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Waterjet Cutting Machinery Market to Perceive Substantial Growth During 2024
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According to the report published by leading market intelligence agency Transparency Market Research, the global waterjet cutting machinery market is expected to experience a very low rate of increase in the influx of new entrants, primarily due to the high costs associated with the installation and maintenance of waterjet cutting machinery. At the same time, buyers are also often reluctant to switch between players due to high switching costs. The global waterjet cutting machinery market is expected to reach US$1.66 bn by the end of 2016. The market’s revenue is estimated to expand at a CAGR of 8.1% during the forecast period from 2016 to 2024, and is likely to reach US$3.11 bn by the end of 2024.
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Growing Number of Manufacturing Processes Builds Momentum for Incorporation of Waterjet Cutting Machinery
“Waterjet cutters are highly precise machines and can get the job done in much shorter times than conventional cutting machinery. At the same time, they are much more environmental friendly in terms of emissions and power consumption and do not leave an output of heat, dust, or smoke. Water being the key raw material used for cutting, makes waterjet cutters extremely economical in terms of procurement of raw materials as well, a highly positive fact for several manufacturing companies.
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All of this falls perfectly in place with the currently booming rate of activities within the global manufacturing industry verticals. With China, the U.S., India, and several other nations poised to significantly ramp up their industrial processes, there is a very positive role that the global waterjet cutting machinery market can play in all of this,” states a TMR analyst.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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