USD 1.12 Billion
Global Waterjet Cutting Machine Market Size, Share, Growth Analysis, By Type(Pure and Abrasive), By Product(3D, Robotic), By Pressure Range(Less Than 4200 Bar, and 4200 Bar & Above), By End User(Automotive, Electronics) - Industry Forecast 2024-2031
Report ID:
SQMIG20I2283 |
Region:
Global |
Published Date: May, 2024
Pages:
202
|
Tables:
117 |
Figures:
73
Global Waterjet Cutting Machine Market Insights
Global Waterjet Cutting Machine Market size was valued at USD 1.12 Billion in 2022 and is poised to grow from USD 1.82 Billion in 2023 to USD 2.9 Billion by 2031, at a CAGR of 6.0% during the forecast period (2024-2031).
The waterjet cutting machines offer advantages in cutting various heat-sensitive materials, which are essential in industries like automotive manufacturing. The increasing automobile industry, driven by strong government initiatives to boost small-scale industries, is expected to lead to higher demand for water jet machinery. One significant contributor is the shifting preference towards adopting eco-friendly cutting processes in industries. This change is spurred by a growing awareness of environmental sustainability practices.
Additionally, the increasing trend of process automation across various industries is driving the adoption of advanced machinery over the forecast period. The demand for water jet machinery in the industrial sector of emerging economies is expected to further fuel market growth over the forecast period. The demand for waterjet cutting machines is expected to experience substantial growth annually, aligning with the rising demand for upgraded equipment in various sectors. These trends are expected to positively impact the growth of the global waterjet cutting machine market. The introduction of robotic waterjet cutting machines and automation within manufacturing has had a significant impact on driving market growth. Notably, the Asia-Pacific (APAC) region has emerged as a substantial market for waterjet cutting devices, reflecting the region's growing industrial activity. To further enhance the utility of waterjet cutting machines, advanced technologies like 3D cutting and multi-axis waterjet cutting are being developed. These innovations aim to simplify the cutting process and expand the adoption of waterjet technology across different sectors. In summary, the increasing demand for efficient and versatile cutting solutions, fueled by industrialization and technological advancements, is propelling the growth of the waterjet cutting machine market, particularly in the APAC region.
However, despite these favorable factors, there are challenges that could impede the overall market growth. One such challenge is the high total cost of ownership associated with waterjet cutting machines, which may deter potential buyers. Furthermore, the development of cost-effective technologies and the shortage of skilled labor are additional constraints that may hinder the overall growth of the global waterjet cutting machine market.
Despite these challenges, there are also opportunities for growth within the market. The increasing demand for mechanized cutting in the industrial sector of developing economies presents a promising growth opportunity. Additionally, the growing demand for waterjet cutting machines in the wind energy industry, as well as the untapped potential in emerging markets, offer favorable prospects for market expansion. By addressing these challenges and capitalizing on growth opportunities, the global waterjet cutting machine market can continue to thrive in the foreseeable future.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Abrasive
Fastest Growth
Pure
Growth Rate
6.0% CAGR
Global Waterjet Cutting Machines Market ($ Bn)
Country Share for Europe Region (%)
Global Waterjet Cutting Machines Market By Type ($ Bn)
Global Waterjet Cutting Machines Market By Type (%)
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Global Waterjet Cutting Machine Market Segmental Analysis
The global waterjet cutting machines market is segmented based on type, product, pressure range, end-user, and region. By type, the market is segmented into pure and abrasive. By product, the market is segmented into 3D, robotic and micro. By pressure range, the market can be segmented into less than 4200 bar and 4200 bar & above. By end use, the market is segmented into automotive, electronics, aerospace & defense, mining, metal fabrication, construction and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Type
The abrasive segment holds the upper hand, dominating the market with a significant revenue share of 89.4% throughout the forecast period. The demand for precision is steadily growing, particularly in the engineering of automotive components and various other materials like wings, brake types, gears, and turbines. This emphasis on accuracy is fueling the expansion of the abrasive waterjet cutting category across diverse industries such as defense, aerospace, textiles, mining, beverage, food, and electronics. Abrasive waterjet cutting machines stand out by combining abrasive particles, such as garnet, with high-pressure water ejection. This unique combination enhances cutting speed by effectively eroding materials like composites, stones, and metals, all while maintaining both precision and speed. Consequently, materials known for their exceptional strength are frequently processed using abrasive water jets.
For instance, in July 2022, OMAX Corporation, a prominent American manufacturer of multi-axis water jet systems, introduced the OptiMAX Precision Jet Machining Center. This newly launched system stands out as the most precise and sophisticated abrasive waterjet produced by the company to date. The flagship OptiMAX product line is recognized for being one of the easiest abrasive waterjets to use in the market. Designed to address specific industry challenges, the OptiMAX Precision Jet Machining Center offers the highest processing rates, outstanding reliability, and enhanced performance automation.
