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The waterjet cutting machines market size is estimated to grow at a CAGR of 6.52% between 2022 and 2027. The market size is forecast to increase by USD 432.08 million. The growth of the market depends on several factors such as the high accuracy and efficiency required for cutting exotic materials, the increasing demand from the automotive industry and the increasing focus on automating the metal-cutting process.
This report extensively covers market segmentation 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). It also includes an in-depth analysis of drivers, trends, and challenges.
Waterjet Cutting Machines Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Waterjet cutting machines have gained prominence as a preferred method for profiling across various industries due to their capability to cut a diverse range of materials and deliver high cutting quality. Unlike the heat-cutting process, which involves the use of laser and plasma cutting machines for metal parts, waterjet cutting is suitable for a wider array of materials, including those that are reflective, conductive, heat-resistant, or heat-sensitive. This cold-cutting technique employs a mixture of water and abrasive materials to achieve precise cuts without generating heat or creating undesirable effects like burrs or heat-affected zones.
Consequently, the adoption of waterjet cutting machines reduces the need for additional processes like polishing and restoration, thus offering cost savings. These advantageous attributes have significantly propelled their popularity within various end-user industries. The strong influence of these factors is expected to drive market growth during the forecast period.
The rising diversity in material utilization and the expanding presence of small and medium-sized enterprises (SMEs) within the metal fabrication sector have amplified the requirement for smaller waterjet cutting machines. SMEs engage with various materials for their limited-scale manufacturing processes. Consequently, the investment in larger waterjet cutting machinery can lead to substantial costs for SMEs, hindering their adoption of such technology. To address this challenge, manufacturers are concentrating on crafting compact waterjet cutting machines that offer efficiency within constrained spaces and demonstrate competence in cutting exotic and heat-resistant materials. Nonetheless, the emergence of compact waterjet cutting machines has extended capabilities to diverse part types.
Moreover, the upsurge in demand for compact waterjet cutting machines within SMEs is evident due to these advantages. While the availability of compact waterjet cutting machines is currently limited, the mounting recognition and increasing necessity for compact alternatives among SMEs are poised to encourage a surge in manufacturing such machines by numerous vendors. This trend is anticipated to significantly propel market growth for compact waterjet cutting machines during the forecast period.
The waterjet cutting machines market is confronted with a significant hindrance arising from the availability of alternative metal cutting machinery equipped with cost-efficient tools, specifically tailored for shaping ductile metals like stainless steel, brass, and aluminum. While diverse cutting machines are accessible in the market, specialized cutting equipment finds prominent application in various sectors including automotive, aerospace and defense, healthcare, plastics, electrical and electronics, textiles, and woodworking. Among these, plasma cutting emerges as a cost-effective method primarily employed in steel cutting, utilizing plasma gas such as nitrogen, argon, hydrogen, or compressed air to generate a plasma arc within the torch. This technique is commonly utilized for aluminum, copper, thick stainless steel, and various steel alloys. In contrast, laser cutting machines, equipped with high-power lasers, exhibit remarkable precision and versatility in vaporizing materials spanning from steel to plastics.
However, the prevalence of these alternate metal-cutting approaches has cast a shadow on the demand for waterjet-cutting machines. Technavio anticipates that the influence of this challenge, coupled with the rising inclination towards innovative laser-cutting solutions across diverse industries, will further exacerbate and impede the growth trajectory of the highlighted market segment during the stipulated forecast period.
The market share growth by the metal cutting segment will be significant during the forecast period. Exotic metal contains stainless steel, titanium alloys, nickel and cobalt. Heat-resistant superalloys are a key element in the end-users industry, e.g. automobiles, aeronautics and defence, as well as electric electronics. The cold-cutting process must be used for these heat resistance metals. Consequently, the demand for waterjet machinery in metal-cutting applications is growing steadily.
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The metal cutting segment was the largest segment and was valued at USD 436.34 million in 2017. Almost all sectors of the end-user industry are required metals. The shift toward the use of lightweight metals, including titanium and aluminum, in industries such as aerospace and defense and automotive is the significant factor that increases the use of waterjet cutting machines in metal cutting applications. In addition, the availability of substitutes, such as plasma and laser cutting machines, for cutting thick metal parts is a major challenge hindering the market growth. Nevertheless, there is steady progress in waterjet cutting machines. Also, in terms of handling heat-sensitive metals, the vendors of the market are enhancing the performance of the machines. Such factors will fuel the growth of the metal cutting segment of the waterjet cutting machines market during the forecast period.
Based on end-user, the market has been segmented into metal fabrication, automotive, electrical and electronics, aerospace and defense, and others. The metal fabrication segment will account for the largest share of this segment.? It is the method of creating metal structures by cutting, bending, and assembling. A number of value-added processes, such as welding, cutting, forming, and machining, are employed in large fabrication houses within a single facility. The fabricated metal parts are used in small arms, utensils, building products, fasteners, construction products, and heavy equipment. A strong increase has been reported in demand for buildings, vehicles, and heavy machinery since the recession of 2008. As a result, there is an increased demand for fabricated metals. Therefore, the rising demand for fabricated metal products across industries has functioned as a growth catalyst for the global waterjet cutting machines market, which in turn is expected to drive the market growth during the forecast period.
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North America is estimated to contribute 36% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. In North America, the largest contribution to the overall revenue of the waterjet cutting machines market comes from the United States. Despite the mature phase of the automotive industry in the US, it continues to be a significant revenue generator for the regional market. The focus on enhancing technical skills within the workforce, driven by manufacturers and local governments, aims to seamlessly integrate automation and robotics.
In North America, the aerospace industry has seen foreign investments due to a skilled workforce and a robust distribution system. Expected growth in the aerospace sector is attributed to increased investments. The US also leads in revenue contribution to the furniture sector in North America, despite fluctuations in wood prices affecting imports. This scenario has prompted investments in local furniture manufacturing units. The furniture market's growth is attributed to rising disposable incomes, a preference for luxury wooden furniture, real estate industry growth, and overall economic stability in the region.
The outbreak of COVID-19 hampered the growth of the waterjet cutting machines market in North America. However, the successful implementation of COVID-19 vaccinations by North American governments in 2021 led to a more favourable business environment, benefiting the waterjet cutting machine market in both 2021 and 2022. With increased vaccination rates, manufacturing activities resumed, industrial sectors recovered, and the demand for waterjet cutting machines surged. Anticipated future developments in the regional waterjet cutting machine market are expected to be driven by factors such as industrial automation trends, advancements in cutting technology, and the growing need for precise and efficient cutting processes during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
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.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The waterjet cutting machines market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Waterjet Cutting Machines Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.52% |
Market growth 2023-2027 |
USD 432.08 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.86 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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