Global Waterjet Cutting Machine Market Research and Forecast 2018-2023

Posted by Orion Market Research on July 23rd, 2018

A waterjet cutter is an industrial tool used in cutting a wide variety of materials by the use of a very high-pressure jet of water. The pressure of water can be as high 60,000 Pounds Per Square Inch (psi). The waterjet cutting machine market is driven by renewal in manufacturing activity, robust demand from key end-use industries, and technological advancements. The global market for waterjet cutting machines is projected to witness a growth rate of over 8.2% during the forecasted period 2018-2023. Waterjet technology finds a wide application in various end-use industries, including aerospace, construction, automotive, marine and mining. Factors driving the growth of the market are a wide range of applications, increasing mining activities, and advancement in waterjet technology. As the industrial trend is shifting toward clean energy, the waterjet cutting technology will show a growing market in the near future.

The waterjet cutting machine market has been segmented by technology, dimension, application and end user. By technology, the market is segmented into pressurized waterjet cutting machine, abrasive mixture waterjet cutting machine. By dimension, the market is divided into 1D & 2D machine and 3D machines. 3D machines will show a significant market growth as the customized application is increasing all across the globe. By application, the market is segmented into metal cutting, ceramic/ stone cutting, foam product cutting and fiberglass cutting. Metal cutting will have the market dominance in the forecast period due to widespread application of metal in different industry. It is used in aerospace industry, automotive industry, metal fabrication work and so on. By end user, the market is divided into automotive, aerospace, Metal fabrication work and Other. Automotive and aerospace waterjet cutting will dominate the market due to huge parent market size and requirement of precision and accuracy in manufacturing unit and final product.

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Global Water Jet Cutting Machinery market is bifurcated on the basis of geography including North America, Asia Pacific, Europe and Rest of the World. North America market is divided into the U.S. and Canada. North America is expected to have a major market share in the waterjet cutting market. Major factor motivating the market are well-developed industrial infrastructure, the presence of major market players of different industry and requirement of high precision. Companies such as Boeing, Airbus, General Motors, Fiat are some major manufacturing players needs high precision. The Europe market is divided into the UK, Germany, France, Italy, Spain and Rest of Europe. The region is expected to show a considerable growth rate during the near future. The automotive sector of the Europe is known for safety and speed in their vehicle which requires high precision and accuracy. The major countries which have considerable market of waterjet cutting technology in Asia Pacific are China, India, Japan and South Korea. Huge customer base, technological advancement in the Japan, Korea and China are the major factor driving the market.

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The global water jet cutting machinery market is highly fragmented and extremely competitive in nature due to the presence of a large number of market players. Key market players of the water jet cutting machinery market include Baltic waterjet, CMS Inc., KMT Waterjet, Dardi International, Huffman LLC, Jetstream Corp. OMAX Corporation and so on. The major players in the market are Flow International Corporation, Water Jet Sweden AB, DARDI International Corporation, and WARDjet, Inc. These companies have about 40% of the global waterjet cutting machinery market in terms of value. The recent introduction of micro waterjet cutting machines and increasing acceptance of 3D waterjet cutting systems represent significant technology switch in the global waterjet cutting machines market and this technology is expected to develop during the forecast period. The key strategies adopted by the market players for strengthening their market share in global water jet cutting machinery market includes mergers & acquisitions, development of innovative packaging technology, contracts & agreements, and geographical expansions. For instance, in Oct, 2016, Bourn & Koch Inc. acquired Diamond Technology Innovations Inc. (DTI). The acquired company is the leading a manufacturer of waterjet orifices and nozzles in Washington, the US.