the increasing demand for structural steel fabrication, which is due to the increasing number of manufacturing units in the country. This, in turn, the growth in the demand for waterjet cutting machines across India in the upcoming years.

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Competitive Landscape

Key players operating in the market are Colfax Corporation, Lincoln Electric Holdings Inc., Flow International, Koike Aronson, Inc., and Omax Corporation, among others.

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