Waterjet Cutting Machine Market Size, Trends & Growth (2021 - 2026)
The global market for waterjet cutting machines is currently valued at US$1.1 billion and is expected to grow by US$1.5 billion by 2026.
A waterjet cutting machine (WCM) is an industrial instrument that cuts and shapes various materials with high-pressure water jet streams. Water or abrasive liquids are used in the stream to cut through metals, glasses, foams, and reflecting surfaces without melting, warping, or changing their natural structure. As a result, the machines don't need heat to cut and may keep sensitive materials to high temperatures in good shape. They also comprise several other advantages, such as high precision cutting, the capacity to cut a variety of materials, and low water usage. As a result, they have a wide range of applications in automotive, electronics, aerospace and military, food and beverage, mining, metal fabrication, paper processing, textile, and so on.
October 2021: Cloos-powered robotic welding cells have been introduced by Bystronic Inc. Each comes with a two-station workpiece positioner and has a specified scope of applicability dependent on the size and weight of the items to be welded.
September 2021: Season One of Metal Shop Masters, a Netflix reality TV series that premiered globally on September 10, featured ESAB as the exclusive vendor of welding equipment. The show comprises five men and two women who compete in metal manufacturing challenges in an elimination format. The final fabricator standing at the end of six challenges will be crowned Metal Shop Master and receive a $50,000 award.
Waterjet Cutting Machine Market Drivers
Robotic waterjet cutters have been developed due to increasing breakthroughs and innovations in the waterjet cutting business, which has helped to improve operational efficiency across a variety of industries. Furthermore, the rising demand for waterjet cutting machines can be linked to the innovation of pumps from classic intensifier designs to rapid direct drive pumps and improved nozzle designs to enable improved cutting speeds. Furthermore, machines can handle the delicate structure of aerospace and defense components that require great precision and accuracy in terms of dimensions, forcing producers to focus on product development.
The growing demand for corporations to cut, drill, and shape materials into precise proportions without producing waste has pushed them to adopt the technology. The cutting method produces no hazardous waste and makes it easier to recycle discarded materials. As a result, environmental benefits are realized, and end-use industries can implement the technology. Furthermore, the waterjet cutting machines market is expected to rise rapidly over the projected period, owing to tightening environmental regulations and waste production restrictions.
The market's expansion is being stifled by reasons such as the high total cost of ownership and the need for technical know-how. High energy consumption, sensitivity to environmental conditions, the possibility of incorrect selection, poor maintenance, high cost of ownership, and difficulties encountered during fabrication are only a few of the primary issues impeding the market growth. Additionally, the lack of qualified personnel and the development of cost-effective technologies are possible limitations to the global Waterjet Cutting Machine Market's overall growth.
Waterjet Cutting Machine Market Segmentation
Pure waterjet cutting machines (PWCM) and abrasive waterjet cutting machines (AWCM) are the two types of waterjet cutting machines on the market (AWCM). PWCM uses water as a cutting medium to speed up the cutting process, whereas AWCM uses a combination of water and abrasive material.
The purest kind of waterjet cutting technology, pure waterjet, works by focusing a high-pressure water stream onto a thin or soft material for a precise cut. Gaskets, foam, paper, plastics, insulation, disposable diapers, cement board, food, and carpet are more delicate materials cut using PWCM. Pure waterjet is a cold cutting procedure that prevents the fabric from developing a heat-affected zone. Over the projected period, the segment is expected to increase at a CAGR of 5.6 percent, with a CAGR of 5.6 percent from 2021 to 2026.
In 2020, the abrasive waterjet cutting machine (AWCM) dominates the market, and it is predicted to do so again in the following years. Segmental growth is attributed to rising demand for accurate automobile performance parts and other cutout materials, including brake types, wings, turbines, and gears in the aerospace and military, electronics, mining, textiles, food, and beverage industries. Furthermore, the AWCM combines abrasive particles like garnet with a high-pressure water stream to speed up the cutting process by degrading metals, composites, and stones with great speed and precision. As a result, high-strength materials are frequently cut with abrasive waterjets.
Automotive, electronics, aerospace and defense, mining, and metal production, among other industries, are all represented in the waterjet cutting machine industry.
