The global waterjet cutting machine market is anticipated to reach USD 1.4 billion by the end 2027, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 5.1% from 2020 to 2027. Rising adoption of WCMs for implementing eco-friendly cutting practices across the globe is anticipated to propel the market growth. Moreover, growing demand for automation and technological advancements to improve the operational efficiency across different sectors such as mining, aerospace and defense, textile, automotive, and electronics is anticipated to further drive the market growth over the forecast period.
Moreover, rising demand for WCMs to develop complex components such as jet engine and turbine is anticipated to drive the growth of WCMs market across the aerospace industry. Moreover, for developing complex for developing complex military and defense products like rotary blades, guided missiles, aircraft fuselages, space vehicles, and thick metal sheets, there has been rapid adoption of waterjet cutting machines which is further projected to propel the segment’s growth.
The segment of pure waterjet cutting machines is expected to attain a CAGR of 5.6% over the forecast period owing to its wide application in industries such as custom packaging, food, tobacco, and beverage to cut soft materials with high efficiency. Moreover, rising demand for cut out parts like wings, gears, brake types, and turbines across industries such as mining, aerospace & defense, food & beverage, textiles, and electronics is anticipated to boost the demand for abrasive waterjet cutting machines over the forecast period. Thus, the segment is projected to attain a significant growth from 2020 to 2027.
Pure waterjet cutting machines use cleanest technology to cut soft materials. However, abrasive waterjet cutting machines are used to cut high strength alloys and hard materials such as composite, stones, and metals with high pressure water stream and abrasive material such as garnet. Moreover, rising preference for this technology over other cutting technologies owing to its efficiency and capability of performing various other functions such as drilling, precision, and cutting sharp edges is anticipated to further drive the waterjet cutting machines market growth over the forecast period.
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Further key findings from the report suggest:
• In 2019, the global market for waterjet cutting machine accounted for the revenue of USD 969.2 million and it is anticipated to grow at a CAGR of 5.1% from 2020 to 2027.
• The segment of abrasive waterjet cutting machine is anticipated to attain a significant growth over the forecast period owing to rising demand for producing accurate automotive components, aerospace parts, and electronic circuit boards.
• Asia Pacific held the largest market share across the global market and is projected to attain the fastest growth at a CAGR of 6.4% from 2020 to 2027
• Leading players in this industry are Dardi International Corporation; Colfax Corporation; Omax Corporation; Koike Aronson, Inc.; Flow International Corporation; Hornet Cutting Systems; WARDJet, Inc. (AXYZ Automation Group); and A Innovative International Ltd.
Million Insights has segmented the global waterjet cutting machines market based on type, application, and region:
Type Outlook (Revenue, USD Million, 2016 - 2027)
Application Outlook (Revenue, USD Million, 2016 - 2027)
• Aerospace & Defense
• Metal Fabrication
Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• South Korea
• Rest of World