On the other hand, the fastest-growing segment in the waterjet cutting machines market is the pure segment, driven by significant advancements in the processing of food. Current stringent health regulations prioritize the adoption of pure technology to meet quality standards. This technology not only ensures compliance with regulations but also reduces costs, as cutting is achieved solely through high-pressure water without the need for any additives.
Analysis By Pressure Range
The 4200 bar and above segment holds the highest share in the waterjet cutting machines market. This is primarily due to their capacity to handle high-volume cutting tasks, minimal energy loss, and increasing demand from users for cutting composite and thick materials.
The fastest growing segment in the waterjet cutting machines market is less than 4200 bar segments. This growth is expected to continue significantly in the future, driven by advancements in ultra-high-pressure pumps.
Analysis By End Use
The automotive segment takes the lead, commanding the largest revenue share of 32.8% throughout the forecast period. The automotive industry's increasing demand for high-precision and intricate parts has significantly propelled the widespread adoption of water-cutting machines. These machines play a crucial role in fabricating complex automotive components with utmost precision. Moreover, the integration of robotic systems alongside waterjet cutting machines in automobile manufacturing lines has become increasingly common. This integration aims to enhance productivity by automating certain processes. The utilization of waterjet cutting machines not only enhances the versatility of cutting equipment but also simplifies automation for automotive manufacturers. This synergy between waterjet cutting technology and automation supports the remarkable growth of the waterjet cutting machine market within the automotive sector. In summary, the dominance of the automotive segment in the waterjet cutting machine market is attributed to the industry's growing need for high-precision components and the increasing adoption of automation technologies, which are effectively facilitated by waterjet cutting machines.
The aerospace and defense segment are the fastest growing segment and is expected to experience significant growth in the upcoming years. This growth can be attributed to the increasing adoption of robotic solutions for designing and cutting aerospace components, a growing preference for 3D cutting technology, and a heightened focus on cutting materials without compromising their original properties.
Global Waterjet Cutting Machines Market By Type, 2022 (%)
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Global Waterjet Cutting Machine Market Regional Insights
North America holds the dominant market share that is projected to reach about 32% by the end of 2031. This growth is driven by several factors including the increasing adoption of automation, the presence of major manufacturers in this sector, and the expansion of industries such as aerospace and defense, metal fabrication, and automotive. In particular, the United States, known for its large-scale automobile production, has witnessed a significant surge in demand for waterjet cutting machines. Additionally, the rise of small and medium enterprises in the metal industry has further fueled market growth in the region.
Asia Pacific is the fastest-growing region in terms of growth rate, registering a share of about 26% by the end of 2031. This rapid growth can be attributed to the presence of both organized and unorganized key market players, particularly in countries like China and Japan, which are heavily investing in research and development activities to maintain competitiveness. Furthermore, the metal industry in the region is experiencing substantial growth, contributing to the overall expansion of the market.
Global Waterjet Cutting Machines Market By Region, 2024-2031
- Largest
- Fastest
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Global Waterjet Cutting Machine Market Dynamics
Drivers
Technological Advancements
- Ongoing advancements in waterjet cutting technology, including upgrades for pump efficiency, nozzle design, and abrasive delivery systems, drive market growth by improving cutting speed, accuracy, and versatility. Moreover, the mix of automation, robotics, and advanced CAD/CAM software further expands the capabilities of waterjet cutting machines, satisfying the evolving needs of modern manufacturing processes and driving adoption across various industries.
High Demand for Mechanized Waterjet Cutters from Industrial Sector
- In recent times, there has been a notable surge in demand for mechanized or automated waterjet cutters, especially within the industrial sector. This heightened demand is primarily attributed to the superior accuracy provided by mechanized waterjet cutters. They excel in minimizing material wastage, delivering heightened precision, and saving valuable time. Industries like fabrication and automotive manufacturing, which require precise cutting, drilling, and shaping, extensively rely on mechanized cutting machines.
Restraints
Lack of Skilled Individuals
- Operating a waterjet cutting machine requires thorough professional training. However, skilled individuals with the necessary technical expertise are often not readily available in emerging economies. This scarcity of skilled workers is expected to hinder the growth of the global waterjet cutting machine market over the forecast period.
High Operational Costs
- In addition to the leading cost of purchasing a waterjet cutting machine, it's important to consider the high operational costs associated with using the equipment. These operational costs include expenses for consumables like maintenance and energy consumption. Furthermore, operational costs are ongoing and accumulate over time, impacting on the overall cost of ownership for the equipment.
