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Waterjet Cutting Machine Market Trends, Top Companies, Share, Growth And Forecast 2033
Waterjet Cutting Machine Market Trends
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According to The Business Research Company's, The waterjet cutting machine market size has grown rapidly in recent years. It will grow from $1.3 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to rise in automotive industry, demand for customized products, high demand from the industrial sector, demand for precise and intricate cutting in various industries, increased investments in building high-class manufacturing infrastructure.
The waterjet cutting machine market size is expected to see rapid growth in the next few years. It will grow to $2.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to extensive application for a variety of materials, introduction of robotic cutting, rising government concerns for adopting pure waterjet technology, increased adoption in emerging markets, aerospace and defense growth. Major trends in the forecast period include new software intelligence, industry 4.0 integration, 3d waterjet cutting, micro waterjet cutting, green cutting technologies.
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Market Drivers and Trends:
Increasing demand for environment-friendly cutting processes and practices is significantly contributing to the growth of the waterjet cutting machine market. The stringent government policies towards the usage of chemical fluids in the manufacturing process and increasing companies toward sustainable business practices had led to a shift in industries' interests towards adopting environmentally friendly cutting methods and practices in sectors such as automotive, mining, electronics, and construction, packaging, and textile. For instance, in 2022, the European Commission adopted a proposal for a regulation that would harmonize conditions for marketing construction products. This proposed regulation was part of a package of proposals that was aimed at making sustainable products the norm in the EU, boosting circular business models, and empowering consumers for the green transition.
The use of cutting fluids in machining processes hurts the environment. As a result, most environmental machining research and development has centered on eliminating or minimizing the use of traditional cutting fluids or replacing them with environmentally friendly alternatives. Therefore because of numerous advantages, the demand for environment-friendly cutting processes and practices is expected to propel the growth of the waterjet cutting machine market over the coming years.
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Major Key Players of the Market:
Flow International Corporation, Bystronic Inc., Water Jet Sweden AB, Waterjet Corporation S.R.L., Dardi International Corporation, Wardjet, Koike Aronson Inc., Techni Waterjet, Huffman, Jekran Ltd., Lincoln Electric, STM waterjet, International Waterjet Machines, Foshan Yongshengda Machinery, Accurl, LDSA, Resato International, KMT Waterjet Systems Inc., Jet Edge Inc., ESAB, Hypertherm Inc., AccuStream, WSI Waterjet Systems International, A Innovative International Ltd., A&V Waterjet, Advanced Cutting Systems, Aqua-Dyne Inc., Calypso Waterjet Systems, CMS Industries, CTR Lasers, Flow Asia Corporation
Waterjet Cutting Machine Market 2024 Key Insights:
• The waterjet cutting machine market size is expected to see rapid growth in the next few years. It will grow to $2.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• Environmental Concerns Drive Growth In The Waterjet Cutting Machine Market
• Environmental Concerns Fuel Demand For Environmentally Friendly Waterjet Cutting Machines
• North America was the largest region in the waterjet cutting machine market share in 2023
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