Global Waterjet Cutting Machines Market Size is projected to reach USD 1,340.60 million by 2031, growing at a CAGR of 3.7%: Straits Research
Continued industrialization and rapid urbanization in the region are two of the most important factors propelling regional market expansion. The Chinese market for waterjet cutting machines is the greatest regional market in Asia-Pacific.
New York, United States, March 14, 2024 (GLOBE NEWSWIRE) -- An industrial tool known as a water jet cutter, water jet, or water jet can cut various materials using a high-pressure or water-abrasive mixture. This instrument is also known as a water jet, water jet cutter, water jet, and water jet. Waterjets are frequently used to cut flexible materials such as dense foams, components for automobile interiors and bodies, rubber, plastics, and cork. Other examples include cork removal. Waterjet-equipped machines can cut any metal, including reinforced tool steel, aluminum, titanium, and other exotic metals that are difficult to cut with other tools or processes.
When utilizing a waterjet for cutting, the resulting edge will be free of burn scars, fractures, and other burrs. The process of cutting materials with a high-pressure water turbine is known as "jet cutting," it can be used to cut various materials. There are two distinct types of jet cutting, each determined by the material being sliced.
Download Free Sample Report PDF @ https://straitsresearch.com/report/waterjet-cutting-machines-market/request-sample
Metal Matrix Composites Cutting Drives the Global Market
A metal matrix composite comprises a metal matrix and reinforcing filaments or particulates. Reinforcement improves the metal's fundamental properties, such as rigidity, temperature resistance, strength, and conductivity. Additionally, it makes these metals more applicable in a variety of industries. Common applications for these materials include brakes, earth-moving equipment, military tanks, and armored panels. This demonstrates that the metal is extremely rigid and robust, making it difficult to cut such metal composites.
Other cutting instruments, such as CNC shearing machines, rapidly lose their sharpness when cutting metal matrix composites. Like other materials and metals with lower strengths, these rigid metals can be easily and swiftly cut with waterjet cutting equipment. The primary cause is that the waterjet machines only cut the metal matrix, rinsing away any remaining reinforcement.
High Demand for Mechanized Cutting from the Industrial Sector in Emerging Economies Creates Tremendous Opportunities
According to Straits Research, “The global waterjet cutting machines market was valued at USD 966.7 million in 2022. It is estimated to reach USD 1,340.60 million by 2031, growing at a CAGR of 3.7% during the forecast period (2023–2031).” Demand for mechanized or automated waterjet cutters has increased significantly in recent years. This demand is primarily the result of the manufacturing industry. This is because mechanical waterjet cutters are more accurate than their manual counterparts. When utilizing mechanized waterjet cutting equipment, it is not necessary to have an operator present throughout the entire procedure.
In addition, it aids in minimizing material waste, increases precision, and shortens production time. Numerous industries, such as the fabrication and automotive sectors, require precise cutting, piercing, and forming, which is why mechanized cutting machines are so prevalent. In the not-too-distant future, market participants can anticipate outstanding growth prospects due to the exceptionally high demand from the industrial sector.
Regional Analysis
Asia-Pacific is the most significant global waterjet cutting machines market shareholder and is estimated to exhibit a CAGR of 6.3% over the forecast period. The Asia-Pacific region has become the largest market for waterjet cutting machines and is expected to maintain its dominance throughout the forecast period. Continued industrialization and rapid urbanization in the region are two of the most important factors propelling regional market expansion. The Chinese market for waterjet cutting machines is the greatest regional market in Asia-Pacific. Despite this, it is anticipated that the growth of the Chinese market will decelerate over the forecast period due to China's trade conflict with the United States and the appreciation of the national currency, resulting in a decline in exports.
However, the prevalence of a robust manufacturing base in China is expected to drive market expansion. India is also anticipated to emerge as a significant regional market in Asia-Pacific due to favorable government initiatives, such as the Make in India campaign, which permits 100 percent Foreign Direct Investment (FDI) and is anticipated to boost the country's metalworking industry during the forecast period.
Europe is anticipated to exhibit a CAGR of 4.0% over the forecast period. Due to the political unrest in some regions of the Middle East and the United States sanctions against the Russian Federation, the regional market in Europe is experiencing a significant decline in exports to important markets like the Middle East and Russia. Such elements are proving to be a significant barrier to the expansion of the local market. The regional market in Europe has experienced rapid technological advancement. It strongly emphasizes implementing cutting-edge manufacturing equipment, allowing waterjet-cutting vendors to expand. The primary contributing cause to the market's expansion has been replacing outdated machinery with newer, more effective machinery.
Key Highlights
Based on the type, the global waterjet cutting machines market is bifurcated into pure and abrasive.The abrasive segment dominates the global market and is projected to exhibit a CAGR of 4.5% over the forecast period.
Based on product, the global waterjet cutting machines market is segmented into 3D, robotic, and micro waterjet cutting machines. The robotic waterjet cutting machinesegment dominates the global market and is predicted to exhibit a CAGR of 3.8% during the forecast period.
Based on application, the global waterjet cutting machines market is bifurcated into foam product cutting, exotic metal, non-traditional material cutting, ceramic/stone cutting, glass/metal art, gasket cutting, and fiberglass cutting. The glass/metal art segment owns the highest market share and is predicted to exhibit a CAGR of 4.7% over the forecast period.
Based on end-users, the global waterjet cutting machines market is divided into automotive, electronics, aerospace, defense, mining, and metal fabrication. Others. The Automotivesegment is the most significant contributor to the market and is estimated to exhibit a CAGR of 4.9% over the forecast period.
Asia-Pacific is the most significant global waterjet cutting machines market shareholder and is estimated to exhibit a CAGR of 6.3% over the forecast period.
Competitive Players
The key players in the global waterjet cutting machines market are Koninklijke Philips N.V., Medtronic, Natus Medical Incorporated, 3M, Ambu, Cognionics, Inc., Rhythmlink International, LLC, Leonhard Lang GmbH (Acquired by DCC PLC.), CONMED Corporation, and Compumedics Limited.
Market News
In June 2021, a completely owned subsidiary of the CERATIZIT group, CERATIZIT USA, Inc., announced the purchase of a 100% ownership position in Best Carbide Cutting Tools, LLC. The business manufactures carbide round-cutting tools.
In May 2021, the new KMT Waterjet Cut Calculator 2.0 App was released by KMT Waterjet Systems, Inc. With the addition of 25 new materials, the KMT Calculator now has a wider selection of substrate thicknesses, orifice sizes, horsepower, and abrasive rates.
Global Waterjet Cutting Machines Market: Segmentation
By Type
Pure
Abrasive
By Product
3D Waterjet Cutting Machine
Robotic Waterjet Cutting Machine
Micro Waterjet Cutting Machine
By Applications
Foam Product Cutting
Exotic Metal and Non-Traditional Material Cutting
Ceramic/Stone Cutting, Glass/Metal Art
Gasket Cutting
Fiberglass Cutting
By End-User
Automotive
Electronics
Aerospace and Defense
Mining
Metal Fabrication
Others
By Regions
North America
Europe
Asia-Pacific
Get Detailed Market Segmentation @ https://straitsresearch.com/report/waterjet-cutting-machines-market/segmentation
About Straits Research Pvt. Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 905 0080 (U.S.)
+91 8087085354 (India)
+44 203 695 0070 (U.K.)
Email: sales@straitsresearch.com
Follow Us: LinkedIn | Facebook | Instagram | Twitter
