Waterjet Cutting Machine Market Share, Size, Trends, Industry Analysis Report, By Offerings (Hardware, Software, Services), By Waterjet (Abrasive, Non-abrasive), By Product Type (3D, Micro, Robotic), By Industry; By Region; Segment Forecast, 2022 - 2030
- Published Date:May-2022
- Pages: 120
- Format: PDF
- Report ID: PM2390
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global waterjet cutting machine market was valued at USD 1.17 billion in 2021 and is expected to grow at a CAGR of 6.4% during the forecast period. The growing trend of environmentally friendly processes and practices majorly across the automotive, electronics, aerospace defense, mining, metal fabrication, etc., coupled with the increasing emergence of novel technologies & innovations, are stimulating the waterjet cutting machine market demand.
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In addition, an increase in process automation across target industries and growing adoption expenditure towards product launch and advancement of the product also propel the adoption of advanced machines, which, in turn, impels industry growth. Moreover, increasing needs for precision cutting machine techniques, availability of favorable reimbursement scenarios, and rapid industrialization catalyzes waterjet cutting machine market growth throughout the projected period.
The outbreak of the COVID-19 has shown a significant impact on the various sector of the economy. The waterjet cutting machine market was also negatively affected due to the imposition of stringent lockdown across multiple regions. Cutting machines are primarily adopted in automotive, electronics, aerospace & defense, mining, metal fabrication, and many others to cut various materials by using a mixture of abrasive and water or high-pressure water cutting. During this period, these industries' growth was substantially affected due to inevitable disruptions in the supply chain of products and the downfall of the global economy. However, the gradual opening of the lockdowns across various is presenting various growth prospects for the waterjet cutting machine industry growth in the upcoming years.
Industry Dynamics
Growth Drivers
The surging demand for waterjet cutting machine, owing to their high operational excellence, is gaining massive traction in the manufacturing sector worldwide. These machine are flexible and can cut irregular shapes with higher precision and edge quality from any material. Also, these machine are integrated with abrasives that can cut nearly all shape and thickness that encompasses bonded laminated materials like rubber-lined wear plates and aluminum composite panel.
Besides, it also presents an abrupt high-cutting machine quality that eliminates additional finishing processes. Consequentially, these characteristics of the cutting machine in the cutting process boost operational efficiency and save time, thus, in turn, spurring the cutting machine industry demand across the globe.
Furthermore, rising technological advancement, the need for environment-friendly cutting machine processes, stringent government laws, and practices within end-use verticals, etc., is attributed to industry growth. For instance, as per the Indian Brand Equity Foundation, in 2021, the consumer electronics and appliances industry is estimated to increase to USD 21.18 billion by 2025 compared to USD 10.93 billion in 2019. Hence the rising appliances and consumer electronics market further creates productive demand for cutting machine over the forecast period.
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Report Segmentation
The market is primarily segmented on the basis of offerings, waterjet, product type, industry, and region.
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By Offerings |
By Waterjet |
By Product Type |
By Industry |
By Region |
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Insight by Industry
Electronics segment is the dominant segment globally due to rising demand and adoption for electronics appliances, rapid digitalization, and increasing investment in innovative technology. For instance, as per the Indian Brand Equity Foundation, internet users in India surged from 665.31 million in 2019 to 700 million in 2020 and are projected to reach 835 million by 2023. With the rising digitalization and penetration of electronics users, the market is expected to grow in the forecast period. Hence, increasing demand for the electronic industry is anticipated to act as a catalyzing factor for global market growth.
The construction is expected to grow at a significant CAGR in the forecasting years. With the changing lifestyle and rising disposable income, people are more inclined toward the intelligent and advanced residence attributes to the segment growth. Moreover, the public and private investments in construction activities are growing, which, in turn, bolsters the segment growth.
For instance, according to World Economic Forum, in 2021, the adoption of smart & electronics is increasing rapidly in the construction industry; thus, house prices have risen by 5 % in about 23 countries, including Turkey, Canada, Denmark, and New Zealand. Hence, these factors are witnessing the surging demand for cutting machine in the construction sector, which augments the segment growth in the forecast period.
Geographic Overview
Geographically, Asia Pacific accounted for the highest market shares in the global market. The rapid technological advancements in the waterjet cutting machine market, such as drilling or cutting delicate details or precision shapes in stones, glass, metals, etc., are escalating the market growth. Additionally, various end-use industries are inclined to adopt cutting machine, and the increasing number of favorable regulatory policies, coupled with growing expenditure from market players present in the Asia Pacific, are propelling the market demand.
The rising spending by the government in the manufacturing industries is also augmenting the market expansion across the Asia Pacific region. Moreover, rapid industrialization and improving economic scenario across China, India, and South Korea, and rising material handling, food & beverage, metal and mining, and electronic industries are anticipated to spur the market demand across the region.
Moreover, the European market is anticipated to exhibit the highest CAGR over the forecasting years owing to the increasing application of waterjet cutting machine in various applications such as packaging, food, beverage, electronics, etc., as well as raising public and private investments towards end-user industries are acts as a catalyzing factor for the market growth. Besides, rising consumption of steel, growing need for industrial automation, and increasing consumption of indexed steel in construction activities are further fuelling the market demand. For instance, according to the European Steel Association (EUROFER) AISBL statistics, the total usage of steel grew by 1.3 percent in 2017. Hence, these factors are expected to foster the market demand over the forecast period.
Competitive Insight
Some of the major players operating in the global market include Accurl, Colfax, Foshan Yongshengda, Hornet Cutting System, International Waterjet Machine, Jekran, Jet Edge, Kimtech, Koike Aronson, LDSA, Lincoln Electric, Microstep, Resato, STM waterjet, Swaterjet, Techni Waterjet, and Waterjet Corporation.
Waterjet Cutting Machine Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 1.17 billion |
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Revenue forecast in 2030 |
USD 1.99 billion |
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CAGR |
6.4% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Offerings, By Waterjet, By Product Type, By Industry, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Accurl, Colfax, Foshan Yongshengda, Hornet Cutting System, International Waterjet Machine, Jekran, Jet Edge, Kimtech, Koike Aronson, LDSA, Lincoln Electric, Microstep, Resato, STM waterjet, Swaterjet, Techni Waterjet, and Waterjet Corporation. |
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