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Global Waterjet Cutting Machine Market Competitive Landscape
In recent years, the market for waterjet cutting machines has witnessed a variety of growth strategies implemented by industry participants, including acquisitions, mergers, and collaborations. A key priority for prominent companies surveyed has been expanding their manufacturing presence in developing nations. Leading distributors of waterjet cutting machines are strategically focusing on maximizing sales through online channels to enhance their overall online presence. Additionally, companies in the waterjet cutting machine sector are actively investing in research and development to innovate and introduce novel products, facilitating expedited launches to bolster their sales. Thus, representing the competitive nature of the market.
Top Player’s Company Profile
- STM waterjet
- International Waterjet Machines
- Waterjet Corporation
- Swaterjet
- Foshan Yongshengda Machinery
- Techni Waterjet
- Dardi
- Waterjet Sweden
- Resato
- LDSA
- Kimtech
- Jet Edge
- Hornet Cutting System
- Jekran
- OMAX Corporation
- KMT
Recent Developments
- In March 2024, Italian organizations Caracol and CMS SpA announced their partnership at JEC World 2024, a significant event for composites and high-level materials. They want to support the worldwide market for enormous 3D printing by cooperating on business procedures and innovation advancements.
- In May 2023, Flow International Corporation, a renowned manufacturer and developer of ultrahigh-pressure waterjet cutting devices, announced the launch of its two new waterjet cutting machines. EchoJet and Mach 200C were launched as part of Flow’s efforts to expand its product line and offer more solutions for its customers.
- In December 2023, Kongsberg Precision Cutting System has unveiled its new digital cutting platform, the Kongsberg Ultimate. Poised to transform the corrugated production industry, the platform delivers unprecedented levels of productivity, precision and safety. With its new innovative Dr. technology, it has an impressive acceleration rate of up to 2.74 G and AR. Markable cutting speed of 168 meters per minute.
Global Waterjet Cutting Machine Key Market Trends
- Rising Application for a Variety of Materials: Waterjet cutting machines are versatile tools capable of cutting a wide range of materials, including aluminum, granite, gaskets, foam, steel, and titanium. For instance, abrasive waterjets are specifically utilized for cutting exotic metals like titanium and Inconel, as well as stones and composites. On the other hand, pure waterjets are employed for cutting thick insulation and cement boards. Additionally, highly engineered composites such as reinforced plastic and carbon fiber pose challenges for traditional cutting methods like saws and mills, making waterjet cutting machines a preferred choice for these materials.
- Emergence of Compact Waterjet Cutting Machines: The growing diversity in material usage and the rise of small and medium-sized enterprises (SMEs) in the metal fabrication sector have increased the demand for smaller waterjet cutting machines. SMEs work with various materials for their smaller-scale manufacturing processes. Consequently, investing in larger waterjet cutting machinery can incur significant costs for SMEs, limiting their adoption of such technology. To address this challenge, manufacturers are focusing on developing compact waterjet cutting machines that offer efficiency within limited spaces while maintaining the ability to cut exotic and heat-resistant materials. The emergence of compact waterjet cutting machines has expanded capabilities to diverse types of parts. Furthermore, the increasing demand for compact waterjet cutting machines among SMEs is evident due to these advantages. Although the availability of compact waterjet cutting machines is currently limited, the growing recognition and rising need for compact alternatives among SMEs are expected to drive multiple vendors to manufacture such machines. This trend is anticipated to significantly boost market growth for compact waterjet cutting machines during the forecast period.
Global Waterjet Cutting Machine Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global waterjet cutting machines market analysis, several factors shape the path of the market. The waterjet cutting machines market is anticipated to experience significant growth due to new technologies and advancements in various areas such as 3D design, cooling systems, and the adoption of micro waterjet cutting systems, robotics, and high-pressure waterjets. Waterjet cutting machines find applications in cutting and drilling across diverse sectors including aerospace and defense, automotive, metal fabrication, and electronics. Robotic waterjets are particularly notable for offering heat and smoke-free cutting solutions.
Additionally, high-pressure waterjets enable precise and rapid cutting with minimal heat distortion of materials. Also, adopting micro-waterjet cutting machines is ideal for working with heat-sensitive materials, and provides curate and fast precision cutting. North America holds the largest share, and Asia Pacific is quickly growing. Several key players in the industry continuously introduce new and advanced waterjet cutting machines tailored for various industries. For instance, in November 2020, Wardjet Inc. unveiled the X-2040 waterjet cutting machine. This new cutting machine operates at high speed and accuracy, boasting a maximum cutting speed of 20 meters per minute. It is equipped with special sensors that automatically adjust the height, enhancing operational efficiency. Consequently, such advanced products from key players are expected to drive lucrative growth in the waterjet cutting machines market during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.12 Billion |
| Market size value in 2031 | USD 2.9 Billion |
| Growth Rate | 6.0% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Waterjet Cutting Machine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Waterjet Cutting Machine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Waterjet Cutting Machine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Waterjet Cutting Machine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Waterjet Cutting Machine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Waterjet Cutting Machine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Waterjet Cutting Machine Market Report Snapshots
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