The automobile industry has seen strong adoption of WCMs, owing to the growing demand for high-precision complex automotive parts. Furthermore, robotic systems are used in production lines alongside WCMs in the automotive industry to improve operational efficiency. Therefore during 2021-2026, the automotive application segment is predicted to develop at a CAGR of 4.8 percent.
Over the forecast period, demand for waterjet cutting machines in aerospace and defense is expected to grow faster. Moreover, Waterjet cutting machines are becoming more popular for developing composite parts and components for airplanes, such as turbine blades and jet engines. In addition, WCMs are widely used to create important defense and military products such as guided missiles, space vehicles, and cutting solutions for rotary blades, thick sheet metals, and aircraft fuselages. Furthermore, rising investment and research and development in the aerospace and defense industry will drive global demand for highly efficient machinery like the WCM. As a result, the application category will grow at a CAGR of 5.4 percent over the projection period.
Waterjet cutting machines are also becoming increasingly popular in other industries, such as food, beverage, tobacco, and specialized packaging solutions.
In 2020, the Asia Pacific region was expected to be the largest regional market, accounting for more than 35% of the total market. Product demand in the area is predicted to increase as economic conditions improve and industrialization accelerates, particularly in China, India, and South Korea. Over the forecast period, the region's growing material handling, electronic component, metal and mining, and food, beverage, and tobacco industries are expected to boost the market.
North America is projected to be the fastest-growing market during the forecast period. The automotive, electronics, food, and aerospace industries have all seen strong growth in the region. The broad industrial base and high production capacity of enterprises in the country are responsible for the market's growth. For example, waterjet cutting machines are used to cut headliners, door panels, carpets, liners, dumpers, composite parts, and castings in the United States, one of the world's largest automobile markets home to several auto manufacturers. Additionally, because waterjet cutting machines are used to cut various materials, industries such as aerospace and military, and food give strong chances for them.
The Western European region has made a substantial contribution to the WCM industry in Europe. The primary drivers of market expansion in the area have been increasing technological innovation and expanding energy-efficient technology. Furthermore, the regional market is growing due to an increase in industrial automation, a rise in steel consumption, and increased use of indexed steel in the building.
Dardi International Corporation, WARDJet, Inc., Bystronic Laser AG, Colfax Corporation, OMAX Corporation, Jet Edge, Inc., Resato International BV, Koike Aronson, Inc., Shape Technologies Group, and Hypertherm, Inc. are among the leading firms in the market.
Impact of COVID-19
COVID-19 harmed the waterjet cutting machine market in 2020, resulting in lower revenues. As a result, the market's growth trajectory in the first half of 2020 was slow. However, this trend is projected to end by 2021, as demand for waterjet cutting machines is expected to rise due to increased concern.
The COVID-19 pandemic had a significant impact on the waterjet cutting machine market's value chain. The United States, China, India, South Korea, and Japan have been struck by the pandemic, account for a large portion of the global waterjet cutting machine market. Due to the worldwide downturn and diminishing purchasing power, electronics, automotive, and aerospace have seen reduced demand, projected to persist in the short term.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Waterjet Cutting Machine Market , By Type
6.1.1 Pure Waterjet Cutting Machine (PWCM)
6.1.2 Abrasive Waterjet Cutting Machine (AWCM)
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Waterjet Cutting Machine Market , By Application
6.2.3 Aerospace and Defence
6.2.4 Mining, and Metal production
6.2.6 Market Size Estimations & Forecasts (2021-2026)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Waterjet Cutting Machine Market , by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.3.1 By Country
18.104.22.168 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
22.214.171.124 South Korea
126.96.36.199 South East Asia
188.8.131.52 Australia & NZ
184.108.40.206 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
220.127.116.11 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
18.104.22.168 Middle East
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 Flow International Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 SpaceClaim Corporation
8.3 KMT Waterjet
8.4 Yaskawa Electric Corporation
8.5 Finepart Sweden AB
8.6 Micro Waterjet LLC
8.7 Innomax AG
8.8 Belotti S.P.A
8.9 Phenix Technologies
8.10 Metronics Technologies S.r.L.
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures