The Waterjet Cutting Machines Market to grow by USD 432.08 million from 2022 to 2027 | The Need for High accuracy and efficiency to cut exotic materials is a key factor driving market growth- Technavio

NEW YORK, Sept. 25, 2023 /PRNewswire/ -- The waterjet cutting machines market is expected to grow by USD 432.08 million from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 6.52% during the forecast period. The market is segmented by Application (Metal cutting, Glass cutting, Stone cutting, and Others), End-user (Metal fabrication, Automotive, Electrical and electronics, Aerospace and defense, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). High accuracy and efficiency are required for cutting exotic materials is a key factor driving market growth. Waterjet cutting has gained importance as the preferred shaping method in various industries due to its ability to cut a wide variety of materials and deliver high cutting quality. Therefore, the use of waterjet cutting reduces the need for additional processes such as polishing and restoration, thereby saving costs. These favorable attributes have significantly increased their popularity among various end-user sectors. Additionally, waterjet cutting is suitable for a wider range of materials, including those that are reflective, conductive, heat-resistant, or heat-sensitive. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the waterjet cutting machines market: A Innovative International Ltd., AAG INC., Dardi International Corp., ESAB Corp., Foshan Yongshengda Machinery Co. Ltd., Guangzhou Sino Achieve Mechanical Equipment Co. Ltd., Hornet Cutting Systems, Hypertherm Inc., Jet Edge Inc., Koike Aronson Inc., Leading Edge Cutting Solutions Inc., Metronics Technologies SLU, Optomec Inc., Resato International BV, SCM GROUP Spa, Shape Technologies Group Inc., Shenyang AUTOFU Technology Co. Ltd., STM waterjet GmbH, Sugino Machine Ltd., and Waterjet Corporation s.r.l.
• The Waterjet Cutting Machines Market is fragmented in nature.
• Market to observe 5.86% YOY growth in 2023.

Market Dynamics:

Major Trends

• The emergence of compact waterjet cutting machines is a major trend in the market. 
• The increasing diversity in material use and the growing presence of small and medium-sized enterprises (SMEs) in the metal fabrication sector have increased the demand for smaller waterjet cutting machines.
• Therefore, investing in larger waterjet cutting machines can result in significant costs for SMEs, hindering their adoption of this technology.
• To address this challenge, manufacturers are focusing on designing waterjet cutting machines that are compact and efficient in tight spaces.
• Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenge

• The availability of alternate cutting machine technologies is a significant challenge restricting market growth. 
• Although there are different types of cutters on the market, specialty cutters are mainly used in end-user industries such as automotive, aerospace and defense, medical, plastics, electrical and electronics, textiles, and wood processing.
• A plasma arc is created inside the plasma torch. Depending on the metal and the desired quality level, nitrogen, argon, and hydrogen or compressed air are used as plasma gases.
• The versatility of these machines allows manufacturers to cut these materials and develop products and components with complex shapes.
• Hence, these factors are expected to drive market growth during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

• The market share growth by the metal cutting segment will be significant during the forecast period. Exotic metals include stainless steel, titanium alloys, nickel, and cobalt. Heat-resistant superalloys are of key importance for end consumers, such as automobiles, aircraft, defense, and electronics. Moreover, the Cold Compressing Process should be used with respect to these heat-resisting metals. The metals are required in nearly all sectors of the end-user industry. The shift towards using lighter metals, including titanium and aluminum, in sectors such as aerospace, defense, and automotive has been a key factor in the increased use of waterjet cutting in metal cutting applications. Hence, these factors are expected to drive segment growth during the forecast period.

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Related Reports:

The gas cutting machine market is estimated to grow at a CAGR of 2.14% between 2022 and 2027. The size of the market is forecast to increase by USD 97.42 million. 

The Metal Machining Market size is estimated to grow at a CAGR of 3.86% between 2022 and 2027 and the size of the market is forecast to increase by USD 17.17 billion. 

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio